This paper argues that a large component of success in entrepreneurship and venture capital can be attributed to skill … further support for the role of skill in both entrepreneurship and venture capital …

How does firm entry affect innovation incentives and productivity growth in incumbent firms? Micro-data suggests that … threat spurs innovation incentives in sectors close to the technological frontier--successful innovation allows incumbents to … prevent entry. In laggard sectors it discourages innovation--increased entry threat reduces incumbents' expected rents from …

-based innovation system. We develop an analytical model where startups are more efficient at solving technical challenges and … technical and commercial challenges, typical of deep tech innovations, are especially disadvantaged in a startup … incumbents are more efficient at solving commercial challenges. We find that the startup-based system works better for …

. Such frictions can help explain part of the gender gap in entrepreneurship, and also have implications for how to design …

important role that entrepreneurship is believed to play in the process of economic growth, alleviating financing constraints … examining the relevance of financing constraints for entrepreneurship. We then introduce a framework that provides a unified …

aversion, higher initial assets, preferences for entrepreneurship over employment, and optimistic beliefs about the payoffs …

an entrepreneurial sector, the paper investigates the effects of taxes on the equilibrium level of entrepreneurship and …