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Resources access needs and capabilities as mediators of the relationship between VC firm size and syndication

Ernst Verwaal, Hans Bruining, Mike Wright UGent, Sophie Manigart UGent and Andy Locket (2010) SMALL BUSINESS ECONOMICS. 34(3). p.277-291
abstract
Drawing from the resource-based view and transaction costs economics, we develop a theoretical framework to explain why small and large firms face different levels of resource access needs and resource access capabilities, which mediate the relationship between firm size and hybrid governance. Employing a sample of 317 venture capital firms, drawn across six European countries, we empirically assess our framework in the context of venture capital syndication. We estimate a path model using structural equation modeling and find, consistent with our theoretical framework, mediating effects of different types of resource access needs and resource access capabilities between VC firm size and syndication frequency. These findings advance the small business literature by highlighting the trade-offs that size imposes on firms that seek to manage their access to external resources through hybrid governance strategies.
Please use this url to cite or link to this publication:
author
organization
year
type
journalArticle (original)
publication status
published
subject
keyword
ORGANIZATIONAL RESEARCH, COMPETITIVE ADVANTAGE, INDUSTRY, KNOWLEDGE, VIEW, GOVERNANCE, PERFORMANCE, MANAGEMENT RESEARCH, Resource access needs, Venture capital, Firm size, Resource access capabilities, Investment syndication, STRATEGIC DECISION-MAKING, VENTURE CAPITAL INVESTMENTS, Transaction cost economics, Hybrid governance
journal title
SMALL BUSINESS ECONOMICS
Small Bus. Econ. Group
volume
34
issue
3
pages
277 - 291
Web of Science type
Article
Web of Science id
000275125600004
JCR category
ECONOMICS
JCR impact factor
1.555 (2010)
JCR rank
63/301 (2010)
JCR quartile
1 (2010)
ISSN
0921-898X
DOI
10.1007/s11187-008-9126-x
language
English
UGent publication?
no
classification
A1
copyright statement
I have transferred the copyright for this publication to the publisher
id
1015441
handle
http://hdl.handle.net/1854/LU-1015441
date created
2010-07-29 16:18:50
date last changed
2012-08-06 09:31:53
@article{1015441,
  abstract     = {Drawing from the resource-based view and transaction costs economics, we develop a theoretical framework to explain why small and large firms face different levels of resource access needs and resource access capabilities, which mediate the relationship between firm size and hybrid governance. Employing a sample of 317 venture capital firms, drawn across six European countries, we empirically assess our framework in the context of venture capital syndication. We estimate a path model using structural equation modeling and find, consistent with our theoretical framework, mediating effects of different types of resource access needs and resource access capabilities between VC firm size and syndication frequency. These findings advance the small business literature by highlighting the trade-offs that size imposes on firms that seek to manage their access to external resources through hybrid governance strategies.},
  author       = {Verwaal, Ernst and Bruining, Hans and Wright, Mike and Manigart, Sophie and Locket, Andy},
  issn         = {0921-898X},
  journal      = {SMALL BUSINESS ECONOMICS},
  keyword      = {ORGANIZATIONAL RESEARCH,COMPETITIVE ADVANTAGE,INDUSTRY,KNOWLEDGE,VIEW,GOVERNANCE,PERFORMANCE,MANAGEMENT RESEARCH,Resource access needs,Venture capital,Firm size,Resource access capabilities,Investment syndication,STRATEGIC DECISION-MAKING,VENTURE CAPITAL INVESTMENTS,Transaction cost economics,Hybrid governance},
  language     = {eng},
  number       = {3},
  pages        = {277--291},
  title        = {Resources access needs and capabilities as mediators of the relationship between VC firm size and syndication},
  url          = {http://dx.doi.org/10.1007/s11187-008-9126-x},
  volume       = {34},
  year         = {2010},
}

Chicago
Verwaal, Ernst, Hans Bruining, Mike Wright, Sophie Manigart, and Andy Locket. 2010. “Resources Access Needs and Capabilities as Mediators of the Relationship Between VC Firm Size and Syndication.” Small Business Economics 34 (3): 277–291.
APA
Verwaal, E., Bruining, H., Wright, M., Manigart, S., & Locket, A. (2010). Resources access needs and capabilities as mediators of the relationship between VC firm size and syndication. SMALL BUSINESS ECONOMICS, 34(3), 277–291.
Vancouver
1.
Verwaal E, Bruining H, Wright M, Manigart S, Locket A. Resources access needs and capabilities as mediators of the relationship between VC firm size and syndication. SMALL BUSINESS ECONOMICS. 2010;34(3):277–91.
MLA
Verwaal, Ernst, Hans Bruining, Mike Wright, et al. “Resources Access Needs and Capabilities as Mediators of the Relationship Between VC Firm Size and Syndication.” SMALL BUSINESS ECONOMICS 34.3 (2010): 277–291. Print.