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We find that VC-backed firms receiving their initial investment in hot markets are more likely to go bankrupt, but conditional on going public are valued higher on the day of their IPO, have more patents and have more citations to their patents. Our results suggest that VCs invest in riskier and...
Persistent link: https://www.econbiz.de/10009353420
innovation. in the sense that research can be directed to either clean or dirty technologies. If dirty technologies are more … technologies. Carbon taxes and research subsidies may nonetheless encourage production and innovation in clean technologies, though …
Persistent link: https://www.econbiz.de/10011095220
a sharp guillotine help explain when and where radical innovation occurs. …
Persistent link: https://www.econbiz.de/10010618065