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A Peer-reviewed scientific articles/A1 Journal article (refereed), original research

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Do venture capital firms benefit from a presence on boards of directors of mature public companies?, Journal of Corporate Finance April (2017). Hasan, Iftekhar; Khurshed, Arif; Mohamed, Abdulkadir; Wang, Fan


Category A Peer-reviewed scientific articles
Sub-category A1 Journal article (refereed), original research
auki Internal authors
All authors as text Hasan, Iftekhar; Khurshed, Arif; Mohamed, Abdulkadir; Wang, Fan 
Number of authors 4 
Status Published
Year of publication 2018 
Date 29.12.2017 
Name of article Do venture capital firms benefit from a presence on boards of directors of mature public companies? 
Name of journal Journal of Corporate Finance
Volume of issue 49 
Number of issue April 
Pages 125-140 
Abstract This paper examines the benefits to venture capital firms of their officers holding directorships in mature public companies in terms of fundraising and investment performance. Our empirical results show that venture capital firms raise more funds, set higher fund-raising targets, and are more likely to successfully exit their investments post-appointment of their officers to boards of directors of S&P 1500 companies. Directorship status in mature public firms provides venture capital firms with enhanced networks, visibility, and credibility, all of which facilitate their fundraising activities. In addition, the knowledge, expertise, and experience acquired through holding directorships in mature public firms are beneficial for their portfolio companies, as measured by the likelihood of successful exits.
Free text descriptor in Finnish yritykset; johtokunnat; riskipääoma; riskirahoitus; riskipääomasijoitukset; rahoitus 
Free text descriptor in English Venture capital; Board; Directorships; Public companies; Exits 
JEL-codes G24; G3 
ISSN / e-ISSN 0929-1199 
auki Internet addresses