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Investor Influence on Media Coverage: Evidence from Venture Capital-Backed Startups

By: Brian K. Baik and Albert Shin
  • Format:Print
  • | Language:English
  • | Pages:65
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Abstract

We examine the role of investors on the media coverage of their private firm investments. Specifically, we survey VC investors and find that 78% of the respondents take active steps to increase their portfolio companies’ media coverage. The survey results also demonstrate that increased media coverage supports the companies with better recognition and branding and provides benefits to diverse stakeholders. We extend the survey results using empirical tests. Both active VC monitoring and VC reputation are related to stronger effects. Overall, our findings emphasize the role of investors in media coverage decisions of private firms.

Keywords

Venture Capital; Entrepreneurship; Media; Reputation; Information

Citation

Baik, Brian K., and Albert Shin. "Investor Influence on Media Coverage: Evidence from Venture Capital-Backed Startups." Harvard Business School Working Paper, No. 24-073, May 2024.

About The Author

Brian K. Baik

Accounting and Management
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