NBER Working Papers and Publications
|December 2015||The Globalization of Angel Investments: Evidence across Countries|
with Josh Lerner, Antoinette Schoar, Stanislav Sokolinski: w21808
This paper examines investments made by 13 angel groups across 21 countries. We compare applicants just above and below the funding cutoff and find that these angel investors have a positive impact on the growth, performance, and survival of firms as well as their follow-on fundraising. The positive impact of angel financing is independent of the level of venture activity and entrepreneur-friendliness in the country. However, we find that the development stage and maturity of startups that apply for angel funding (and those that are ultimately funded) is inversely correlated with the entrepreneurship-friendliness of the country, which may reflect self-censoring by very early-stage firms that do not expect to receive funding in these environments.
Published: Josh Lerner & Antoinette Schoar & Stanislav Sokolinski & Karen Wilson, 2018. "The globalization of angel investments: Evidence across countries," Journal of Financial Economics, vol 127(1), pages 1-20.
|May 2006||The Architecture of the System of National Accounts: A Three-Way International Comparison of Canada, Australia, and the United Kingdom|
in A New Architecture for the U.S. National Accounts, Dale Jorgenson, J. Steven Landefeld, and William D. Nordhaus, editors
|February 2005||The Architecture of the System of National Accounts: A Three Country Comparison, Canada, Australia, and United Kingdom|
This paper summarizes the characteristics of the System of National Accounts as outlined in SNA93. It outlines the elements of infrastructure used to build the accounts and then describes the flow of accounts and supply and use framework used to construct integrated macro economic statistics. Three countries are then compared in the use of this standard; Australia, Canada and the United Kingdom.
Each of the three countries uses the Supply and Use framework (variant of Input Output tables) as the key integrating tool for building the system of accounts and GDP benchmarks are determined using the "production" approach inherent in the Supply and Use framework. In Australia and United Kingdom, the supply and use framework is used to balance and benchmark the flow of accounts up to and i...
Published: Karen Wilson, 2006. "The Architecture of the System of National Accounts: A Three-Way International Comparison of Canada, Australia, and the United Kingdom," NBER Chapters, in: A New Architecture for the U.S. National Accounts, pages 113-142 National Bureau of Economic Research, Inc.