Dynamics and Performance of French Venture-Backed Firms: Empirical Evidence

Dubocage, Emmanuelle; Rédis, Jean

doi:10.3917/entre.152.0075

Cited by 7 publications

(5 citation statements)

References 52 publications

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“…Such cooperation, known as syndication, can lead to a more meticulous selection of investments and thereby increase the chances of success for the portfolio companies (Dimov and Milanov, 2010;Dubocage and R edis, 2016). VC firms play a critical role in offering value-creating services to portfolio companies, such as valuable network access, moral support and business knowledge (Dubocage and R edis, 2016). The impact of these services gradually increases with syndication (Lerner, 1994), enabling portfolio companies to gain from the experience and resources of multiple VC firms.…”

Section: Effects Of Innovation On Performance Of Vc-backed Firmsmentioning

confidence: 99%

“…One of these features is their tendency to collaborate and share transactions with other VC firms. Such cooperation, known as syndication, can lead to a more meticulous selection of investments and thereby increase the chances of success for the portfolio companies (Dimov and Milanov, 2010; Dubocage and Rédis, 2016).…”

Section: Hypotheses Developmentmentioning

confidence: 99%

“…VC firms play a critical role in offering value-creating services to portfolio companies, such as valuable network access, moral support and business knowledge (Dubocage and Rédis, 2016). The impact of these services gradually increases with syndication (Lerner, 1994), enabling portfolio companies to gain from the experience and resources of multiple VC firms.…”

Section: Hypotheses Developmentmentioning

confidence: 99%

“…One of these features is their tendency to Performance of venture capital-backed firms collaborate and share transactions with other VC firms. Such cooperation, known as syndication, can lead to a more meticulous selection of investments and thereby increase the chances of success for the portfolio companies (Dimov and Milanov, 2010;Dubocage and R edis, 2016). VC firms play a critical role in offering value-creating services to portfolio companies, such as valuable network access, moral support and business knowledge (Dubocage and R edis, 2016).…”

Section: Effects Of Innovation On Performance Of Vc-backed Firmsmentioning

confidence: 99%

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The effects of organizational learning on innovation and performance of venture capital-backed firms: the moderating effect of syndication

Laachach

Ettahri

2023

BPMJ

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PurposeDespite the innovation and performance of venture capital (VC)-backed firms receiving extensive attention, how and under what conditions VC influences innovation and performance remains unclear. The present paper draws on organizational learning (OL) theory to examine the moderating effect of syndication on backed firms.Design/methodology/approachDrawing on a literature review that connects OL and innovation to the performance of VC-backed firms, this study examines the effects of OL on innovation and firm performance among these firms by questioning the moderating effect of VC syndication. A sample of 78 VC-backed firms was used to test the robustness of the proposed model and causal relationships through the use of partial least squares structural equation modeling (PLS-SEM).FindingsThe empirical evidence demonstrates that the intervention of venture capitalists can not only stimulate innovation, but also have a significantly positive effect on firm performance. Furthermore, the evidence reveals that syndication of VC investment supports backed firms in improving the firms' performance and generating innovation from acquired knowledge.Originality/valueTo the best of the authors' knowledge, this study is the first in North Africa that focuses on the moderating effects of venture capital syndication on the relationships between OL, innovation and firm performance.

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Section: Effects Of Innovation On Performance Of Vc-backed Firmsmentioning

confidence: 99%

Section: Hypotheses Developmentmentioning

confidence: 99%

Section: Hypotheses Developmentmentioning

confidence: 99%

Section: Effects Of Innovation On Performance Of Vc-backed Firmsmentioning

confidence: 99%

See 2 more Smart Citations

The effects of organizational learning on innovation and performance of venture capital-backed firms: the moderating effect of syndication

Laachach

Ettahri

2023

BPMJ

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“…On the contrary, the contribution of venture capital to the financing of companies remains largely in the minority. According to the OECD, it represents about 0.03 percent of GDP for France compared to 0.34 percent in the United States in 2015 (Dubocage and Rédis, 2016). Bank credit basically involves two protagonists, the entrepreneur and the banker.…”

Section: Introductionmentioning

confidence: 99%

The economics of the entrepreneur and the banker historical roots and contributions to the management of innovation

Boutillier

2019

EJIM

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Purpose The purpose of this paper is to study the nature of the relationship between the entrepreneur and the banker, which is central to any analysis of business creation and innovation management. The author’s main purpose is to understand how this relationship has been studied by the pioneer economists of the entrepreneur and to highlight their contribution to the understanding of today’s reality. Design/methodology/approach To do so, the author proposes a sketch of an entrepreneur and banker economics based on the study of six economists (Cantillon, Smith, Bentham, Say, Schumpeter and Baumol) known for their works on entrepreneur theory. In their works, they explained how the (often difficult) relationship between the entrepreneur and the banker is built in a context of multi-uncertainty. They define the entrepreneur in different ways (a risk-taker, a prudent man, a projector, etc.), and put forward different behaviors facing uncertainty through social relations. The relationship between the entrepreneur and the banker can be read according to the grid of analysis of strong or weak ties (Granovetter, 1973). Findings This analysis demonstrates the importance of trust between the two protagonists. This contribution remains fundamental to study the behavior of financers and entrepreneurs today in the context of business eco-systems, clusters, science parks ‒ in other words, the main places of emergence of innovation. Research limitations/implications This research leads to the proposal of the main basis of an economics of the entrepreneur and the banker; it can be further developed with the addition of other contributions of historical economists. Practical implications This research shows the importance of thinking about the ways to build trust within the relation between entrepreneurs and their funders (bankers, venture capital, crowdfunding). Social implications The analysis of social ties (weak or strong) plays a major role in this relation. Originality/value The originality of the article is to come back to the works of pioneer economists and to show their contributions to the understanding of today’s reality.

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Comparing Radical and Incremental Innovation in Venture Capital Syndication: Exploring the Influence of R&D Intensity and Sector-Specific Effects

Laachach

2024

J Knowl Econ

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Dynamics and Performance of French Venture-Backed Firms: Empirical Evidence

Cited by 7 publications

References 52 publications

The effects of organizational learning on innovation and performance of venture capital-backed firms: the moderating effect of syndication

The effects of organizational learning on innovation and performance of venture capital-backed firms: the moderating effect of syndication

The economics of the entrepreneur and the banker historical roots and contributions to the management of innovation

Comparing Radical and Incremental Innovation in Venture Capital Syndication: Exploring the Influence of R&D Intensity and Sector-Specific Effects

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