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We study venture capital finance with experimentation. An entrepreneur contracts with an investor and has private information about a project, which requires costly experimentation by both parties to succeed. In equilibrium, investors learn about the project from the arrival of exogenous...
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We study how technological shocks to the cost of starting new businesses have led the venture capital model to adapt in fundamental ways over the prior decade. We both document and provide a framework to understand the changes in the investment strategy of venture capitalists (VCs) in recent...
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We study how technological shocks to the cost of starting new businesses have led the venture capital model to adapt in fundamental ways over the prior decade. We both document and provide a framework to understand the changes in the investment strategy of venture capitalists (VCs) in recent...
Persistent link: https://www.econbiz.de/10012453193
The entrepreneurial financing process is essentially a two-sided matching process between investors and startups. This paper implements two symmetric incentivized resume rating (IRR) experiments with real US venture capitalists and US startup founders to elicit their preferences for potential...
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