TY - JOUR
T1 - Human capital theory and venture capital firms
T2 - exploring "home runs" and "strike outs"
AU - Dimov, Dimo P.
AU - Shepherd, Dean A.
PY - 2005/1/1
Y1 - 2005/1/1
N2 - 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.
AB - 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.
UR - http://www.scopus.com/inward/record.url?scp=8144229493&partnerID=8YFLogxK
UR - http://dx.doi.org/10.1016/j.jbusvent.2003.12.007
U2 - 10.1016/j.jbusvent.2003.12.007
DO - 10.1016/j.jbusvent.2003.12.007
M3 - Article
AN - SCOPUS:8144229493
SN - 0883-9026
VL - 20
SP - 1
EP - 21
JO - Journal of Business Venturing
JF - Journal of Business Venturing
IS - 1
ER -