Multistage Selection and the Financing of New Ventures

Published Online:https://doi.org/10.1287/mnsc.1050.0478

References

  • Acs Z. J., Audretsch D. B. Small-firm entry in US manufacturing. Economica (1989) 56(222):255–265CrossrefGoogle Scholar
  • Akaike H. A new look at statistical model identification. IEEE Trans. Automatic Control (1974) AC-19:716–723CrossrefGoogle Scholar
  • Aldrich H.Organizations Evolving (1999) (Sage Publications, London, UK) Google Scholar
  • Amit R., Glosten L., Muller E. Entrepreneurial ability, venture investments, and risk sharing. Management Sci. (1990) 36(10):1232–1245LinkGoogle Scholar
  • Bantel K. A. Technology-based “adolescent” firm configurations: Strategy identification, context, and performance. J. Bus. Venturing (1998) 13:105–230CrossrefGoogle Scholar
  • Bates T. Entrepreneur human capital inputs and small business. Rev. Econom. Statist. (1990) 72(4):551–559CrossrefGoogle Scholar
  • Baum J., McKelvey B.Variations in Organization Science: In Honor of Donald T. Campbell (1999) (Sage, Thousand Oaks, CA) CrossrefGoogle Scholar
  • Baum J., Singh J.The Evolutionary Dynamics of Organizations (1994) (Oxford University Press, New York) CrossrefGoogle Scholar
  • Berk R. A. An introduction to sample selection bias in sociological data. Amer. Sociol. Rev. (1983) 48(3):386–398CrossrefGoogle Scholar
  • Bhide A. Bootstrap finance: The art of start-ups. Harvard Bus. Rev. (1992) 70(6):109–118Google Scholar
  • Bhide A.The Origin and Evolution of New Businesses. (2000) (Oxford University Press, New York) Google Scholar
  • Blossfeld H., Rohwer G.Techniques of Event-History Modeling: A New Approach to Casual Analysis (1995) (Lawrence-Erlbaum Associates, Mahwah, NJ) Google Scholar
  • Bruno A., Tyebjee T. The entrepreneur’s search for capital. J. Bus. Venturing (1985) 1:61–74CrossrefGoogle Scholar
  • Busenitz L., Barney J. Differences between entrepreneurs and managers in large organizations: Biases and heuristics in strategic decision making. J. Bus. Venturing (1997) 12:9–30CrossrefGoogle Scholar
  • Campbell D. Variation and selective retention in socio-cultural evolution. General Systems (1969) 14:69–85Google Scholar
  • Carroll G., Hannan M.The Demography of Corporations and Industries (2000) (Princeton University Press, Princeton, NJ) CrossrefGoogle Scholar
  • Carter N., Gartner W., Reynolds P. Exploring startup sequences. J. Bus. Venturing (1996) 11(3):151–166CrossrefGoogle Scholar
  • Churchill N., Lewis V. Bank lending to new and growing enterprises. J. Bus. Venturing (1986) 1:193–206CrossrefGoogle Scholar
  • Cooper A., Woo C., Dunkelberg W. Entrepreneurs’ perceived changes for success. J. Bus. Venturing (1988) 3:97–108CrossrefGoogle Scholar
  • de Meza D., Southey C. The borrower’s curse: Optimism, finance, and entrepreneurship. Econom. J. (1996) 106(435):375–386Google Scholar
  • Frees E.Longitudinal and Panel Data: Analysis and Applications in the Social Sciences (2004) (Cambridge University Press, New York) CrossrefGoogle Scholar
  • Fried V., Hisrich R. Toward a model of venture capital investment decision making. Financial Management (1994) 23(3):28–37CrossrefGoogle Scholar
  • Gerhart B., Wright P., McMahan G. Measurement error in research on the human resources and firm performance relationship: Further evidence and analysis. Personnel Psych. (2000) 53:855–872CrossrefGoogle Scholar
  • Gompers P. The rise and fall of venture capital. Bus. Econom. Hist. (1994) 23(2):1–25Google Scholar
  • Gompers P. Optimal investment, monitoring, and the staging of venture capital. J. Finance (1995) 50(5):1461–1489CrossrefGoogle Scholar
  • Gompers P., Lerner J.The Venture Capital Cycle (1999) (MIT Press, Cambridge, MA) Google Scholar
  • Hall J., Hofer C. Venture capitalist’s decision criteria in new venture evaluation. J. Bus. Venturing (1993) 8:25–42CrossrefGoogle Scholar
  • Hannan M., Freeman J. The population ecology of organizations. Amer. J. Sociol. (1977) 82:929–964CrossrefGoogle Scholar
  • Heckman J. Sample selection as a specification error. Econometrica (1979) 47(1):153–162CrossrefGoogle Scholar
  • Highfield R., Smiley R. New business starts and economic activity. Internat. J. Indust. Organ. (1987) 5:51–66CrossrefGoogle Scholar
  • Hogan D., Kitagawa E. The impact of social status, family structure, and neighborhood on the fertility of black adolescents. Amer. J. Sociol. (1985) 90(4):825–855CrossrefGoogle Scholar
  • Hsu D. What do entrepreneurs pay for venture capital affiliation? J. Finance (2004) 59(4):1805–1844CrossrefGoogle Scholar
  • Hustedde R., Pulver G. Factors affecting equity capital acquisition: The demand side. J. Bus. Venturing (1992) 7:363–374CrossrefGoogle Scholar
