In recent years, the knowledge management approach of the firm has emerged as the central theoretical perspective intended to address the question of adaptation to technological change. As for theoretical and practical implications, we proposed a comprehensive model that provides an integrative...

The paper proposes a simple equilibrium model of venture capital, entrepreneurship and innovation. Venture capitalists not only finance but also advise start-up entrepreneurs and thereby add value to new firms. The paper demonstrates how a productive and active VC industry boosts innovation...