Venture governance as a syndicate

Dennis Gan and Truls Erikson

Journal of Business Venturing Insights, 2022, vol. 18, issue C

Abstract: Acquisition as a means to achieving growth is a common practice among established firms. Increasingly, we are witnessing start-ups following in the footsteps of these firms, acquiring other start-ups for inorganic growth. This paper analyses this phenomenon from the point of view of the acquiree, seeing venture governance as a syndicate drawing on relational pluralism. In the current study, we conceive of relational pluralism not as a safeguarding mechanism, but as a facilitating one. As such, we regard multiple interlocking board ties as a form of a syndicate and address the mediating role of a portfolio of such ties. That is, we not only show how a portfolio of board interlocking ties contributes to mediate the process of achieving growth by being acquired by another firm, but we also point to a leadership structure facilitating such an inorganic growth mode.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jobuve:v:18:y:2022:i:c:s2352673422000282

DOI: 10.1016/j.jbvi.2022.e00330

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