What do entrepreneurs pay for venture capital affiliation?

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This study evaluates the certification and value-added roles of reputable venture capitalists (VCs). Using a novel sample of entrepreneurial start-ups with multiple financing offers, I analyze financing offers made by competing VCs at the first professional round of start-up funding, holding characteristics of the start-up fixed. Offers made by VCs with a high reputation are three times more likely to be accepted, and high reputation VCs acquire start-up equity at a 10-14% discount. The evidence suggests that VCs' "extra-financial" value may be more distinctive than their functionally equivalent financial capital. These extra-financial services can have financial consequences..Hardcopy

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Ketersediaan

Call Number	Location	Available
IM1960529	PSB lt.dasar - Pascasarjana	1

Informasi Detail

Judul Seri

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No. Panggil

IM1960529

Penerbit

: The American Finance Association.,

Deskripsi Fisik

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Bahasa

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

Entrepreneurs
Venture capital
Value added
Correlation analysis
Venture capital companies
studies
Reputations
Startups

Info Detail Spesifik

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Pernyataan Tanggungjawab

pa

Versi lain/terkait

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