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Financing Entrepreneurship
This important collection comprises 24 previously published papers. These include foundational papers which offer an understanding of the conceptual and historical substructure of entrepreneurial finance and more recent seminal works about entrepreneurs and the obstacles that they systematically seek to overcome. Further articles describe the variety of institutional forms that have evolved to address the challenges inherent in entrepreneurial finance and the role of government in the process of innovation, entrepreneurship and the financing of new ventures. These papers, complemented by the editors’ comprehensive introduction, are essential for scholars, researchers, policymakers and entrepreneurs wishing to advance their understanding of this important and expanding field of study.
More Information
Contributors
Contents
More Information
This important collection comprises 24 previously published papers. These include foundational papers which offer an understanding of the conceptual and historical substructure of entrepreneurial finance and more recent seminal works about entrepreneurs and the obstacles that they systematically seek to overcome. Further articles describe the variety of institutional formsthat have evolved to address the challenges inherent in entrepreneurial finance and the role of government in the process of innovation, entrepreneurship and the financing of new ventures. These papers, complemented by the editors’ comprehensive introduction, are essential for scholars, researchers, policymakers and entrepreneurs wishing to advance their understanding of this important and expanding field of study.
Contributors
24 articles, dating from 1921 to 2005
Contributors include: B. Hall, G. Hubbard, F. Knight, N. Lamoreaux, E. Lazear, J. Lerner, B. Petersen, H. Rosen, J. Schumpeter, R. Zeckhauser
Contributors include: B. Hall, G. Hubbard, F. Knight, N. Lamoreaux, E. Lazear, J. Lerner, B. Petersen, H. Rosen, J. Schumpeter, R. Zeckhauser
Contents
Contents:
Acknowledgements
Introduction Philip Auerswald and Ant Bozkaya
PART I CONTEXT
1. Frank H. Knight (1921), ‘Enterprise and Profit’
2. Joseph A. Schumpeter (1949), ‘Economic Theory and Entrepreneurial History’
PART II OVERVIEW
3. Edward P. Lazear (2005), ‘Entrepreneurship’
4. Paul Gompers, Josh Lerner and David Scharfstein (2005), ‘Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986 to 1999’
5. David B. Audretsch and Paula E. Stephan (1996), ‘Company-Scientist Locational Links: The Case of Biotechnology’
6. Allen N. Berger and Gregory F. Udell (1998), ‘The Economics of Small Business Finance: The Roles of Private Equity and Debt Markets in the Financial Growth Cycle’
PART III CHALLENGES
7. Douglas Holtz-Eakin, David Joulfaian and Harvey S. Rosen (1994), ‘Sticking It Out: Entrepreneurial Survival and Liquidity Constraints’
8. R. Glenn Hubbard (1998), ‘Capital-Market Imperfections and Investment’
9. Raghuram G. Rajan and Luigi Zingales (1995), ‘What Do We Know About Capital Structure? Some Evidence from International Data’
