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Our model reconciles seemingly contradictory empirical evidence on venture capital activity. Despite the venture capital-backed companies' superior long-run performance, stock markets react more negatively to their acquisitions than to other private acquisitions. Moreover, venture capital...
Persistent link: https://www.econbiz.de/10013141931
We propose that the effect of market concentration on firm survival is different according to whether an industry is static (low entry and exit) or dynamic. In our empirical analysis we find support for this hypothesis. Industry concentration rates reduce the survival of new plants but only in...
Persistent link: https://www.econbiz.de/10010271957
The paper uses a unique dataset comprising a population of new ventures that enter the UK market in 1998. The data comprises services as well as manufacturing industries. The central hypothesis is that new ventures are differently affected by industry competition and growth in dynamic compared...
Persistent link: https://www.econbiz.de/10010273122
The paper uses a unique dataset comprising the population of new ventures that enter the UK market in 1998. We argue that we would expect the effect of market concentration on firm survival to be different according to whether an industry is static (low entry and exit) or dynamic. In our...
Persistent link: https://www.econbiz.de/10011280372
The creation of value through innovation is among the defining traits of new technology-driven ventures. In this paper …. On average, for every Euro of EIF-supported VC financing, start-ups generated 2.74 Euro of private innovation value. …
Persistent link: https://www.econbiz.de/10011859809
information on revenues, product and process innovation. I then regress these measures of business performance on top team … between diversity and business performance, which is net positive for process innovation and net negative for turnover …
Persistent link: https://www.econbiz.de/10011685070
The digital industries cluster known as Silicon Roundabout has been quietly growing in East London since the 1990s. Rebranded Tech City, it is the focus of huge public and government attention. National and local policy makers wish to accelerate the local area's development: such cluster...
Persistent link: https://www.econbiz.de/10012941213
We analyze the effect of patent thickets on entry into technology areas by firms in the UK. We present a model that describes incentives to enter technology areas characterized by varying technological opportunity, complexity of technology, and the potential for hold‐up in patent thickets. We...
Persistent link: https://www.econbiz.de/10011447108
This paper synthesizes five determinants of innovation and productivity of a nation. They are namely: (1) human … aspects. Though this paper separately identifies the determinants of innovation and productivity, using them for creating … innovation and productivity into a process is complex and dynamic. Hence, for instance, this paper suggest primarily investigate …
Persistent link: https://www.econbiz.de/10013005834
Biotechnology is widely viewed as a field of economic activity that exemplifies a new (science-based, knowledge-intensive, post-industrial, networked, localized) way to organize production. For that reason it has been a frequent subject of research in organizational studies, industrial...
Persistent link: https://www.econbiz.de/10013073464