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dc.contributor.authorLai, Richard
dc.date.accessioned2024-01-26T12:55:11Z
dc.date.available2024-01-26T12:55:11Z
dc.date.issued2005
dc.identifier.citationRichard Lai, 'Venture Capital Syndicate Formation and Competition: Evidence from Biotechnology', Senate Hall, 2005, International Journal of Entrepreneurship Education, 57-80
dc.identifier.issn1649-2269
dc.identifier.urihttp://hdl.handle.net/2262/104434
dc.description.abstractVenture capital firms (VCs) form syndicates that compete to invest in deals. Does more competition makes it less likely that VCs choose syndicate partners based on past ties? Using over 200,000 observations on how VCs choose each other in 572 biotech deals in Massachusetts from 1967 through 2004, I find the answer is: yes. The theory of embeddedness argues that past ties can explain the pattern of who works with who. I interpret my finding as demarcating when embeddedness might apply. When competition is intense, economic forces might be a better explanation of who works with who.en
dc.language.isoenen
dc.publisherSenate Hallen
dc.relation.ispartofseriesInternational Journal of Entrepreneurship Educationen
dc.relation.haspartVol. 3, Issue 1, 2005eng
dc.rightsY
dc.sourceInternational Journal of Entrepreneurship Education
dc.subjectventure capital|private equity|syndicates|ties|embeddedness|competition|biotechnologyen
dc.titleVenture Capital Syndicate Formation and Competition: Evidence from Biotechnology
dc.typeJournal article
dc.status.refereedYes
dc.publisher.placeDublin
dc.rights.ecaccessrightsopenAccess
dc.format.extentpagination57-80


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