Found 24 article(s) for author 'William R. Kerr'

Entrepreneurship and Urban Growth: An Empirical Assessment with Historical Mines

Entrepreneurship and Urban Growth: An Empirical Assessment with Historical Mines. Edward L. Glaeser, William R. Kerr, May 2015, Paper. “We study entrepreneurship and growth through the lens of U.S. cities. Initial entrepreneurship correlates strongly with urban employment growth, but endogeneity bedevils interpretation. Chinitz (1961) hypothesized that coal mines near cities led to specialization in industries, like steel, with significant scale economies and that those big firms subsequently damped entrepreneurship across several generations. Proximity to historical mining deposits is associated with reduced…” Link

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Immigrant Entrepreneurship

Immigrant Entrepreneurship. William R. Kerr, December 2014, Paper. “This chapter examines immigrant entrepreneurship and the survival and growth of immigrant-founded businesses over time relative to native-founded companies. We quantify immigrant contributions to new firm creation in a wide variety of fields and using multiple definitions. While significant research effort has gone into understanding the economic impact of immigration into the United States, comprehensive data for quantifying immigrant entrepreneurship are difficult to assemble…” Link

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Financing Innovation

Financing Innovation. William R. Kerr, Ramana Nanda, November 2014, Paper. “We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This research strand has been very active over the past five years, generating important new findings, questioning some long-held beliefs, and creating its own puzzles. Our review outlines the growing body of work that documents a role for debt financing related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects and how this impacts optimal financing design…” Link

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Global Collaborative Patents

Global Collaborative Patents, William R. Kerr, Paper. “We study the prevalence and traits of global collaborative U.S. patents for U.S. public companies, deÖned to be patents with at least one inventor inside the United States and one abroad. Collaborative patents are frequently observed when a U.S. public company is entering into a new foreign region for innovative work, especially in less developed settings where intellectual property protection is weak. Collaborative patents are also more frequent when the U.S.-based workforce of the Örm has a strong ethnic component to it…” Link

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House Money and Entrepreneurship

House Money and Entrepreneurship. William R. Kerr, Ramana Nanda. September 24, 2014, Paper. “We examine the relationship between house prices and entrepreneurship using microdata from the US Census Bureau. Increases in house prices are often thought to drive entrepreneurship through unlocking the collateral channel for bank loans, but this interpretation is challenged by worries regarding omitted variable biases (e.g., rising local demand) or wealth effects (i.e., that wealthier people are more likely to enter entrepreneurship for reasons other than access to collateral)…” Link

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AVA.ph: Growing a Filipino E-Commerce Company

AVA.ph: Growing a Filipino E-Commerce Company. William R. Kerr, June 2014, Case. “AVA is a three-year old e-commerce company in the Philippines. From its early start mimicking the Gilt Groupe concept of online flash sales, the company has grown into a broader e-commerce platform for local fashion commerce. Oliver Segovia needs to evaluate where AVA should go next and answer some complicated personal questions. The case considers issues related to e-commerce platforms, diaspora-based international exchanges, business location choice, and global entrepreneurship broadly…” May require purchase or user account. Link Verified October 11, 2014

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Entrepreneurship as Experimentation

Entrepreneurship as Experimentation. William R. Kerr, Ramana Nanda, Matthew Rhodes-Kropf, Summer 2014, Paper. “Entrepreneurship research is on the rise, but many questions about its fundamental nature still exist. We argue that entrepreneurship is about experimentation: the probabilities of success are low, extremely skewed, and unknowable until an investment is made. At a macro level, experimentation by new firms underlies the Schumpeterian notion of creative destruction. However, at a micro level, investment and continuation decisions are not always made in a competitive Darwinian contest…” Link

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Firms and the Economics of Skilled Immigration

Firms and the Economics of Skilled Immigration. William R. Kerr, April 2014, Paper. “Firms play a central role in the selection, sponsorship, and employment of skilled immigrants entering the United States for work through programs like the H-1B visa. This role has not been widely recognized in the literature, and the data to better understand it have only recently become available. This paper discusses the evidence that has been assembled to date in understanding the impact of high-skilled immigration from the perspective of the firm and the open areas that call for more research…” Link Verified October 12, 2014

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Income Inequality and Social Preferences for Redistribution and Compensation Differentials

Income Inequality and Social Preferences for Redistribution and Compensation Differentials. William R. Kerr, 2014, Paper. “In cross-sectional studies, countries with greater income inequality typically exhibit less support for government-led redistribution and greater acceptance of wage inequality (e.g., United States versus Western Europe). If individual nations evolve along this pattern, a vicious cycle could form with reduced social concern amplifying primal increases in inequality due to forces like skill-biased technical change. Exploring movements around these long-term levels, however, this study finds…” Link

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The Consequences of Entrepreneurial Finance: Evidence from Angel Financings

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 Verified October 11, 2014

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