Managers of private entrepreneurial firms face obstacles in raising capital both in placing a value on a firm and conveying value to investors. These problems are exacerbated when the firm is small, has limited assets (except for human capital) and has yet to have a lead product. In such cases...

Managers of private entrepreneurial firms face obstacles in raising capital both in placing a value on a firm and conveying value to investors. These problems are exacerbated when the firm is small, has limited assets (except for human capital) and has yet to have a lead product. In such cases...

This paper addresses the role that scientific status plays in initial public offerings of technology focused firms. The paper builds on the literature of the sociology of science as well as the work of Spence (1974) and Podolny (1993) and argues that the presence of a Nobel laureate affiliated...