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participate, and over 50% of them are entrepreneurs. We then exploit an identification strategy by comparing the entrepreneurial …
Persistent link: https://www.econbiz.de/10014437028
In this paper we explore whether or not the experience as a founder of a venture capital-backed startup influences the performance of founders who become venture capitalists (VCs). We find that nearly 7% of VCs were previously founders of a venture-backed startup. Having a successful exit and...
Persistent link: https://www.econbiz.de/10013191001
This paper argues that a large component of success in entrepreneurship and venture capital can be attributed to skill …. We show that entrepreneurs with a track record of success are more likely to succeed than first time entrepreneurs and … for entrepreneurs without a successful track record. Similarly, more experienced venture capitalists are able to identify …
Persistent link: https://www.econbiz.de/10012466069
The provision of venture debt financing to growth-oriented startups which are backed by venture capital (VC) equity has been a bit of a puzzle given the lack of positive cash flows or traditional collateral of such startups. This short paper lays out the hurdles for debt to overcome to be a...
Persistent link: https://www.econbiz.de/10014512037
From 2010 to 2021, 639 US VC-funded firms achieved unicorn status. We investigate why there are so many unicorns and why controlling shareholders give investors privileges to obtain unicorn status. We show that unicorns rely more than other VC-funded firms on organizational capital as well as...
Persistent link: https://www.econbiz.de/10013435166
We analyze determinants of access to venture capital for Black founders of high-growth startups. We combine image- and name-processing algorithms with clerical review to identify race for over 100,000 startup founders "at risk" for venture funding. Black founders raise roughly one-third as much...
Persistent link: https://www.econbiz.de/10013462730
article considers one friction that currently affects a small, but important, set of entrepreneurs: racial and gender … financing of startups. Female founders manage 16-25% of all startups, while Black entrepreneurs rarely exceed 3% of the startup … underrepresented founders. The article ends with an extensive set of research ideas motivated by the gaps in the entrepreneurship …
Persistent link: https://www.econbiz.de/10013388800
With an overall lack of gender and ethnic diversity in the innovation sector documented in Gompers and Wang (2017), we ask the natural next question: Does increased diversity lead to better firm performances? In this paper, we attempt to answer this question using a unique dataset of the gender...
Persistent link: https://www.econbiz.de/10012455227
the past decade. Our primary finding is that successful entrepreneurs are middle-aged, not young. The mean founder age for … successful entrepreneurs …
Persistent link: https://www.econbiz.de/10012453226
. Such frictions can help explain part of the gender gap in entrepreneurship, and also have implications for how to design …
Persistent link: https://www.econbiz.de/10012480392