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Essays in Entrepreneurship and Finance.

Ratigan, R. David.

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Essays in Entrepreneurship and Finance.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays in Entrepreneurship and Finance./
Author:	Ratigan, R. David.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2019,
Description:	124 p.
Notes:	Source: Dissertations Abstracts International, Volume: 81-09, Section: A.
Contained By:	Dissertations Abstracts International81-09A.
Subject:	Entrepreneurship. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=27543839
ISBN:	9781392372524

Essays in Entrepreneurship and Finance.
Ratigan, R. David.

Essays in Entrepreneurship and Finance. - Ann Arbor : ProQuest Dissertations & Theses, 2019 - 124 p.

Source: Dissertations Abstracts International, Volume: 81-09, Section: A.

Thesis (Ph.D.)--Temple University, 2019.

This item must not be sold to any third party vendors.

In this dissertation, I study three economic issues in the field of entrepreneurship and a fourth that looks at the network structure of financial markets.Chapter 1, titled "Patenting and Nascent Firm Performance", examines how patents interact with nascent firm outcomes. The primary motivation follows a puzzle present in the data and discussed in the literature. Patents are prized possessions for business owners but the value that they confer is dubious. In this sample, patenting firms have no better survival rates and have significantly worse profit outcomes. A Oaxaca decomposition demonstrates the reason for this lies with patents' attraction of equity financing. The burden of the equity relationship proves to be a strain on the young firms.Chapter 2, titled "Signal vs Appropriation Value in Patenting" provides insight into the causal connection between patents and equity financing. This chapter also weighs in on the source of the equity firms' attraction to patents. Controlling for unobservable influences via fixed effects regression, the value measured by the coefficient on patent, demonstrates the appropriative value of the patent, rather than the signal value. Further examination reveals that equity firms are very sensitive to the legal status of the firm, eschewing general partnerships.Chapter 3, titled "Peer Effects in Entrepreneurship", studies gender differences in firm financing as a function of response to peers. This research borrows from the social interaction modeling pioneered by Charles Manski by adopting methods to include peer variables. The main finding is that males are positively and significantly affected by peer financing levels but females are not. This result is robust to industry, experience, credit risk, and other financing sources.Chapter 4, "Network Analysis of the S&P 500", examines the financial market as a network. The literature takes two approaches to performing this analysis but no study has compared the two approaches. This chapter is the first study to compare them and provide insight as to which provides the more descriptive model. The threshold correlation approach provides much more useful results for any kind of analysis involving market connectedness and shock transition dynamics.

ISBN: 9781392372524Subjects--Topical Terms:

526739
Entrepreneurship.
Subjects--Index Terms:

Entrepreneurship

Essays in Entrepreneurship and Finance.
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020 $a 9781392372524
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100 1 $a Ratigan, R. David. $3 3547027
245 1 0 $a Essays in Entrepreneurship and Finance.
260 1 $a Ann Arbor : $b ProQuest Dissertations & Theses, $c 2019
300 $a 124 p.
500 $a Source: Dissertations Abstracts International, Volume: 81-09, Section: A.
500 $a Advisor: Webber, Douglas.
502 $a Thesis (Ph.D.)--Temple University, 2019.
506 $a This item must not be sold to any third party vendors.
506 $a This item must not be added to any third party search indexes.
520 $a In this dissertation, I study three economic issues in the field of entrepreneurship and a fourth that looks at the network structure of financial markets.Chapter 1, titled "Patenting and Nascent Firm Performance", examines how patents interact with nascent firm outcomes. The primary motivation follows a puzzle present in the data and discussed in the literature. Patents are prized possessions for business owners but the value that they confer is dubious. In this sample, patenting firms have no better survival rates and have significantly worse profit outcomes. A Oaxaca decomposition demonstrates the reason for this lies with patents' attraction of equity financing. The burden of the equity relationship proves to be a strain on the young firms.Chapter 2, titled "Signal vs Appropriation Value in Patenting" provides insight into the causal connection between patents and equity financing. This chapter also weighs in on the source of the equity firms' attraction to patents. Controlling for unobservable influences via fixed effects regression, the value measured by the coefficient on patent, demonstrates the appropriative value of the patent, rather than the signal value. Further examination reveals that equity firms are very sensitive to the legal status of the firm, eschewing general partnerships.Chapter 3, titled "Peer Effects in Entrepreneurship", studies gender differences in firm financing as a function of response to peers. This research borrows from the social interaction modeling pioneered by Charles Manski by adopting methods to include peer variables. The main finding is that males are positively and significantly affected by peer financing levels but females are not. This result is robust to industry, experience, credit risk, and other financing sources.Chapter 4, "Network Analysis of the S&P 500", examines the financial market as a network. The literature takes two approaches to performing this analysis but no study has compared the two approaches. This chapter is the first study to compare them and provide insight as to which provides the more descriptive model. The threshold correlation approach provides much more useful results for any kind of analysis involving market connectedness and shock transition dynamics.
590 $a School code: 0225.
650 4 $a Entrepreneurship. $3 526739
650 4 $a Intellectual property. $3 572975
650 4 $a Finance. $3 542899
650 4 $a Economic theory. $3 1556984
653 $a Entrepreneurship
653 $a Financial Markets
653 $a Firm Financing
653 $a Gender
653 $a Patents
653 $a Small Business
690 $a 0429
690 $a 0513
690 $a 0508
690 $a 0511
710 2 $a Temple University. $b Economics. $3 1678121
773 0 $t Dissertations Abstracts International $g 81-09A.
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791 $a Ph.D.
792 $a 2019
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=27543839