The impact of venture capital on the productivity growth of European entrepreneurial firms: 'Screening' or 'value added' effect?

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dc.contributor.authorCroce, Annalisa
dc.contributor.authorMartí Pellón, José Pedro
dc.contributor.authorMurtinu, Samuele
dc.date.accessioned2023-12-21T09:26:05Z
dc.date.available2023-12-21T09:26:05Z
dc.date.issued2012
dc.description.abstractWe aim to ascertain to what extent the better performance of European venture capital (VC)- backed firms in high-tech industries is due to either ‘screening’ or ‘value added’ provided by VC investors. We compare portfolio firms’ productivity growth before and after the first VC round, using a matched control group as benchmark. We show that productivity growth is not significantly different between VC and non-VC-backed firms before the first round of VC financing, whereas significant differences are found in the first years after the investment event. We also find that the value-adding services provided by VC investors 'imprint' the portfolio firm.en
dc.description.departmentDepto. de Administración Financiera y Contabilidad
dc.description.facultyFac. de Ciencias Económicas y Empresariales
dc.description.refereedTRUE
dc.description.sponsorshipEuropean Commission
dc.description.statuspub
dc.identifier.citationCroce, Annalisa, José Martí, y Samuele Murtinu. «The Impact of Venture Capital on the Productivity Growth of European Entrepreneurial Firms: ‘Screening’ or ‘Value Added’ Effect?» Journal of Business Venturing 28, n.o 4 (julio de 2013): 489-510. https://doi.org/10.1016/j.jbusvent.2012.06.001.
dc.identifier.doi10.1016/j.jbusvent.2012.06.001
dc.identifier.essn1873-2003
dc.identifier.issn0883-9026
dc.identifier.officialurlhttps://doi.org/10.1016/j.jbusvent.2012.06.001
dc.identifier.relatedurlhttps://www.sciencedirect.com/science/article/abs/pii/S0883902612000705
dc.identifier.urihttps://hdl.handle.net/20.500.14352/91656
dc.issue.number4
dc.journal.titleJournal of Business Venturing
dc.language.isoeng
dc.page.final510
dc.page.initial489
dc.publisherElsevier
dc.relation.projectIDinfo:eu-repo/grantAgreement/EC/FP7/217485
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internationalen
dc.rights.accessRightsopen access
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subject.cdu336.7
dc.subject.jelG24
dc.subject.jelD24
dc.subject.jelM13
dc.subject.jelC23
dc.subject.keywordVenture capital
dc.subject.keywordEntrepreneurial firms
dc.subject.keywordProductivity
dc.subject.keywordScreening
dc.subject.keywordValue added
dc.subject.keywordImprinting effect
dc.subject.ucmEmpresas
dc.subject.ucmFinanzas
dc.subject.unesco5304.06 Dinero y Operaciones Bancarias
dc.subject.unesco5306 Económica del Cambio Tecnológico
dc.titleThe impact of venture capital on the productivity growth of European entrepreneurial firms: 'Screening' or 'value added' effect?
dc.typejournal article
dc.type.hasVersionAM
dc.volume.number28
dspace.entity.typePublication
relation.isAuthorOfPublicationd628d18e-31b7-4971-b41a-c381126a3870
relation.isAuthorOfPublication.latestForDiscoveryd628d18e-31b7-4971-b41a-c381126a3870

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