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Do Startups Benefit from Their Investors' Reputation? Evidence from a Randomized Field Experiment / Shai Bernstein, Kunal Mehta, Richard R. Townsend, Ting Xu.
- Format:
- Book
- Author/Creator:
- Bernstein, Shai.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w29847.
- NBER working paper series no. w29847
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2022.
- Summary:
- We analyze a field experiment conducted on AngelList Talent, a large online search platform for startup jobs. In the experiment, AngelList randomly informed job seekers of whether a startup was funded by a top-tier investor and/or was funded recently. We find that the same startup receives significantly more interest when information about top-tier investors is provided. Information about recent funding has no effect. The effect of top-tier investors is not driven by low-quality candidates and is stronger for earlier-stage startups. The results show that venture capitalists can add value passively, simply by attaching their names to startups.
- Notes:
- Print version record
- March 2022.
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