Organizing Knowledge Production Teams Within Firms for Innovation

Published Research

How should firms organize their pool of inventive human capital for firm-level innovation? Although access to diverse knowledge may aid knowledge recombination, which can facilitate innovation, prior literature has focused primarily on one way of achieving that: diversity of inventor-held knowledge within a given knowledge production team. Read More

Personal Wealth and Self-Employment

Working Papers

We examine how wealth windfalls affect self-employment decisions using data on cash payments from claims on Texas shale drilling to people throughout the United States. Individuals who receive large wealth shocks (greater than $50,000) have 51% higher self-employment rates.Read More

Entrepreneur’s Knowledge, Firm Survival, and the Normalized Burn Rate

Working Papers

We study the association of spending per employee with startup firm survival. Our theory model posits that entrepreneur’s knowledge defines the complex decision process of combining human and non-human inputs to increase firm value. Read More

The Entrepreneurial Commercialization of Science: Evidence from “Twin” Discoveries

Working Papers

When are scientific advances translated into commercial products via startup formation? Although prior literature has offered several categories of answers, the commercial potential of a scientific advance is generally unobserved and potentially confounding. Read More

Inequality Aversion When the Reward is Scarce: The Case of Salary vs. Equity Compensation

Working Papers

Do workers have different equality preferences depending on the type of payoff? In many firms, the distribution of equity compensation is more equal than the distribution of salary. We design an experimental group production game to examine how workers respond to combinations of different distributions of equity and salary.Read More

Social Is the New Financial: How Startup Social Media Activity Influences Funding Outcomes

Working Papers

In this project, we explore the impact of startup firms’ social media activities on their entrepreneurial financing performance. Social media can mitigate information problems in entrepreneurial financing in two ways.Read More

Opening Up but Staying Local: Insights from Partnership Formations between Established and Startup Firms

Working Papers

In this paper, we develop and test a theoretical framework that considers how established firms forming partnerships with startups may be subject to spatial and temporal myopia and how these tendencies are moderated by the established firms’ histories of experiencing essential failures and successes in solving R&D problems. Read More

How a Startup’s ‘Burn Rate’ Influences Its Success

A critical factor that determines whether a startup succeeds or fails is its level of spending, or burn rate. Research from professors Ron Berman and Pablo Hernandez-Lagos examines how an entrepreneur’s education and experience levels can predict a startup’s burn rate, and thus its odds of success.Read More

Corporate VCs Yield Better Innovation Outcomes

Recent research by Senior Fellow Gary Dushnitsky measures the innovation success of new biotech ventures by tracking their patenting and publishing rates. He and coauthor Elisa Alvarez-Garrido find that the identity of the investor makes a big difference.Read More

Strategic switchbacks: Dynamic commercialization strategies for technology entrepreneurs

Published Research

We present a synthetic framework in which a technology entrepreneur employs a dynamic
commercialization strategy to overcome obstacles to the adoption of their ideal strategy. Whereas prior work portrays the choice of whether to license a new technology or to self-commercialize as a single, static decision, we suggest that when entrepreneurs encounter obstacles to their ideal strategy they can nevertheless achieve it by temporarily adopting a non-ideal strategy.Read More