000			01395nab a22001937a 4500
008			160615b2014 xxu||||| |||| 00| 0 eng d
100			_aJaaskelainen, Mikko
245			_aDo networks of financial intermediaries help reduce local bi _cEvidence from cross-border venture capital exits / Jaaskela
260			_c2014
300			_a704-721
520			_aContributing to the literature on local bias and financial networks, we examine how direct and indirect network ties of financial intermediaries mitigate the effects of distance and preference for local investments. In our analysis of cross-border venture capital exits, we find that proximity within networks facilitates cross-border transactions, which suggests that network distance is an important dimension of distance in addition to its geographical and cultural dimensions. The results also suggest that network distance affects the reach and quality of mediated information: indirect ties to partners' partners, with their broad reach, facilitate the identification of investment opportunities, whereas direct ties, which have certification effects, facilitate quality assessment.
650			_aCultural Distance
650			_aGeographical Distance
650			_aNetwork Distance
650			_aExits
650			_aCross-Border Venture Capital
650			_aVenture Capital
773			_aJournal of Business Venturing _dSeptember
999			_c41536 _d41536