A theory of venture capital family business: a governance trajectory
PurposeThe purpose of this study is to understand venture capital family businesses (VCFBs) governance of portfolio companies through the deal process.Design/methodology/approachThis study applies a theory-developing approach. A model of VCFB governance is developed whose key aspects are illuminated...
Gespeichert in:
| Veröffentlicht in: | Journal of family business management 2023-05, Vol.13 (2), p.503-522 |
|---|---|
| Hauptverfasser: | , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 522 |
|---|---|
| container_issue | 2 |
| container_start_page | 503 |
| container_title | Journal of family business management |
| container_volume | 13 |
| creator | Ljungkvist, Torbjörn Boers, Börje |
| description | PurposeThe purpose of this study is to understand venture capital family businesses (VCFBs) governance of portfolio companies through the deal process.Design/methodology/approachThis study applies a theory-developing approach. A model of VCFB governance is developed whose key aspects are illuminated by four examples (cases) of VCFBs.FindingsRecent research suggests that a venture capital firm's corporate deal processes can be divided into the pre-deal, deal and post-deal phases. Based on the age, size and succession dimensions, propositions for how a governance trajectory develops for VCFBs, affecting the deal process of target family firms (TFFs), are presented. These propositions highlight how the family owners' actions and behavior are related to VCFB governance, which in turn, influences the three phases involved in making an investment.Originality/valueThe propositions suggest how personal and administrative VCFBs' governance of the deal process of portfolio companies is significantly affected by centrifugal and centripetal forces that drive the respective types of governance where third-generation family owners appear as changers of governance approach. |
| doi_str_mv | 10.1108/JFBM-08-2021-0096 |
| format | Article |
| fullrecord | <record><control><sourceid>proquest_econi</sourceid><recordid>TN_cdi_proquest_journals_2812908670</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>2812908670</sourcerecordid><originalsourceid>FETCH-LOGICAL-c451t-c4332878ef4400c0d72ef3c77585dc74559e3c36fd26c3246f83e8785aa3ca963</originalsourceid><addsrcrecordid>eNptkU9PwzAMxSsEEtPYB-AWiSsFJ2mblNvYGH80xAW4Rlnmbp26ZiTt0L49qYomIXGxffi9Z-s5ii4p3FAK8vZldv8ag4wZMBoD5NlJNGCQ8DhjSXZ6nLk8j0bebwCAguCphEE0HZNmjdYdiC3IHuumdUiM3pWNrkiht2V1IIvWlzV6f0c0Wdk9ulrXBknj9AZNE7QX0VmhK4-j3z6MPmYP75OneP72-DwZz2OTpLQJlXMmhcQiSQAMLAXDghshUpkujUjSNEdueFYsWWZ4OL2QHAOfas2NzjM-jK57X_-Nu3ahdq7candQVpdqWn6OlXUrtS69YiDyJOBXPb5z9qtF36iNbcPxVQAkZTnITECgaE8ZZ713WBxtKaguXtXFq0Lv4lVdvEFDeg0aW4d9R4VMEyoySWlA4BfZotPV8l_XP0_jP0hWhNU</addsrcrecordid><sourcetype>Open Access Repository</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>2812908670</pqid></control><display><type>article</type><title>A theory of venture capital family business: a governance trajectory</title><source>SWEPUB Freely available online</source><source>Standard: Emerald eJournal Premier Collection</source><creator>Ljungkvist, Torbjörn ; Boers, Börje</creator><creatorcontrib>Ljungkvist, Torbjörn ; Boers, Börje</creatorcontrib><description>PurposeThe purpose of this study is to understand venture capital family businesses (VCFBs) governance of portfolio companies through the deal process.Design/methodology/approachThis study applies a theory-developing approach. A model of VCFB governance is developed whose key aspects are illuminated by four examples (cases) of VCFBs.FindingsRecent research suggests that a venture capital firm's corporate deal processes can be divided into the pre-deal, deal and post-deal phases. Based on the age, size and succession dimensions, propositions for how a governance trajectory develops for VCFBs, affecting the deal process of target family firms (TFFs), are presented. These propositions highlight how the family owners' actions and behavior are related to VCFB governance, which in turn, influences the three phases involved in making an investment.Originality/valueThe propositions suggest how personal and administrative VCFBs' governance of the deal process of portfolio companies is significantly affected by centrifugal and centripetal forces that drive the respective types of governance where third-generation family owners appear as changers of governance approach.