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Do networks of financial intermediaries help reduce local bi
Contributing to the literature on local bias and financial networks, we examine how direct and indirect network ties of financial intermediaries mitigate the effects of distance and preference for local investments. In our analysis of cross-border venture capital exits, we find that proximity within...
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| Format: | Article |
| Language: | English |
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2014
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| LEADER | 01395nab a22001937a 4500 | ||
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| 008 | 160615b2014 xxu||||| |||| 00| 0 eng d | ||
| 100 | |a Jaaskelainen, Mikko | ||
| 245 | |a Do networks of financial intermediaries help reduce local bi |c Evidence from cross-border venture capital exits / Jaaskela | ||
| 260 | |c 2014 | ||
| 300 | |a 704-721 | ||
| 520 | |a Contributing to the literature on local bias and financial networks, we examine how direct and indirect network ties of financial intermediaries mitigate the effects of distance and preference for local investments. In our analysis of cross-border venture capital exits, we find that proximity within networks facilitates cross-border transactions, which suggests that network distance is an important dimension of distance in addition to its geographical and cultural dimensions. The results also suggest that network distance affects the reach and quality of mediated information: indirect ties to partners' partners, with their broad reach, facilitate the identification of investment opportunities, whereas direct ties, which have certification effects, facilitate quality assessment. | ||
| 650 | |a Cultural Distance | ||
| 650 | |a Geographical Distance | ||
| 650 | |a Network Distance | ||
| 650 | |a Exits | ||
| 650 | |a Cross-Border Venture Capital | ||
| 650 | |a Venture Capital | ||
| 773 | |a Journal of Business Venturing |d September | ||
| 999 | |c 41536 |d 41536 | ||