Croce, AnnalisaMartí Pellón, José PedroMurtinu, Samuele2023-12-212023-12-212012Croce, 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.2012.06.001.0883-902610.1016/j.jbusvent.2012.06.001https://hdl.handle.net/20.500.14352/91656We 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.engAttribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/journal article1873-2003https://doi.org/10.1016/j.jbusvent.2012.06.001https://www.sciencedirect.com/science/article/abs/pii/S0883902612000705open access336.7G24D24M13C23Venture capitalEntrepreneurial firmsProductivityScreeningValue addedImprinting effectEmpresasFinanzas5304.06 Dinero y Operaciones Bancarias5306 Económica del Cambio Tecnológico