Entrepreneurial Litigation and Venture Capital Finance
实证研究了创业公司作为原告的诉讼与风险投资之间的互动关系，发现诉讼时机影响VC声誉、监督力度、融资额及退出方式，对创业者和投资者有参考价值。
This article empirically examines the interaction between entrepreneurial plaintiff firm litigation and venture capital (VC). The data indicate that, relative to nonplaintiffs, firms that litigate prior to (after) obtaining VC i) receive financing from less (more) reputable venture capitalists (VCs), ii) are subject to greater (similar) oversight by VCs, iii) receive less (more) VC funding, iv) are more likely to exit through an initial public offering than through an acquisition, and v) are less likely to be liquidated when litigation occurs after VC financing. The results are robust to different specifications, methodologies, and endogeneity checks.