Influences of foreign and domestic venture capitalists on internationalisation of small firms
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 contras...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)
2022-01-01
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| Series: | BAR: Brazilian Administration Review |
| Subjects: | |
| Online Access: | https://bar.anpad.org.br/index.php/bar/article/view/539 |
| _version_ | 1797971678208196608 |
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| author | Jorge Carneiro Antonio Amaral Moreira Hsia Hua Sheng |
| author_facet | Jorge Carneiro Antonio Amaral Moreira Hsia Hua Sheng |
| author_sort | Jorge Carneiro |
| collection | DOAJ |
| description | 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). |
| first_indexed | 2024-04-11T03:36:22Z |
| format | Article |
| id | doaj.art-285609755d4741e0858052ea53f9d821 |
| institution | Directory Open Access Journal |
| issn | 1807-7692 |
| language | English |
| last_indexed | 2024-04-11T03:36:22Z |
| publishDate | 2022-01-01 |
| publisher | Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD) |
| record_format | Article |
| series | BAR: Brazilian Administration Review |
| spelling | doaj.art-285609755d4741e0858052ea53f9d8212023-01-02T05:00:00ZengAssociação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)BAR: Brazilian Administration Review1807-76922022-01-01191e200105e20010510.1590/1807-7692bar2022200105539Influences of foreign and domestic venture capitalists on internationalisation of small firmsJorge Carneiro0Antonio Amaral Moreira1Hsia Hua Sheng2Fundação Getulio Vargas, São Paulo, SP, BrazilPontifícia Universidade Católica, Rio de Janeiro, RJ, BrazilFundação Getulio Vargas, São Paulo, SP, BrazilThis 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).https://bar.anpad.org.br/index.php/bar/article/view/539venture capitalinvestment fundsinternationalizationsmall ventures |
| spellingShingle | Jorge Carneiro Antonio Amaral Moreira Hsia Hua Sheng Influences of foreign and domestic venture capitalists on internationalisation of small firms BAR: Brazilian Administration Review venture capital investment funds internationalization small ventures |
| title | Influences of foreign and domestic venture capitalists on internationalisation of small firms |
| title_full | Influences of foreign and domestic venture capitalists on internationalisation of small firms |
| title_fullStr | Influences of foreign and domestic venture capitalists on internationalisation of small firms |
| title_full_unstemmed | Influences of foreign and domestic venture capitalists on internationalisation of small firms |
| title_short | Influences of foreign and domestic venture capitalists on internationalisation of small firms |
| title_sort | influences of foreign and domestic venture capitalists on internationalisation of small firms |
| topic | venture capital investment funds internationalization small ventures |
| url | https://bar.anpad.org.br/index.php/bar/article/view/539 |
| work_keys_str_mv | AT jorgecarneiro influencesofforeignanddomesticventurecapitalistsoninternationalisationofsmallfirms AT antonioamaralmoreira influencesofforeignanddomesticventurecapitalistsoninternationalisationofsmallfirms AT hsiahuasheng influencesofforeignanddomesticventurecapitalistsoninternationalisationofsmallfirms |