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On the economic performance of nascent entrepreneurs

Dora Gicheva and Albert Link

European Economic Review, 2016, vol. 86, issue C, 109-117

Abstract: This paper assesses the R&D performance of nascent and established technology-based small firms that receive a Phase II R&D award from the U.S. Small Business Innovation Research (SBIR) program. Our empirical analysis is based on a two-stage selection probit model, which is used to estimate the probability of commercialization conditional on the Phase II project having not failed. Our model predicts, and our analysis confirms, that nascent firms are more likely to fail in their SBIR-supported R&D endeavors. Further, we find that nascent firms that do not fail have a higher probability of commercializing their developed technology.

Keywords: L26; O31; O33; O38; Entrepreneurship; R&D; Commercialization; Innovation; SBIR program (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eecrev:v:86:y:2016:i:c:p:109-117

DOI: 10.1016/j.euroecorev.2015.07.018

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European Economic Review is currently edited by T.S. Eicher, A. Imrohoroglu, E. Leeper, J. Oechssler and M. Pesendorfer

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