Why do people become part-time entrepreneurs? Are they credit constrained? Previous studies on entrepreneurship do not …

This paper addresses the choice between different exit routes of venture capitalists for a project yielding a quality …-improving product innovation. We explicitly introduce product market characteristics into the analysis with the aim to identify their … capitalist. The entrepreneur has incentives to distort the innovation strategy so as to make an IPO the preferred exit. We derive …

We analyze the effects of ownership type and concentration on performance of a population of firms in a model large … private ownership improve dynamic post-privatization performance. Concentrated foreign (but not domestic) ownership improves … some measures of performance relative to state ownership. Foreign investors engage in strategic restructuring by increasing …

from research institutions. Using data from the German innovation survey we investigate how firms are able to exploit … knowledge from external partners for successful innovation activities. The estimation results show that the determinants of … absorptive capacity differ with respect to the type of knowledge absorbed for innovation activities. In particular we find that …

special innovation-related assets by acquiring firms with “superior” innovative performance; or acquirers seeking to acquire … phenomenon and that economic and innovation related variables explain only a modest part of the probability of becoming a target …

following innovation- related factors on the propensity to acquire: R&D-intensity as a proxy for R&D inputs; the citation … smaller acquisitions can be seen as part of an innovation strategy by acquiring firms with relatively low levels of internal R …&D which seek to offset low R&D productivity by exploring a range of potential innovation trajectories in new and smaller …