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Financing Innovation
Kerr, William R. - 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/10012457990
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Financing Constraints and Entrepreneurship
Kerr, William - 2009
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/10012463151
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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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Funding Black High-Growth Startups
Cook, Lisa D.; Marx, Matt; Yimfor, Emmanuel - National Bureau of Economic Research - 2022
We analyze determinants of access to venture capital for Black founders of high-growth startups. We combine image- and name-processing algorithms with clerical review to identify race for over 100,000 startup founders "at risk" for venture funding. Black founders raise roughly one-third as much...
Persistent link: https://www.econbiz.de/10013462730
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Business Partners, Financing, and the Commercialization of Inventions
Åstebro, Thomas - 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/10012461477
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Why Doesn't Technology Flow from Rich to Poor Countries?
Cole, Harold L. - 2015
What determines the technology that a country adopts? While many factors affect technological adoption, the efficiency of the country's financial system may also play a significant role. To address this question, a dynamic contract model is embedded into a general equilibrium setting with...
Persistent link: https://www.econbiz.de/10012457810
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Financial Intermediation in Private Equity : How Well Do Funds of Funds Perform?
Harris, Robert S. - 2017
This paper focuses on funds of funds (FOFs) as a form of financial intermediation in private equity (both buyout and venture capital). After accounting for fees, FOFs provide returns equal to or above public market indices for both buyout and venture capital. While FOFs focusing on buyouts...
Persistent link: https://www.econbiz.de/10012455253
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Monetary Policy and Innovation
Ma, Yueran; Zimmermann, Kaspar - National Bureau of Economic Research - 2023
We document that monetary policy has a substantial impact on innovation activities. After a tightening shock of 100 …-based aggregate innovation index, declines by up to 9 percent in the following 2 to 4 years. Based on previous estimates of the … sensitivity of output to innovation activities, these magnitudes imply that output could be 1 percent lower after another 5 years …
Persistent link: https://www.econbiz.de/10014372455
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What is a Patent Worth? Evidence from the U.S. Patent “Lottery”
Farre-Mensa, Joan - 2017
quality, follow-on innovation. Winning a first patent boosts a startup's subsequent growth and innovation by facilitating …
Persistent link: https://www.econbiz.de/10012455413
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Waiting for Capital : Dynamic Intermediation in Illiquid Markets
Hartman-Glaser, Barney; Mayer, Simon; Milbradt, Konstantin - National Bureau of Economic Research - 2022
We consider a firm with infrequent access to capital markets, continuous access to financing by a risk-averse intermediary, and a cost of holding cash. The intermediary absorbs a fraction of cash-flow risk that decreases with the firm's liquidity reserves and acquires a stake in the firm under...
Persistent link: https://www.econbiz.de/10012814487