Venture capital

Working Paper

28 January 2019

Cross-Border Venture Capital Investments: What Is the Role of Public Policy?

Cross-border venture capital (VC) investments play an important role in the scaling up of high-growth companies. However, policymakers worry that foreign VC investments transfer the majority of economic activity to the investor...

Wendy A. Bradley | Gilles Duruflé | Thomas Hellmann | Karen E. Wilson
27 August 2019

Startups and Company Law: The Competitive Pressure of Delaware on Italy (and Europe?)

US corporate law and, in particular, Delaware law, which leaves ample room to freedom of contract, has been one of the reasons for the successful creation and financing of startups in Silicon Valley. We analyze the Italian attempt to...

Paolo Giudici | Peter Agstner
19 September 2019

Be Careful What You Ask for: Fundraising Strategies in Equity Crowdfunding

We use equity crowdfunding data to ask how fundraising amounts can be explained by what entrepreneurs ask for, versus what investors want to invest. The analysis exploits unique features of crowdfunding where entrepreneurs not only...

Thomas Hellmann | Ilona Mostipan | Nir Vulkan
19 September 2019

Getting Tired of Your Friends: The Dynamics of Venture Capital Relationships

Does doing more deals together always strengthen investor relationships? Based on the relationships of the top 50 US venture capital firms, this paper focuses on the strengths of relationships and their dynamic evolution. Empirical...

Qianqian Du | Thomas Hellmann
25 February 2020

The Future or Fancy? An Empirical Study of Public Benefit Corporations

The public benefit corporation (“PBC”) is one of the most hyped developments in corporate law, due to the PBC’s unique social purpose. Unlike the traditional corporation, directors of PBCs are required under their fiduciary...

Michael B. Dorff | James Hicks | Steven Davidoff Solomon

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