| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19191 |
| 来源ID | Working Paper 19191 |
| Patents as Signals for Startup Financing | |
| Annamaria Conti; Jerry Thursby; Marie C. Thursby | |
| 发表日期 | 2013-06-28 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | We examine the role of patents as signals used to reduce information asymmetries in entrepreneurial finance. A theoretical model gives conditions for a unique separating equilibrium in which startup founders file for patents to signal invention quality to investors, as well as appropriating value. The theory allows for heterogeneous investors and examine the optimal match of different types of startups, as defined by the quality of their technology, to investors who differ in the amount of non financial capital they provide. The empirical analysis is consistent with the model's predictions using a novel dataset of Israeli startups that received external funding during the period 1994-2011. |
| 主题 | Financial Economics ; Financial Markets ; Development and Growth ; Development ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w19191 |
| 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/576864 |
| 推荐引用方式 GB/T 7714 | Annamaria Conti,Jerry Thursby,Marie C. Thursby. Patents as Signals for Startup Financing. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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