Influences of Foreign and Domestic Venture Capitalists on Internationalisation of Small Firms



Título del documento: Influences of Foreign and Domestic Venture Capitalists on Internationalisation of Small Firms
Revista: BAR - Brazilian Administration Review
Base de datos:
Número de sistema: 000552987
ISSN: 1807-7692
Autores: 1
2
1
Instituciones: 1Fundacao Getulio Vargas, Sao Paulo. Brasil
2Pontificia Universidade Catolica do Rio de Janeiro, Rio de Janeiro. Brasil
Año:
Volumen: 19
Número: 1
País: Brasil
Idioma: Inglés
Tipo de documento: Artículo
Resumen en inglés This study investigates whether venture capitalists (VCs) influence the internationalization of small firms and whether such impact differs between foreign and domestic VCs. Our findings, based on in-depth interviews with top decision-makers from two VCs and four portfolio ventures, indicate contrasts between the perceptions of VCs and portfolio firms, so that the former claim to have a higher impact than what is perceived by the latter. Additionally, our evidence about the differential impacts of foreign versus domestic VCs runs counter to the literature and suggests that the purported stronger impact of foreign VCs may have been over-emphasized in the literature. Two contingencies are revealed that seem to affect the impact of the VC and of its nationality on the internationalization of investee firms: breadth of the industry (global versus local industries) and firm’s vocation (born global firm versus local leader).
Disciplinas: Administración y contaduría
Palabras clave: Administración de instituciones
Keyword: Venture capital,
Investment funds,
Internationalization,
Small ventures,
Management of institutions
Texto completo: Texto completo (Ver HTML) Texto completo (Ver PDF)