German Venture-Capital Firms and Portfolio-Company Performance: What Types of Management Support Make a Difference?
探讨德国风险投资公司应如何参与投资组合公司的管理，发现提供董事会服务或财务建议等非货币支持能提升公司绩效，且外部环境增长是驱动支持的关键因素。
The article discusses how involved venture-capital firms (VCFs) in Germany should be with companies in their investment portfolios (PC). The author recommends that VCFs offer at least some level of non-monetary support to portfolio-company managers, such as serving on their board of directors or providing financial advice on business policy decisions. A VCF's level of involvement can have great impact on their PC's overall performance. It is possible for VCFs to have a level of control and directional power exceeding their minority stakeholder position. A VCF's investment may also impact management support in the German venture-capital industry based on its legal structure. The rate of growth in external environment is noted as a critical driver of management support by VCFs.