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Assessing the Contribution of Venture Capital to Innovation

Name
Assessing the Contribution of Venture Capital to Innovation
Cite
31 RAND J. of Econ. 674
Year
2000
Bluebook cite
Samuel Kortum And Josh Lerner, Assessing The Contribution Of Venture Capital To Innovation, 31 RAND J. of Econ. 674 (Winter 2000)

Author
Samuel Kortum and Josh Lerner
URL
http://www.jstor.org/stable/2696354
Item Type
article
Summary
We examine the influence of venture capital on patented inventions in the United States across twenty industries over three decades. We address concerns about causality in several ways, including exploiting a 1979 policy shift that spurred venture capital fundraising. We find that increases in venture capital activity in an industry are associated with significantly higher patenting rates. While the ratio of venture capital to R&D averaged less than 3% from 1983-1992, our estimates suggest that venture capital may have accounted for 8% of industrial innovations in that period.

Excerpts and Summaries

Created
Wednesday 19 of August, 2009 15:12:12 GMT
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Wednesday 19 of August, 2009 15:12:12 GMT
by Unknown


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