</description><identifier>ISSN: 2043-6238</identifier><identifier>ISSN: 2043-6246</identifier><identifier>EISSN: 2043-6246</identifier><identifier>DOI: 10.1108/JFBM-08-2021-0096</identifier><language>eng</language><publisher>Bingley: Emerald Publishing Limited</publisher><subject>Annual reports ; deal process ; family business ; family generation ; Family owned businesses ; Generations ; governance ; Investment policy ; portfolio company ; Strategic Entrepreneurship ; Strategic planning ; Strategiskt entreprenörskap (StrEnt) ; Venture capital</subject><ispartof>Journal of family business management, 2023-05, Vol.13 (2), p.503-522</ispartof><rights>Torbjörn Ljungkvist and Börje Boers</rights><rights>Torbjörn Ljungkvist and Börje Boers. This work is published under http://creativecommons.org/licences/by/4.0/legalcode (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c451t-c4332878ef4400c0d72ef3c77585dc74559e3c36fd26c3246f83e8785aa3ca963</citedby><cites>FETCH-LOGICAL-c451t-c4332878ef4400c0d72ef3c77585dc74559e3c36fd26c3246f83e8785aa3ca963</cites><orcidid>0000-0002-8337-3472 ; 0000-0003-4776-0085</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://www.emerald.com/insight/content/doi/10.1108/JFBM-08-2021-0096/full/html$$EHTML$$P50$$Gemerald$$Hfree_for_read</linktohtml><link.rule.ids>230,314,552,780,784,885,21695,27924,27925,53244</link.rule.ids><backlink>$$Uhttps://urn.kb.se/resolve?urn=urn:nbn:se:his:diva-20794$$DView record from Swedish Publication Index$$Hfree_for_read</backlink></links><search><creatorcontrib>Ljungkvist, Torbjörn</creatorcontrib><creatorcontrib>Boers, Börje</creatorcontrib><title>A theory of venture capital family business: a governance trajectory</title><title>Journal of family business management</title><description>PurposeThe purpose of this study is to understand venture capital family businesses (VCFBs) governance of portfolio companies through the deal process.Design/methodology/approachThis study applies a theory-developing approach. A model of VCFB governance is developed whose key aspects are illuminated by four examples (cases) of VCFBs.FindingsRecent research suggests that a venture capital firm's corporate deal processes can be divided into the pre-deal, deal and post-deal phases. Based on the age, size and succession dimensions, propositions for how a governance trajectory develops for VCFBs, affecting the deal process of target family firms (TFFs), are presented. These propositions highlight how the family owners' actions and behavior are related to VCFB governance, which in turn, influences the three phases involved in making an investment.Originality/valueThe propositions suggest how personal and administrative VCFBs' governance of the deal process of portfolio companies is significantly affected by centrifugal and centripetal forces that drive the respective types of governance where third-generation family owners appear as changers of governance approach.