We examine the determinants of startups' exits using novel technology measures based on patent text. We propose that innovation in rapidly evolving technology areas substitute existing technologies, creating a path to an independent market presence. Startups innovating in rapidly evolving areas...

This paper argues that the two boom and bust episodes of the turn of the century-the internet mania and crash of the 1990s and the easy liquidity boom and bust of the 2000s-are two distinct components of a single structural phenomenon. They are essentially the equivalent of 1929 developed in two...

This short note is a description of the dataset compiled during the drafting of Cash and Dash: How ATMs and Computers Changed Banking (Oxford University Press, 2018). The full dataset is deposited with the European Association for Banking and Financial History, and is available for download from...

Why do some firms grow faster than others? This question has become the focus of a large number of empirical studies in industrial organization, strategic management, and entrepreneurship since the publications of Gibrat (1931) and Penrose (1959). Using an unbalanced panel data set of 85 U.S....

This article postulates that the successful development of the digital economy will be ensured by strengthening the position of corporations, increasing quality of corporate governance, and increasing the interaction and clarity of the structure of financial institutions in accordance with the...