Due Diligence and the Allocation of Venture Capital

How do investors choose the intensity of their due diligence, and how does that choice affect investment outcomes? Using cell phone signal data, we measure the duration of pre-investment meetings between venture capitalists (VCs) and startup employees. This measure captures one important component

投资者如何抉择尽职调查的强度，而该抉择又会对投资结果产生何种影响？本研究借助手机信令数据，量化了风险投资（VC）与初创企业员工在投资前会面的时长。这一指标可体现尽职调查的一项重要组成部分。

搜集汇总

背景与挑战

背景概述

该数据集是一项关于风险投资尽职调查与资本分配的研究，基于手机信号数据测量VCs与初创企业员工的会议时长，以量化尽职调查强度。研究发现，尽职调查较少与交易热度、市场条件、投资者忙碌度及距离正相关，并导致投资绩效波动性增加，体现了VCs在尽职调查成本与资本分配优化之间的权衡。