Effect of power source mismatch on new venture performance

摘要

Purpose The venture capital syndication brings in various resources for the portfolio firms, which positively affects those firms' performance, while conflicts within syndicates also have negative impact on the portfolio firms' performance. This study aims to explore the two opposite effects of the venture capital syndication on the portfolio firms' operations. Drawing on Ma et al.'s (2013) power source match perspective, the authors examine the effect of (mis)match of power source between ownership and status on the portfolio firms' performance.