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In this paper we aim to empirically test the monitoring effect of Venture Capital financing on portfolio companies. Following Bernstein et al. (2015), we exploit the introduction of a new airline route between investor and investee locations as an exogenous shock lowering the cost of monitoring...
Persistent link: https://www.econbiz.de/10012964608
We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This … related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects … innovation and changing external conditions, especially reduced experimentation costs …
Persistent link: https://www.econbiz.de/10013002671
We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This … related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects … innovation and changing external conditions, especially reduced experimentation costs …
Persistent link: https://www.econbiz.de/10013031824
We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This … related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects … innovation and changing external conditions, especially reduced experimentation costs …
Persistent link: https://www.econbiz.de/10012457990
markets play a critical role in fostering economic productivity by financing innovation. But only a few SME exchanges function …
Persistent link: https://www.econbiz.de/10012556263
Staged financing of venture capital-backed firms is valuable to both investors and entrepreneurs, but comes with a potential cost: hold-up. With asymmetric information and strong control rights, financial intermediaries may earn rents on their inside knowledge. We find that environments where...
Persistent link: https://www.econbiz.de/10011864967
Persistent link: https://www.econbiz.de/10012794222
We provide the first measurement of knowledge spillovers from venture capital-financed companies onto the patenting activities of other companies. On average, these spillovers are nine times larger than those generated by the R&D investment of established companies. Spillover effects are larger...
Persistent link: https://www.econbiz.de/10011762520
We provide the first measurement of knowledge spillovers from venture capital-financed companies onto the patenting activities of other companies. On average, these spillovers are nine times larger than those generated by the R&D investment of established companies. Spillover effects are larger...
Persistent link: https://www.econbiz.de/10011718181
Persistent link: https://www.econbiz.de/10003498121