This paper empirically examines business starts, deaths, venture capital and patents in relation to U.S. public policy. The most consistent evidence in the data shows that lower levels of labor frictions and higher levels of SBIR awards are associated with more business starts and higher levels...

This paper empirically examines business starts, deaths, venture capital and patents in relation to U.S. public policy. The most consistent evidence in the data shows that lower levels of labor frictions and higher levels of SBIR awards are associated with more business starts and higher levels...

This paper empirically examines business starts, deaths, venture capital and patents in relation to U.S. public policy. The most consistent evidence in the data shows that lower levels of labor frictions and higher levels of SBIR awards are associated with more business starts and higher levels...

We document new facts on the evolution of founder-CEO compensation in venture capital-backed startups. Having a tangible product (“product market fit”) is a fundamental milestone in CEOs' compensation, marking the point where liquid cash compensation increases significantly – well before...

We examine how investor-level tax incentives affect financing for start-ups using the introduction of a generous tax deduction for qualified angel and VC investment in China as a quasi-natural experiment. We find that the tax incentive increases funding for eligible start-ups, with stronger...

In this present paper, we investigate gender-related differences in the survival of ventures financed through equity crowdfunding. Based on a study of 220 enterprises that pursued equity crowdfunding in Germany between January 2011 and November 2017, we find that the presence of females in the...

In this review I could have focused on all of the excellent things in this work. But that would take too long, and the job of a reviewer is not to excessively praise but instead highlight areas of concern with the aim of full and correct dissemination of knowledge on a topic.I show conclusions...

Using a data set of the firms listed on the Neuer Markt in Germany, this paper demonstrates that venture backed firms differ from firms with other financial resources, especially debt. Thus, the results of this study provide evidence for the hypothesis that small and innovative firms are more...

We examine the dynamics of the positive sorting in the venture capital industry. Our findings indicate that switching lead VCs is not uncommon during the course of entrepreneurial firms' development. Companies with upwardly revised perceived quality are more likely to switch to more reputable...

Entrepreneurs who deal with a venture capital firm (VC) for the first time often find themselves unprepared for the experience. The financing terms (deal structure), which specify the percentage of the firm's common stock that goes to the VC often require that the entrepreneur forfeit a large...