We study the demand for government participation in China's venture capital and private equity market. We conduct a large-scale, non-deceptive field experiment in collaboration with the leading industry service provider, through which we survey both sides of the market: the capital investors and...

We study the demand for government participation in China’s venture capital and private equity market. We conduct a large-scale, non-deceptive field experiment in collaboration with the leading industry service provider, through which we survey both sides of the market: the capital investors...

Technology transfer from foreign firms has been important to economic growth in developing countries. To spur technology transfer, emerging market policymakers often mandate joint ventures (JVs) between foreign and domestic firms. Through knowledge spillovers, JVs should reduce the cost of...

Over the last century and a half, global technological leadership has shifted from Great Britain to the United States. In this paper we argue that China is positioning itself to assume global leadership in technology within the coming few decades. We identify three sources of competitive...

Although economic globalization has transformed contemporary conceptions of space, location still matters enormously for both individual entrepreneurs seeking to develop a sustainable business and policy makers looking to foster entrepreneurship within a particular city or region. In making the...

Over the last century and a half, global technological leadership has shifted from Great Britain to the United States. In this paper we argue that China is positioning itself to assume global leadership in technology within the coming few decades. We identify three sources of competitive...

When and how do entrepreneurs sell their inventions? To address this issue, we develop an endogenous entry-sale asymmetric information oligopoly model. We show that lowquality inventions are sold directly or used for own entry. Inventors who sell post-entry use entry to credibly reveal...

We develop a theory of commercialization mode (entry or sale) of entrepreneurial inventions into oligopoly, and show that an invention of higher quality is more likely to be sold (or licensed) to an incumbent due to strategic product market effects on the sales price. Moreover, preemptive...