Kauffman: Conferences & Seminars (Topic)最新文献_第5页

Globalization of Venture Capital: A Product- and Asset-Cycle View: An Examination of Information Technology Ventures 风险投资的全球化:一个产品和资产周期的视角:对信息技术风险投资的考察

Kauffman: Conferences & Seminars (Topic) Pub Date : 2007-07-20 DOI: 10.2139/ssrn.1001262

C. Mann

{"title":"Globalization of Venture Capital: A Product- and Asset-Cycle View: An Examination of Information Technology Ventures","authors":"C. Mann","doi":"10.2139/ssrn.1001262","DOIUrl":"https://doi.org/10.2139/ssrn.1001262","url":null,"abstract":"Classic production models in the global economy proceed through a product cycle of innovation at home, followed by commoditization, pressure for cost minimization, and then some combination of production abroad, sales abroad, and export to the original and other foreign markets. Asset and financial market models can exhibit dramatic swings in prices and investment activity apparently caused by incomplete information and herd behavior, among other things. Investments financed by venture capital entail both a 'bet' on a particular stage of innovative product or service as well as a flow of financial capital - hence could exhibit characteristics of both the product cycle as well as the asset cycle. This paper uses data on individual venture deals in the fast-innovating information technology sector to investigate patterns of venture finance to see whether venture capital exhibits either or both of these cycles. There is significant evidence of a product cycle based not only on both traditional theory of cost minimization, but also on more modern theories of demand patterns and technological innovation. It is hard to argue that there is not an overall internet-related asset cycle, particularly in software investment in foreign portfolio firms. There is little evidence of herding toward specific investments by product or services type or by country, although there is some evidence of herding toward later-stage investments for all countries, particularly for India.","PeriodicalId":276603,"journal":{"name":"Kauffman: Conferences & Seminars (Topic)","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126821700","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Measuring the Dynamics of Young and Small Businesses: Integrating the Employer and Nonemployer Universes 衡量年轻和小型企业的动态:整合雇主和非雇主世界

Kauffman: Conferences & Seminars (Topic) Pub Date : 2007-07-01 DOI: 10.3386/W13226

Steven J. Davis, Steven J. Davis, Steven J. Davis, J. Haltiwanger, J. Haltiwanger, Ron S. Jarmin, C. Krizan, Javier Miranda, A. Nucci, Kristin Sandusky

{"title":"Measuring the Dynamics of Young and Small Businesses: Integrating the Employer and Nonemployer Universes","authors":"Steven J. Davis, Steven J. Davis, Steven J. Davis, J. Haltiwanger, J. Haltiwanger, Ron S. Jarmin, C. Krizan, Javier Miranda, A. Nucci, Kristin Sandusky","doi":"10.3386/W13226","DOIUrl":"https://doi.org/10.3386/W13226","url":null,"abstract":"We develop a preliminary version of an Integrated Longitudinal Business Database (ILBD) that combines administrative records and survey data for all employer and nonemployer business units in the United States. Unlike other large-scale business databases, the ILBD tracks business transitions from nonemployer to employer status. This feature of the ILBD opens a new frontier for the study of business formation, early lifecycle dynamics and the precursors to job creation in the U.S. economy. There are 5.4 million nonfarm business firms with employees as of 2000 and another 15.5 million with no employees. Our analysis focuses on 40 industries that account for nearly half of nonemployers and 36 percent of nonemployer revenues. Within these industries, nonemployers account for 14 percent of business revenues. About 220,000 of the seven million nonemployers in our selected industries hire workers and migrate to the employer universe over a three-year horizon. These Migrants account for 20 percent of revenue among young employers (three years or less since first hire). Compared to other nonemployers, the revenue of Migrants grows very rapidly in the year prior to and the year of transition to employer status.","PeriodicalId":276603,"journal":{"name":"Kauffman: Conferences & Seminars (Topic)","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124066251","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 126

Estate Taxation, Entrepreneurship, and Wealth 遗产税、企业家精神和财富

Kauffman: Conferences & Seminars (Topic) Pub Date : 2007-06-01 DOI: 10.1257/AER.99.1.85

M. Cagetti, Mariacristina De Nardi

引用次数: 189

Agricultural Entrepreneurs: The First and the Forgotten? 农业企业家:第一批和被遗忘的?

Kauffman: Conferences & Seminars (Topic) Pub Date : 2007-04-26 DOI: 10.2139/ssrn.1020697

Steven T. Richards, Steve Bulkley

引用次数: 41