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Investing with the Government : A Field Experiment in China
Colonnelli, Emanuele; Li, Bo; Liu, Ernest - National Bureau of Economic Research - 2022
We study the demand for government participation in China's venture capital and private equity market. We conduct a …
Persistent link: https://www.econbiz.de/10013334380
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Learning by Investing : Entrepreneurial Spillovers from Venture Capital
Lerner, Joshua; Li, Jinlin; Liu, Tong - National Bureau of Economic Research - 2023
China, we first document that individual LPs, on average, contribute about 50% of the capital of each fund in which they …
Persistent link: https://www.econbiz.de/10014437028
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Government as Venture Capitalists in AI
Beraja, Martin; Peng, Wenwei; Yang, David Y.; Yuchtman, Noam - National Bureau of Economic Research - 2024
and innovation community. China, in its pursuit of global leadership in AI innovation and technology, has set up … paper, we collect comprehensive data on China's government and private venture capital funds. We draw three important … funds' traditional role overcoming information frictions and China's unique institutional environment, which includes …
Persistent link: https://www.econbiz.de/10014635664
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Linguistic Traits and Human Capital Formation
Galor, Oded - 2020
This research establishes the influence of linguistic traits on human behavior. Exploiting variations in the languages spoken by children of migrants with identical ancestral countries of origin, the analysis indicates that the presence of periphrastic future tense, and its association with...
Persistent link: https://www.econbiz.de/10012479223
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Everybody's Talkin' at Me : Levels of Majority Language Acquisition by Minority Language Speakers
Brock, William A.; Chen, Bo; Durlauf, Steven N.; Weber, … - National Bureau of Economic Research - 2022
Immigrants in economies with a dominant native language exhibit substantial heterogeneities in language acquisition of the majority language. We model partial equilibrium language acquisition as an equilibrium phenomenon. We consider an environment where heterogeneous agents from various...
Persistent link: https://www.econbiz.de/10013362063
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Venture capital and other private equity : a survey
Metrick, Andrew; Yasuda, Ayako - 2010
"We review the theory and evidence on venture capital (VC) and other private equity: why professional private equity exists, what private equity managers do with their portfolio companies, what returns they earn, who earns more and why, what determines the design of contracts signed between (i)...
Persistent link: https://www.econbiz.de/10008806638
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Financial Contracting Theory Meets the Real World : An Empirical Analysis of Venture Capital Contracts
Kaplan, Steven N. - 2000
In this paper, we compare the characteristics of real world financial contracts to their counterparts in financial contracting theory. We do so by conducting a detailed study of actual contracts between venture capitalists (VCs) and entrepreneurs. We consider VCs to be the real world entities...
Persistent link: https://www.econbiz.de/10012471107
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Venture Capitalists' Access to Finance and Its Impact on Startups
Chen, Jun; Ewens, Michael - National Bureau of Economic Research - 2021
Although an extensive literature shows that startups are financially constrained and that constraints vary by geography, the source of these constraints is still relatively unknown. We explore intermediary financing constraints, a channel studied in the banking literature, but only indirectly...
Persistent link: https://www.econbiz.de/10012629431
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Uncertainty Shocks, Capital Flows, and International Risk Spillovers
Akinci, Ozge; Kalemli-Ozcan, Sebnem; Queralto, Albert - National Bureau of Economic Research - 2022
Foreign investors' changing appetite for risk-taking have been shown to be a key determinant of the global financial cycle. Such fluctuations in risk sentiment also correlate with the dynamics of UIP premia, capital flows, and exchange rates. To understand how these risk sentiment changes...
Persistent link: https://www.econbiz.de/10013210054
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Transferable Skills? Founders as Venture Capitalists
Gompers, Paul A.; Mukharlyamov, Vladimir - National Bureau of Economic Research - 2022
In this paper we explore whether or not the experience as a founder of a venture capital-backed startup influences the performance of founders who become venture capitalists (VCs). We find that nearly 7% of VCs were previously founders of a venture-backed startup. Having a successful exit and...
Persistent link: https://www.econbiz.de/10013191001