| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w9816 |
| 来源ID | Working Paper 9816 |
| Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986-1999 | |
| Paul Gompers; Josh Lerner; David Scharfstein | |
| 发表日期 | 2003-07-07 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | This paper examines the factors that lead to the creation of venture capital backed start-ups, a process we term entrepreneurial spawning.' We contrast two alternative views of the spawning process. In one view, employees of established firms are trained and conditioned to be entrepreneurs by being exposed to the entrepreneurial process and by working in a network of entrepreneurs and venture capitalists. Alternatively, individuals become entrepreneurs because the large bureaucratic companies for which they work are reluctant to fund their entrepreneurial ideas. Controlling for a firm's size, patent portfolio and industry, we find that the most prolific spawning firms were public companies located in Silicon Valley and Massachusetts that were themselves once venture capital backed. Less diversified firms are also more likely to spawn new firms. Spawning levels for these firms rise as their sales growth declines. Firms based in Silicon Valley and Massachusetts and originally backed by venture capitalists are more likely to spawn firms only peripherally related to their core businesses. Overall, these findings appear to be more consistent with the view that entrepreneurial learning and networks are important factors in the creation of venture capital backed firms. |
| 主题 | Financial Economics ; Financial Institutions ; Industrial Organization ; Firm Behavior |
| URL | https://www.nber.org/papers/w9816 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/567440 |
| 推荐引用方式 GB/T 7714 | Paul Gompers,Josh Lerner,David Scharfstein. Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986-1999. 2003. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w9816.pdf（318KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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