Difference between revisions of "Samila Sorenson (2011) - Venture Capital Entrepreneurship And Economic Growth"
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|Has page=Samila Sorenson (2011) - Venture Capital Entrepreneurship And Economic Growth | |Has page=Samila Sorenson (2011) - Venture Capital Entrepreneurship And Economic Growth | ||
|Has title=Venture Capital Entrepreneurship And Economic Growth | |Has title=Venture Capital Entrepreneurship And Economic Growth | ||
| − | |Has author= | + | |Has author=Samila Sorenson |
|Has year=2011 | |Has year=2011 | ||
|In journal= | |In journal= | ||
Revision as of 13:23, 29 September 2020
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| Has author | Samila Sorenson |
| Has year | 2011 |
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- This page is referenced in The NBER Entrepreneurship Research Boot Camp Page
Reference(s)
- Samila, Sampsa and Olav Sorenson (2011), "Venture Capital, Entrepreneurship, and Economic Growth", Review of Economics and Statistics, 93: 338-349 pdf
Abstract
Using a panel of U.S. metropolitan areas, we find that increases in the supply of venture capital positively affect firm starts, employment, and aggregate income. Our results remain robust to a variety of specifications, including ones that address endogeneity. The estimated magnitudes imply that venture capital stimulates the creation of more firms than it funds, which appears consistent with two mechanisms: First, would-be entrepreneurs anticipating financing needs more likely start firms when the supply of capital expands. Second, funded companies may transfer know-howto their employees, thereby enabling spin-offs, and may encourage others to become entrepreneurs through demonstration effects.
