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  • All HBS Web  (5,080)
    • People  (1)
    • News  (643)
    • Research  (3,445)
    • Events  (68)
    • Multimedia  (17)
  • Faculty Publications  (2,233)
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  • January 2008
  • Article

Venture Capital Investment Cycles: The Impact of Public Markets

By: Paul Gompers, Anna Kovner, Josh Lerner and David Scharfstein
It is well documented that the venture capital industry is highly volatile and that much of this volatility is associated with shifting valuations and activity in public equity markets. This paper examines how changes in public market signals affected venture capital... View Details
Keywords: Market Cycles; Venture Capital; Investment; Experience and Expertise; Public Equity; Volatility; Financial Services Industry
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Gompers, Paul, Anna Kovner, Josh Lerner, and David Scharfstein. "Venture Capital Investment Cycles: The Impact of Public Markets." Journal of Financial Economics 87, no. 1 (January 2008): 1–23. (Earlier versions distributed as National Bureau of Economic Research Working Paper No. 11385.)

    The State of Small Business Lending: Credit Access during the Recovery and How Technology May Change the Game

    Small businesses are core to America’s economic competitiveness. Not only do they employ half of the nation’s private sector workforce – about 120 million people – but since 1995 they have created approximately two‐thirds of the net new jobs in our country. Yet in... View Details
    • 11 Jun 2013
    • Working Paper Summaries

    Measurement Errors of Expected Returns Proxies and the Implied Cost of Capital

    Keywords: by Charles C.Y. Wang
    • 03 Apr 2012
    • Working Paper Summaries

    Clear and Present Danger: Planning and New Venture Survival Amid Political and Civil Violence

    Keywords: by Shon Hiatt & Wesley Sine
    • 08 Mar 2012
    • Working Paper Summaries

    Customer-Driven Misconduct: How Competition Corrupts Business Practices

    Keywords: by Victor Manuel Bennett, Lamar Pierce, Jason A. Snyder & Michael W. Toffel; Auto
    • 25 Jan 2012
    • Working Paper Summaries

    Who Lives in the C-Suite? Organizational Structure and the Division of Labor in Top Management

    Keywords: by Maria Guadalupe, Hongyi Li & Julie Wulf
    • 03 May 2011
    • Working Paper Summaries

    Big BRICs, Weak Foundations: The Beginning of Public Elementary Education in Brazil, Russia, India, and China, 1880-1930

    Keywords: by Latika Chaudhary, Aldo Musacchio, Steven Nafziger & Se Yan
    • 2017
    • Working Paper

    Business and Sustainability: New Business History Perspectives

    By: Ann-Kristin Bergquist
    This working paper provides a long-term business history perspective on environmental sustainability. For a long time, the central issues addressed in the discipline of business history concerned how business enterprises innovated and created wealth, as well as... View Details
    Keywords: Environmental Sustainability; Business History; Perspective
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    Bergquist, Ann-Kristin. "Business and Sustainability: New Business History Perspectives." Harvard Business School Working Paper, No. 18-034, October 2017. (Revised November 2017.)
    • 2016
    • Working Paper

    The Mirroring Hypothesis: Theory, Evidence and Exceptions

    By: Lyra J. Colfer and Carliss Y. Baldwin
    The mirroring hypothesis predicts that organizational ties within a project, firm, or group of firms (e.g., communication, collocation, employment) will correspond to the technical patterns of dependency in the work being performed. A thorough understanding of the... View Details
    Keywords: Modularity; Innovation; Product And Process Development; Organization Design; Design Structure; Organizational Ties; Mirroring Hypothesis; Industry Architecture; Product Architecture; Complex Technical Systems; Information Technology; Organizational Design; Organizational Structure; Relationships; Innovation and Invention; Product Development
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    Colfer, Lyra J., and Carliss Y. Baldwin. "The Mirroring Hypothesis: Theory, Evidence and Exceptions." Harvard Business School Working Paper, No. 16-124, April 2016. (Revised May 2016.)
    • 21 Feb 2018
    • Research & Ideas

    When a Competitor Abandons the Market, Should You Advance or Retreat?

    training, I thought these positive market forces might counterbalance or dominate any potential learning or herding behavior. But it turns out that, on average, the perception of increased failure risk is stronger than the draw of less competition.” In the November... View Details
    Keywords: by Rachel Layne; Pharmaceutical; Health
    • Web

    Faculty & Research - Business History

    Inclusive Alliances: America Must Rediscover the Ideological Flexibility That Helped It Win the Cold War By: Jeremy Friedman 2024 Working Paper Health, Human Capital Development and the Longevity of Japanese Elites Since 710 By: Tom... View Details
    • 2024
    • Dictionary Entry

    Jerry R. Green (1946-)

    By: Eddie Dekel, John Geanakoplos and Scott Duke Kominers
    Jerry Green has a deep and long-standing connection to Harvard University, and in particular with its Economics Department. This paper begins by reviewing his intellectual background, and then turns to exploring how he has influenced scholars through his wide-ranging... View Details
    Keywords: Economics; Microeconomics; Theory; History; Game Theory; Decision Choices and Conditions; Education Industry; North America; United States; Cambridge; Massachusetts; Boston
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    Dekel, Eddie, John Geanakoplos, and Scott Duke Kominers. "Jerry R. Green (1946-)." In The Palgrave Companion to Harvard Economics, edited by Robert Cord. Palgrave Macmillan, forthcoming.
    • 2006
    • Working Paper

    Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs

    By: Paul A. Gompers, Anna Kovner, Josh Lerner and David S. Scharfstein
    This paper argues that a large component of success in entrepreneurship and venture capital can be attributed to skill. We show that entrepreneurs with a track record of success are more likely to succeed than first time entrepreneurs and those who have previously... View Details
    Keywords: Return On Investment; Entrepreneurship; Venture Capital; Success; Experience and Expertise
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    Gompers, Paul A., Anna Kovner, Josh Lerner, and David S. Scharfstein. "Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs." NBER Working Paper Series, No. 12592, October 2006.
    • 2022
    • Working Paper

    Failing Just Fine: Assessing Careers of Venture Capital-backed Entrepreneurs via a Non-wage Measure

    By: Natee Amornsiripanitch, Paul Gompers, George Hu, Will Levinson and Vladimir Mukharlyamov
    This paper proposes a non-pecuniary measure of career achievement, Seniority. Based on a database of over 5 million resumes, this metric exploits the variation in job titles and how long they take to attain. When non-monetary factors influence career choice, inference... View Details
    Keywords: Career Outcomes; Founders; Personal Development and Career; Venture Capital; Entrepreneurship
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    Amornsiripanitch, Natee, Paul Gompers, George Hu, Will Levinson, and Vladimir Mukharlyamov. "Failing Just Fine: Assessing Careers of Venture Capital-backed Entrepreneurs via a Non-wage Measure." NBER Working Paper Series, No. 30179, June 2022.
    • January 2018
    • Article

    The Globalization of Angel Investments: Evidence Across Countries

    By: Josh Lerner, Antoinette Schoar, Stanislav Sokolinski and Karen Wilson
    This paper examines investments made by 13 angel groups across 21 countries. We compare applicants just above and below the funding cutoff and find that these angel investors have a positive impact on the growth, performance, and survival of firms as well as their... View Details
    Keywords: Entrepreneurship; Globalization; Investment; Business Startups
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    Lerner, Josh, Antoinette Schoar, Stanislav Sokolinski, and Karen Wilson. "The Globalization of Angel Investments: Evidence Across Countries." Journal of Financial Economics 127, no. 1 (January 2018): 1–20.
    • 2015
    • Working Paper

    Collateral Shortages and Intermediation Networks

    By: Marco Di Maggio and Alireza Tahbaz-Salehi
    This paper argues that in the presence of trading frictions and agency problems, the interbank market may be overly fragile, in the sense that small changes in the liquidity of assets used as collateral may lead to large swings in haircuts and a potential credit... View Details
    Keywords: Financial Intermediation; Financial Networks; Secured Lending; Collateral; Repo Runs; ABCP Collapse; Networks; Negotiation; Financing and Loans; Financial Crisis
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    Di Maggio, Marco, and Alireza Tahbaz-Salehi. "Collateral Shortages and Intermediation Networks." Working Paper, November 2015. (Revise and Resubmit to The Review of Financial Studies.)
    • September 2011
    • Article

    Up Close and Personal: Developing Foundations for Leader Development through Personalization of Management Learning

    By: Gianpiero Petriglieri, Jack D. Wood and Jennifer L. Petriglieri
    This paper examines the process through which management students develop personal foundations (such as self-awareness, self-management, and a grounding life narrative) for the ongoing development and practice of leadership. We conducted an inductive, qualitative study... View Details
    Keywords: Leadership Development; Innovation and Invention; Personal Development and Career; Curriculum and Courses; Customization and Personalization; Learning; Management Practices and Processes; Business Education
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    Petriglieri, Gianpiero, Jack D. Wood, and Jennifer L. Petriglieri. "Up Close and Personal: Developing Foundations for Leader Development through Personalization of Management Learning." Academy of Management Learning & Education 10, no. 3 (September 2011). (

    Nominated for Carolyn Dexter Award For the paper that best meets the objective of internationalizing the Academy presented by Academy of Management. Winner of Best Paper in Graduate Management Education Sponsored by the Graduate Management Admission Council (GMAC) presented by Academy of Management​

    .)
    • May 2004
    • Article

    The Case for International Coordination of Electricity Regulation: Evidence from the Measurement of Efficiency in South America

    A decade of experience has shown that monitoring the performance of public and private monopolies is the hardest part of electricity sector reform in South America—because operators control most of the information needed for effective regulation. South American... View Details
    Keywords: Information; Mathematical Methods; Monopoly; Globalization; Energy Sources; Energy Industry; South America
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    Ruzzier, Christian Alejandro, A. Estache, and M. Rossi. "The Case for International Coordination of Electricity Regulation: Evidence from the Measurement of Efficiency in South America." Journal of Regulatory Economics 25, no. 3 (May 2004): 271–295.
    • 27 Jan 2016
    • News

    Kodak’s Old-School Response to Disruption

    • 27 Mar 2018
    • HBS Seminar

    Jeffrey Clemens, University of San Diego, Economics

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