The Incentives to Start New Companies: Evidence from Venture Capital
---- Acknowledgments ----
We are grateful to Ravi Jagannathan and numerous seminar participants for comments and to Katherine Litvak for data on limited partner terms. Hall's research is part of the Economic Fluctuations and Growth Program of the National Bureau of Economic Research. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.