[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_row_inner row_type="row" type="full_width" text_align="left" css_animation=""][vc_column_inner][vc_column_text] ABOUT THIS PROJECT [/vc_column_text][vc_column_text]Under Review[/vc_column_text][vc_empty_space height="16px"][vc_column_text] ABSTRACT [/vc_column_text][vc_column_text]Policies to promote entrepreneurial activity have received much attention in recent years. However, there is still much to learn about which policies actually work, and what are the exact mechanisms...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_row_inner row_type="row" type="full_width" text_align="left" css_animation=""][vc_column_inner][vc_column_text] ABOUT THIS PROJECT [/vc_column_text][vc_column_text]Under Review[/vc_column_text][vc_empty_space height="16px"][vc_column_text] ABSTRACT [/vc_column_text][vc_column_text]Loan guarantees are popular policy responses during the COVID-19 crisis. Despite their prevalence, evidence of their effectiveness is sparse. We estimate the impacts of UK guarantees implemented during the Great...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_row_inner row_type="row" type="full_width" text_align="left" css_animation=""][vc_column_inner][vc_column_text] ABOUT THIS PROJECT [/vc_column_text][vc_column_text]Accepted in Journal of Financial Economics[/vc_column_text][vc_empty_space height="16px"][vc_column_text] ABSTRACT [/vc_column_text][vc_column_text]Why is high-growth entrepreneurship scarce in developing countries? Does this scarcity reflect firm capabilities constraints? We explore these questions using as a laboratory an accelerator in...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_row_inner row_type="row" type="full_width" text_align="left" css_animation=""][vc_column_inner][vc_column_text] ABOUT THIS PROJECT [/vc_column_text][vc_column_text]This report explores how incubators and accelerators impact the startups they support, and which types of support drive this impact. It also examines how incubators and accelerators affect the wider business ecosystem.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_row_inner row_type="row" type="full_width" text_align="left" css_animation=""][vc_column_inner][vc_column_text] ABOUT THIS PROJECT [/vc_column_text][vc_column_text]R&R in Journal of Financial Economics.[/vc_column_text][vc_empty_space height="16px"][vc_column_text] ABSTRACT [/vc_column_text][vc_column_text]The EU’s 2019 Insolvency Directive increases debt holders’ control over bankruptcy reorganization proceedings, mirroring recent trends in U.S. Chapter 11. Critics, however, claim that too few...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_row_inner row_type="row" type="full_width" text_align="left" css_animation=""][vc_column_inner][vc_column_text] ABSTRACT [/vc_column_text][vc_column_text]One fundamental, long-standing pattern in the funding of early-stage companies has been the use of equity-style investments by venture capitalists (VCs). As a result, the perception has been that debt contracts are a negligible...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_row_inner row_type="row" type="full_width" text_align="left" css_animation=""][vc_column_inner][vc_column_text] ABOUT THIS PROJECT [/vc_column_text][vc_column_text]Published Review of Financial Studies[/vc_column_text][vc_empty_space height="16px"][vc_column_text] ABSTRACT [/vc_column_text][vc_column_text]Do business accelerators affect new venture performance? We investigate this question in the context of Start-Up Chile, an ecosystem accelerator. We focus on two treatment conditions typically...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_row_inner row_type="row" type="full_width" text_align="left" css_animation=""][vc_column_inner][vc_column_text] ABOUT THIS PROJECT [/vc_column_text][vc_column_text]R&R Journal of Financial Economics[/vc_column_text][vc_empty_space height="16px"][vc_column_text] ABSTRACT [/vc_column_text][vc_column_text]Innovating firms face a dilemma when setting contractual terms for management. Competing theories make opposing predictions on the relationship between contract-duration and innovation. Using novel data, we...