Explaining venture capital firms' syndication behaviour: a longitudinal study

Dirk De Clercq, Dimo P. Dimov

Research output: Contribution to journalArticle

37 Citations (Scopus)

Abstract

Using a unique methodological approach, this paper examines the factors related to venture capital firms' (VCFs') involvement in syndication. It is argued that VCFs' investment strategies matters in terms of the extent to which VCFs engage in syndication. Several hypotheses pertaining to VCFs' syndication behaviour are tested based on a longitudinal data set of the realized strategies of 200 US-based VCFs over a 12-year period. Overall, support is found for both knowledge-based and financial arguments for why VCFs engage in syndication. Results are discussed and avenues are provided for future research.
Original languageEnglish
Pages (from-to)243-256
Number of pages14
JournalVenture Capital
Volume6
Issue number4
DOIs
Publication statusPublished - 1 Oct 2004

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