This paper investigates how patent applications and grants held by new ventures improve their ability to attract venture capital (VC) financing. We argue that investors are faced with considerable uncertainty and therefore rely on patents as signals when trying to assess the prospects of...

This study examines the consequences of loan denials for the investment performance of small and medium-sized German enterprises. As a consequence of a loan denial, innovative companies experience a smaller drop in the share of actual to planned investment than non-innovative companies. The...

This paper analyses whether strategic motives for patenting influence the characteristics of companies' patent portfolios. We use the number of citations and oppositions to represent these characteristics. The investigation is based on survey and patent data from German companies. We find clear...

This paper investigates how patent applications and grants held by new ventures improve their ability to attract venture capital (VC) financing. We argue that investors are faced with considerable uncer-tainty and therefore rely on patents as signals when trying to assess the prospects of...

This paper identifies the owner's exposure to idiosyncratic risk as an important determinant of the demand for loans and the capital structure of private companies. The analysis is based on a sample of small and medium-sized companies from the United States. The exposure to idiosyncratic risk is...

Innovation processes within corporations increasingly tap into international technology sources, yet little is known about the relative contribution of different types of innovation channels. We investigate the effectiveness of different types of international technology sourcing activities...

Owners of private companies often invest a substantial share of their net worth in one company, which exposes them to idiosyncratic risk. We investigate whether owners of US companies require compensation for lack of diversification in the form of higher returns on equity. Exposure to...

This paper analyzes how companies of immigrant entrepreneurs in knowledgeintensive industries differ from companies of native entrepreneurs with respect to start-up characteristics, firm survival and innovative performance. I focus on immigrants from the 'recruitment countries' of south and...