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Persistent link: https://www.econbiz.de/10010452935
Early-stage firms utilize venture debt in one-third of financing rounds despite their general lack of cash flow and collateral. In our model, we show how venture debt aligns incentives within a firm. We derive a novel theoretical channel in which runway extension through debt increases firm...
Persistent link: https://www.econbiz.de/10012481445
The United States emerged from World War II as the acknowledged global leader in basic science and its industrial application. While U.S. science has been able to maintain that preeminence in most areas, the nation's technological lead has met increasingly formidable challenges from abroad....
Persistent link: https://www.econbiz.de/10012476553
The returns to face-to-face interactions are of central importance to understanding the determinants of agglomeration. However, the existing literature studying patterns of geographic proximity in patent citations or industrial co-location has struggled to disentangle the benefits of...
Persistent link: https://www.econbiz.de/10013334366
the israeli economy in the nineties and beyond. In this paper we present a close-up portrait of innovation in Israel for …
Persistent link: https://www.econbiz.de/10012471778
This article investigates how a firm's financial strength affects its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German firms in high-tech manufacturing industries. The model incorporates a measure of the firm's financial strength, derived from...
Persistent link: https://www.econbiz.de/10012456639
The standard view of U.S. technological history is that the locus of invention shifted during the early twentieth century to large firms whose in-house research laboratories were superior sites for advancing the complex technologies of the second industrial revolution. In recent years this view...
Persistent link: https://www.econbiz.de/10012463209
This paper estimates the relative price sensitivity of individuals' choice of whether to buy computers online versus in retail stores using a new data source on the computer purchase behavior of more than 20,000 people. To estimate the degree of competition between the two channels, the paper...
Persistent link: https://www.econbiz.de/10012470369
We study the innovation and diffusion of technology at the industry level. We derive the full dynamic paths of an …
Persistent link: https://www.econbiz.de/10012482238
STEM PhDs /Ina Ganguli and Patrick Gaulé --II. Immigration policy and innovation.High-skill immigration, innovation, and … and Chungeun Yoon --III. Immigration and entrepreneurship.Immigrant entrepreneurs and innovation in the U.S. high … the links between immigration policy in determining who can come into the country and the rate of innovation among …
Persistent link: https://www.econbiz.de/10012040463