We examine how IPOs and acquisitions affect entrepreneurial innovation as measured by patent counts and forward patent citations. We construct a firm-year panel dataset of all venture capital-backed biotechnology firms founded between 198'22'008 tracked yearly through 2006. We address the...

This paper empirically examines the determinants of heterogeneous cooperative R&D commercialization strategies of innovating biotechnology start-ups. While the volume of inter-firm collaboration, spanning modes such as strategic alliances and technology licensing, has increased dramatically in...

Research summary. The network resources a firm can access through its strategic alliances are critical precursors to innovation: they provide the information and know-how needed to generate new knowledge. Yet prior literature has not directly considered the congestion of network resources...