Business Partners, Financing, and the Commercialization of Inventions / Thomas Åstebro, Carlos J. Serrano.

Format:

Book

Author/Creator:

Åstebro, Thomas.

Contributor:

National Bureau of Economic Research.

Serrano, Carlos J.

Series:

Working Paper Series (National Bureau of Economic Research) no. w17181.

NBER working paper series no. w17181

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2011.

Summary:

This paper studies the effect of business partners on the commercialization of nvention based ventures, and it assesses the relative importance of partners' human and social capital on commercialization outcomes. Projects run by partnerships were five times more likely to reach commercialization, and they had mean revenues approximately ten times greater than projects run by solo-entrepreneurs. These gross differences may be due both to business partners' value added and to selection. After controlling for selection effects and observed/unobserved heterogeneity, our smallest estimate of partner value added approximately doubles the probability of commercialization and increases expected revenues by 29% at the sample mean.

Notes:

Print version record

June 2011.