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Private Equity and the Innovation Strategies of Entrepreneurial Firms: Empirical Evidence from the Small Business Innovation Research Program
Link, Albert N.; Ruhm, Christopher; Siegel, Donald S. - National Bureau of Economic Research (NBER) - 2012
There is great interest in evaluating the impact of private equity investments on innovation and economic growth …. However, there is no direct empirical evidence on the effects of such transactions on the innovation strategies of … Business Innovation Research (SBIR) program research awards. We find that SBIR firms attracting private equity investments are …
Persistent link: https://www.econbiz.de/10010951404
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Labor Regulations and European Private Equity
Bozkaya, Ant; Kerr, William R. - National Bureau of Economic Research (NBER) - 2009
European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment insurance benefits) for providing worker insurance. Employment regulations more directly tax firms making frequent labor adjustments than other labor insurance mechanisms....
Persistent link: https://www.econbiz.de/10008624615
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The Consequences of Entrepreneurial Finance: A Regression Discontinuity Analysis
Lerner, Josh; Schoar, Antoinette; Kerr, William R. - National Bureau of Economic Research (NBER) - 2010
This paper documents the role of angel funding for the growth, survival, and access to follow-on funding of high-growth start-up firms. We use a regression discontinuity approach to control for unobserved heterogeneity between firms that obtain funding and those that do not. This technique...
Persistent link: https://www.econbiz.de/10008628350
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Innovation and the Financial Guillotine
Nanda, Ramana; Rhodes-Kropf, Matthew - National Bureau of Economic Research (NBER) - 2013
failure tolerance and a sharp guillotine helps explain when and where radical innovation occurs. …
Persistent link: https://www.econbiz.de/10010692200
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Financing Innovation
Kerr, William R.; Nanda, Ramana - National Bureau of Economic Research (NBER) - 2014
We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This … related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects … innovation and changing external conditions, especially reduced experimentation costs. …
Persistent link: https://www.econbiz.de/10011071740
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Business Partners, Financing, and the Commercialization of Inventions
Serrano, Carlos J.; Åstebro, Thomas - National Bureau of Economic Research (NBER) - 2011
This paper studies the effect of business partners on the commercialization of nvention based ventures, and it assesses the relative importance of partners' human and social capital on commercialization outcomes. Projects run by partnerships were five times more likely to reach...
Persistent link: https://www.econbiz.de/10009151111
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Private Equity and Long-Run Investment: The Case of Innovation
Lerner, Josh; Stromberg, Per; Sørensen, Morten - National Bureau of Economic Research (NBER) - 2008
-term performance. We investigate 495 transactions with a focus on one form of long-term activities, namely investments in innovation as …
Persistent link: https://www.econbiz.de/10005774804
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When Does Funding Research by Smaller Firms Bear Fruit?: Evidence from the SBIR Program
Gans, Joshua S.; Stern, Scott - National Bureau of Economic Research (NBER) - 2000
This paper evaluates whether the relative concentration of funding for small, research-oriented firms in a small number of high-tech industries is related to the differences across industries in the level of appropriability or capital constraints facing small firms. To do so, we exploit a novel...
Persistent link: https://www.econbiz.de/10005088621
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The Impact of Litigation on Venture Capitalist Reputation
Atanasov, Vladimir; Ivanov, Vladimir; Litvak, Kate - National Bureau of Economic Research (NBER) - 2007
Venture capital contracts give VCs enormous power over entrepreneurs and early equity investors of portfolio companies. A large literature examines how these contractual terms protect VCs against misbehavior by entrepreneurs. But what constrains misbehavior by VCs? We provide the first...
Persistent link: https://www.econbiz.de/10005829655
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Private Equity and Employment
Davis, Steven; Haltiwanger, John; Jarmin, Ron S.; … - National Bureau of Economic Research (NBER) - 2011
150,000 establishments before and after acquisition, comparing outcomes to controls similar in terms of industry, size …
Persistent link: https://www.econbiz.de/10009278256