Narrow search
Showing 1 - 10 of 193
Cover Image
Venture Capital, Patenting, and Usefulness of Innovations
Fabrizi, Simona; Lippert, Steffen; Norbäck, Pehr-Johan; … - C.E.P.R. Discussion Papers - 2011
We analyze incentives to develop entrepreneurial ideas for venture capitalists (VCs) and incumbent firms. If VCs are sufficiently better at judging an idea's value and if it is sufficiently more costly to patent low than high value ideas, VCs acquire valuable ideas, develop them beyond the level...
Persistent link: https://www.econbiz.de/10009643508
Cover Image
Venture Capital and Innovation: Which is First?
Hirukawa, Masayuki; Ueda, Masako - C.E.P.R. Discussion Papers - 2008
that venture capital investments stimulate innovation ('VC-first hypothesis'). This interpretation is, however, one …-sided because there may be a reverse causality that innovations induce venture capital investments ('innovation-first hypothesis … causality issue of venture capital investments and innovation in the US manufacturing industry using both total factor …
Persistent link: https://www.econbiz.de/10005666846
Cover Image
The Organization of the Innovation Industry: Entrepreneurs, Venture Capitalists and Oligopolists
Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2006
Exit of venture-backed firms often takes place through sales to large incumbent firms. We show that in such an environment, venture-backed firms have a stronger incentive to develop basic innovations into commercialized innovations than incumbent firms, due to strategic product market effects....
Persistent link: https://www.econbiz.de/10005791605
Cover Image
The Financing of Innovation: Learning and Stopping
Bergemann, Dirk; Hege, Ulrich - C.E.P.R. Discussion Papers - 2001
This Paper considers the financing of a research project under uncertainty about the time of completion and the probability of eventual success. The uncertainty about future success diminishes gradually with the arrival of additional funding. The entrepreneur controls the funds and can divert...
Persistent link: https://www.econbiz.de/10005791971
Cover Image
Entrepreneurs and New Ideas
Biais, Bruno; Perotti, Enrico C - C.E.P.R. Discussion Papers - 2003
Innovative ideas are novel combinations of productive resources potentially addressing an economic need (Schumpeter, 1926). Even promising ideas can be unprofitable if the proposed combination fails on at least one dimension, e.g., it is technically unfeasible or does not respond to a genuine...
Persistent link: https://www.econbiz.de/10005792312
Cover Image
Venture Capital and Industrial ''Innovation''
Hirukawa, Masayuki; Ueda, Masako - C.E.P.R. Discussion Papers - 2008
measure of innovation alternative to patent count. Unlike the impact on patent count, we do not find that VC investment …
Persistent link: https://www.econbiz.de/10005136420
Cover Image
Optimal Public Policy for Venture Capital Backed Innovation
Keuschnigg, Christian - C.E.P.R. Discussion Papers - 2003
regard to the capital gains tax, innovation subsidy, public R&D spending and other policy initiatives. …
Persistent link: https://www.econbiz.de/10005497714
Cover Image
Venture Capital and Knowledge Transfer
Dessí, Roberta; Yin, Nina - C.E.P.R. Discussion Papers - 2015
communicate valuable knowledge to an entrepreneur, facilitating innovation. The venture capitalist can also communicate the … transfer, and their implications for investment, innovation, and product market competition. The model also sheds light on the …
Persistent link: https://www.econbiz.de/10011168896
Cover Image
Innovation, Spillovers and Venture Capital Contracts
Dessí, Roberta - C.E.P.R. Discussion Papers - 2012
Innovative start-ups and venture capitalists are highly clustered, benefiting from localized spillovers: Silicon Valley is perhaps the best example. There is also substantial geographical variation in venture capital contracts: California contracts are more 'incomplete'. This paper explores the...
Persistent link: https://www.econbiz.de/10011084393
Cover Image
Can Venture Capital Funds Pick Winners? Evidence from Pre-IPO Survival Rates and Post-IPO Performance
Ber, Hedva; Yafeh, Yishay - C.E.P.R. Discussion Papers - 2004
This Paper evaluates the ability of venture capital funds to identify and bring to market successful high-tech Israeli companies during the period 1991 to 2000. Using a newly constructed and highly detailed database we find that: (1) The probability of survival until the IPO stage is higher for...
Persistent link: https://www.econbiz.de/10005662160