Showing 1-9 of 9 items

• Seminar | Technology & Operations Management (TOM) Seminar

  Volodymyr Babich , Georgetown University

  TOM Seminar: Does Crowdfunding Benefit Entrepreneurs and Venture Capital Investors?

  Abstract:

  We study how a new form of entrepreneurial finance - crowdfunding - interacts with more traditional financing sources, such as venture capital (VC) and bank financing. We model a multi-stage bargaining game, with a moral-hazard problem between entrepreneurs and banks, and a double-sided moral-hazard problem between entrepreneurs and VCs. We decompose the economic value of crowdfunding into cash gains or losses, costs of bad investments avoided, and project-payoff probability update. This economic value is generally shared between entrepreneurs and VC investors, benefiting both. However, successful crowdfunding can also harm the entrepreneur and the VC by i) exacerbating moral hazard and ii) intensifying investor competition which reduces value to VC investors, who may walk away from the deal entirely. This can hurt entrepreneurs who lose out on valuable VCs' operational expertise (operational support, access to supplier networks, etc.). The model provides a theoretical underpinning for recent empirical observations that some projects lose VC financing after successful crowdfunding campaigns. Our results complement earlier studies by demonstrating that the entrepreneurs' objectives are more complex than simply maximizing the payoffs from crowdfunding campaigns.

  November 14, 2019 | 12:30pm - 2:00pm | Baker Library | Bloomberg Center 102 | Harvard Business School faculty and doctoral students only

  Organizer: Technology & Operations Management Unit

  More Information

• Seminar | Science-based Business Seminar

  Ashley Nunes (Senior Research Associate, Labor and Worklife Program at Harvard Law School) , Harvard Law School

  SBBI Seminar: Can Driverless Technology Upend Personal Vehicle Ownership? A Bottom-Up Global Analysis

  
  

  November 15, 2019 | 12:00pm - 1:30pm | Baker Library | Bloomberg Center 102 | Harvard community only

  Organizer: Technology & Operations Management Unit

  More Information

• Seminar | Science-based Business Seminar

  Naomi Hausman, Edward Glaeser, Hebrew University of Jerusalem & Harvard University

  SBBI Seminar: The Spatial Mismatch Between Innovation and Joblessness

  
  

  November 22, 2019 | 12:00pm - 1:30pm | Baker Library | Bloomberg Center 102 | Harvard community only

  Organizer: Technology & Operations Management Unit

  The Spatial Mismatch Between Innovation and JoblessnessMore Information

• Seminar | Technology & Operations Management (TOM) Seminar

  Georgia Parks, MIT Sloan School of Management

  TOM Seminar: Georgia Parks

  December 5, 2019 | 12:30pm - 2:00pm | Baker Library | Bloomberg Center 102 | Harvard Business School faculty and doctoral students only

  Organizer: Technology & Operations Management Unit

• Seminar | Technology & Operations Management (TOM) Seminar

  Param Vir Singh, Tepper School of Business

  TOM Seminar: Param Vir Singh

  February 27, 2020 | 12:30pm - 2:00pm | Baker Library | Bloomberg Center 102 | Harvard Business School faculty and doctoral students only

  Organizer: Technology & Operations Management Unit

• Seminar | Technology & Operations Management (TOM) Seminar

  Nicolaj Siggelkow, Wharton, University of Pennsylvania

  TOM Seminar: Nicolaj Siggelkow

  April 2, 2020 | 12:30pm - 2:00pm | Baker Library | Bloomberg Center 102 | Harvard Business School faculty and doctoral students only

  Organizer: Technology & Operations Management Unit

• Seminar | Technology & Operations Management (TOM) Seminar

  Hanna Halaburda, NYU Stern School of Business

  TOM Seminar: Hanna Halaburda

  April 16, 2020 | 12:30pm - 2:00pm | Baker Library | Bloomberg Center 102 | Harvard Business School faculty and doctoral students only

  Organizer: Technology & Operations Management Unit

• Seminar | Technology & Operations Management (TOM) Seminar

  Jeff Furman, Boston University

  TOM Seminar: Jeff Furman

  April 23, 2020 | 12:30pm - 2:00pm | Baker Library | Bloomberg Center 102 | Harvard Business School faculty and doctoral students only

  Organizer: Technology & Operations Management Unit

• Seminar | Technology & Operations Management (TOM) Seminar

  Fiona Murray, MIT Sloan School of Management

  TOM Seminar: Fiona Murray

  April 30, 2020 | 12:30pm - 2:00pm | Baker Library | Bloomberg Center 102 | Harvard Business School faculty and doctoral students only

  Organizer: Technology & Operations Management Unit