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Human capital theory and venture capital firms : exploring "home runs" and "strike outs"


Reference:

Dimov, D. P. and Shepherd, D. A., 2005. Human capital theory and venture capital firms : exploring "home runs" and "strike outs". Journal of Business Venturing, 20 (1), pp. 1-21.

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    Official URL:

    http://dx.doi.org/10.1016/j.jbusvent.2003.12.007

    Abstract

    Using a human capital perspective, we investigated the relationship between the education and experience of the top management teams of venture capital firms (VCFs) and the firms' performance. We found that although general human capital had a positive association with the proportion of portfolio companies that went public [initial public offering (IPO)], specific human capital did not. However, we did find that specific human capital was negatively associated with the proportion of portfolio companies that went bankrupt. Interestingly, some findings were contrary to expectations from a human capital perspective, specifically the relationship between general human capital and the proportion of portfolio companies that went bankrupt. Future research is suggested.

    Details

    Item Type Articles
    CreatorsDimov, D. P.and Shepherd, D. A.
    DOI10.1016/j.jbusvent.2003.12.007
    DepartmentsSchool of Management
    Publisher StatementDimov_J_Business_Venturing_2005_20_1_1.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 20, issue 1, 2005, DOI 10.1016/j.jbusvent.2003.12.007
    RefereedYes
    StatusPublished
    ID Code32472

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