NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Publications by Annamaria Conti

Contact and additional information for this authorAll papers and publicationsWorking Papers onlyWorking Papers with publication info

Working Papers and Chapters

July 2014The (Changing) Knowledge Production Function: Evidence from the MIT Department of Biology from 1970-2000
with Christopher C. Liu
in The Changing Frontier: Rethinking Science and Innovation Policy, Adam Jaffe and Benjamin Jones, editors
April 2014The (Changing) Knowledge Production Function: Evidence from the MIT Department of Biology for 1970-2000
with Christopher C. Liu: w20037
Considerable attention has been focused, in recent years, on the role that graduate and postdoc students play in the production of academic knowledge. Using data from the MIT Department of Biology for the period 1970-2000, we analyze the evolution over time of four fundamental aspects of their productivity: i) training duration; ii) time to a first publication; iii) productivity over the training period; and iv) collaboration with other scientists. We identified four main trends that are common to graduate students and postdocs. First, training periods have increased for later cohorts of graduate and postdoc students. Second, later cohorts tend to publish their initial first-author article later than the earlier cohorts. Third, they produce fewer first-author publications. Finally, colla...
June 2013Patents as Signals for Startup Financing
with Jerry Thursby, Marie C. Thursby: w19191
We examine the role of patents as signals used to reduce information asymmetries in entrepreneurial finance. A theoretical model gives conditions for a unique separating equilibrium in which startup founders file for patents to signal invention quality to investors, as well as appropriating value. The theory allows for heterogeneous investors and examine the optimal match of different types of startups, as defined by the quality of their technology, to investors who differ in the amount of non financial capital they provide. The empirical analysis is consistent with the model's predictions using a novel dataset of Israeli startups that received external funding during the period 1994-2011.
May 2011Show Me the Right Stuff: Signals for High Tech Startups
with Marie C. Thursby, Frank Rothaermel: w17050
We present a theoretical model of startup signaling with multiple signals and potential di erences in external investor preferences. For a novel sample of technology incubator startups, we empirically examine the use of patents and founder, friends, and family (FFF) money as such signals, nding that they are jointly endogenous to venture capital and business angel investment in the startups. For this sample, venture capitalists appear to value patents more highly than FFF money, while the reverse is true for business angels. Moreover, the impact of patents on venture capitalists is larger than the impact of FFF money on business angels.

Contact and additional information for this authorAll papers and publicationsWorking Papers onlyWorking Papers with publication info

 
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