Using a random sample of 221 new Swedish ventures initiated in 1998, we examine why some new ventures are more likely than others to successfully be awarded capital from external sources. We examine venture financing as a staged selection process in which two sequential selection events...

This paper utilizes an understudied but often utilized aspect of initial public offerings (IPOs), secondary shares, to examine whether the knowledge conditions of firms give rise to agency problems that limit the ability of founders and venture capitalists to sell equity at IPO. In an analysis...

This article is a review of work published in Management Science on the topics of technological innovation, product development, and entrepreneurship since the inception of the journal in 1954. We intend the article to serve two goals. First, we hope that it will be useful to doctoral students...

Much of the current thinking about competitive strategy focuses on ways that firms can create imperfectly competitive product markets in order to obtain greater than normal economic performance. However, the economic performance of firms does not depend simply on whether or not its strategies...

This paper develops a model of information-acquisition decisions by firms that are competing in a "strategic factor market" (Barney 1986) to purchase a scarce resource whose value is unknown and differs across firms. The model builds on the argument that more accurate expectations about the...

In their paper, Dierickx and Cool suggest that the strategic factor markets model developed in Barney (Barney, J. B. 1986a. Strategic factor markets: Expectations, luck, and business strategy. Management Sci. (October) 1231--1241.) cannot be applied in the analysis of sustained competitive...