Policy makers typically interpret positive relations between venture capital investments and innovations as an evidence that venture capital investments stimulate innovation (quot;VC-first hypothesisquot;). This interpretation is, however, one-sided because there may be a reverse causality that...

Much of the value of an Internet-of-Things (“IoT”) startup resides in its intellectual property. Many IoT startups use China, mainly Shenzhen, to develop, manufacture, and ship their product. Though this strategy provides many benefits, it also presents substantial challenges. IoT...

Generating decent employment is key to the creation of a new social contract and social cohesion in Sub-Saharan Africa. The crucial question is, thus, how can more decent jobs be created? Much of the extant research has focused on the role of states and businesses in shaping employment...

We study the relative effect of venture capital and bank finance on large manufacturing firms in local U.S. markets. Theory predicts that with venture capital, the firm size distribution should become more stretched-out to the right, but it’s ambiguous on the effect of banks on large firms....