Picking winners or building them? Alliance, intellectual, and human capital as selection criteria in venture financing and performance of biotechnology startups

By Joel A. C. Baum, Brian S. Silverman. 2004

1,341 citations recorded by the source corpus.

Subfields: Accounting, Management of Technology and Innovation

View Paper: https://www.semanticscholar.org/paper/da39c389570e612cbf9d8473ee5b90590e6678f3

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Citations in the corpus

The power of positivity? The influence of positive psychological capital language on crowdfunding performance (2018, background): “5 The moderating influence of human capital Projections of human capital provide another well-established, costly signal important to entrepreneurial fundraising (e.g., Ahlers et al., 2015; Baum and Silverman, 2004).”
Betting on the Coachable Entrepreneur: Signaling and Social Exchange in Entrepreneurial Pitches (2018, background): “This is surprising, given how important the coaching function is for venture success, especially for professionally funded ventures (Baum & Silverman, 2004).”
Early Teams: The Impact of Team Demography on VC Financing and Going Public (2007, background): “Furthermore, reports in the business press as well as academic research note that venture capital firms pay particular attention to the strengths and weaknesses of founding team when deciding whether to fund a new venture (Goslin and Barge, 1986; Heileman, 1997; Baum and Silverman, 2004).”
Agency, Strategic Entrepreneurship, and the Performance of Private Equity–Backed Buyouts (2009, positive): “More experienced private equity investors may be abl to select better deals and are likely better both at monitoring the underlying investment and adding value by realizing growth opportunities (Baum & Silverman, 2004).”
A Review and Road Map of Entrepreneurial Equity Financing Research: Venture Capital, Corporate Venture Capital, Angel Investment, Crowdfunding, and Accelerators (2017, background): “Other studies point to a less-positive or mixed view of the value that venture capitalists bring (Baum & Silverman, 2004; Busenitz, Fiet, & Moesel, 2004); Busenitz and colleagues (2004), for example, tracked the performance of VC-backed companies over a 10-year period and report that the strategic…”
In search of complementary assets: The determinants of alliance formation of high-tech start-ups (2006, methodology): “In accordance with both Hypothesis 3A and the evidence offered by previous studies (Gans et al., 2002; Baum and Silverman, 2004; Hsu, 2006), we expect this variable to have a positive effect on the likelihood of alliance formation by NTBFs, but we also expect this effect to be confined to exploitati”
The Determinants of Entrepreneurial Intention of Young Researchers: Combining the Theory of Planned Behavior with the Triple Helix Model (2019, background): “Studies have shown the positive impact of venture capital on the growth of R&D investments and the number of patents (Kortum and Lerner ), professionalization of start-ups (Hellmann and Puri 2002), and access to resources and competencies (Baum and Silverman 2004).”
How patenting informs VC investors - The case of biotechnology (2014, background): “Baum and Silverman (2004) examine some of the selection criteria used by VCs and subsequent company performance and find a positive association between patent applications at the USPTO and pre-IPO financing.”
The Schumpeterian entrepreneur: a review of the empirical evidence on the antecedents, behaviour and consequences of innovative entrepreneurship (2017, positive): “Various papers show that patents, prototypes, trademarks, and combinations thereof increase the likelihood and amount of VC funding (Lerner 1994; Baum and Silverman 2004; Mann and Sager 2007; Audretsch, Bönte, and Mahagaonkar 2012; Conti, Thursby, and Rothaermel 2013; Hsu and Ziedonis 2013; Block…”
Playing to their Strengths? Evidence that Specialization in the Private Equity Industry Confers Competitive Advantage (2007, neutral): “The only paper we are aware of in this area ( Baum and Silverman, 2004 ) examines early stage biotech investments rather than buyouts, the focus of the present paper.”
Hybrid Vigor: Securing Venture Capital by Spanning Categories in Nanotechnology (2014, background): “For high-technology startups, patents are generally considered a reflection of product development focus (Baum & Silverman, 2004).”
A comparison of the effect of angels and venture capitalists on innovation and value creation (2016, background): “Baum and Silverman (2004) suggest that while VCs”
On growth drivers of high-tech start-ups: Exploring the role of founders' human capital and venture capital (2010, background): “If VC investors primarily have a role as a “scout”, the human capital variables that enhance firm growth will also attract VC investments (see Baum and Silverman, 2004 for a similar argument).”