The Persistent Effect of Initial Success: Evidence from Venture Capital
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We use investment-level data to study performance persistence in venture capital (VC). Consistent with prior studies, we find that each additional IPO among a VC firm's first ten investments predicts as much as an 8% higher IPO rate on its subsequent investments, though this effect erodes with time.
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美国国家经济研究局创建时间：
2018-08-01
