This paper examines an ex-post rationale for the patenting of scientific discoveries. In this model, scientists do not know which firms can make use of their discoveries, and firms do not know which scientific discoveries might be useful to them. To bridge this gap, either or both sides need to...

It is well known that start-ups with female founders often raise less money than their male counterparts; the question is, what drives this? We exploit the unique features of equity crowdfunding to disentangle the choices made by entrepreneurs and investors. We find that female teams set lower...

This paper investigates the relative performance of enterprises backed by government-sponsored venture capitalists and private venture capitalists. While previous studies focus mainly on investor returns, this paper focuses on a broader set of public policy objectives, including value-creation,...

This paper examines an ex-post rationale for the patenting of scientific discoveries. In this model,scientist do not know which firms can make use of their discoveries, and firms do not know whichscientific discoveries might be useful to them. To bridge this gap, either or both sides need to...

The importance of an investor's organizational structure is increasingly recognized in modern finance. This paper examines the role of banks in the US venture capital market. Theory suggests that unlike independent venture capital firms, banks can seek complementarities between their venture...

Venture capital is widely believed to be an influential arrangement for the financing of new innovative companies. We examine and find empirical evidence that venture capital financing is related to product market strategies and outcomes of startups. We use a unique hand-collected database of...

SUBJECT AREAS: venture capital, corporate venturing, strategic investment, conflict of interestCASE SETTING: Apple Computers, 1984-1989, computer industry.This case looks at how a corporation may engage in venture capital. It discusses the particular approach that Apple Computers took when...

SUBJECT AREAS: venture capital, strategic partnerships, global venture capitalCASE SETTING: WI Harper International, 1997, Silicon Valley, Taiwan, ChinaREQUESTS FOR COPIES: To receive a copy of this case, please contact Harvard Business School Publishing, 60 Harvard Way, Boston, MA 02163. Phone:...