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http://hdl.handle.net/10419/24553
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| Title: | | You can't make an omelette without breaking eggs: the impact of venture capitalists on executive turnover  |
| Authors: | | Heger, Diana Tykvová, Tereza |
| Issue Date: | | 2007 |
| Series/Report no.: | | ZEW Discussion Papers 07-003 |
| Abstract: | | We present evidence on venture capitalists? (VCs) impact on turnover of executives for a sample of nearly 47,000 German high-tech start-ups between 1995 and 2004. We confirm that the presence of VCs increases the probability of a change in the initial executive team. Additionally, we take a closer look on the subsample of venturebacked firms. We find that a small distance between the VCs and the companies they finance and a larger total stake in the company owned by VCs increase the probability of changes in the initial executive teams. |
| Subjects: | | Venture Capital Executive Turnover |
| JEL: | | G32 G24 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des ZEW ZEW Discussion Papers
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