- Abstract:
-
We examine the effect of trust in venture capital. Our theory predicts a positive relationship of trust with investment, but a negative relationship with success. Using a hand-collected dataset of European venture capital deals, we find that the Eurobarometer measure of trust among nations positively predicts venture capital firms’ investment decisions, but that it has a negative correlation with successful exits. Our theory also predicts that earlier stage investments require higher trust, t...
Expand abstract - Publication status:
- Published
- Peer review status:
- Peer reviewed
- Version:
- Accepted Manuscript
- Files:
-
-
(pdf, 352.5KB)
-
(pdf, 401.9KB)
-
- Publisher copy:
- 10.1093/rfs/hhw023
-
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- Publisher:
- Oxford University Press Publisher's website
- Journal:
- Review of Financial Studies Journal website
- Volume:
- 29
- Issue:
- 9
- Pages:
- 2283-2318
- Publication date:
- 2016-05-24
- DOI:
- EISSN:
-
1465-7368
- ISSN:
-
0893-9454
- URN:
-
uuid:9b206626-115a-441e-8629-4b996d0b718f
- Source identifiers:
-
610194
- Local pid:
- pubs:610194
- Paper number:
- 9
- Copyright holder:
- Bottazzi et al.
- Copyright date:
- 2016
- Notes:
-
Copyright © The Author 2016. Published by Oxford University Press on behalf of The Society for Financial Studies. This is the accepted manuscript version of the article. The final version is available online from Oxford University Press at: https://doi.org/10.1093/rfs/hhw023
Journal article
The importance of trust for investment: evidence from venture capital
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Funding
W. Maurice Young Centre for Entrepreneurship and Venture Capital Research
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