Entrepreneurial finance, innovation and growth

Bank of Finland and CEPR joint conference
23–24 October 2014
Helsinki

Venue: Bank of Finland, Auditorium, Rauhankatu 19, Helsinki

Final programme

For each paper the speaker has 35 minutes and the discussant 10 minutes, with 5 minutes for general discussion.

Last updated: 18 November 2014

Thursday, 23 October
10.00 – 10.2010.20 – 10.30	Coffee and registration Welcome by the Bank of Finland Jouko Vilmunen, Head of Research
10.30 – 12.10	Session 1: Financial Development Chair: Jouko Vilmunen, Bank of Finland Financial Development and the Diffusion of Technologies Download paper (PDF 0.36 MB) Download presentation (PDF 0.21 MB) Diego Comin, Harvard Business School Ramana Nanda, Harvard Business School Discussant: Christian Fons-Rosen, Universitat Pompeu Fabra Download presentation (PDF 0.10 MB) Informality and Access to Finance: Evidence from India Download paper (PDF 1.18 MB) Download presentation (PDF 0.55 MB) Thorsten Beck, Cass Business School and City University London Mohammed Hoseini, Tilburg University Discussant: Iftekhar Hasan, Fordham University Download presentation (PDF 0.16 MB)
12.10 – 13.30	Lunch
13.30 – 14.30	Keynote 1 Chair: Seppo Honkapohja, Member of the Board, Bank of Finland Financing of R&D and Innovation Download presentation (PDF 0.29 MB) Bronwyn Hall, University of California, Berkeley
14.30 – 15.00	Coffee break
15.00 – 16.40	Session 2: Entrepreneurship Chair: Paul Schure, University of Victoria *The Unobserved Returns from Entrepreneurship* *Download paper* (PDF 0.98 MB) Download presentation (PDF 0.38 MB) Sarada, University of Wisconsin-Madison Discussant: Mirjam van Praag, Copenhagen Business School Download presentation (PDF 0.19 MB) House Money and Entrepreneurship Download paper (PDF 0.81 MB) *Download presentation (PDF 0.54 MB)* William Kerr, Harvard Business School Ramana Nanda, Harvard Business School Sari Pekkala Kerr, Wellesley College Discussant: Thomas Åstebro, HEC Paris Download presentation (PDF 0.15 MB)
16.40 – 17.10	Coffee break
17.10 – 18.50	Session 3: SMEs and Public Policy Chair: Esa Jokivuolle, Bank of Finland Corporate Income Taxation, Leverage, and Entrepreneurial Firm’s Growth Download paper (PDF 0.35 MB) Download presentation (PDF 0.77 MB Marco Da Rin, Tilburg University Marina Di Giacomo, Università di Torino Alessandro Sembenelli, Università di Torino and Collegio Carlo Alberto Discussant: Ari Hyytinen, University of Jyväskylä Download presentation (PDF 0.12 MB) Financing Constraints in the Crisis: Evidence from a Temporary Lending Program in Sweden Download paper (PDF 0.79 MB) Download presentation (PDF 0.42 MB) James R. Brown, Iowa State University Gustav Martinsson, Institute for Financial Research Christian Thomann, Kungliga Tekniska Högskolan Discussant: Pierre Mohnen, Maastricht University Download presentation (PDF 0.093 MB)
19.15	Dinner at the Bank of Finland’s Banqueting Hall (main building) hosted by Seppo Honkapohja, Member of the Board, Bank of Finland

Friday, 24 October

9.00 – 10.00	Keynote 2 Chair: Tuomas Takalo, Bank of Finland Private equity, leverage, and incentives Download presentation (PDF 1.11 MB) Per Strömberg, Stockholm School of Economics
10.00 – 10.30	Coffee break
10.30 – 12.10	Session 4: Venture Capital Chair: Mikko Leppämäki, Aalto University *Investor Horizon and the Life Cycle of Innovative Firms: Evidence from Venture Capital* *Download paper* (PDF 0.39 MB) Download presentation (PDF 1.45 MB) Jean-Noël Barrot, MIT Sloan School of Management Discussant: Carlos Serrano, Universitat Pompeu Fabra Download presentation (PDF 0.058 MB) Venture Capital and Knowledge Transfer Download paper (PDF 0.43 MB) Download presentation (PDF 0.39 MB) Roberta Dessi, Toulouse School of Economics Nina Yin, Tulane University Discussant: Yossi Spiegel, Tel Aviv University Download presentation (PDF 0.068 MB)
12.10 – 13.30	Lunch
13.30 – 15.10	Session 5: Financing of Innovation Chair: Mika Maliranta, Research Institute for the Finnish Economy Do Corporate Taxes Hinder Innovation? Download paper (PDF 0.92 MB) Abhiroop Mukherjee, Hong Kong University of Science and Technology Manpreet Singh, Hong Kong University of Science and Technology Alminas Zaldokas, Hong Kong University of Science and Technology Discussant: Mark Schankerman, London School of Economics Download presentation (PDF 0.25 MB) The Bank Lending Channel and Corporate Innovation Download paper (PDF 0.16 MB) Download presentation (PDF 0.21 MB) Spyridon Lagaras, University of Illinois, Urbana-Champaign Discussant: Geraldo Cerqueiro, Católica Lisbon School of Business and Economics Download presentation (PDF 0.38 MB)
15.10 – 15.40	Coffee break
15.40 – 17.20	*Session 6: Government Funding of Innovation* Chair: William Kerr, Harvard Business School Financing Constraints as Barriers to Innovation: Evidence from R&D Grants to Energy Startups Download paper (PDF 2.54 MB) Download presentation (PDF 18.39 MB) Sabrina Howell, Harvard University Discussant: Otto Toivanen, Katholieke Universiteit Leuven Download presentation (PDF 0.079 MB) Government Funding for R&D Startups Saul Lach, Hebrew University Zvika Neeman, Tel Aviv University Mark Schankerman, London School of Economics Discussant: Thomas Noe, University of Oxford
19.30	Informal dinner at Restaurant Salutorget for those who stay