Small fish, big fish: The performance effects of the relative standing in partners' affiliate portfolios
研究创业企业在合作伙伴的附属组合中的相对地位（即按预期回报的排名）如何影响其获取资源及绩效，并发现当合作伙伴组合更大或地位更高时，这种影响更显著。
This study examines whether the value a venture derives from an affiliation depends on its relative standing in the portfolio of all affiliations held by its partner. Relative standing refers to how the venture ranks among other ventures in the partner's portfolio with respect to expected returns. The relative standing of a venture in its partner's portfolio influences the venture's access to the partner's resources and the venture's performance. We also argue that a venture's relative standing becomes more important to performance when the partner has a larger portfolio or higher status. In addition to a field study, we test the effect of a venture's relative standing in a venture capital portfolio on its exit likelihood, controlling for endogeneity. We find support for our hypotheses . Copyright © 2014 John Wiley & Sons, Ltd.