Die Bewertung innovativer Wachstumsunternehmen erfährt vor dem Hintergrund der aktuellen Kapitalmarktsituation und der stockenden Exit-Optionen für den externen Investor eine exponierte Bedeutung. Der Betrachtungsschwerpunkt der vorliegenden Arbeit liegt auf dem Zusammenhang zwischen...

This paper takes a different perspective toward the escape entry incentive of incumbent firms to innovate. New entrants spawned from incumbents are not necessarily a threat; they can complement incumbents' production by commercializing knowledge incumbents are not willing or able to exploit....

Necessity spin-offs are organized by employees of incumbent firms to escape deteriorating job conditions. This paper proposes a conceptual model of the spin-off process. Necessity spin-offs are distinguished from opportunity spin-offs on the basis of their triggering events. An empirical...

Academic entrepreneurship has become an increasingly important channel through which universities contribute to economic development. This paper studies academic entrepreneurs using a comprehensive venture capital database. I find that about two-thirds of the academic entrepreneurs locate their...

For academic spin-offs I analyze the length of time between the founder's leaving of academia and the establishment of his firm. Technology transfer can take place even years after leaving the mother institution. A duration analysis reveals that a longer time-lag is caused by the necessity of...

Does heterogeneity in the educational backgrounds of the founders matter for firm success? Are team foundations more successful than single entrepreneurs? These questions are analysed using data on academic spinoffs in Germany. Firm success is measured by employment growth. I find that team...

Die wachsende Bedeutung von Wissen und die daraus resultierende Notwendigkeit, neue, insbesondere auch wissenschaftliche Erkenntnisse möglichst schnell in wirtschaftliche Aktivitäten umzusetzen, lenkt die Aufmerksamkeit von Wissenschaft und Politik verstärkt auf so genannte akademische...

The growing importance of knowledge and the ensuing need to translate research results, and especially new scientific findings as quickly as possible into economic activities are drawing the attention of academia and politicans increasingly towards what is referred to as academic spin-off...