The Consequences of Entrepreneurial Finance: Evidence from Angel Financings. William R. Kerr, January 2014, Paper. “This paper documents that ventures that are funded by two successful angel groups experience superior outcomes to rejected ventures: they have improved survival, exits, employment, patenting, web traffic, and financing. We use strong discontinuities in angel funding behavior over small changes in their collective interest levels to implement a regression discontinuity approach. We confirm the positive effects for venture operations…” Link┬áVerified October 11, 2014