We examine whether and how investors' reliance on financial information is affected by the rate of sales growth of a start-up venture. We find that investors discern between firms by the extent to which their products are adopted by the market. For firms that failed to increase their sales since...

Smart specialization is studied in the Arab–Jewish region of Haifa and Nazareth, with a focus on high-tech ventures created by Arab entrepreneurs. We find that not only did smart specialization occur under these complex conditions, but also it was spontaneous. It began with the sharing of...