10. Robert E. Carpenter and Bruce C. Petersen (2002), ‘Is the Growth of Small Firms Constrained by Internal Finance?’
PART IV SOLUTIONS
A Self-Finance
11. Anuradha Basu and Simon. C. Parker (2001), ‘Family Finance and New Business Start-Ups’
B Commercial Banks
12. Bernard S. Black and Ronald J. Gilson (1998), ‘Venture Capital and the Structure of Capital Markets: Banks versus Stock Markets’
13. Carola Schenone (2004), ‘The Effect of Banking Relationships on the Firm’s IPO Underpricing’
C Angel Investors
14. Jeremy Berkowitz and Michelle J. White (2004), ‘Bankruptcy and Small Firms’ Access to Credit’
15. Naomi R. Lamoreaux, Margaret Levenstein and Kenneth L. Sokoloff (2007), ‘Financing Invention during the Second Industrial Revolution: Cleveland, Ohio, 1870–1920’
D Venture Capital
16. Paul Gompers and Josh Lerner (2001), ‘The Venture Capital Revolution’
17. Steven N. Kaplan and Per Strömberg (2003), ‘Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts’
18. Thomas Hellmann and Manju Puri (2002), ‘Venture Capital and the Professionalization of Start-Up Firms: Empirical Evidence’
E Public Financing and IPO
19. Philip E. Auerswald and Lewis M. Branscomb (2003), ‘Valleys of Death and Darwinian Seas: Financing the Invention to Innovation Transition in the United States’
20. Jay R. Ritter and Ivo Welch (2002), ‘A Review of IPO Activity, Pricing and Allocations’
PART V PUBLIC POLICY
21. Richard Zeckhauser (1996), ‘The Challenge of Contracting for Technological Information’
22. Samuel Kortum and Josh Lerner (2000), ‘Assessing the Contribution of Venture Capital to Innovation’
23. Josh Lerner (2002), ‘When Bureaucrats Meet Entrepreneurs: The Design of Effective “Public Venture Capital” Programmes’
24. Bronwyn H. Hall (2002), ‘The Financing of Research and Development’
Name Index
Acknowledgements
Introduction Philip Auerswald and Ant Bozkaya
PART I CONTEXT
1. Frank H. Knight (1921), ‘Enterprise and Profit’
2. Joseph A. Schumpeter (1949), ‘Economic Theory and Entrepreneurial History’
PART II OVERVIEW
3. Edward P. Lazear (2005), ‘Entrepreneurship’
4. Paul Gompers, Josh Lerner and David Scharfstein (2005), ‘Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986 to 1999’
5. David B. Audretsch and Paula E. Stephan (1996), ‘Company-Scientist Locational Links: The Case of Biotechnology’
6. Allen N. Berger and Gregory F. Udell (1998), ‘The Economics of Small Business Finance: The Roles of Private Equity and Debt Markets in the Financial Growth Cycle’
PART III CHALLENGES
7. Douglas Holtz-Eakin, David Joulfaian and Harvey S. Rosen (1994), ‘Sticking It Out: Entrepreneurial Survival and Liquidity Constraints’
8. R. Glenn Hubbard (1998), ‘Capital-Market Imperfections and Investment’
9. Raghuram G. Rajan and Luigi Zingales (1995), ‘What Do We Know About Capital Structure? Some Evidence from International Data’
10. Robert E. Carpenter and Bruce C. Petersen (2002), ‘Is the Growth of Small Firms Constrained by Internal Finance?’
PART IV SOLUTIONS
A Self-Finance
11. Anuradha Basu and Simon. C. Parker (2001), ‘Family Finance and New Business Start-Ups’
B Commercial Banks
12. Bernard S. Black and Ronald J. Gilson (1998), ‘Venture Capital and the Structure of Capital Markets: Banks versus Stock Markets’
13. Carola Schenone (2004), ‘The Effect of Banking Relationships on the Firm’s IPO Underpricing’
C Angel Investors
14. Jeremy Berkowitz and Michelle J. White (2004), ‘Bankruptcy and Small Firms’ Access to Credit’
15. Naomi R. Lamoreaux, Margaret Levenstein and Kenneth L. Sokoloff (2007), ‘Financing Invention during the Second Industrial Revolution: Cleveland, Ohio, 1870–1920’
D Venture Capital
16. Paul Gompers and Josh Lerner (2001), ‘The Venture Capital Revolution’
17. Steven N. Kaplan and Per Strömberg (2003), ‘Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts’
18. Thomas Hellmann and Manju Puri (2002), ‘Venture Capital and the Professionalization of Start-Up Firms: Empirical Evidence’
E Public Financing and IPO
19. Philip E. Auerswald and Lewis M. Branscomb (2003), ‘Valleys of Death and Darwinian Seas: Financing the Invention to Innovation Transition in the United States’
20. Jay R. Ritter and Ivo Welch (2002), ‘A Review of IPO Activity, Pricing and Allocations’
PART V PUBLIC POLICY
21. Richard Zeckhauser (1996), ‘The Challenge of Contracting for Technological Information’
22. Samuel Kortum and Josh Lerner (2000), ‘Assessing the Contribution of Venture Capital to Innovation’
23. Josh Lerner (2002), ‘When Bureaucrats Meet Entrepreneurs: The Design of Effective “Public Venture Capital” Programmes’
24. Bronwyn H. Hall (2002), ‘The Financing of Research and Development’
Name Index
