Delayed project terminations in the venture capital context: an escalation of commitment perspective (Record no. 206613)

000 -LEADER
fixed length control field 02472aam a2200181 4500
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 171117b2010 xxu||||| |||| 00| 0 eng d
020 ## - INTERNATIONAL STANDARD BOOK NUMBER
International Standard Book Number 9783899369861
082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER
Classification number 332.04154
Item number S8D3
100 ## - MAIN ENTRY--PERSONAL NAME
Personal name Steinkuhler, Dominik
9 (RLIN) 352459
245 ## - TITLE STATEMENT
Title Delayed project terminations in the venture capital context: an escalation of commitment perspective
260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT)
Name of publisher, distributor, etc Josef Eul Verlag Gmbh
Date of publication, distribution, etc 2010
Place of publication, distribution, etc Lohmar
300 ## - PHYSICAL DESCRIPTION
Extent xx, 320 p.
520 ## - SUMMARY, ETC.
Summary, etc Venture capital plays an important role in the entrepreneurial process of providing financing and management support to young, rapidly growing companies. While venture capital investment success stories such as those of Microsoft, Apple and Google are well known, such „home runs" are rather rare. Many investments provide little or no return so that accurately evaluating the prospects of portfolio companies and terminating further engagement in unsuccessful ventures in time is key to the overall portfolio performance of venture capital firms. When venture capitalists act rationally it should be expected that investment terminations are neither systematically premature nor systematically delayed. However, recent studies have discovered a systematic tendency toward delayed project terminations of unsuccessful investments that cannot be reconciled with a model of rational decision making. The present study examines such delayed project terminations in the venture capital industry and investigates whether escalation of commitment may provide an appropriate perspective on the phenomenon and contribute to its explanation. The study develops a comprehensive theoretical framework that synthesizes and integrates several economically irrational drivers of project escalation. A large scale survey among European venture capitalists provides the basis for the empirical analysis of the hypothesized relationships. The analysis yields valuable new insights into the interaction of different escalation drivers, which are much more intertwined than previously supposed by the literature, and permits to suggest effective escalation countermeasures for practice. The considerations and findings of the study are generalizable beyond the venture capital context to a wide variety of settings in which organizations routinely make sequential investment decisions.
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element Venture capital
9 (RLIN) 352460
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element Investment Banking
9 (RLIN) 352461
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element Entrepreneurship
9 (RLIN) 352462
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Source of classification or shelving scheme
Item type Books
Holdings
Withdrawn status Lost status Source of classification or shelving scheme Damaged status Not for loan Collection code Permanent location Current location Shelving location Date acquired Source of acquisition Cost, normal purchase price Item location Full call number Barcode Date last seen Cost, replacement price Koha item type
          Non-fiction Vikram Sarabhai Library Vikram Sarabhai Library   2017-11-23 71 627.01 Slot 613 (0 Floor, West Wing) 332.04154 S8D3 195520 2017-11-23 1734.00 Books

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