Human capital and the internationalization of venture capital firms

Sophie Manigart, V. Collewaert (), Mike Wright, S. Pruthi, A. Lockett, H. Bruining, U. Hommel and H. Landstrom

Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium from Ghent University, Faculty of Economics and Business Administration

Abstract: We examine the neglected area of internationalisation by VCs. Using a representative sample of 195 VCs, we show that the decision of a European VC firm to invest internationally is driven by its human resources. Having more VC executives in general and more VC executives with previous international experience in specific, results in a higher probability of investing internationally. In contrast, more VC executives with experience in the VC industry or with an engineering background lead to a higher probability of remaining domestic.

New Economics Papers: this item is included in nep-ent and nep-hrm
Date: 2006-01
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Working Paper: Human capital and the internationalization of venture capital firms (2006)
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Persistent link: http://EconPapers.repec.org/RePEc:rug:rugwps:06/363

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