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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...
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Our study analyzes the effect of the capital gains tax on the individual investment decisions of venture capitalists. By doing so, we are able to study the decisions for a sample of 76,852 funding rounds in 32 countries from 2000 to 2012. Our results support the predictions of the theoretical...
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harmful for innovation and if so, whether compulsory licensing can provide an effective remedy. The consent decree settled an …-on innovation building on Bell patents by 17%. This effect is driven mainly by young and small companies. Yet, innovation increased … only outside the telecommunications equipment industry. The lack of a positive innovation effect in the telecommunications …
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