This paper argues that a large component of success in entrepreneurship and venture capital can be attributed to skill …. We show that entrepreneurs with a track record of success are more likely to succeed than first time entrepreneurs and … for entrepreneurs without a successful track record. Similarly, more experienced venture capitalists are able to identify …

This paper argues that a large component of success in entrepreneurship and venture capital can be attributed to skill …. We show that entrepreneurs with a track record of success are more likely to succeed than first time entrepreneurs and … for entrepreneurs without a successful track record. Similarly, more experienced venture capitalists are able to identify …

property - medium probability - medium return and risk) -- 3. Invented money (entrepreneurship - highest risk - highest return …

strategies and therefore affect the deal terms with entrepreneurs. In this paper, we show that two contracts are possible in a … systematically abandoned, high-quality ventures may also be liquidated. Entrepreneurs need to consider these effects when aiming to … maximize their benefits and must trade off the contract parameters accordingly. Our model provides guidance to entrepreneurs in …