Federal ID: 91-6001537
ISSN: 0022-1090 (Print) | 1756-6916 (Online)
Informational Hold-Up by Venture Capital Syndicates
Suting Hong and Pierre Mella-Barral ♦ We argue that syndicates associate venture capitalists (VCs) with uneven skill levels in order to lower their expected gains from threatening to stop financing: Non-continued participation would send a milder negative signal to alternative financiers.…