01316nas a2200169   4500008004100000245011500041210006900156260000900225300001000234490000700244520074700251653001200998100001701010700002401027700002301051856007201074       2018                        eng d00aBoard members' influence on resource investments to start-ups and IPO outcomes: Does prior affiliation matter?0 aBoard members influence on resource investments to startups and   c2018  a30-420 v493 aUsing data that contains career paths of start-up board members, we examine how their prior affiliations with various types of venture capital (VC) firms promote financial and human resource investments from the affiliated VC firm. We find that the likelihood of affiliation-based resource investments such as financing and board member engagement depends on the type of VC firms (e.g., bank-affiliated, corporate). Meanwhile, we find little evidence that affiliation-based resource investments lead to lower IPO costs and better post-IPO performances (i.e., return on assets, buy-and-hold abnormal returns, and failure rate). While prior affiliation could improve the inflow of resources, it might worsen screening and monitoring activities.10aFinance1 aMathew, Prem1 aTakahashi, Hidenori1 aYamakawa, Yasuhiro  uhttps://www.sciencedirect.com/science/article/pii/S0927538X17304468