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Human capital theory and venture capital firms:exploring "home runs" and "strike outs"

Published on Jan 1, 2005in Journal of Business Venturing6.33
· DOI :10.1016/j.jbusvent.2003.12.007
Dimo Dimov23
Estimated H-index: 23
(IE University),
Dean A. Shepherd72
Estimated H-index: 72
(CU: University of Colorado Boulder)
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Abstract
Using a human capital perspective, we investigated the relationship between the education and experience of the top management teams of venture capital firms (VCFs) and the firms' performance. We found that although general human capital had a positive association with the proportion of portfolio companies that went public [initial public offering (IPO)], specific human capital did not. However, we did find that specific human capital was negatively associated with the proportion of portfolio companies that went bankrupt. Interestingly, some findings were contrary to expectations from a human capital perspective, specifically the relationship between general human capital and the proportion of portfolio companies that went bankrupt. Future research is suggested.
  • References (45)
  • Citations (320)
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References45
Newest
#1Dean A. Shepherd (CU: University of Colorado Boulder)H-Index: 72
#2Richard Ettenson (ASU: Arizona State University)H-Index: 9
Last.Andrew Crouch (Bond University)H-Index: 3
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#1Sandy J. Wayne (UIC: University of Illinois at Chicago)H-Index: 39
#2Robert C. Liden (UIC: University of Illinois at Chicago)H-Index: 52
Last.Isabel K. Graf (UIC: University of Illinois at Chicago)H-Index: 2
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#1Roman Kapuscinski (RPI: Rensselaer Polytechnic Institute)H-Index: 1
#2Sridhar R. TayurH-Index: 30
Last.Dean A. Shepherd (RPI: Rensselaer Polytechnic Institute)H-Index: 72
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#1D. K. Sarasvathy (CMU: Carnegie Mellon University)H-Index: 1
#2Herbert A. Simon (CMU: Carnegie Mellon University)H-Index: 136
Last.Lester B. Lave (CMU: Carnegie Mellon University)H-Index: 45
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Cited By320
Newest
#1Bernard Kwamena Cobbina Essel (Sapienza University of Rome)
#2Faizal Adams (KNUST: Kwame Nkrumah University of Science and Technology)H-Index: 2
Last.Kwadwo Amankwah (KNUST: Kwame Nkrumah University of Science and Technology)
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#1Dafna Kariv (College of Management Academic Studies)H-Index: 7
#2Luis Cisneros (NAB: National Australia Bank)H-Index: 2
Last.Mihai Ibanescu (NAB: National Australia Bank)
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#1Michael J. Mannor (ND: University of Notre Dame)H-Index: 9
#2Fadel K. Matta (UGA: University of Georgia)H-Index: 6
Last.Jim Davis (USU: Utah State University)H-Index: 3
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