Performance Persistence in Entrepreneurship
All else equal, a venture-capital-backed entrepreneur who starts a company that goes public has a 30 percent chance of succeeding in his or her next venture. First-time entrepreneurs, on the other hand, have only an 18 percent chance of succeeding, and entrepreneurs who previously failed have a 20 percent chance of succeeding. But why do these contrasts exist? HBS professors Paul A. Gompers, Anna Kovner, … [ Read more ]
Content: Article | Authors: Anna Kovner, David S. Scharfstein, Josh Lerner, Paul A. Gompers | Source: Harvard Business School (HBS) | Subject: Entrepreneurship
Boom and Bust in the Venture Capital Industry and the Impact on Innovation
This paper seeks to understand the implications of the recent collapse in venture activity on innovation. It argues that the situation may not be as grim as it initially appears. While there are many reasons for believing that on average venture capital has a powerful impact on innovation, the impact is far from uniform. In particular, during boom periods, the prevalence of over-funding of particular … [ Read more ]
Content: Article | Author: Josh Lerner | Sources: Harvard Business School (HBS) Working Knowledge, Social Science Research Network (SSRN) | Subjects: Innovation, Venture Capital
Venture Capital and Private Equity: A Casebook
Content: Book | Author: Josh Lerner | Subjects: Industry Specific, Venture Capital
The Money of Invention: How Venture Capital Creates New Wealth
Content: Book | Authors: Josh Lerner, Paul A. Gompers | Subjects: Entrepreneurship, Venture Capital