Technifying Ventures

Yoshiki Ando, Emin Dinlersoz, Jeremy Greenwood and Ruben Piazzesi

No 33993, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: What is the relationship between advanced technology adoption, venture capital (VC) funding, employment, and growth? Using US Census Bureau microdata, the analysis shows both factors are independently and positively associated with firm outcomes, but their combination matters most. VC backing is concentrated among a small group of firms that experience large employment gains post-funding. In contrast, advanced technology is adopted by a broader range of firms, which see smaller post-adoption employment increases. A startup model is calibrated with firm-level data to study reallocation effects associated with tax and subsidy changes, and quantify the economic roles of VC and advanced technology.

JEL-codes: E13 G24 O30 O40 (search for similar items in EconPapers)
Date: 2025-07
New Economics Papers: this item is included in nep-bec, nep-sbm and nep-tid
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Working Paper: Technifying Ventures (2025)
Working Paper: Technifying Ventures (2025)
Working Paper: Technifying Ventures (2025)
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