Venture capitalists find, fund, and assist high-impact entrepreneurs - individuals whose firms are instruments of Schumpeter's (1939) “creative destruction” and the “creation of new economic spaces” (Acs, 2008). These entrepreneurs form firms characterized by a lack of substantial...

Women entrepreneurs are known not only to reimburse loans swifter than men, but also to receive smaller loans. However, on average women have smaller-scope business projects and are poorer than men. A deeper investigation is thus required in order to assess the existence of gender discrimination...

One way by which microentrepreneurs can increase their ability to take debt is to take equity alongside, thus respecting prudent ratios and reducing stress. But microequity has not developed in most of the developing world. At the same time, since 1983, microequity has been started in France...

We estimate differences in innovation behavior between foreign versus U.S.-born entrepreneurs in high-tech industries. Our data come from the Annual Survey of Entrepreneurs, a random sample of firms with detailed information on owner characteristics and innovation activities. We find uniformly...

We examine the dynamics of the positive sorting in the venture capital industry. Our findings indicate that switching lead VCs is not uncommon during the course of entrepreneurial firms' development. Companies with upwardly revised perceived quality are more likely to switch to more reputable...

We examine the dynamics of the positive sorting in the venture capital industry. We empirically show that there is considerable re-balancing of the VC-company matches. We further find that higher-quality companies associated with less reputable VCs are more likely to switch to more reputable...

We study how entrepreneurs evaluate the ability of different U.S. venture capitalists (VCs) to add value to start-up companies. Analyzing a large dataset on entrepreneurs' stated preferences on VCs, we show that entrepreneurs view independent partnership VCs more favorably than other VC types...

Despite the evidence on the positive effect of venture capital (VC) on portfolio firm performance, such evidence badly pulls up alongside the non-negligible number of entrepreneurial firms that chooses to refuse VC. This is the first study that investigates the determinants behind the missed...

I analyze prior entrepreneurship as a determinant of financial contracting with venture capitalists and find more company-favorable contracts in startups founded by serial entrepreneurs. Repeat founders and other insiders retain greater board control and also suffer less equity dilution in their...

The aim of this paper is to better understand how entrepreneurial equity finance interacts with the complex growth process of young technological ventures. More specially, we investigate how different growth paths are influenced by the entrepreneurs' interactions with different categories of...