What is the role of startups within the innovation ecosystem? Since 2000, startups have grown in their share of commercializing research from top U.S. universities; however, prior work has little to say on the particular advantages of startup ventures in the innovation process relative to more...

This study investigates the impact of early relationships on innovation at entrepreneurial firms. Prior research has largely focused on the benefits of network ties, documenting the many advantages that accrue to firms embedded in a rich network of inter-organizational relationships. In...

This paper examines the association between the outcome of business incubation and the resources used by incubators, by using a small panel of science and technology business incubators (STBIs) in China. We find that while the number of firms graduating from an STBI is closely correlated with...

In this paper we examine to what extent market conditions facilitating start-up formation affect technical change and firms' profits. We consider a model in which R&D efforts of an incumbent firm generate partly tacit technological know-how embodied in a key R&D employee, who might use it to...

This essay explores potential research opportunities at the intersection of institutions, innovation, and impact. We engage with, and probe into, what we have dubbed the ‘cultural future’ by examining several examples described in the 2017 “Future Issue” of the Fortune magazine. Our...

Investments in Ramp;D can influence a firm's ability to develop new products and to create and adopt innovative technologies that may enhance productivity. However, due to uncertainty regarding the outcome, investments in Ramp;D may lead to an agency problem between the owners and the managers...

Analyzing a cross-country panel of 16 OECD countries from 2002 to 2005, we find that higher unemployment benefits crowd out nascent entrepreneurial activity. Our results hold regardless of entrepreneurial motivation (necessity or opportunity) and entrepreneurial type (imitative or innovative)

Managers and management scholars have traditionally embraced the premise that sustainable competitive advantage must be developed by firms to achieve and perpetuate competitive superiority. The validity of the notion that competitive advantages are sustainable began to be questioned toward the...

We extend theories of the firm to the entrepreneurial finance setting and argue that R&D-focused start-up firms will have a greater likelihood of financing themselves with equity rather than debt. We argue that mechanisms that reduce information asymmetry, including owner work experience and...