Onur Bayar, Thomas J. Chemmanur, Harshit Rajaiya, Xuan Tian, Qianqian Yu
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引用次数: 0
Abstract
We theoretically model an entrepreneur’s choice of his firm’s products to trademark, the relation between the number of trademarks and venture capital (VC) investment staging, long-run operating performance, and successful firm exit probability. We test model predictions using a large dataset of trademarks registered by VC-backed private US firms. We find that firms with a larger number of trademarks at first VC investment have a smaller number of VC financing rounds; have larger long-run sales and employment; and have greater probabilities of successful exit (initial public offering [IPO] or acquisition). Our instrumental variable analysis demonstrates that more trademarks causally enhance firm performance and reduce VC staging.JEL code: G23, G24, L26, O34
期刊介绍：
Entrepreneurship Theory and Practice (ETP) is an interdisciplinary scholarly journal dedicated to conceptual and empirical research that advances, tests, or extends theory relating to entrepreneurship in its broadest sense.
Article Topics:
Topics covered in ETP include, but are not limited to:
New Venture Creation, Development, Growth, and Performance
Characteristics, Behaviors, and Types of Entrepreneurs
Small Business Management
Family-Owned Businesses
Corporate, Social, and Sustainable Entrepreneurship
National and International Studies of Enterprise Creation
Research Methods in Entrepreneurship
Venture Financing
Content:
The journal publishes articles that explore these topics through rigorous theoretical development, empirical analysis, and methodological innovation. ETP serves as a platform for advancing our understanding of entrepreneurship and its implications for individuals, organizations, and society.
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