Board dynamics over the startup life cycle

Venture capital (VC) backed firms face neither the regulatory requirements nor a major separation of ownership and control of their public peers. These differences suggest that independent directors could play a unique role on private firm boards. In a recent paper, Professor Malenko's explores the dynamics of VC-backed startup boards using novel data on director entry, exit, and characteristics. Professor Malenko and Michael Ewens document new facts about board composition, allocation of control, and dynamics, and examine the roles of independent directors.

• Nadya Malenko
• venture capital
• VC-backed startup boards
• private firm boards of directors
• Center on Finance Law and Policy