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Market-Based Solutions to Vital Economic Issues


Market-Based Solutions to Vital Economic Issues

Kenan Institute Frontiers of Entrepreneurship 2018 Research Grant Awards

Experimentation, Learning, and Performance in Early-Stage Ventures: Evidence from an RCT

Andrea Contigiani
The Wharton School at the University of Pennsylvania

In the current debate over the key to early entrepreneurial success, proponents of both experimentation and planning have little more than anecdotal evidence to support their perspective. Using a field-based randomized control trial (RCT), Contigiani seeks to quantify how early-stage experimentation impacts the performance of entrepreneurial ventures. The trial will set up a venture competition with two randomly assigned groups: a treatment group in which experimentation is prioritized, and a control group that will emphasize planning. The study is designed to provide empirical evidence as to which approach has a greater impact on the performance of nascent entrepreneurial enterprises.

Unstructured Data Analytics for Entrepreneurship

Lin William Cong
Rudd Family Professor of Management and Associate Professor of Finance, Cornell University SC Johnson College of Business
Tengyuan Liang
The University of Chicago Booth School of Business

Because early-stage entrepreneurial projects do not generate stable cash flows and entail high uncertainty, using structured data, such as financial statements, to analyze them, is difficult and limited. Cong and Liang will work to develop a framework to analyze large-scale unstructured data on start-ups, especially text-based data from entrepreneurial websites, news and forum discussions. The researchers then use the framework to analyze how this information might be used to help explain and predict the performance and valuation of startups.

Joining Fin with Tech: The Relationships between Regional and Sectorial Entrepreneurial Ecosystems

Ben Spigel
University of Edinburgh Business School

A basic unanswered question about entrepreneurial ecosystems – particularly financial technology, or fintech ecosystems – is whether regions have single ecosystems that encompass all of their high-growth entrepreneurial community or have multiple, nested ecosystems centered around specific sectors. Spigel’s project will conduct a mixed methods study on the overlap between finance and technology communities in British ecosystems. A quantitative study will examine the backgrounds of the founding and advising teams of fintech startups and scale-ups in four British ecosystems: the City of London, East London, Edinburgh and Leeds. A subsequent qualitative study will look at knowledge flow between finance and technology communities in Edinburgh.

Does Entrepreneurship Experience Help or Hurt Men and Women’s Job Searches? Evidence from Randomized Field Experiments

Waverly W. Ding
University of Maryland Robert H. Smith School of Business
Debra L. Shapiro
University of Maryland Robert H. Smith School of Business
Hyeun J. Lee
University of Maryland Robert H. Smith School of Business

Research has shown that entrepreneurial activities and their returns are unequally distributed among majority and minority groups, but little is known about whether this inequality affects individuals’ career trajectories after they leave their entrepreneurial roles and seek employment in traditional labor markets. This research project will conduct field experiments to explore how an individual’s entrepreneurship experience impacts his or her subsequent success in the labor market, and whether this impact differs between men and women and among labor markets.

The Effect of State Angel Investor Tax credits

Sabrina T. Howell
New York University Stern School of Business
Filippo Mezzanotti
Northwestern University Kellogg School of Business

This project examines the effectiveness of U.S. state angel investor tax credits on startup financing, employment, and revenue outcomes.