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Transferable Skills? Founders as Venture Capitalists

Gompers, Paul A.; Mukharlyamov, Vladimir - National Bureau of Economic Research - 2022

In this paper we explore whether or not the experience as a founder of a venture capital-backed startup influences the performance of founders who become venture capitalists (VCs). We find that nearly 7% of VCs were previously founders of a venture-backed startup. Having a successful exit and...

Persistent link: https://www.econbiz.de/10013191001

Do Entrepreneurs Want Control? And Should They Get What They Want? A Historical and Theoretical Exploration

Lamoreaux, Naomi R.; Rosenthal, Jean-Laurent - National Bureau of Economic Research - 2023

From Elihu Thomson and Herbert Dow in the late nineteenth century to Steve Jobs a hundred years later, many entrepreneurs have been stymied by their investors. In this paper, we use a simple model to explore how outcomes might have been different if entrepreneurs, instead of the investors, had...

Persistent link: https://www.econbiz.de/10014250124

Reluctant Entrepreneurs : Evidence from China's SOE Reform

Fang, Hanming; Li, Ming; Wu, Zenan; Zhang, Yapei - National Bureau of Economic Research - 2023

We study the impact of state-owned enterprises (SOEs) on the quality of entrepreneurship in China. Using long series of … high-skilled SOE employees were reluctantly unleashed into entrepreneurship. We also provide corroborating evidence for …

Persistent link: https://www.econbiz.de/10014372457

The 2021 Paycheck Protection Program Reboot : Loan Disbursement to Employer and Nonemployer Businesses in Minority Communities

Fairlie, Robert W.; Fossen, Frank M. - National Bureau of Economic Research - 2022

Was the $278 billion reboot of the $800 billion Paycheck Protection Program (PPP) in early 2021 disbursed equitably to minority communities? This paper provides the first analysis of how PPP funds were disbursed to minority communities in the third and final round of the program, which was...

Persistent link: https://www.econbiz.de/10012938701

Support for Paid Family Leave among Small Employers Increases during the COVID-19 Pandemic

Bartel, Ann; Rossin-Slater, Maya; Ruhm, Christopher J.; … - National Bureau of Economic Research - 2021

The United States is one of the few countries that does not guarantee paid family leave (PFL) to workers. Proposals for PFL legislation are often met with opposition from employer organizations, who fear disruptions to business, especially among small employers. But there has been limited data...

Persistent link: https://www.econbiz.de/10012696395

Aspirations and Financial Decisions : Experimental Evidence from the Philippines

McKenzie, David J.; Mohpal, Aakash; Yang, Dean - National Bureau of Economic Research - 2021

A randomized experiment among poor entrepreneurs tested the impact of exogenously inducing higher financial aspirations. In theory, raising aspirations could have positive effects by inducing higher effort, but could also reduce effort if unmet aspirations lead to frustration. Treatment resulted...

Persistent link: https://www.econbiz.de/10012496161

Public Entrepreneurial Finance around the Globe

Bai, Jessica; Bernstein, Shai; Dev, Abhishek; Lerner, Joshua - National Bureau of Economic Research - 2021

This paper examines how government funding programs geared towards early-stage companies interact with private capital markets. Using hand-collected data on 755 government programs worldwide, we find that governments' allocations to such funding programs have been comparable to global venture...

Persistent link: https://www.econbiz.de/10012510623

Innovation-Driven Entrepreneurship

Botelho, Tristan L.; Fehder, Daniel; Hochberg, Yael V. - National Bureau of Economic Research - 2021

Entrepreneurship is thought to be a key driver of economic growth. While there are myriad forms of entrepreneurship … research provides evidence that the relationship between entrepreneurship and economic growth is driven not by overall quantity …-driven. This paper provides a survey of the growing literature on the economics of such innovation-driven entrepreneurship. We …

Persistent link: https://www.econbiz.de/10012599280

A Theory of Visionary Disruption

Gans, Joshua - National Bureau of Economic Research - 2022

Exploitation of disruptive technologies often requires resource deployment that creates conflict if there are divergent beliefs regarding the efficacy of a new technology. This arises when a visionary agent has more optimistic beliefs about a technological opportunity. Exploration in the form of...

Persistent link: https://www.econbiz.de/10013210119

Optimal Taxation of Risky Entrepreneurial Capital

Boar, Corina; Knowles, Matthew P. - National Bureau of Economic Research - 2022

taxes prevent excessive entry into entrepreneurship. Optimal wealth taxes are positive but close to zero, since they …

Persistent link: https://www.econbiz.de/10013191056