In this article, I review the theoretical and empirical literature on the effects of public and
private equity markets on firm behavior, emphasizing the consequences that emerge from …

Venture capital is associated with some of the most high-growth and influential firms in the
world. Academics and practitioners have effectively articulated the strengths of the venture …

We survey 885 institutional venture capitalists (VCs) at 681 firms to learn how they make
decisions. Using the framework in Kaplan and Strömberg (2001), we provide detailed …

Open banking (OB) empowers bank customers to share transaction data with fintechs and
other banks. 49 countries have adopted OB policies. Consumer trust in fintechs predicts OB …

We develop a valuation model for venture capital–backed companies and apply it to 135 US
unicorns, that is, private companies with reported valuations above $1 billion. We value …

Assessing the state of American entrepreneurship requires not simply counting the quantity
but also the initial quality of new ventures. Combining comprehensive business registries …

The deregulation of securities laws—in particular the National Securities Markets
Improvement Act (NSMIA) of 1996—has increased the supply of private capital to late-stage …

There are powerful imperatives on governments to support innovation, which have only
grown more urgent amid slowing growth in the developed world and a rapidly changing …

We examine the role of first impressions in angel investor decision-making. Video stills of
entrepreneurs pitching on the Shark Tank show and in Startup Battlefield competitions yield …

Over the past 30 years, the economies in Europe have undergone major transformations
that have been powered by diffusion of information and communication technology (ICT) …