We analyze a private firm's likelihood of exiting through a merger or acquisition. To test our hypotheses we use the confidential version of the Kauffman Firm Survey data, the largest longitudinal dataset of newly formed businesses in the United States. Our results show that firms with R&D...

We test whether born-to-be-green represents a signal toward potential venture capital (VC) investors on a sample of Italian, independent, unlisted, high-tech entrepreneurial firms. We employ several identification strategies by controlling for the major potential signals, and the alleged...

I study the relationship between debt maturity and agency conflicts between controlling and minority shareholders in unlisted firms. Exploiting cross-provinces variance in the development of local credit markets, I find a negative joint effect of ownership concentration and short-term bank debt...

We examine the role of experimentation, planning, and structure in the evaluation of early-stage ventures. We hypothesize that the choice of coherent combinations – experimentation and informal structure or planning and formal structure – is associated with positive evaluations. First, using...

Business ownership and self‐employment constitute a vital part of the economy. Entrepreneurs can provide employment for themselves and others. While many of the determinants of entrepreneurship have been intensively studied, the link between language ability and entrepreneurship has not. Using...

Firms launch formal programs to identify promising employee ideas and to provide support for their commercialization. This paper examines an alternative role of the firm's internal screening process in employee turnover. I argue that because the firm has better information vis-à-vis the market...

German Abstract: Fehlendes Kapital für Hightech-Wachstumsunternehmen ist eine der zentralen Schwächen des deutschen Innovationssystems. Gerade im Zuge der digitalen Transformation, in der radikale technologische Innovationen und neue Geschäftsmodelle sowie schnelles Wachstum gefragt sind,...

Insufficient access to capital for high-tech growth companies is one of the key weaknesses of Germany's innovation system. This weakness is becoming a serious competitive disadvantage, especially in the context of the radical technological innovation, new business models and rapid growth...

Spanish Abstract: En el presente trabajo se propone hacer un recorrido comparativo entre los enfoques micro y macro-analítico de la Economía Institucional, a partir de la aplicación que se hace de los costos de transacción en los estudios de creación de empresa. Para esto se recurrirá a...

Spanish Abstract: El propósito de este trabajo es invitar a reflexionar sobre la pertinencia metodológica de asumir el enfoque teórico de las instituciones informales, desde la perspectiva de D. North, como recurso teórico que permite profundizar en el estudio de la actividad emprendedora....