Conference Overview

Fourth Entrepreneurial
Finance and Innovation Conference

June 10th — June 11th, 2013
Brandeis International Business School

Supported by
The Ewing Marion Kauffman Foundation,
Society for Financial Studies,
The Asper Center for Global Entrepreneurship

Conference Organizers
Thomas Chemmanur, Paolo Fulghieri, and Debarshi Nandy

Keynote Speaker
Paul A. Gompers
Eugene Holman Professor of Business Administration
Harvard Business School


Following the success of the first three EFIC conferences, we will be organizing the third EFIC on June 10 and 11, which will be held this year at the Brandeis International Business School. The aim of this conference is to bring to the forefront issues related to the financing of entrepreneurial firms, and to explore various institutional, legal, and financial sector developments that affect the creation of such firms, their rate of success, the dynamism of incumbent firms, and their contribution to economic development. The conference will also focus on understanding the role of entrepreneurs, various intermediaries, institutional investors, and financial markets in the governance of entrepreneurial firms.  international comparisons of institutional, legal (especially contractual), and market structures that foster entrepreneurship and entrepreneurial success are also welcome. Of special interest is the effect of alternative forms of financing (such as debt and equity) on the creation and success of entrepreneurial firms. Conference papers will be considered for inclusion in a special issue of Review of Corporate Finance Studies. For submission procedures and RCFS dual submission guidelines, please consult the conference website at or the RCFS website at


While submissions from a wide range of perspectives are welcome, the following are some of the topics the conference will focus on:

  • The role of access to finance in creating entrepreneurial firms, fostering their success, affecting innovation, and in their exit choice decisions
  • The role of financial intermediaries like banks, and private equity investors including venture capitalists and angels in entrepreneurial business creation and in the success of such ventures
  • The role of market structure and product market competition on the creation, financing, and success of entrepreneurial firms and in shaping innovation at entrepreneurial firms
  • Governance and board structure of entrepreneurial firms and its impact on the development and success of entrepreneurial firms
  • The capital structure of new firms
  • International comparison of institutional, legal, and contractual structures fostering entrepreneurship
  • The impact of the recent financial crisis on entrepreneurship and new business creation and innovation.
  • Policy proposals to encourage new business creation and innovation.

While both theoretical papers and empirical papers using any relevant data source are welcome, submission of papers using microdata (for example, Census datasets such as the ILBD, LBD, LEHD, LRA and SBO, as well as other microdata such as the Kauffman Firm Survey, Survey of Small Business Finances, Panel Survey of Entrepreneurial Dynamics, and Small Business Economic Trends, and the National Small Business Poll) to analyze any of the above issues are particularly encouraged.

Reasonable domestic travel expenses including airfare (max. $500) and accommodation for the presenting authors will be borne by the conference. In addition, the conference will also present the Asper Center Best Paper Award for the most original paper at the conference as selected by the program committee.

The deadline for submission is March 31, 2013. However, authors are highly encouraged to submit as soon as the paper is ready for consideration. The organizers will inform authors submitting a paper by the first week of May about inclusion in the conference. Submissions will open on March 1. To submit a paper, please visit the conference webpage at



The Asper Center for Global Entrepreneurship at Brandeis International Business School will also present a $1,000 Best Paper Award for the most original paper presented at the conference, which will be selected by the program committee members.


Daniel Bergstresser Brandeis University
Thomas Hellmann University of British Columbia
Adam Jaffe Brandeis University
William Kerr Harvard University
Karthik Krishnan Northeastern University
Josh Lerner Harvard University
Gustavo Manso University of California at Berkeley
Ramana Nanda Harvard University
Vikram Nanda Georgia Institute of Technology
Matthew Rhodes-Kropf Harvard University
Alicia Robb Kauffman Foundation
David Robinson Duke University
Amit Seru University of Chicago
Morten Sorensen Columbia University
Robert Strom Kauffman Foundation
Heather Tookes Yale University


The Asper Center for Global Entrepreneurship serves as Brandeis' platform to probe and understand the key trends affecting entrepreneurship across cultures and borders. It provides an array of learning experiences through courses, seminars and conferences, internships, business plan competitions, field visits and meetings with global entrepreneurs. The Center was established by Leonard J. Asper '86, the current CEO of The Fight Network and the former president of CanWest Global Communications, Canada's largest media conglomerate.