</description><subject>Annual reports</subject><subject>deal process</subject><subject>family business</subject><subject>family generation</subject><subject>Family owned businesses</subject><subject>Generations</subject><subject>governance</subject><subject>Investment policy</subject><subject>portfolio company</subject><subject>Strategic Entrepreneurship</subject><subject>Strategic planning</subject><subject>Strategiskt entreprenörskap (StrEnt)</subject><subject>Venture capital</subject><issn>2043-6238</issn><issn>2043-6246</issn><issn>2043-6246</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2023</creationdate><recordtype>article</recordtype><sourceid>XDTOA</sourceid><sourceid>AFKRA</sourceid><sourceid>AZQEC</sourceid><sourceid>BENPR</sourceid><sourceid>CCPQU</sourceid><sourceid>DWQXO</sourceid><sourceid>GNUQQ</sourceid><sourceid>GUQSH</sourceid><sourceid>M2O</sourceid><sourceid>D8T</sourceid><recordid>eNptkU9PwzAMxSsEEtPYB-AWiSsFJ2mblNvYGH80xAW4Rlnmbp26ZiTt0L49qYomIXGxffi9Z-s5ii4p3FAK8vZldv8ag4wZMBoD5NlJNGCQ8DhjSXZ6nLk8j0bebwCAguCphEE0HZNmjdYdiC3IHuumdUiM3pWNrkiht2V1IIvWlzV6f0c0Wdk9ulrXBknj9AZNE7QX0VmhK4-j3z6MPmYP75OneP72-DwZz2OTpLQJlXMmhcQiSQAMLAXDghshUpkujUjSNEdueFYsWWZ4OL2QHAOfas2NzjM-jK57X_-Nu3ahdq7candQVpdqWn6OlXUrtS69YiDyJOBXPb5z9qtF36iNbcPxVQAkZTnITECgaE8ZZ713WBxtKaguXtXFq0Lv4lVdvEFDeg0aW4d9R4VMEyoySWlA4BfZotPV8l_XP0_jP0hWhNU</recordid><startdate>20230516</startdate><enddate>20230516</enddate><creator>Ljungkvist, Torbjörn</creator><creator>Boers, Börje</creator><general>Emerald Publishing Limited</general><general>Emerald Group Publishing Limited</general><scope>XDTOA</scope><scope>OQ6</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>0U~</scope><scope>1-H</scope><scope>7WY</scope><scope>7WZ</scope><scope>7X5</scope><scope>7XB</scope><scope>AFKRA</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>F~G</scope><scope>GNUQQ</scope><scope>GUQSH</scope><scope>K6~</scope><scope>L.-</scope><scope>L.0</scope><scope>M0C</scope><scope>M2O</scope><scope>MBDVC</scope><scope>PADUT</scope><scope>PQBIZ</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PYYUZ</scope><scope>Q9U</scope><scope>ABSHZ</scope><scope>ADTPV</scope><scope>AOWAS</scope><scope>D8T</scope><scope>DF6</scope><scope>ZZAVC</scope><orcidid>https://orcid.org/0000-0002-8337-3472</orcidid><orcidid>https://orcid.org/0000-0003-4776-0085</orcidid></search><sort><creationdate>20230516</creationdate><title>A theory of venture capital family business: a governance trajectory</title><author>Ljungkvist, Torbjörn ; Boers, Börje</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c451t-c4332878ef4400c0d72ef3c77585dc74559e3c36fd26c3246f83e8785aa3ca963</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2023</creationdate><topic>Annual reports</topic><topic>deal process</topic><topic>family business</topic><topic>family generation</topic><topic>Family owned businesses</topic><topic>Generations</topic><topic>governance</topic><topic>Investment policy</topic><topic>portfolio company</topic><topic>Strategic Entrepreneurship</topic><topic>Strategic planning</topic><topic>Strategiskt entreprenörskap (StrEnt)</topic><topic>Venture capital</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Ljungkvist, Torbjörn</creatorcontrib><creatorcontrib>Boers, Börje</creatorcontrib><collection>Emerald Open Access</collection><collection>ECONIS</collection><collection>CrossRef</collection><collection>Global News & ABI/Inform Professional</collection><collection>Trade PRO</collection><collection>Access via ABI/INFORM (ProQuest)</collection><collection>ABI/INFORM Global (PDF only)</collection><collection>Entrepreneurship Database</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>ProQuest Central UK/Ireland</collection><collection>ProQuest Central Essentials</collection><collection>ProQuest Central</collection><collection>Business Premium Collection</collection><collection>ProQuest One Community College</collection><collection>ProQuest Central Korea</collection><collection>ABI/INFORM Global (Corporate)</collection><collection>ProQuest Central Student</collection><collection>Research Library Prep</collection><collection>ProQuest Business Collection</collection><collection>ABI/INFORM Professional Advanced</collection><collection>ABI/INFORM Professional Standard</collection><collection>ABI/INFORM Global</collection><collection>Research