In this essay, we examine the reasons why the economic analysis of law has not flourished in European countries as it has in the U.S. In particular, we focus on three European countries - the United Kingdom (U.K.), Germany, and France. We argue that differences in culture, the legal system and...

External finance is central for nascent entrepreneurs, people in the process of starting new ventures. We argue that nascent entrepreneurs use patents and prototypes in order to signal their ability to appropriate the returns from their innovation as well as the project´s feasibility. Our...

External finance is central for nascent entrepreneurs, people in the process of starting new ventures. We argue that nascent entrepreneurs use patents and prototypes in order to signal their ability to appropriate the returns from their innovation as well as the project's feasibility. Our...

We examine the role of spatial proximity for Venture Capital (VC) investments in Germany. The main database is a survey of 85 personal interviews with representatives of different types of financial institutions. The analysis shows that spatial proximity is far less important for VC investments...

External finance is central for nascent entrepreneurs, people in the process of starting new ventures. We argue that nascent entrepreneurs use patents and prototypes in order to signal their ability to appropriate the returns from their innovation as well as the projectś feasibility. Our...

Public concern over global climate change, resource depletion, and environmental degradation has amplified over the last several years, leading to increased demand for environmentally friendly products. Additionally, the price of Clean-Technology products has fallen. This paper examines venture...

Since emerging as a capital destination in the late 1990s, the experience of venture capital (VC) in clean energy technologies (CET) has been checkered. Haphazard investment activity in the early 2000s paired with high-profile failures of once-promising CET ventures to produce a general...

A collection of specialized pre- and post-investment practices help venture capital firms mitigate the tremendous information and agency problems associated with investment in early-stage startups. However, existing research sheds little light on if, and how, these practices change when...

This paper advances a new technique for identifying, delineating, and analyzing microgeographies. It applies this technique to locate and measure agglomerations of high-growth, high-tech (HGHT) startup activity within 205 U.S. cities. Using data from 1995 to 2018 on venture-backed companies, I...

We analyze determinants of access to venture capital for Black founders of high-growth startups. We combine image- and name-processing algorithms with clerical review to identify race for over 100,000 startup founders "at risk" for venture funding. Black founders raise roughly one-third as much...