EFFECTS OF INNOVATIVENESS AND VENTURE STAGE ON VENTURE CAPITALIST-ENTREPRENEUR RELATIONS

被引：18

作者：

SAPIENZA, HJ ^{[1
]}

AMASON, AC ^{[1
]}

机构：

[1] MISSISSIPPI STATE UNIV,COLL BUSINESS & IND,MISSISSIPPI STATE,MS 39762

来源：

INTERFACES | 1993年 / 23卷 / 06期

关键词：

D O I：

10.1287/inte.23.6.38

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

Innovative new ventures constitute a disproportionately large source of economic growth, and the amount of venture capital flowing into such ventures is increasing. A key component in the success of venture-capital-backed firms is the relationship between the lead venture capitalist (VC) and the venture's founding entrepreneur (E). We examined the impact of innovativeness and venture stage on VC-E relations in 51 venture-capital-backed firms and found: (1) greater marketing innovativeness in ventures associated with greater openness in VC-E pairs, (2) greater technological innovativeness in ventures associated with greater conflict in VC-E pairs, and (3) more frequent VC-E interaction in earlier stage ventures. We found that the relationship between technological innovativeness and openness of VC-E relations depended upon the venture's stage.

引用

页码：38 / 51

页数：14

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