How venture capital institutions affect the structure of startups’ board of directors

Abstract

Venture Capital institutions is different from the general investors, they provide enterprises with not only funds but also improvements on the aspect of corporate. This paper took 285 companies listed before December 31, 2011 as samples; mainly studies VCI affect the board independence and professional structure. Results showed that theVCs can significantly improve the professionalism and independence of the board of directors. Research provides new empirical evidence for the inner mechanism of the venture capital to improve startups performance.