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Entrepreneurs face higher commercialization costs than incumbents. We show that this implies that entrepreneurs will choose more risky projects than incumbents, aiming to reduce their high expected marginal commercialization cost. However, entrepreneurs may select too safe projects from a social...
Persistent link: https://www.econbiz.de/10009625140
This paper reviews the literature on the role of public equity markets in the innovation ecosystem. The review highlights the importance of public equity markets in funding the research and development activities of young and high growth firms. It also illustrates the dependence of venture...
Persistent link: https://www.econbiz.de/10011723674
This paper presents the results obtained from a survey among public and private venture capitalists from countries which attract a large amount of venture capital investment: Germany, Switzerland, Austria and Israel. The objective is to investigate venture capitalists’ investment criteria for...
Persistent link: https://www.econbiz.de/10011820298
The working paper examines the role and development of the Central and Eastern European venture capital sector in the five years between 2016 and 2020. This period includes both the end of the recovery after the economic crisis in 2008 and the downturn due to the coronavirus crisis in 2019. A...
Persistent link: https://www.econbiz.de/10014454594
In recent years governments around the world have introduced policies to stimulate investments in early stage entrepreneurial companies, in particular investments by Angel investors. In this paper we study whether introducing subsidies to Angel investors has effects on startups’ access to...
Persistent link: https://www.econbiz.de/10012622932
India has an estimated 26,000 startups, making it the third-largest startup ecosystem in the world, recording consolidated inflows of over $36 billion in the past 3 years with 26 "unicorns" - startups valued over $1 billion. The Indian startup ecosystem has expanded quite rapidly mainly through...
Persistent link: https://www.econbiz.de/10012239563
The creation and scaling of startups are inherently linked to risk-taking, with various types of owners handling these …, introduce ”exit costs” that make high-risk strategies more attractive to VC-backed startups. Moreover, an active VC market … presence of VC intensifies research risk among established firms, as their research initiatives are strategic complements to …
Persistent link: https://www.econbiz.de/10014564131
What comes to mind when thinking about a successful entrepreneur? Belief formation models suggest that what comes to mind is an oversimplified picture of the characteristics of successful entrepreneurs, i.e, stereotypes about successful entrepreneurs. Using French administrative data on 48,767...
Persistent link: https://www.econbiz.de/10014351466
It is well documented venture capital’s positive impact on creation and development of highly successful innovative companies worldwide. Venture capital not only provides funding to startups and SMEs (small and medium enterprises) that usually have financing gap, especially in emerging...
Persistent link: https://www.econbiz.de/10014175556
The process of creating new organizations has increasingly become the focus of entrepreneurship research (Gartner, 1990). However, despite the growing literature on this area, there were few studies exploring the venture creation process. Even fewer studies examine venture creation process...
Persistent link: https://www.econbiz.de/10014184892