MTEI Seminar by Prof. Thomas Astebro
Event details
| Date | 22.10.2012 |
| Speaker | Prof. Thomas Astebro, HEC Paris |
| Location | |
| Category | Conferences - Seminars |
"Business Partners, Financing, and the Commercialization of Inventions"
Abstract
This paper studies the effect of business partners on the commercialization of invention-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 partners marginally impacting business success and to selection. After controlling for selection effects and observed/unobserved heterogeneity, the smallest estimate of partner human/social capital approximately doubles the probability of commercialization and increases expected revenues by 29% at the sample mean.
By Thomas Åstebro and Carlos J. Serrano
Abstract
This paper studies the effect of business partners on the commercialization of invention-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 partners marginally impacting business success and to selection. After controlling for selection effects and observed/unobserved heterogeneity, the smallest estimate of partner human/social capital approximately doubles the probability of commercialization and increases expected revenues by 29% at the sample mean.
By Thomas Åstebro and Carlos J. Serrano
Practical information
- General public
- Free
Organizer
- Management of Technology & Entrepreneurship Institute (MTEI)