How Does Uncertainty Resolution Affect VC Syndication?
作者： Z. Ayca Altintig , Hsin-Hui Chiu , M. Sinan Goktan
DOI: 10.1111/FIMA.12007
关键词:
摘要: We use the external certification due to FDA 510(k) clearance process in medical device industry as a natural experiment and analyze dynamics of syndicate formation venture capital (VC) firms under various levels uncertainty. test several nonmutually exclusive hypotheses on project selection, second opinion, collusion, diversi fication. Our results suggest that serves an outside reduces uncertainty leading greater amounts flowing into company from larger group investors. also experienced VC are able identify promising projects early without need for or opinion. [ABSTRACT FROM AUTHOR]
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