The developed world is struggling with unsustainable promises and unappealing choices, and sustained economic growth represents one of the few ways out. And over the centuries, growth in advanced economies has been strongly linked to innovation. Despite the vast amounts written about innovation...

The appropriate role of the public sector in stimulating venture capital activity remains highly controversial. Whereas dynamic new venture markets have been catalysed by public interventions in some countries (e.g. Israel and India), there are also many examples worldwide of failed public...

This paper examines the investments and performance of community development venture capital (CDVC). We find substantial differences between CDVC and traditional venture capital (VC) investments: CDVC investments are far more likely to be in nonmetropolitan regions and in regions with little...

We explore the relationship between exclusivity and state-contingent control rights using a sample of over 100 Internet portal alliance contracts. We find that stronger exclusivity arrangements are associated with more frequent usage of contingent control rights. For both portals and their...

Financial innovation has been both praised as the engine of growth of society and castigated for being the source of the weakness of the economy. In this article, we review the literature on financial innovation and highlight the similarities and differences between financial innovation and...

We survey the literature on venture capital and institutions and present a case study comparing the development of the venture capital market in the US to Sweden. Our literature survey underscores that the legal environment, financial market development, the tax system, labor market regulations,...