The DOI matches its Crossref record; 99 of the 99 references it cites were found in a registry or an index.
The Importance of Trust for Investment: Evidence from Venture Capital
Abstract
We examine the effect of trust in venture capital. Our theory predicts a positive relationship of trust with investment, but a negative relationship with success. Using a hand-collected dataset of European venture capital deals, we find that the Eurobarometer measure of trust among nations positively predicts venture capital firms' investment decisions, but that it has a negative correlation with successful exits. Our theory also predicts that earlier stage investments require higher trust, that syndication is more valuable in low-trust situations, and that higher trust investors use more contingent contracts. The empirical evidence supports these predictions. Received July 17, 2012; accepted March 15, 2016 by Editor Laura Starks.
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Cites
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The theory and practice of corporate finance: evidence from the field
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Cited by
Barber, B. M., Morse, A., & Yasuda, A. (2021) · Journal of Financial Economics · doi:10.1016/j.jfineco.2020.07.008 · Cited by 728
Transparency and Trust in Government. Evidence from a Survey Experiment
Alessandro, M., Cardinale Lagomarsino, B., Scartascini, C., Streb, J., & Torrealday, J. (2021) · World Development · doi:10.1016/j.worlddev.2020.105223 · Cited by 210
Metadata
- Authors
- Bottazzi, L., Da Rin, M., & Hellmann, T.
- Venue
- Review of Financial Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 2016-05-24
- Volume
- 29
- Issue
- 9
- Pages
- 2283-2318
- ISSN
- 0893-9454
- 1465-7368
- OpenAlex
- W3125014043
- Cited by
- 423
- References
- 99
- FWCI
- 92.67
- Type
- journal article
- Language
- en
- Open access
- closed
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