Success is good but failure is not so bad either: Serial entrepreneurs and venture capital contracting

Volume: 58, Pages: 624 - 649
Published: Oct 1, 2019
Abstract
I analyze prior entrepreneurship as a determinant of financial contracting with venture capitalists and find more company-favorable contracts in startups founded by serial entrepreneurs. Repeat founders and other insiders retain greater board control and also suffer less equity dilution in their dealings with VCs. Second, serial founders retain their CEO positions more often. Third, startups founded by serial entrepreneurs obtain higher...
Paper Details
Title
Success is good but failure is not so bad either: Serial entrepreneurs and venture capital contracting
Published Date
Oct 1, 2019
Volume
58
Pages
624 - 649
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