31 research outputs found
The Effect of Venture Capital Equity Concentration on the Investment Performance
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ผ๋ฌธ (์์ฌ)-- ์์ธ๋ํ๊ต ๋ํ์ : ๊ฒฝ์ํ๊ณผ ๊ฒฝ์ํ์ ๊ณต, 2016. 8. ๋ฐ๋จ๊ท.This paper explores the effect of equity concentration among venture capital syndicate members on the investment performance. While the importance of equity split on the early stage of a venture firm is widely perceived among business practitioners, the effect of the level of equal/unequal distribution of equity shares, particularly among venture capital syndicate members, has not been empirically explored. Drawing on theories of power and hierarchy, I propose that the higher level of equity concentration will have a negative effect on the investment performance. I also hypothesize that familiarity among syndicate members and being in a later investment stage will moderate the negative effect of equity concentration. I find strong empirical support for the hypotheses.Introduction 3
Theory and Hypotheses 5
Speed and Search 6
Hierarchy 7
Start-up and Venture Capital Context 11
Methods 14
Sample 15
Dependent Variables 15
Independent Variables 17
Control Variables 18
Model Specification 19
Results 20
Discussion 22
References 29
๊ตญ๋ฌธ ์ด๋ก 36Maste
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ผ๋ฌธ(์์ฌ)--์์ธ๋ํ๊ต ๋ํ์ :์ํ์์ํ๊ณผ,2004.Maste
Effects of Tai chi exercise program applying laughter therapy on blood pressure, stress response and depression in elderly with hypertension
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ผ๋ฌธ (๋ฐ์ฌ)-- ์์ธ๋ํ๊ต ๋ํ์ : ๊ฐํธํ๊ณผ, 2011.8. ๊น๊ธ์.Docto