The consequences of conflict between the venture capitalist and the entrepreneurial team in the United Kingdom from the perspective of the venture capitalist |
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| Affiliation: | 1. Luleå University of Technology, Sweden;2. Hanken School of Economics, Finland;3. University of St Gallen, Switzerland;4. Aalto University School of Business, Finland;5. Universidad del Desarrollo, Chile;6. University of Warwick, Business School, UK;7. Queensland University of Technology, QUT Business School, Australia;1. Silberman College of Business, Fairleigh Dickinson University, Madison, NJ 07940, United States;2. Department of Entrepreneurship & Emerging Enterprises, Whitman School of Management, Syracuse University, Syracuse, NY 13244, United States;1. Department of Management, Entrepreneurship, and Leadership, Neeley School of Business, Texas Christian University, 2900 Lubbock Avenue, Fort Worth, TX 76109, United States;2. Division of Entrepreneurship and Economic Development, Price College of Business, 307 W. Brooks Ave., University of Oklahoma, Norman, OK 73019-0450, United States;3. Department of Management & Entrepreneurship, Kelley School of Business, 1275 E. 10th Street, Indiana University, Bloomington, IN 47405, United States;4. Department of Management, UCF College of Business Administration, PO Box 161400, Orlando, FL 32816-1400, United States;5. Department of Management, Information Systems, & Entrepreneurship, Carson College of Business, 442 Todd Hall, Washington State University, Pullman, WA 99164, United States;1. School of Business, Renmin University of China, China;2. Kelley School of Business, Indiana University, United States of America |
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| Abstract: | This research investigates the factors associated with the nature of conflict in the post-investment relationship between the venture capitalist (VC) and the entrepreneurial team (EP) in a venture that was funded by the venture capital firm, and as perceived by the VC. The study hypothesises a relationship between this perceived conflict and the post-investment performance of the investee firm. It examines both cognitive and affective conflict in two strategic areas — organisational goals and policy decisions — and relates them to the performance. The data was collected by a survey of VCs in the UK and a 60% effective response rate was achieved. The results show that conflict as disagreement can be beneficial for the venture performance, although at the same time, conflict as personal friction is negatively associated with performance. These impacts are in general stronger in the conflict related to organisational goals than to policy decisions. |
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