  • Katz J., Gartner W. Properties of emerging organizations. Acad. Management Rev. (1988) 13(3):429–441CrossrefGoogle Scholar
  • Klepper S., Nagin D., Tierney L., Blumstein A., Cohen J., Martin S., Tonry M. Discrimination in the criminal justice system: A critical appraisal of the literature. Research on Sentencing: The Search for Reform (1983) Vol. 2(National Academy Press, Washington, DC) 55–128Google Scholar
  • Langolis R., Everett M., Magnusson L. What is evolutionary economics? Evolutionary and Neo-Schumpeterian Approaches to Economics (1994) (Kluwer Academic Publishers, Boston, MA) 11–38CrossrefGoogle Scholar
  • Lee L. Generalized econometric models with selectivity. Econometrica (1983) 51:507–512CrossrefGoogle Scholar
  • Lerner J. The syndication of venture capital investments. Financial Management (1994) 23(3):16–27CrossrefGoogle Scholar
  • Levin R., Klevorick A., Nelson R., Winter S. Appropriating the returns from industrial research and development. Brookings Papers Econom. Activity (1987) 3:783–831CrossrefGoogle Scholar
  • Little R., Rubin D.Statistical Analysis with Missing Data (2002) (John Wiley & Sons, New York) CrossrefGoogle Scholar
  • MacMillan I., Narasimha P. Research notes and communications: Characteristics distinguishing from unfunded business plans evacuated by venture capitalists. Strategic Management J. (1987) 8:579–585CrossrefGoogle Scholar
  • MacMillan I., Siegel R., Narasimha P. Criteria used by venture capitalists to evaluate new venture proposals. J. Bus. Venturing (1985) 1:119–128CrossrefGoogle Scholar
  • Meyer J., Baum J. A. C., Singh J. V. Turning evolution inside the organization. Evolutionary Dynamics of Organizations (1994) (Oxford University Press, Oxford, UK) 109–116Google Scholar
  • Mohr L. B.Explaining Organizational Behavior (1982) (Jossey-Bass Publishers, Washington, DC) Google Scholar
  • Nelson R. R., Winter S. G.An Evolutionary Theory of Economic Change (1982) (Belknap Press of Harvard University Press, Cambridge, MA) Google Scholar
  • Reynolds P., White S.The Entrepreneurial Process (1997) (Greenwood Press, Greenwich, CT) Google Scholar
  • Romanelli E. Environments and strategies of organization start-up: Effects on early survival. Admin. Sci. Quart. (1989) 34:369–387CrossrefGoogle Scholar
  • Sahlman W. The structure and governance of venture capital organizations. J. Financial Econom. (1990) 27:473–521CrossrefGoogle Scholar
  • Sapienza H. J., Gupta A. K. Impact of agency risks and task uncertainty on venture capitalist-CEO interaction. Acad. Management J. (1994) 37(6):1618–1632CrossrefGoogle Scholar
  • Sarasvathy S., Simon H., Lave L. B. Perceiving and managing business risks: Differences between entrepreneurs and bankers. J. Econom. Behavior Organ. (1998) 33(2):207–226CrossrefGoogle Scholar
  • Schwab D. P.Research Methods for Organizational Studies (2005) 2nd ed.(Lawrence Erlbaum Associates, Mahwah, NJ) Google Scholar
  • Shane S. Prior knowledge and the discovery of entrepreneurial opportunities. Organ. Sci. (2000) 11(4):448–469LinkGoogle Scholar
  • Shane S., Cable D. Network ties, reputation, and the financing of new ventures. Management Sci. (2002) 48(3):364–381LinkGoogle Scholar
  • Shane S., Venkataraman S. The promise of entrepreneurship as a field of research. Acad. Management Rev. (2000) 26(1):13–17CrossrefGoogle Scholar
  • Shankar V., Carpenter G., Krishnamurthi L. The advantages of entry in the growth stage of the product life cycle: An empirical analysis. J. Marketing Res. (1999) 36:269–276CrossrefGoogle Scholar
  • Sorenson O., Stuart T. Syndication networks and the spatial distribution of venture capital investments. Amer. J. Sociol. (2001) 106(6):1546–1588CrossrefGoogle Scholar
  • Tversky A., Kahneman D. Judgment under uncertainty: Heuristics and biases. Science (1974) 185:1124–1131CrossrefGoogle Scholar
  • Uzzi B., Gillespie J., Leenders R., Gabbay S. M. Corporate social capital and the cost of financial capital: An embedded approach. Corporate Social Capital Liability (1999) (Kluwer Academic Publishers, Boston, MA) 446–459CrossrefGoogle Scholar
  • Venkataraman S., Katz J., Brockhaus R. The distinctive domain of entrepreneurship research: An editor’s perspective. Advances in Entrepreneurship, Firm Emergence, and Growth (1997) Vol. 3(JAI Press, Greenwich, CT) 119–138Google Scholar
  • Yamaguchi K.Event History Analysis (1991) (Sage Publications, Newbury Park, CA) Google Scholar
  • Zahra S. A., Ireland R. D., Hitt M. A. International expansion by new venture firms: International diversity, mode of market entry, technological learning, and performance. Acad. Management J. (2000) 43(5):925–950CrossrefGoogle Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.