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Investor Exits, Innovation, and Entrepreneurial Firm Growth
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The bursting of the dot-com bubble in 2001 coincided with an abrupt and so far lasting change in the development of entrepreneurial venture-backed firms in the United States. Previously, entrepreneurs and investors commonly took viable young firms public through initial public offerings (IPOs). In some well-known cases, these firms subsequently grew into major, globally competitive corporations marketing new products and services and employing large numbers of skilled workers at high wages. Since 2001, venture investors have more frequently exited by selling their companies to established corporations, usually for lower returns. There are concerns among some entrepreneurs, investors, and academics that this change has reduced the potential of young, entrepreneurial firms to contribute to innovation, job creation, international competitiveness, and economic growth. There are also claims that public policies, including securities regulation, have contributed to this result and should be modified or compensated for.
978-0-309-14760-6
NONE
Investor Exits, Innovation, and Entrepreneurial Firm Growth
Management
English
2009
1-39
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