01282nas a2200169   4500008004100000245011600041210006900157260000900226300001600235490000600251520062000257653003200877100002600909700002000935700002400955856013300979       2015                        eng d00aChanging the Business Model: Effects of Venture Capital Firms and Outside CEOs on Portfolio Company Performance0 aChanging the Business Model Effects of Venture Capital Firms and  c2015  apages 79-980 v93 aThis study extends extant research on business model change by examining the impact of venture capital firms (VCFs) on the performance of young ventures that have substantially changed their business model. The analysis, using a unique dataset of 163 venture capital-backed portfolio companies (PFCs), reveals a positive relationship between the scope of VCF involvement and PFC performance. Furthermore, the VCFs’ experience with business model change and the recruitment of an outside CEO to the PFC both increase the positive impact of VCF involvement. These findings have implications for theory and practice.10aStrategy & Entrepreneurship1 aGerasymenko, Violetta1 aDe Clercq, Dirk1 aSapienza, Harry, J.  u/biblio/changing-business-model-effects-venture-capital-firms-and-outside-ceos-portfolio-company