Requisite expertise, firm reputation, and status in venture capital investment allocation decisions


Dimov, D., Shepherd, D. A. and Sutcliffe, K. M., 2007. Requisite expertise, firm reputation, and status in venture capital investment allocation decisions. Journal of Business Venturing, 22 (4), pp. 481-502.

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    Drawing together research in the upper echelon perspective, strategy, and organizational sociology, this paper examines (1) the relationship between the finance expertise of a venture capital (VC) firm's management team and investment selection, and (2) the moderation of this relationship by the VC firm's social position. We find that while finance expertise is associated with a lower proportion of early-stage investments, this relationship is weaker for firms with high reputation and stronger for firms with high status. We conclude with a discussion of the importance and nuances of external image considerations on investment decisions as well as insights into the importance of the requisite nature of expertise. © 2006 Elsevier Inc. All rights reserved.


    Item Type Articles
    CreatorsDimov, D., Shepherd, D. A. and Sutcliffe, K. M.
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    DepartmentsSchool of Management
    Publisher StatementDimov_J_Business_Venturing_2007_22_4_481.pdf: NOTICE: this is the author’s version of a work that was accepted for publication in Journal of Business Venturing. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of Business Venturing, vol 22, issue 4, 2007 DOI 10.1016/j.jbusvent.2006.05.001
    ID Code32464


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