Chapter Listing | Return to 1997 Topical Index


Table 2
Characteristics Associated With Venture Capitalist Ownership  
 

     
Independent   % VC
variables Funded Ownership
     
Control Variables    
Firm age .18*** .12***
Firm size (employees)    
     
Management team characteristics    
Technical education .08*** .05***
New venture experience    
Industry experience .02*  
Finance experience .02*  
     
Firm strategies    
Innovative differentiation    
Marketing differentiation     
Low cost emphasis    
Strategic breadth    
Focus    
     
Financial characteristics    
Liquidity    
Debt to equity    
Return on sales    
     
Industry characteristics    
Performance .01+ .02*
Technological change .01+  
Growth  .01+  
     
     
Model R2  0.33 0.19
     
1Partial R2 are reported    
+p<.1, *p<.05, **p<.01, ***p<.001    

 

Top of page | Chapter Listing | Return to 1997 Topical Index


1997 Babson College All Rights Reserved
Last Updated 03/30/98