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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
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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
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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
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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
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Spatial Development
Desmet, Klaus; Rossi-Hansberg, Esteban - C.E.P.R. Discussion Papers - 2009
We present a theory of spatial development. A continuum of locations in a geographic area choose each period how much to innovate (if at all) in manufacturing and services. Locations can trade subject to transport costs and technology diffuses spatially across locations. The result is an...
Persistent link: https://www.econbiz.de/10008566320
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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
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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
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Knowledge Dissemination, Capital Accumulation, Trade and Endogenous Growth
Ben-David, Dan; Loewy, Michael B - C.E.P.R. Discussion Papers - 1996
The theoretical framework presented here preserves many of the primary features of the standard neo-classical model, while introducing some modifications that transform it into an open economy endogenous growth model with knowledge accumulation. Knowledge accumulation is determined in part by...
Persistent link: https://www.econbiz.de/10005136567
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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
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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