Some companies engage in mass fundraising in addition to their core business. Via a corporate social responsibility (CSR) channel this may increase sales. However, ask avoidance, if present, could imply that fundraising activities may harm a company's core business. We examine how asking for...

Some companies engage in mass fundraising - where thousands of recipients are asked to make small donations - in addition to their core business. Via a corpo-rate social responsibility (CSR) channel this may increase sales. However, recent research uncovered significant "ask avoidance" which, if...

In a n experiment, we test the impact of quality certificates on donation s to a charity. Compared to the control group, participants presented with a quality certificate chose higher donations by around 10% and reported higher trust towards the same charity . The choice of donation values over...

In an experiment, we test the impact of quality certificates on donations to a charity. When presented with a quality certificate, participants chose higher donations by approximately 10%. This effect is significant for donations out of prize money and actual own money donations, and not...

In recent years governments around the world have introduced policies to stimulate investments in early stage entrepreneurial companies, in particular investments by Angel investors. In this paper we study whether introducing subsidies to Angel investors has effects on startups’ access to...

We provide the first measurement of knowledge spillovers from venture capital-financed companies onto the patenting activities of other companies. On average, these spillovers are nine times larger than those generated by the R&D investment of established companies. Spillover effects are larger...

Research suggests that public subsidies for newly founded firms have a positive effect on follow-on financing, in particular, Venture Capital (VC). This study differentiates between Government VC, Independent VC, Corporate VC, and Business Angels and shows that public subsidies are not relevant...

Several papers find a positive association between a bank's equity stake in a borrowing firm and lending to that firm. While such a positive cross-sectional correlation may be due to equity stakes benefiting lending, it may also be driven by endogeneity. To distinguish the two, we study a German...

We demonstrate how the incentives of firms that partially own their suppliers or customers to foreclose rivals depend on how the partial owner can extract profits from the target. Compared to a fully vertically integrated firm, a partial owner may obtain only a share of the target's profit but...