It is well documented venture capital’s positive impact on creation and development of highly successful innovative companies worldwide. Venture capital not only provides funding to startups and SMEs (small and medium enterprises) that usually have financing gap, especially in emerging...

This paper constructs a model where entrepreneurial innovations are sold into oligopolistic industries and where adverse selection problems between entrepreneurs, venture capitalists and incumbents are present. We first show that aggressive development of a basic innovation by better informed...

This paper advances a new technique for identifying, delineating, and analyzing microgeographies. It applies this technique to locate and measure agglomerations of high-growth, high-tech (HGHT) startup activity within 205 U.S. cities. Using data from 1995 to 2018 on venture-backed companies, I...

We provide an empirical analysis of the investments' network of investors and startups, using original data from the entrepreneurial finance setting in California. We also propose, and calibrate a two-mode random network formation model. We show that an essential mechanism of the entrepreneurial...

Using unique hand-collected data on startups that were seed-funded by individual angel investors, I show that social connections between angels and entrepreneurs, obtained via schools, past employment and ethnicity, positively influence investment decisions of angels, and the subsequent...

Over the past five years a significant change in the flow of investment trends and motivation has taken place caused by the global financial crisis. Experts get involved in discussions evaluating the venture capital investment trends and influencing factors. Several authors in their publications...

Crowdfunding (CF) in a social entrepreneurship context is praised in narrations for its multifaceted potential - to access much needed financial resources, to gain legitimacy through crowd participation, and to further tap the crowd as a resource for numerous activities of the venture. From an...

This research examines how startup founders' academic knowledge, and knowledge gained through startup founding experience, signal investors and attract investments. We further examine, for both financed and non-financed startups, whether these signals are associated with the startup's...

If control of their firms allows entrepreneurs to derive private benefits, it also allows other controlling parties. Private benefits are especially relevant for venture capitalists, who typically get considerable control in their portfolio firms, but not for banks, which are passive loan...