Using a large sample of angel and venture capital (VC) financing data from the Crunchbase and VentureXpert databases … causal. Second, we investigate the complementarity versus substitution relationship between angel and VC financing. We find … that a firm that received a larger fraction of VC or angel financing in the first financing round is likely to receive a …

explore this concern by examining the production quantity and cost-reducing R&D investment decisions in a two period model. A … and use an invest-all-or-nothing investment policy. However, under stochastic demand and allied survival constraint, the … optimal investment policy does not necessarily have an all-or-nothing character. We establish conditions for creating hedges …