There is great interest in evaluating the impact of private equity investments on innovation and economic growth. However, there is no direct empirical evidence on the effects of such transactions on the innovation strategies of entrepreneurial firms. We fill this gap by examining a rich...

We investigate the impacts of the U.S. publicly-funded Small Business Innovation Research (SBIR) program’s funding on the overall employment growth of SBIR-award recipient firms. This paper is motivated by the U.S. Congress’ continued emphasis of employment growth during its deliberations on...

In this paper we overview a key national program that supports the development of new technology and innovation in small, entrepreneurial firms. The Small Business Innovation Research (SBIR) program was established by the Small Business Innovation Development Act of 1982. We conclude from our...

In the aftermath of the passage of the American Recovery and Reinvestment Act of 2009, the employment effects of public subsidies have been scrutinized because of new emphasis on public accountability and transparency. In this paper we investigate conditions in which public subsidies of research...

In the United States, as in most industrialized nations, aggregate technological advancement declined during the 1970s and early 1980s. The U.S. Congress was quick to respond to this down turn by passing a number of technology- and innovation-related initiatives, one of which was the National...

This paper advances our understanding of university-industry research and development (R&D) collaborations. These strategic relationships are a dimension of entrepreneurial activity, and they are thus important drivers of economic growth and development. Business collaboration with universities...

This paper models the entrepreneurial process as both creation and discovery composed of an iterative two-step process where entrepreneurs create social networks based on subjective expectations about the future effectiveness of those networks, and then choose the innovation to pursue and map a...

There is great interest in evaluating the impact of private equity investments on innovation and economic growth. However, there is no direct empirical evidence on the effects of such transactions on the innovation strategies of entrepreneurial firms. We fill this gap by examining a rich...