We analyze the initial intellectual property (IP) right of 4,703 start-up entrants in the US, distinguishing between trademark and patent applications. The results show that start-ups are more likely to file for a trademark instead of a patent when entering into more competitive market...

This study analyzes the effect of the 2008 financial crisis on the venture capital market. We show that the crisis is associated with a decrease in the number of initial funding rounds as well as with a decrease in the amount of funds raised in later funding rounds. The effects of the crisis...

This study analyzes the effects of the 2000-2001 dot-com crisis and the 2008-2009 financial crisis on venture capital syndication. Using propensity score matching analysis, we show that during the two crises, VCFs had a lower tendency to syndicate their investments, and the size of the...

Business Angels (BAs) play a crucial role in the creation and growth of entrepreneurial ventures. Little is known, however, about their funding criteria. This paper contributes to our understanding of BAs' funding decisions, by analyzing how their past investments influence the choices of their...

This study investigates the role of trademarks in the start-up valuations of venture capitalists (VCs). Our results show that the number and breadth of trademark applications have inverted U-shaped relationships with the financial valuations of start-ups by VCs. The findings also indicate that...

The 2009 financial crisis had a severe impact on the venture capital market. This brief article summarizes the empirical evidence as regards the effect of the financial crisis on venture capital financing. Further, the article analyzes, whether now, in the middle of 2011, the venture capital...

How does the social capital of venture capitalists (VCs) affect the funding of start-ups? Extant entrepreneurship literature conceptualizes a substitute effect between the social and financial capital that new firms attain from their investors. On the contrary, by building on the rich social...