Library</collection><collection>Research Library (Corporate)</collection><collection>Research Library China</collection><collection>ProQuest One Business</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>ABI/INFORM Collection China</collection><collection>ProQuest Central Basic</collection><collection>SWEPUB Högskolan i Skövde full text</collection><collection>SwePub</collection><collection>SwePub Articles</collection><collection>SWEPUB Freely available online</collection><collection>SWEPUB Högskolan i Skövde</collection><collection>SwePub Articles full text</collection><jtitle>Journal of family business management</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Ljungkvist, Torbjörn</au><au>Boers, Börje</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>A theory of venture capital family business: a governance trajectory</atitle><jtitle>Journal of family business management</jtitle><date>2023-05-16</date><risdate>2023</risdate><volume>13</volume><issue>2</issue><spage>503</spage><epage>522</epage><pages>503-522</pages><issn>2043-6238</issn><issn>2043-6246</issn><eissn>2043-6246</eissn><abstract>PurposeThe purpose of this study is to understand venture capital family businesses (VCFBs) governance of portfolio companies through the deal process.Design/methodology/approachThis study applies a theory-developing approach. A model of VCFB governance is developed whose key aspects are illuminated by four examples (cases) of VCFBs.FindingsRecent research suggests that a venture capital firm's corporate deal processes can be divided into the pre-deal, deal and post-deal phases. Based on the age, size and succession dimensions, propositions for how a governance trajectory develops for VCFBs, affecting the deal process of target family firms (TFFs), are presented. These propositions highlight how the family owners' actions and behavior are related to VCFB governance, which in turn, influences the three phases involved in making an investment.Originality/valueThe propositions suggest how personal and administrative VCFBs' governance of the deal process of portfolio companies is significantly affected by centrifugal and centripetal forces that drive the respective types of governance where third-generation family owners appear as changers of governance approach.</abstract><cop>Bingley</cop><pub>Emerald Publishing Limited</pub><doi>10.1108/JFBM-08-2021-0096</doi><tpages>20</tpages><orcidid>https://orcid.org/0000-0002-8337-3472</orcidid><orcidid>https://orcid.org/0000-0003-4776-0085</orcidid><oa>free_for_read</oa></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 2043-6238 |
| ispartof | Journal of family business management, 2023-05, Vol.13 (2), p.503-522 |
| issn | 2043-6238 2043-6246 2043-6246 |
| language | eng |
| recordid | cdi_proquest_journals_2812908670 |
| source | SWEPUB Freely available online; Standard: Emerald eJournal Premier Collection |
| subjects | Annual reports deal process family business family generation Family owned businesses Generations governance Investment policy portfolio company Strategic Entrepreneurship Strategic planning Strategiskt entreprenörskap (StrEnt) Venture capital |
| title | A theory of venture capital family business: a governance trajectory |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-02T00%3A33%3A33IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_econi&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=A%20theory%20of%20venture%20capital%20family%20business:%20a%20governance%20trajectory&rft.jtitle=Journal%20of%20family%20business%20management&rft.au=Ljungkvist,%20Torbj%C3%B6rn&rft.date=2023-05-16&rft.volume=13&rft.issue=2&rft.spage=503&rft.epage=522&rft.pages=503-522&rft.issn=2043-6238&rft.eissn=2043-6246&rft_id=info:doi/10.1108/JFBM-08-2021-0096&rft_dat=%3Cproquest_econi%3E2812908670%3C/proquest_econi%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=2812908670&rft_id=info:pmid/&rfr_iscdi=true |