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Measuring the spillovers of venture capital
Schnitzer, Monika; Watzinger, Martin - 2017
We provide the first measurement of knowledge spillovers from venture capital-financed companies onto the patenting activities of other companies. On average, these spillovers are nine times larger than those generated by the R&D investment of established companies. Spillover effects are larger...
Persistent link: https://www.econbiz.de/10011762520
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How antitrust enforcement can spur innovation : Bell Labs and the 1956 consent
Watzinger, Martin; Fackler, Thomas; Nagler, Markus; … - 2017
harmful for innovation and if so, whether compulsory licensing can provide an effective remedy. The consent decree settled an …-on innovation building on Bell patents by 17%. This effect is driven mainly by young and small companies. Yet, innovation increased … only outside the telecommunications equipment industry. The lack of a positive innovation effect in the telecommunications …
Persistent link: https://www.econbiz.de/10011591035
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The capital gains tax : a curse but also a blessing for venture capital investment
Bock, Carolin; Watzinger, Martin - 2017
Our study analyzes the effect of the capital gains tax on the individual investment decisions of venture capitalists. By doing so, we are able to study the decisions for a sample of 76,852 funding rounds in 32 countries from 2000 to 2012. Our results support the predictions of the theoretical...
Persistent link: https://www.econbiz.de/10011697451
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The breakup of the Bell System and its impact on US innovation
Watzinger, Martin; Schnitzer, Monika - 2022
We analyze the effects of the 1984 breakup of the Bell System on the rate, diversity, and direction of US innovation … diversity of telecommunications innovation increased. Total patenting by US inventors related to telecommunications increased by …
Persistent link: https://www.econbiz.de/10014458851