Vcs' Decision Processes: Evidence Suggesting More Experience May Not Always Be Better

By Dean A. Shepherd, Andrew Zacharakis, Robert A. Baron. 2003

297 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/8466e1ddafefe011e9df3000be3a0c15f13ed695

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Citations in the corpus

The Study of Bias in Entrepreneurship (2017, background): “Existing research has examined several country settings outside of the United States, including Singapore (Keh et al., 2002), Australia (Shepherd et al., 2003), Austria (Franke et al., 2006), Germany (Burmeister & Schade, 2007; Franke et al.; Grichnik, 2008), the Netherlands (Ebbers & Wijnberg, 2012”
Towards a model of the business angel investment process (2007, background): “In the formal investment market, recent work has suggested that venture capitalists are poor at introspecting about how they arrive at decisions (Zacharakis and Meyer, 1998; Shepherd, 1999; Shepherd et al., 2003).”
What you are is what you like—similarity biases in venture capitalists' evaluations of start-up teams (2006, methodology): “However, more recent studies reveal that previous results might be misleading due to biases in the decision process of VCs (Shepherd et al. 2003, Zacharakis and Shepherd 2001).”
Do others think you have a viable business idea? Team diversity and judges' evaluation of ideas in a business plan competition (2005, methodology): “Although there could be differences between the actual quality and experts’ rating, Shepherd et al. (2003) found that experience in the venture industry up to 15 years predicts greater accuracy in rating business ideas.”
Time and the Entrepreneurial Journey: The Problems and Promise of Studying Entrepreneurship as a Process (2013, background): “An example of a Quadrant I paper is Shepherd, Zacharakis, and Baron (2003) who discuss venture capitalist decision making processes but focus on the experience of the decision maker as the main attribute of the process and examine its relationship with the reliability and performance of decisions.”
‘I Like How You Think’: Similarity as an Interaction Bias in the Investor–Entrepreneur Dyad (2011, methodology): “Our sample size is comparable to or exceeds other studies employing a conjoint methodology to evaluate VC decisionmaking (e.g. Franke et al., 2006, 2008; Muzyka et al., 1996; Shepherd et al., 2003) and meets the general criterion for sufficient sample size laid out by Shepherd and Zacharakis (1999).”
Are entrepreneurs' decisions more biased? An experimental investigation of the susceptibility to status quo bias (2007, background): “Based on the literature on experience effects, we argue that more experience will most probably lead to a higher susceptibility to the status quo bias because thoughts may become increasingly channeled by past experience (Shepherd et al., 2003).”