Exploring performance drivers for technology-based ventures from early stage to expansion: perspectives of venture capitalists. Issue 4 (2nd October 2017)

• Record Type: Journal Article
• Authors: Ng, Artie W.; Macbeth, Douglas; Yip, Leslie S. C.
• Is Part Of: Venture capital. Volume 19:Issue 4(2017)
• Page Start: 335
• Page End: 359
• Publication Date: 2017-10-02
• Subjects: Intellectual capital -- performance drivers -- performance measurement and management -- technology-based venture -- venture capital; Venture capital -- Periodicals; Entrepreneurship -- Periodicals; 332.041
• DOI: 10.1080/13691066.2017.1334302
• Languages: English
• ISSNs: 1369-1066

Abstract

Abstract: This study aims to explore the performance drivers perceived by venture capitalists in monitoring the early-stage development and performance of technology-based ventures (TBVs). A framework is developed with a scorecard of intellectual capital as feed-forward performance drivers of outcomes to articulate the underlying performance management mechanism assumed by venture capitalists. Such mechanism facilitates monitoring performance of TBVs from the early stage to expansion by the venture capitalists as key equity stakeholders. A mixed research approach composed of a survey and supplementary interviews is adopted for this study. The findings through triangulation reveal the relevance of a dynamic scorecard for monitoring performance that needs to be reconfigured with differentiated significance in the course of a TBV's development and growth. It suggests the pertinence of intellectual capital as performance drivers to enhance performance measurement and management of TBVs as well as the perspectives of venture capitalists in cultivating TBVs' performance.