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We present a theoretical model of startup signaling with multiple signals and potential differences in external investor preferences. For a novel sample of technology incubator startups, we empirically examine the use of patents and founder, friends, and family (FFF) money as such signals,...
Persistent link: https://www.econbiz.de/10013037983
The General Data Protection Regulation (GDPR) came into effect in the European Union in May 2018. We study its short-run impact on investment in new and emerging technology firms. Our findings indicate negative post-GDPR effects on EU ventures, relative to their US counterparts. The negative...
Persistent link: https://www.econbiz.de/10012908155
We estimate differences in innovation behavior between foreign versus U.S.-born entrepreneurs in high-tech industries … characteristics and innovation activities. We find uniformly higher rates of innovation in immigrant-owned firms for 15 of 16 … different innovation measures; the only exception is for copyright/trademark. The immigrant advantage holds for older firms as …
Persistent link: https://www.econbiz.de/10012892563
quality, follow-on innovation. Winning a first patent boosts a startup's subsequent growth and innovation by facilitating …
Persistent link: https://www.econbiz.de/10012960171
countries flock to learn how to develop an innovation ecosystem. However, the domestic market alone is far too small and … homegrown capital formation insufficient to foster that innovation. Globalization has been essential. The paper reviews the …
Persistent link: https://www.econbiz.de/10012906768
This paper analyzes the effects of top nanoscale scientists on industry entry in the comparative context of 5 major areas of science and technology, extending the concept of star scientist to all areas of science and technology. The results for nanotechnology are replicated using the...
Persistent link: https://www.econbiz.de/10012752307
This paper examines the division of founder shares in entrepreneurial ventures, focusing on the decision of whether or not to divide the shares equally among all founders. To motivate the empirical analysis we develop a simple theory of costly bargaining, where founders trade off the simplicity...
Persistent link: https://www.econbiz.de/10013068298
Financing constraints are one of the biggest concerns impacting potential entrepreneurs around the world. Given the important role that entrepreneurship is believed to play in the process of economic growth, alleviating financing constraints for would-be entrepreneurs is also an important goal...
Persistent link: https://www.econbiz.de/10013070601
The paper studies the effects of tax policy on venture capital activity. Entrepreneurs pursue a single high risk project each but have no own resources. Financiers provide equity finance. They must structure the entrepreneur's profit share and base salary to assure their incentives for full...
Persistent link: https://www.econbiz.de/10012783952
With an overall lack of gender and ethnic diversity in the innovation sector documented in Gompers and Wang (2017), we …
Persistent link: https://www.econbiz.de/10012955439