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The Organization of the Innovation Industry: Entrepreneurs, Venture Capitalists and Oligopolists

Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2006

Exit of venture-backed firms often takes place through sales to large incumbent firms. We show that in such an environment, venture-backed firms have a stronger incentive to develop basic innovations into commercialized innovations than incumbent firms, due to strategic product market effects....

Persistent link: https://www.econbiz.de/10005791605

The Quality of Entrepreneurs

Hvide, Hans K - C.E.P.R. Discussion Papers - 2005

noticeable influence on entrepreneurial performance. For example, increasing previous employer size from the 25 percent quartile …

Persistent link: https://www.econbiz.de/10005792326

The Catch-22 of External Validity in the Context of Constraints to Firm Growth

Fischer, Greg; Karlan, Dean S. - C.E.P.R. Discussion Papers - 2015

We document the presence of multiple and varied constraints to small and medium firm growth. This presents both a practical problem for business training programs and a challenge to academic economists trying to identify mechanisms though which these programs may affect outcomes. External...

Persistent link: https://www.econbiz.de/10011184078

Trade and Entrepreneurship with Heterogeneous Workers

Oyama, Daisuke; Sato, Yasuhiro; Tabuchi, Takatoshi; … - C.E.P.R. Discussion Papers - 2007

This paper investigates the impacts of progressive trade openness, technological externalities, and heterogeneity of individuals on the formation of entrepreneurship in a two-country occupation choice model. We show that trade opening gives rise to a non-monotonic process of international...

Persistent link: https://www.econbiz.de/10005662268

Bankruptcy Codes and Innovation

Acharya, Viral V; Subramanian, Krishnamurthy - C.E.P.R. Discussion Papers - 2007

Do legal institutions governing financial contracts affect the nature of real investments in the economy? We develop a simple model and provide evidence that the answer to this question is yes. We consider a levered firm's choice of investment between innovative and conservative technologies, on...

Persistent link: https://www.econbiz.de/10005136739

The Knowledge Spillover Theory of Entrepreneurship

Acs, Zoltán J; Audretsch, David B; Braunerhjelm, Pontus; … - C.E.P.R. Discussion Papers - 2005

Contemporary theories of entrepreneurship generally focus on the decision-making context of the individual. The recognition of opportunities and the decision to commercialize them is the focal concern. While the prevalent view in the entrepreneurship literature is that opportunities are...

Persistent link: https://www.econbiz.de/10005067475

Entrepreneurship Capital - Determinants and Impact

Audretsch, David B; Keilbach, Max - C.E.P.R. Discussion Papers - 2005

economic performance. We argue that economic knowledge not only differs from traditional factors of production due to its … over to the start-up firm and therefore entrepreneurship can be expected to have a positive impact on economic performance …, we estimate a two-equation system that regresses on both variables, entrepreneurship and economic performance …

Persistent link: https://www.econbiz.de/10005124120