Venture Capitalists' Investment and Reinvestment Decisions
dc.contributor.advisor | Baum, J. Robert | en_US |
dc.contributor.author | Khanin, Dmitry | en_US |
dc.contributor.department | Management and Organization | en_US |
dc.contributor.publisher | Digital Repository at the University of Maryland | en_US |
dc.contributor.publisher | University of Maryland (College Park, Md.) | en_US |
dc.date.accessioned | 2006-09-12T05:55:44Z | |
dc.date.available | 2006-09-12T05:55:44Z | |
dc.date.issued | 2006-08-03 | en_US |
dc.description.abstract | Prior research (Wells, 1974; MacMillan, 1985, 1987; Shepherd, 1999) has focused on examining VCs' decision making at the pre-investment stage. Few studies have investigated VCs' financing decisions at the post-investment stage, and the differences between investment and reinvestment. Some scholars claimed that VCs are more likely to provide a venture with initial funding than subsequent financing (Dean & Guglierano, 1990). Others argued the opposite (Ryan, 1994; Guler, 2003). My dissertation seeks to answer this question empirically. I surveyed 40 VCs either in person or over the phone, and asked them to assess how some new incremental information will affect the likelihood that they will invest in a venture at the pre-investment vs. post-investment stage. The results have demonstrated that VCs assess the same positive information more positively at the post-investment stage compared to the pre-investment stage and hence, are more likely to provide a venture with additional than with initial funding. | en_US |
dc.format.extent | 263557 bytes | |
dc.format.mimetype | application/pdf | |
dc.identifier.uri | http://hdl.handle.net/1903/3858 | |
dc.language.iso | en_US | |
dc.subject.pqcontrolled | Business Administration, Management | en_US |
dc.subject.pqcontrolled | Business Administration, Management | en_US |
dc.title | Venture Capitalists' Investment and Reinvestment Decisions | en_US |
dc.type | Dissertation | en_US |
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