The start-up team plays a key role in venture capitalists' evaluations of venture proposals. Our findings go beyond existing research, first by providing a detailed exploration of VCs' team evaluation criteria, and second by investigating the moderator variable of VC experience. Our results...

This paper tests for the importance of cash flow on investment in fixed capital and R&D using firm-level panel data in two countries between 1985 and 1994. For German firms, cash flow is not informative in simple econometric models of fixed investment or R&D. In identical specifications for...

"This report describes the generation of a linked employer-inventor data set, the MPI-IC-IAB-Inventor Data 2002 (MIID 2002), using methods of record linkage. The MIID 2002 combines patent register data comprising inventors residing in Germany and who are listed on patent filings with the DPMA in...

In the presence of asymmetric information, economic agents need to communicate their quality to investors and other parties. This paper investigates how information generated during the patenting process affects the ability of new ventures to attract VC financing. While much of the literature on...

Innovation processes within corporations increasingly tap into international technology sources, yet little is known about the relative contribution of different types of innovation channels. We investigate the effectiveness of different types of international technology sourcing activities...