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Foreign direct investment and domestic entrepreneurship: blessing or curse?

Estrin, Saul; Hülya Danakol, Seçil; Reynolds, Paul; … - London School of Economics (LSE) - 2014

This paper explores the effects of foreign direct investment, measured by mergers and acquisitions, on domestic entrepreneurial entry. We use a micro‐panel of more than two thousand individuals disaggregated by industry in seventy countries including both developed and developing economies,...

Persistent link: https://www.econbiz.de/10011126345

Does cultural diversity help innovation in cities: evidence from London firms

Lee, Neil; Nathan, Max - London School of Economics (LSE) - 2011

London is one of the world’s major cities, and one of its most diverse. London’s cultural diversity is widely seen as a social asset, but there is little hard evidence on its importance for the city’s businesses. Theory and evidence suggest various links between urban cultural diversity...

Persistent link: https://www.econbiz.de/10010745829

Entrepreneurship: can the Jack-of-all-trades attitude be acquired?

Silva, Olmo - London School of Economics (LSE) - 2004

Entrepreneurs are believed to be the ultimate engine of modern economic systems. Yet, the study of entrepreneurship …-of-All-Trades (JATs), have a high probability of becoming entrepreneurs. In this paper, I investigate whether the JAT Attitude is just an … innate ability or a skill that can be trained to enhance individuals’ chances of becoming entrepreneurs. Using panel …

Persistent link: https://www.econbiz.de/10010746173

Ethnic inventors, diversity and innovation in the UK: evidence from patents microdata

Nathan, Max - London School of Economics (LSE) - 2011

Ethnic inventors play important roles in US innovation systems, especially in high-tech regions like Silicon Valley. Do ‘ethnicity-innovation’ channels exist elsewhere? This paper investigates, using a new panel of UK patents microdata. In theory, ethnicity might affect positively innovation...

Persistent link: https://www.econbiz.de/10011126072

Here be startups: exploring a young digital cluster in inner East London

Nathan, Max; Vandore, Emma - London School of Economics (LSE) - 2013

The digital industries cluster known as 'Silicon Roundabout' has been quietly growing in East London since the 1990s. Now rebranded 'Tech City', it is now the focus of huge public and government attention. National and local policymakers wish to accelerate the local area's development: such...

Persistent link: https://www.econbiz.de/10011126076

The growth potential of startups over the business cycle

Sedlacek, Petr; Sterk, Vincent - London School of Economics (LSE) - 2014

This paper shows that job creation of cohorts of U.S. firms is strongly influenced by aggregate conditions at the time of their entry. Using data from the Business Dynamics Statistics (BDS) we follow cohorts of young firms and document that their employment levels are very persistent and largely...

Persistent link: https://www.econbiz.de/10011126359

Cultural diversity, cities and innovation: firm effects or city effects?

Lee, Neil - London School of Economics (LSE) - 2013

Growing cultural diversity is seen as important for innovation. Research has focused on two potential mechanisms: a firm effect, with diversity at the firm level improving knowledge sourcing or ideas generation, and a city effect, where diverse cities helping firms innovate. This paper uses a...

Persistent link: https://www.econbiz.de/10011126722

Reputation effects in trading on the New York Stock Exchange

Battalio, Robert; Ellul, Andrew; Jennings, Robert - London School of Economics (LSE) - 2005

Theory suggests that reputations, developed in repeated face-to-face interactions, allow nonanonymous, floor-based trading venues to attenuate adverse selection in the trading process. We identify instances when stocks listed on the New York Stock Exchange (NYSE) experience a non-trivial...

Persistent link: https://www.econbiz.de/10010884510

Block-booking and IPO share allocation: the importance of being ignorant

Gondat-Larralde, Celine; James, Kevin R. - London School of Economics (LSE) - 2004

Given the opportunity to buy IPO shares of uncertain value at a fixed price, potentially informed investors have an incentive to refuse to participate in offerings the underwriter happens to overprice. We show that an underwriter can efficiently resolve this problem by entering into a repeat...

Persistent link: https://www.econbiz.de/10010745055

IPO underpricing during the boom: a block-booking explanation

James, Kevin R. - London School of Economics (LSE) - 2004

A bank can efficiently underwrite individually difficult to value IPOs by offering them as a package deal to a stable coalition of investors (block-booking). Block-booking banks set offer prices to equalize downside risk across their offerings, not expected returns. Examining US IPOs over the...

Persistent link: https://www.econbiz.de/10010745328