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Suggested Citation:"Appendix B: Conference Participants." National Research Council. 2009. Investor Exits, Innovation, and Entrepreneurial Firm Growth: Questions for Research: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/12811.
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Appendix B
CONFERENCE PARTICIPANTS

Timothy F. Bresnahan, committee chair

Landau Professor in Technology and the Economy

Stanford University


David Benson

Ph.D. Candidate

Stephen M. Ross School of Business

University of Michigan


Lawrence V. Calcano

CEO & Technology Advisor

Calcano Capital Advisors


Susan Chaplinsky

Professor of Business Administration

Darden School of Business

University of Virginia


Ronald Cooper

Policy Analyst

Office of Technology

U.S. Small Business Administration


Gary Dushnitsky

Assistant Professor of Management

The Wharton School of Business

University of Pennsylvania


Mark Heesen

President

National Venture Capital Association


Yael V. Hochberg

Assistant Professor of Finance

Kellogg School of Management

Northwestern University

Suggested Citation:"Appendix B: Conference Participants." National Research Council. 2009. Investor Exits, Innovation, and Entrepreneurial Firm Growth: Questions for Research: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/12811.
×

David Hsu

Edward B. & Shirley R. Shils

Term Assistant Professor of Management

Wharton School of Business

University of Pennsylvania


Ron S. Jarmin

Research Director

Center for Economic Studies

U.S. Census Bureau


Brandon Jones

2007 Anderson Intern

STEP Board

The National Academies


William H. Janeway

Senior Advisor

Technology, Media & Telecommunications

Warburg Pincus, LLC


Josh Lerner, committee member

Jacob H. Schiff Professor of Investment Banking

Harvard Business School

Harvard University


Robert Litan

Vice President of Research and Policy

The Kauffman Foundation


Katherine V. Litvak

Assistant Professor

School of Law

The University of Texas, Austin


Stephen A. Merrill

Executive Director

STEP Board

The National Academies


David Morgenthaler

STEP Board Member

Founding Partner

Morgenthaler Ventures

Suggested Citation:"Appendix B: Conference Participants." National Research Council. 2009. Investor Exits, Innovation, and Entrepreneurial Firm Growth: Questions for Research: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/12811.
×

Edward Penhoet, committee member

President

The Gordon and Betty Moore Foundation


William J. Raduchel, committee member

Chairman

Opera Software ASA.


J. Leighton Read, committee member

General Partner

Alloy Ventures


Hal Scott

Nomura Professor of International Financial Systems & Director, Program on International Finance System

Harvard Law School

Harvard University


Chester S. Spatt

Mellon Bank Professor of Finance

Tepper School of Business

Carnegie Mellon University


Arun Sundararajan

Assistant Professor of Information Systems

Leonard N. Stern School of Business

New York University


Mahendra Shunmoogam

Senior Program Assistant

STEP Board

The National Academies


Susan E. Woodward, committee member

Principal

Sand Hill Econometrics, Inc.


Harry Yuklea

Ph.D. Candidate

Hebrew University, Jerusalem, Israel


Rosemarie Ziedonis

Assistant Professor of Corporate Strategy and International Business

Stephen M. Ross School of Business

University of Michigan

Suggested Citation:"Appendix B: Conference Participants." National Research Council. 2009. Investor Exits, Innovation, and Entrepreneurial Firm Growth: Questions for Research: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/12811.
×

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Suggested Citation:"Appendix B: Conference Participants." National Research Council. 2009. Investor Exits, Innovation, and Entrepreneurial Firm Growth: Questions for Research: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/12811.
×
Page 23
Suggested Citation:"Appendix B: Conference Participants." National Research Council. 2009. Investor Exits, Innovation, and Entrepreneurial Firm Growth: Questions for Research: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/12811.
×
Page 24
Suggested Citation:"Appendix B: Conference Participants." National Research Council. 2009. Investor Exits, Innovation, and Entrepreneurial Firm Growth: Questions for Research: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/12811.
×
Page 25
Suggested Citation:"Appendix B: Conference Participants." National Research Council. 2009. Investor Exits, Innovation, and Entrepreneurial Firm Growth: Questions for Research: Summary of a Workshop. Washington, DC: The National Academies Press. doi: 10.17226/12811.
×
Page 26
Investor Exits, Innovation, and Entrepreneurial Firm Growth: Questions for Research: Summary of a Workshop Get This Book
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The bursting of the dot-com bubble in 2001 coincided with an abrupt and 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. Since 2001, however, 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.

In 2007 investors, entrepreneurs, and academic experts in economics, corporate finance, and law came together to consider the merits and feasibility of additional research addressing the change in investor exit strategies, its causes and consequences. During the 2007 workshop, summarized in this volume, participants identified several factors complicating systematic inquiry and suggested a number of research avenues that could be productive.

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