Relocation to get venture capital: A resource dependence perspective
De Prijcker, Sofie Manigart, Sophie Collewaert, Veroniek Vanacker, Tom
De Prijcker, Sofie
Manigart, Sophie
Collewaert, Veroniek
Vanacker, Tom
Citations
Altmetric:
Publication Type
Journal article with impact factor
Editor
Supervisor
Publication Year
2019
Journal
Entrepreneurship: Theory and Practice
Book
Publication Volume
43
Publication Issue
4
Publication Begin page
697
Publication End page
724
Publication NUmber of pages
Collections
Abstract
Using a resource dependence perspective, we theorize and show that non-venture-capital-backed ventures founded in U.S. states with a lower availability of venture capital (VC) are more likely to relocate to California (CA) or Massachusetts (MA)—the two VC-richest states—compared to ventures founded in states with a greater availability of VC. Moreover, controlling for self-selection, ventures that relocate to CA or MA subsequently have a greater probability of attracting initial VC compared to ventures that stay in their home state. We discuss the implications for theory, future research, and practice.
Research Projects
Organizational Units
Journal Issue
Keywords
Venture Capital, Entrepreneurial Finance, Relocation, Resource Dependence Theory