%0 Journal Article
%J Journal of Business Venturing
%D 2014
%T New insights into venture capitalists' activity: IPO and time-to-exit forecast as antecedents of their post-investment involvement
%A Gerasymenko,Violetta
%A Arthurs,Jonathan
%K Strategy & Entrepreneurship
%X We examine how VCFs' forecast of an IPO exit affects their breadth of advising and the likelihood<br>of founder–CEO replacement shortly after they invest in a new venture. Moreover, we examine<br>how the expected time-to-exit moderates these relationships. Our findings show that the<br>likelihood of founder–CEO replacement upon receiving venture capital funding is significantly<br>greater if a VCF perceives this company as a potential IPO as opposed to a trade sale, and this<br>likelihood increases if the forecasted time-to-exit is short. We also illustrate how the breadth of<br>advice varies as a function of the forecasted IPO and time-to-exit.
%B Journal of Business Venturing
%C Elsvier
%V 29
%P pages 405-420
%8 2014
%G eng
%2 a
%4 107183048704
%$ 107183048704