Hony Capital and Jushi Group

Josh   Lerner; Shai  Bernstein; Ann  Leamon

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Teaching Note | HBS Case Collection | December 2019

Hony Capital and Jushi Group

by Josh Lerner, Shai Bernstein and Ann Leamon

Abstract

Teaching Note for HBS No. 820-040.

Keywords: real estate; Investing; manufacturing; Private Equity; Asset Management; Investment; Factories, Labs, and Plants; Finance; China; United States;

Language: English

Format: Print

15 pages

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Citation:

Lerner, Josh, Shai Bernstein, and Ann Leamon. "Hony Capital and Jushi Group." Harvard Business School Teaching Note 820-073, December 2019.

About the Authors

Josh Lerner

Jacob H. Schiff Professor of Investment Banking

Entrepreneurial Management

Finance

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Shai Benjamin Bernstein

Associate Professor of Business Administration

Entrepreneurial Management

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Working Paper | HBS Working Paper Series | 2020

Does Venture Capital Attract Human Capital? Evidence from a Randomized Field Experiment

Shai Bernstein, Kunal Mehta and Richard Townsend

Attracting talent is widely believed to be critical to the success of a startup. In this paper, we investigate whether potential employee interest in a startup is affected by venture capital funding. We do so by analyzing a field experiment conducted on Angel-List Talent, a large online search platform for startup jobs. In the experiment, whether a startup was funded by top-tier VCs and/or whether it was funded recently is randomly highlighted in search results. We find that the same startup receives significantly more interest from potential employees when the fact that it was funded by a top-tier VC is highlighted. In contrast, highlighting the fact that a startup was funded recently has no effect. High-quality job candidates care the most about the identities of startup investors. The results provide direct evidence of the certification role played by VCs and their impact on the labor market.

Keywords: Startup; funding; Venture Capital; Business Startups; Employees; Attitudes;

Citation:
Bernstein, Shai, Kunal Mehta, and Richard Townsend. "Does Venture Capital Attract Human Capital? Evidence from a Randomized Field Experiment." Harvard Business School Working Paper, No. 21-049, October 2020. View Details

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Hony Capital and Jushi Group

Abstract

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