The Impact of Investment Networks on Venture Capital Firm Performance: A Contingency Framework

Cristiano Bellavitis, Igor Filatotchev, Vangelis Souitaris

Research output: Contribution to journalArticlepeer-review

19 Scopus citations

Abstract

Venture capital (VC) syndicates involve repeated transactions among partners and therefore possess network-like characteristics. Although networks provide access to important externalities, extant literature has not studied the effects of the focal firm's resource needs on performance benefits arising from different network structures. We investigate the impact of two proxies for firm-level resources, namely maturity and status, on the relationship between network cohesion and VC performance. We find that mature and high status VCs benefit less from network cohesion. We also show that maturity and status simultaneously determine the performance effects of network cohesion.

Original languageEnglish (US)
Pages (from-to)102-119
Number of pages18
JournalBritish Journal of Management
Volume28
Issue number1
DOIs
StatePublished - Jan 1 2017
Externally publishedYes

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Strategy and Management
  • Management of Technology and Innovation

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