Abstract
Using a unique database of 990 vc-backed belgian firms, we study whether compatibility between corporate and environmental characteristics matters. We address two questions: (i) does the interplay of company, industry, and product factors affect the expected returns of the vc-backed firms? (ii) does the joint compatibility between these factors results in a non-linear increase in performance? panel data analysis shows a significant influence of factor compatibility on returns. Quantile regression analysis indicates a non-linear relationship between the return and its determinants. Conjoint analysis identifies certain combinations of factors, which collapse into classifiable patterns described in the strategic management literature.
Original language | English |
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Pages (from-to) | 277-295 |
Number of pages | 19 |
Journal | Research in International Business and Finance |
Volume | 25 |
Issue number | 3 |
DOIs | |
Publication status | Published - 1 Jan 2011 |