This paper shows the advantages of staged investments for venture capitalists.

Does entrepreneurial optimism affect business performance? Using a unique data setbased on repeated survey design, we investigate this relationship empirically. Ourmeasures of ‘optimism’ and ‘realism’ are derived from comparing the turnovergrowth expectations of 133 owners-managers with...

Entrepreneurship education ranks highly on policy agendas in Europe and the US, butlittle research is available to assess its impacts. In this context it is of primary importanceto understand whether entrepreneurship education raises intentions to be entrepreneurialgenerally or whether it helps...

Using data from the German Socio-Economic Panel Study (GSOEP), we analyze whethernecessity entrepreneurs differ from opportunity entrepreneurs in terms of self-employmentduration. Using univariate statistics, we find that opportunity entrepreneurs remain in selfemploymentlonger than necessity...

We analyze the implications of entrepreneurial spawning for a variety of firm characteristicssuch as size, focus, profitability, and innovativeness. We examine the dynamics of spawning overtime. Our model accounts for much of the empirical evidence relating to the relation betweenspawning and...

This paper proposes that risk aversion encourages individuals to invest in balanced skillprofiles, making them more likely to become entrepreneurs. By not having taken this possiblelinkage into account, previous research has underestimated the impacts both of risk aversionand balanced skills on...

Drivers of entrepreneurial entry are investigated in this study by examining how entry intosmall-business ownership is shaped by industry-specific constraints. The human- andfinancial-capital endowments of potential entrepreneurs entering firms in various industriesare shown to differ...

Die Gründungsförderung der Bundesagentur für Arbeit ist im Rahmen der aktivenArbeitsmarktpolitik im Rechtskreis SGB III nach wie vor eines der bedeutsamstenInstrumente. Zum 1. August 2006 löste der Gründungszuschuss (§ 57 SGB III) seine beidenVorgänger, das Überbrückungsgeld und den...

The paper analyzes patterns in spatial proximity between venture capital investors and investees. We use a dataset of 1256 dyads of venture capitalists and German new ventures which have closed a financing round between January 2002 and March 2007. Our results indicate that different factors...

In the course of raising external equity, e.g. from venture capitalists, a quantitative valuation is usually required for entrepreneurial ventures. This paper examines the challenges of quantitatively valuing platform technology based entrepreneurial ventures. The distinct characteristics of...