The DOI matches its Crossref record; 13 of the 13 references it cites were found in a registry or an index.
Assessing the Contribution of Venture Capital to Innovation
Abstract
We examine the influence of venture capital on patented inventions in the United States across twenty industries over three decades. We address concerns about causality in several ways, including exploiting a 1979 policy shift that spurred venture capital fundraising. We find that increases in venture capital activity in an industry are associated with significantly higher patenting rates. While the ratio of venture capital to R&D averaged less than 3 % from 1983–1992, our estimates suggest that venture capital may have accounted for 8 % of industrial innovations in that period. 1.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
A Simple, Positive Semi-Definite, Heteroskedasticity and AutocorrelationConsistent Covariance Matrix
Newey, W., & West, K. (1986) · National Bureau of Economic Research · doi:10.3386/t0055 · Cited by 12,278
The Dynamics of Productivity in the Telecommunications Equipment Industry
Olley, G. S., & Pakes, A. (1996) · Econometrica · doi:10.2307/2171831 · Cited by 7,112
Issues in Assessing the Contribution of Research and Development to Productivity Growth
Griliches, Z. (1979) · The Bell Journal of Economics · doi:10.2307/3003321 · Cited by 4,215
Schmookler, J. (1966) · Harvard University Press eBooks · doi:10.4159/harvard.9780674432833 · Cited by 3,101
A Penny for Your Quotes: Patent Citations and the Value of Innovations
Trajtenberg, M. (1990) · The RAND Journal of Economics · doi:10.2307/2555502 · Cited by 2,956
Errors in variables in panel data
Griliches, Z., & Hausman, J. A. (1986) · Journal of Econometrics · doi:10.1016/0304-4076(86)90058-8 · Cited by 1,617
The Interaction between Product Market and Financing Strategy: The Role of Venture Capital
Hellmann, T., & Puri, M. (2000) · Review of Financial Studies · doi:10.1093/rfs/13.4.959 · Cited by 1,270
Estimating Production Functions Using Inputs to Control for Unobservables
Levinsohn, J., & Petrin, A. (2000) · National Bureau of Economic Research · doi:10.3386/w7819 · Cited by 1,072
Economic Analysis of Legal Disputes and Their Resolution
Cooter, R. D., & Rubinfeld, D. L. (1989) · bepress Legal Repository · Cited by 672
Patents and R&D: Is There A Lag?
Hall, B., Griliches, Z., & Hausman, J. (1984) · National Bureau of Economic Research · doi:10.3386/w1454 · Cited by 538
Cited by
Resolving Information Asymmetry: Signaling, Endorsement, and Crowdfunding Success
Courtney, C., Dutta, S., & Li, Y. (2017) · Entrepreneurship Theory and Practice · doi:10.1111/etap.12267 · Cited by 760
Entrepreneurship as Experimentation
Kerr, W. R., Nanda, R., & Rhodes-Kropf, M. (2014) · Journal of Economic Perspectives · doi:10.1257/jep.28.3.25 · Cited by 704
Venture Capital, Entrepreneurship, and Economic Growth
Samila, S., & Sorenson, O. (2011) · Review of Economics and Statistics · doi:10.1162/rest_a_00066 · Cited by 673
Banking deregulation and innovation
Chava, S., Oettl, A., Subramanian, A., & Subramanian, K. V. (2013) · Journal of Financial Economics · doi:10.1016/j.jfineco.2013.03.015 · Cited by 618
Innovation and Incentives: Evidence from Corporate R&D
Lerner, J., & Wulf, J. (2007) · Review of Economics and Statistics · doi:10.1162/rest.89.4.634 · Cited by 482
Self-citation
Metadata
- Authors
- Kortum, S., & Lerner, J.
- Venue
- The RAND Journal of Economics
- Publisher
- Wiley
- Published
- 2000
- Volume
- 31
- Issue
- 4
- Pages
- 674
- ISSN
- 0741-6261 (ISSN-L)
- OpenAlex
- W2030937998
- Cited by
- 2,094
- References
- 13
- FWCI
- 109.77
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: Assessing the Contribution of Venture Capital to Innovation. https://app.cochat.ai/papers/10.2307/2696354
- The paper
- Kortum, S., & Lerner, J. (2000). Assessing the Contribution of Venture Capital to Innovation. The RAND Journal of Economics. https://doi.org/10.2307/2696354
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
