Venture capital and the professionalization of start-up firms: Empirical evidence
Publication
, Journal Article
Hellmann, T; Puri, M
Published in: Journal of Finance
January 1, 2002
This paper examines the impact venture capital can have on the development of new firms. Using a hand-collected data set on Silicon Valley start-ups, we find that venture capital is related to a variety of professionalization measures, such as human resource policies, the adoption of stock option plans, and the hiring of a marketing VP. Venture-capital-backed companies are also more likely and faster to replace the founder with an outside CEO, both in situations that appear adversarial and those mutually agreed to. The evidence suggests that venture capitalists play roles over and beyond those of traditional financial intermediaries.
Duke Scholars
Altmetric Attention Stats
Dimensions Citation Stats
Published In
Journal of Finance
DOI
ISSN
0022-1082
Publication Date
January 1, 2002
Volume
57
Issue
1
Start / End Page
169 / 197
Related Subject Headings
- Finance
- 3801 Applied economics
- 3502 Banking, finance and investment
- 1502 Banking, Finance and Investment
Citation
APA
Chicago
ICMJE
MLA
NLM
Hellmann, T., & Puri, M. (2002). Venture capital and the professionalization of start-up firms: Empirical evidence. Journal of Finance, 57(1), 169–197. https://doi.org/10.1111/1540-6261.00419
Hellmann, T., and M. Puri. “Venture capital and the professionalization of start-up firms: Empirical evidence.” Journal of Finance 57, no. 1 (January 1, 2002): 169–97. https://doi.org/10.1111/1540-6261.00419.
Hellmann T, Puri M. Venture capital and the professionalization of start-up firms: Empirical evidence. Journal of Finance. 2002 Jan 1;57(1):169–97.
Hellmann, T., and M. Puri. “Venture capital and the professionalization of start-up firms: Empirical evidence.” Journal of Finance, vol. 57, no. 1, Jan. 2002, pp. 169–97. Scopus, doi:10.1111/1540-6261.00419.
Hellmann T, Puri M. Venture capital and the professionalization of start-up firms: Empirical evidence. Journal of Finance. 2002 Jan 1;57(1):169–197.
Published In
Journal of Finance
DOI
ISSN
0022-1082
Publication Date
January 1, 2002
Volume
57
Issue
1
Start / End Page
169 / 197
Related Subject Headings
- Finance
- 3801 Applied economics
- 3502 Banking, finance and investment
- 1502 Banking, Finance and Investment