Journal article
The importance of trust for investment: evidence from venture capital
- Abstract:
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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...
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- Publication status:
- Published
- Peer review status:
- Peer reviewed
Actions
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- Files:
-
-
(Accepted manuscript, pdf, 401.9KB)
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(Accepted manuscript, pdf, 352.5KB)
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- Publisher copy:
- 10.1093/rfs/hhw023
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Authors
Funding
W. Maurice Young Centre for Entrepreneurship and Venture Capital Research
More from this funder
Bibliographic Details
- 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
- Acceptance date:
- 2016-03-15
- DOI:
- EISSN:
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1465-7368
- ISSN:
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0893-9454
- Source identifiers:
-
610194
Item Description
- Pubs id:
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pubs:610194
- UUID:
-
uuid:9b206626-115a-441e-8629-4b996d0b718f
- Local pid:
- pubs:610194
- Deposit date:
- 2016-03-16
Terms of use
- 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
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