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Investment Ties Gone Awry

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Investment Ties Gone Awry. / Shafi, Kourosh; Mohammadi, Ali; Johan, Sofia A.

I: Academy of Management Journal, Bind 63, Nr. 1, 02.2020, s. 295-327.

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

Harvard

Shafi, K, Mohammadi, A & Johan, SA 2020, 'Investment Ties Gone Awry', Academy of Management Journal, bind 63, nr. 1, s. 295-327. https://doi.org/10.5465/amj.2017.0103

APA

Shafi, K., Mohammadi, A., & Johan, S. A. (2020). Investment Ties Gone Awry. Academy of Management Journal, 63(1), 295-327. https://doi.org/10.5465/amj.2017.0103

CBE

Shafi K, Mohammadi A, Johan SA. 2020. Investment Ties Gone Awry. Academy of Management Journal. 63(1):295-327. https://doi.org/10.5465/amj.2017.0103

MLA

Shafi, Kourosh, Ali Mohammadi og Sofia A. Johan. "Investment Ties Gone Awry". Academy of Management Journal. 2020, 63(1). 295-327. https://doi.org/10.5465/amj.2017.0103

Vancouver

Shafi K, Mohammadi A, Johan SA. Investment Ties Gone Awry. Academy of Management Journal. 2020 feb;63(1):295-327. https://doi.org/10.5465/amj.2017.0103

Author

Shafi, Kourosh ; Mohammadi, Ali ; Johan, Sofia A. / Investment Ties Gone Awry. I: Academy of Management Journal. 2020 ; Bind 63, Nr. 1. s. 295-327.

Bibtex

@article{502c542d503b4c45af47ebccd26f6124,
title = "Investment Ties Gone Awry",
abstract = "Forming early relationships increases entrepreneurial ventures’ chances of survival and success by allowing access to critical resources from partners. However, since not all ventures achieve their desired goals through collaboration due to uncertainty, such relationships are sometimes abandoned. This paper investigates the costs of ties that have gone awry in the context of venture capital investments. We conjecture that the adverse perceptions of signals associated with tie discontinuation reduce an investee venture’s valuation in the follow-on round of financing by partially deterring prospective investors, particularly higher-quality ones, from joining the syndicate. By examining large-sample evidence that supports our theory, we suggest that early entrepreneurial ties to venture capitalists may be a double-edged sword, especially in light of the costs of tie discontinuation.",
keywords = "Topic areas, Entrepreneurship, Financing of new ventures, Organization and management theory, Interorganizational linkages, Reputation, Research methods, Research design, Cross-sectional, Analysis, Traditional, Topic areas, Entrepreneurship, Financing of new ventures, Organization and management theory, Interorganizational linkages, Reputation, Research methods, Research design, Cross-sectional, Analysis, Traditional",
author = "Kourosh Shafi and Ali Mohammadi and Johan, {Sofia A.}",
note = "Published online: 7. February 2019",
year = "2020",
month = "2",
doi = "10.5465/amj.2017.0103",
language = "English",
volume = "63",
pages = "295--327",
journal = "Academy of Management Journal",
issn = "0001-4273",
publisher = "Academy of Management",
number = "1",

}

RIS

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AU - Shafi, Kourosh

AU - Mohammadi, Ali

AU - Johan, Sofia A.

N1 - Published online: 7. February 2019

PY - 2020/2

Y1 - 2020/2

N2 - Forming early relationships increases entrepreneurial ventures’ chances of survival and success by allowing access to critical resources from partners. However, since not all ventures achieve their desired goals through collaboration due to uncertainty, such relationships are sometimes abandoned. This paper investigates the costs of ties that have gone awry in the context of venture capital investments. We conjecture that the adverse perceptions of signals associated with tie discontinuation reduce an investee venture’s valuation in the follow-on round of financing by partially deterring prospective investors, particularly higher-quality ones, from joining the syndicate. By examining large-sample evidence that supports our theory, we suggest that early entrepreneurial ties to venture capitalists may be a double-edged sword, especially in light of the costs of tie discontinuation.

AB - Forming early relationships increases entrepreneurial ventures’ chances of survival and success by allowing access to critical resources from partners. However, since not all ventures achieve their desired goals through collaboration due to uncertainty, such relationships are sometimes abandoned. This paper investigates the costs of ties that have gone awry in the context of venture capital investments. We conjecture that the adverse perceptions of signals associated with tie discontinuation reduce an investee venture’s valuation in the follow-on round of financing by partially deterring prospective investors, particularly higher-quality ones, from joining the syndicate. By examining large-sample evidence that supports our theory, we suggest that early entrepreneurial ties to venture capitalists may be a double-edged sword, especially in light of the costs of tie discontinuation.

KW - Topic areas

KW - Entrepreneurship

KW - Financing of new ventures

KW - Organization and management theory

KW - Interorganizational linkages

KW - Reputation

KW - Research methods

KW - Research design

KW - Cross-sectional

KW - Analysis

KW - Traditional

KW - Topic areas

KW - Entrepreneurship

KW - Financing of new ventures

KW - Organization and management theory

KW - Interorganizational linkages

KW - Reputation

KW - Research methods

KW - Research design

KW - Cross-sectional

KW - Analysis

KW - Traditional

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DO - 10.5465/amj.2017.0103

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JF - Academy of Management Journal

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