Robert Mier (1942-1995) influenced planning and economic development during his career as professor Chicago economic development official, and consultant. He developed a vision and practice based on social justice and equity. In economic development, he emphasized job creation, the role of...

This article explores how the overall policy system affects the operation of economic development programs by presenting a case study of the City of Chicago's Industrial Development Bond (IDB) program between 1977-1987. By comparing Chicago IDB recipients with a representative group of Chicago...

This paper examines three rationales for the syndication of venture capital investments, using a sample of 271 private biotechnology firms. Syndication is commonplace, even in the first-round investments. Experienced venture capitalists primarily syndicate first-round investments to venture...

This paper presents a theory of liquidity where we explicitly model the liquidity of the security as a choice variable, which enables the manager raising the funds to screen for "deep pocket" investors, i.e. these that have a low likelihood of a liquidity shock. By choosing the degree of...

This article examines the impact of patent scope on firm value. I develop a proxy for patent scope based on the International Patent Classification scheme. Using a sample of 535 financing rounds at 173 privately held venture-backed biotechnology firms. I show that the breadth of patent...