求大佬帮忙翻译一下这2句话(风投声誉相关的)

This study explores the signaling and substantive value of high-reputation affiliates to young firms,
and the factors that moderate the nature of the value they provide。
We develop a time-varying, multi-item composite indexof VC reputation and use a sample of VC-backed IPOs between 1990 and 2000 to test ourhypotheses