COVID-19 brought about a shift in entrepreneurial opportunities and in the United States. In this paper, we proxy entrepreneurial processes by examining housing prices in different regions of the United States. Housing prices capture the movement in people, tax dynamics, and behavioral...

We propose three governance mechanisms pertinent to equity crowdfunding and campaign success through mitigating pronounced information asymmetries and agency problems. First, unlike IPOs for which the effect of Delaware incorporation has declined or disappeared over time, we propose Delaware...

Private independent limited partnership venture capital funds receive capital from institutional investors, without tax incentives. Limited partnership investment activities are governed by restrictive covenants that are determined by negotiated contract between the fund managers (general...

In 2005, the Government of Ontario announced the phase out of the Labour Sponsored Venture Capital Corporation (LSVCC) tax credit, which will be become effective in 2011. Some media attention has suggested this might lead to difficulty for Ontario entrepreneurs and emerging companies in raising...

This paper presents evidence about the shortfall of venture capital in Canada relative to comparable regions in the United States, despite massive government spending on governmental venture capital programs in Canada. The Government of Canada committed $500 million towards venture capital in...

We document a notable change in the pattern of fintech VC investments around the world relative to other types of investments after the global financial crisis. We argue that the spike in fintech VC in certain countries is attributable to differential enforcement of financial institution rules...

We review statistical methods used to estimate the impact of crowding out of private venture capital by government venture capital. We review three types of failures that have plagued the venture capital literature and resulted in policy implications that are precisely the opposite of what the...

Traditional intermediaries have the ability and the incentive to intertemporarily smooth outcomes. Fintechs, such as peer-to-peer (P2P) lending platforms and equity crowdfunding (ECF) platforms, enable riskier projects without regard to intertemporal smoothing. U.S. data from May 2016 to June...

Recent work by Da Rin et al. (2006, 2011) and Lerner (2009) base their analysis of the effect of public policy towards venture capital on variables like the ratio of early stage to late stage investment. This paper provides an explanation as to why such measures are incorrect for studying the...

In this chapter, we present worldwide VC investment, exit and initial public offering (IPO) data up to 2010. Also, we focus on investment activity at the local level with reference to data from Canada and the U.S. We provide statistics which highlight how differences in investment and IPO exit...