We demonstrate how endogenous information acquisition in venture capital markets creates investment cycles when … screening externalities induced by competition among venture capitalists as a structural source of instability. We show that … uncoordinated screening behavior of competing financiers is an independent source of fluctuations inducing venture investment cycles …

We demonstrate how endogenous information acquisition in venture capital markets creates investment cycles when … screening externalities induced by competition among venture capitalists as a structural source of instability. We show that … uncoordinated screening behavior of competing financiers is an independent source of fluctuations inducing venture investment cycles …

Macroeconomic and sector-specific shocks exert differential effects on investment in disaggregate sectoral data. The … monotonically. A calibrated model of investment with convex capital adjustment costs and rational inattention explains these … features of the data. The model matches the empirical responses of sectoral investment because learning about shocks generates …

Macroeconomic and sector-specific shocks exert differential effects on investment in disaggregate sectoral data. The … monotonically. A calibrated model of investment with convex capital adjustment costs and rational inattention explains these … features of the data. The model matches the empirical responses of sectoral investment because learning about shocks generates …

. In the absence of product market competition, new ventures financed by active investors grow faster initially, though in …" early on, resulting in long-run differences in investment, profits, and firm growth. The value of active investors is …