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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 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

Culture, Entrepreneurship, and Growth

Doepke, Matthias; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2013

We discuss the two-way link between culture and economic growth. We present a model of endogenous technical change where growth is driven by the innovative activity of entrepreneurs. Entrepreneurship is risky and requires investments that affect the steepness of the lifetime consumption profile....

Persistent link: https://www.econbiz.de/10011084260

The Lifecycle of Regions

Audretsch, David B; Falck, Oliver; Feldman, Maryann P; … - C.E.P.R. Discussion Papers - 2008

routinized phase where innovation takes place within top-performing incumbents; (3) a second entrepreneurial phase characterized … routinization, in which no further innovation takes place, but is instead a phase of structural change. Using data on 74 West German …

Persistent link: https://www.econbiz.de/10005124213

The Missing Link: The Knowledge Filter and Entrepreneurship in Endogenous Growth

Acs, Zoltán J; Audretsch, David B; Braunerhjelm, Pontus; … - C.E.P.R. Discussion Papers - 2004

The intellectual breakthrough contributed by the new growth theory was the recognition that investments in knowledge and human capital endogenously generate economic growth through the spillover of knowledge. Endogenous growth theory does not explain how or why spillovers occur. The missing link...

Persistent link: https://www.econbiz.de/10005504210

The Quality of Entrepreneurs

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

What determines the quality of entrepreneurs? To address this question, the paper proposes a simple model of the interaction between individual workers’ decision to become entrepreneurs and established firms’ effort to keep their best workers and ideas. The main prediction from the model is...

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

Bankruptcy Codes and Innovation

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

financial distress. When the code is creditor-friendly, excessive liquidations cause the firm to shy away from innovation. In … contrast, by promoting continuation upon failure, a debtor-friendly code induces greater innovation. This effect remains robust … when the firm attempts to sustain innovation by reducing its debt under creditor-friendly codes. Employing patents as a …

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

entrepreneurship literature is that opportunities are exogenous, the most prevalent theory of innovation in the economics literature …

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

Globalization and the Rise of the Entrepreneurial Economy

Audretsch, David B; Sanders, Mark - C.E.P.R. Discussion Papers - 2007

This paper argues that globalization has led to a shift in developed countries from an industrial to an entrepreneurial model of production. Globalization is interpreted as a level shock in the supply of unskilled labor to the world economy, a decrease in the level of political risk associated...

Persistent link: https://www.econbiz.de/10005124127

Entrepreneurship Capital - Determinants and Impact

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

Since the early 1980s, the role and general perception of entrepreneurship and start-up activities has changed drastically. In this paper, we investigate what determines regions’ entrepreneurial behaviour and the impact of it on regional economic performance. We argue that economic knowledge...

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