Katar­ina Ibert Warg

How do ven­ture cap­it­al mar­kets shape in­nov­a­tion pro­duc­tion? Three pa­pers in my port­fo­lio ad­dress dif­fer­ent as­pects of this ques­tion: Do VCs lead break­through in­nov­a­tion? How does cap­it­al sup­ply shape in­nov­a­tion in­cent­ives? And how do VC exit pref­er­ences shape star­tups’ in­nov­a­tion strategies?

I study who funds new ven­tures and why. My re­search on busi­ness an­gels re­veals how wealth, edu­ca­tion, ex­per­i­ence, and risk pref­er­ences shape early-stage fin­an­cing, of­fer­ing a deep­er un­der­stand­ing of the in­di­vidu­als be­hind en­tre­pren­eur­i­al cap­it­al and their con­tri­bu­tion and im­port­ance to the en­tre­pren­eur­i­al fin­an­cing land­scape.

How do cog­nit­ive and non-cog­nit­ive skills shape en­tre­pren­eur­i­al suc­cess, firm per­form­ance, and en­tre­pren­eur­i­al in­come? Do suc­cess­ful en­tre­pren­eurs trans­ition into the fin­an­cing land­scape, as, e.g., busi­ness an­gels? I ex­plore these as­pects of en­tre­pren­eur­i­al re­turns in my re­search.