Paper Title: Money, Time, and Grant Design The design of research grants might be a useful tool for incentivizing more socially valuable science. To better understand the value of grant design as a policy instrument, we conduct two sets of thought experiments in a nationally representative survey of academic researchers. First, we test whether grants …
Category Archives: Past
Ayako Yasuda (UC Davis)
September 25, 2023 Paper: Do Investors Overvalue Startups? Evidence from the Junior Stakes of Mutual Funds (pdf) We show that mutual funds report their junior stakes in startups at 43% higher valuation than model fair values that consider multi-tier capital structures of startups. The latest-issued and most senior security is worth 48% per share than …
Filippo Mezzanotti (Kellogg)
Paper Title: Research and/or Development? Financial Frictions and Innovation Investment Presenter: Filippo Mezzanotti (Kellogg), Coauthors: Tim Simcoe (Boston University) Discussant: Sharon Belenzon (Duke) Video
David Robinson (Duke University)
Paper Title: Why Aren’t There More Minority Entrepreneurs? Presenter: David Robinson (Duke), Coauthors: Victor Bennett (Utah) Discussant: Emmanuel Yimfor (Columbia) Video
Manasa Gopal (Georgia Tech)
Presenter: Manasa Gopal (Georgia Tech) Coauthors: Sudheer Chava (Georgia Tech), Manpreet Singh (Georgia Tech), and Yafei Zhang (Georgia Tech) Discussant: Erik Mayer (SMU)
Daniel Gross (Duke University)
“America, Jump-started: World War II R&D and the Takeoff of the U.S. Innovation System” Presenter: Daniel P. Gross (Duke) Coauthors: Bhaven N. Sampat (Columbia) Discussant: Bitsy Perlman (Census)
Viola Salvestrini (Queen Mary University of London)
Title: “Early exposure to entrepreneurship and the creation of female entrepreneurs” Using registry data from Denmark, we track the educational and professional choices of one million individuals from adolescence to adulthood and investigate the effects of early exposure to entrepreneurs on the gender gap and the allocation of talent in entrepreneurship. We exploit within-school, across-cohort …
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Julia Fonseca (University of Illinois Urbana-Champaign)
Title: “How Much Do Small Businesses Rely on Personal Credit?” This paper estimates the degree of substitution between personal and small business credit for U.S. entrepreneurs between 2009 and 2018 using a novel, individual-level dataset. We identify the effect of business credit supply shocks by exploiting geographic variation in the market share of large banks, …
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Abhishek Nagaraj (University of California, Berkeley)
Title: “The Streetlight Effect in Data-Driven Exploration” We consider settings such as innovation-oriented R&D and entrepreneurship where agents must explore across different projects with varying but uncertain payoffs. How does providing partial data on project payoffs affect individual performance and social welfare? While data can typically reduce uncertainty and improve welfare, we present a simple …
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Ana Babus (Washington University in St. Louis)
Title: “The Anatomy of Financial Innovation” The number of varieties of financial products that firms can use to raise funds from investors has rapidly expanded over the past decades. And yet, many firms issue only a few standard products, such as common stocks and bonds. This paper studies innovation in financial products using a combination …
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