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Venture capital as a network for hum...

Carvalho, Antonio Gledson de.

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Venture capital as a network for human resources allocation.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Venture capital as a network for human resources allocation./
Author:	Carvalho, Antonio Gledson de.
Description:	85 p.
Notes:	Adviser: Charles Calomiris.
Contained By:	Dissertation Abstracts International58-10A.
Subject:	Business Administration, Banking. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9812549
ISBN:	0591634015

Venture capital as a network for human resources allocation.
Carvalho, Antonio Gledson de.

Venture capital as a network for human resources allocation. - 85 p.

Adviser: Charles Calomiris.

Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 1997.

This thesis addresses the question of whether venture capital adds value within the portfolio firms; i.e., if it brings non-financial benefits to the firms it funds. In this thesis, I propose that venture capital adds value because venture capitalists are able to transfer unique and valuable information across firms. Furthermore, sources of funds other than venture capital are unable to systematically transfer the same information. More specifically, I suggest that venture capitalists transfer information about senior managers across firms. For this transfer to exist on a significant scale, it is necessary that venture capitalists operate a network, within which they are involved in locating and relocating managers.

ISBN: 0591634015Subjects--Topical Terms:

1018458
Business Administration, Banking.

Venture capital as a network for human resources allocation.
LDR:02910nam 2200313 a 45 001 926572
005 20110422
008 110422s1997 eng d
020 $a 0591634015
035 $a (UnM)AAI9812549
035 $a AAI9812549
040 $a UnM $c UnM
100 1 $a Carvalho, Antonio Gledson de. $3 1250156
245 1 0 $a Venture capital as a network for human resources allocation.
300 $a 85 p.
500 $a Adviser: Charles Calomiris.
500 $a Source: Dissertation Abstracts International, Volume: 58-10, Section: A, page: 3986.
502 $a Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 1997.
520 $a This thesis addresses the question of whether venture capital adds value within the portfolio firms; i.e., if it brings non-financial benefits to the firms it funds. In this thesis, I propose that venture capital adds value because venture capitalists are able to transfer unique and valuable information across firms. Furthermore, sources of funds other than venture capital are unable to systematically transfer the same information. More specifically, I suggest that venture capitalists transfer information about senior managers across firms. For this transfer to exist on a significant scale, it is necessary that venture capitalists operate a network, within which they are involved in locating and relocating managers.
520 $a Results obtained through a nationwide survey of venture capitalists confirm the existence of such a network: the majority of the respondents affirm that it is common for them (1) to act on suggestions from their colleagues when hiring managers; and (2) to recommend managers to other venture capitalists. In addition, a significant proportion confirm that they adopt the strategy of recycling efficient managers in their portfolio firms.
520 $a Econometric analysis shows that the factors relevant to explain the intensity with which venture capitalists network include: (1) the value of the information transmitted though the network; (2) the degree of risk that venture capitalists attribute their investments; (3) the size of fund; (4) how difficult venture capitalists find it to entice executives to manage firms funded with their capital; and (5) the gains that the venture capitalists who suggest managers can obtain when enticing managers to accept job offers.
520 $a Moreover, some venture capitalists develop the reputation of assisting managers with job placement. The fact that this reputation is important to explain their decisions to network constitutes evidence that venture capital can attract managers by reducing the firm-specific managerial risk.
590 $a School code: 0090.
650 4 $a Business Administration, Banking. $3 1018458
650 4 $a Business Administration, Management. $3 626628
690 $a 0454
690 $a 0770
710 2 0 $a University of Illinois at Urbana-Champaign. $3 626646
773 0 $t Dissertation Abstracts International $g 58-10A.
790 $a 0090
790 1 0 $a Calomiris, Charles, $e advisor
791 $a Ph.D.
792 $a 1997
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9812549