全球联系，地方影响：国际辛迪加经验对风险投资的持久影响

IF 7.9 1区管理学 Q1 BUSINESS

Entrepreneurship Theory and Practice Pub Date : 2025-09-04 DOI:10.1177/10422587251362900

Suting Hong, Massimiliano Guerini, Haemin Dennis Park

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引用次数: 0

摘要

我们研究了国内风险投资公司与知名外国风险投资公司的辛迪加经验如何提高其随后资助的创业公司成功退出的可能性。我们确定了两种互补的理论机制：(a)国内风险投资公司可以获得知名外国风险投资公司的认证，从而改善获得优质投资机会的机会；(b)他们可以向知名外国风险投资公司学习，以更好地选择和培育风险投资公司。此外，银团经验的积极影响在促进投资组合公司在国外的退出方面尤为明显。我们的研究结果强调了国内风险投资公司从与知名外国风险投资公司的合作中获得的持久利益。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Global Connections, Local Impacts: The Enduring Effects of International Syndication Experience on Venture Capital Investments

We investigate how a domestic venture capital (VC) firm’s syndication experience with reputable foreign VC firms improves its likelihood of achieving successful exits for entrepreneurial firms that it subsequently funds. We identify two complementary theoretical mechanisms: (a) domestic VC firms can gain certification from reputable foreign VC firms that improves access to superior investment opportunities and (b) they can learn from reputable foreign VC firms to better select and nurture ventures. Furthermore, the positive impact of syndication experience is particularly pronounced in facilitating exits for portfolio companies in foreign countries. Our findings highlight the enduring benefits that domestic VC firms gain from partnerships with reputable foreign VC firms.

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来源期刊

Entrepreneurship Theory and Practice BUSINESS-

CiteScore

19.00

自引率

12.40%

发文量

期刊介绍： Entrepreneurship Theory and Practice (ETP) is an interdisciplinary scholarly journal dedicated to conceptual and empirical research that advances, tests, or extends theory relating to entrepreneurship in its broadest sense. Article Topics: Topics covered in ETP include, but are not limited to: New Venture Creation, Development, Growth, and Performance Characteristics, Behaviors, and Types of Entrepreneurs Small Business Management Family-Owned Businesses Corporate, Social, and Sustainable Entrepreneurship National and International Studies of Enterprise Creation Research Methods in Entrepreneurship Venture Financing Content: The journal publishes articles that explore these topics through rigorous theoretical development, empirical analysis, and methodological innovation. ETP serves as a platform for advancing our understanding of entrepreneurship and its implications for individuals, organizations, and society.