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Governance in entrepreneurial ecosystems : venture capitalists vs. technology parks
Cumming, Douglas J.; Werth, Jochen; Zhang, Yelin - 2016
We argue two alternative routes that lead entrepreneurial start-ups to acquisition outcomes instead of liquidation. On one hand, acquisitions can come about through the control route with external financers such as venture capitalists (VCs). VCs take control through their board seats along with...
Persistent link: https://www.econbiz.de/10011473538
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Governance in Entrepreneurial Ecosystems : Venture Capitalists vs. Technology Parks
Cumming, Douglas J. - 2017
We argue two alternative routes that lead entrepreneurial start-ups to acquisition outcomes instead of liquidation. On one hand, acquisitions can come about through the control route with external financers such as venture capitalists (VCs). VCs take control through their board seats along with...
Persistent link: https://www.econbiz.de/10012949957
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Public-to-Private Buyouts and Innovation
Cumming, Douglas J. - 2020
We study the effect of public-to-private buyout transactions on investments in innovation using an international sample … of innovation. Our results are based on time analysis and matched sample regressions. The data indicate that buyouts are …-term investments. This finding is confirmed by reductions in innovator employment and innovation efficiency subsequent to going private …
Persistent link: https://www.econbiz.de/10012850731
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The Economic Impact of Entrepreneurship : Comparing International Datasets
Cumming, Douglas J. - 2014
Persistent link: https://www.econbiz.de/10013063957
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The Economic Impact of Entrepreneurship : Comparing International Datasets
Cumming, Douglas J. - 2014
Persistent link: https://www.econbiz.de/10013061543
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Technology Parks and Entrepreneurial Outcomes around the World
Cumming, Douglas J. - 2013
parks with on- and off-site technology licensing offices, that promote trade shows, provide access to funds for …
Persistent link: https://www.econbiz.de/10013086385
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Government Venture Capital Research : Fake Science and Bad Public Policy
Cumming, Douglas J. - 2018
measures that give rise to country rankings where the best venture capital markets in the world are countries like Austria and … Hungry, and the worst venture capital market in the world is the U.K. The second and more recent failure involves the use of … example, a bizarre and clearly false inference that a market with more than 89% investment by government funds exhibits no …
Persistent link: https://www.econbiz.de/10012906813
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Investment Syndication Networks and International Differences in Legal Enforcement and Culture
Cumming, Douglas J. - 2020
Being part of an investment syndicate offers various network benefits, but also exposes risks that someone in the …
Persistent link: https://www.econbiz.de/10012840039
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Angel Investors Around the World
Cumming, Douglas J. - 2018
We document that the choice between disintermediated individual angel investments and intermediated private equity and venture capital investments depends on legal, economic, and cultural differences. We find evidence of this using PitchBook's comprehensive data on more than 5,000 angel and...
Persistent link: https://www.econbiz.de/10012913436
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Angel Investors Around the World
Cumming, Douglas J. - 2016
Angel investors finance small high growth entrepreneurial firms in exchange for equity. Unlike private equity (PE) and venture capital (VC) funds, which invest capital from institutional investors, angels invest with their own money. We compare the impact from legal and cultural conditions on...
Persistent link: https://www.econbiz.de/10013001357