VC Syndication in the DACH Region: A Strategic Mean to Ensure Firm Survival.

摘要: This study proposes a new perspective to explain what drives venture capital (VC) firms located in the German-speaking countries of EU, so-called DACH region, engage syndication behaviour. By taking context-sensitive approach, it postulates that these VC are driven behaviour by need ensure future firm survival. Drawing upon resource dependence- , as well signalling theory, conceptual framework is developed this reasoning, suggesting environments characterized risk averse and inexperienced investors respect capital, face increased difficulties collect sufficient for existence. Especially those exhibiting unfavourable characteristics, alienating hesitant even more, an accelerated business failure. investigates which characteristics serve region indeed need-driven. It firm’s early stage- dispersed industry focus, low access financial resources, small HR capacity, opportunity establish informal ties significantly influence propensity syndicate. Applying multiple linear regression, findings shows its resources have positive influence, whereas human capacity alternative opportunities negative on decision