Erratum: Venture capital and innovation strategies

Erratum: Venture capital and innovation strategies Industrial and Corporate Change, 2017, 1–1 doi: 10.1093/icc/dtx005 Erratum 1, 2 Marco Da Rin * and Marıa Fabiana Penas Department of Finance, Tilburg University, Warandelaan 2, 5037AB Tilburg, The Netherlands. e-mail: mar- co.darin@uvt.nl and Department of Finance, Universidad Torcuato Di Tella, Buenos Aires, Argentina. email: fpenas@utdt.edu *Main author for correspondence. The publishers wish to apologize for an error in the original version of the above article. In Table 5, the second and third line of the heading—containing the headers “Buy-Only-Post,” “Make-Only-Post,” “Make-And-Buy-Post,” and “Marginal effect”—were erroneously left out. The correct table is printed below and has been replaced in the online version of this article. Footnotes 1 and 7 also contained hypertext, which has now been removed. Table 5. Multivariate analysis—additional models Young and small companies Old and large companies I II III I II III Buy-Only-Post Make-Only-Post Make-And-Buy-Post Buy-Only-Post Make-Only-Post Make-And-Buy-Post Marginal effect Marginal effect Marginal effect Marginal effect Marginal effect Marginal effect Venture-Capital 0.024 0.016 0.160*** 0.032 0.006 0.175*** [0.030] [0.039] [0.044] [0.033] [0.035] [0.046] Public-Funds 0.064*** 0.092*** 0.287*** 0.080*** 0.064*** 0.305*** [0.005] [0.01] [0.011] [0.006] [0.009] [0.011] Patents-Family-Size 0.023 0.017 0.086*** 0.030* 0.010 0.099*** [0.016] [0.015] [0.013] [0.018] [0.013] [0.015] Sales 0.007*** 0.013*** 0.036*** 0.007*** 0.014*** 0.040*** [0.002] [0.002] [0.002] [0.002] [0.002] [0.002] Company age 0.003 0.002 0.016*** 0.004 0.001 0.019*** [0.003] [0.004] [0.004] [0.004] [0.004] [0.004] High-tech 0.036*** 0.156*** 0.095*** 0.044*** 0.134*** 0.108*** [0.009] [0.014] [0.013] [0.010] [0.014] [0.015] Number of Observations 10,366 10,366 v 1,918.4 1,918.4 P-value 0.000 0.000 This Table reports results from multinomial probit regressions. The dependent variables are the innovation strategies. The baseline strategy is No-Make-No-Buy- Post. All variables (columns and rows) are defined in Table 1 and in Section 4.2. The models reported are discussed in Section 4.2. The “Young and small companies” columns report marginal effects from the regression of Table 4, where the effects are computed at the 25th percentile for company age and size, and at the median for all other explanatory variables. In the “Old and large companies” columns, the effects are computed at the 75th percentile for company age and size, and at the me- dian for all other explanatory variables. For each independent variable, we report the marginal effect, and in brackets, the corresponding standard errors. The symbols ***, **, and * indicate statistical significance at the 1, 5, and 10% level, respectively. V C The Author 2017. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved. Downloaded from https://academic.oup.com/icc/advance-article-abstract/doi/10.1093/icc/dtx005/2967603 by Ed 'DeepDyve' Gillespie user on 08 June 2018 http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Industrial and Corporate Change Oxford University Press

Erratum: Venture capital and innovation strategies

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Oxford University Press
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© The Author 2017. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.
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0960-6491
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10.1093/icc/dtx005
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Abstract

Industrial and Corporate Change, 2017, 1–1 doi: 10.1093/icc/dtx005 Erratum 1, 2 Marco Da Rin * and Marıa Fabiana Penas Department of Finance, Tilburg University, Warandelaan 2, 5037AB Tilburg, The Netherlands. e-mail: mar- co.darin@uvt.nl and Department of Finance, Universidad Torcuato Di Tella, Buenos Aires, Argentina. email: fpenas@utdt.edu *Main author for correspondence. The publishers wish to apologize for an error in the original version of the above article. In Table 5, the second and third line of the heading—containing the headers “Buy-Only-Post,” “Make-Only-Post,” “Make-And-Buy-Post,” and “Marginal effect”—were erroneously left out. The correct table is printed below and has been replaced in the online version of this article. Footnotes 1 and 7 also contained hypertext, which has now been removed. Table 5. Multivariate analysis—additional models Young and small companies Old and large companies I II III I II III Buy-Only-Post Make-Only-Post Make-And-Buy-Post Buy-Only-Post Make-Only-Post Make-And-Buy-Post Marginal effect Marginal effect Marginal effect Marginal effect Marginal effect Marginal effect Venture-Capital 0.024 0.016 0.160*** 0.032 0.006 0.175*** [0.030] [0.039] [0.044] [0.033] [0.035] [0.046] Public-Funds 0.064*** 0.092*** 0.287*** 0.080*** 0.064*** 0.305*** [0.005] [0.01] [0.011] [0.006] [0.009] [0.011] Patents-Family-Size 0.023 0.017 0.086*** 0.030* 0.010 0.099*** [0.016] [0.015] [0.013] [0.018] [0.013] [0.015] Sales 0.007*** 0.013*** 0.036*** 0.007*** 0.014*** 0.040*** [0.002] [0.002] [0.002] [0.002] [0.002] [0.002] Company age 0.003 0.002 0.016*** 0.004 0.001 0.019*** [0.003] [0.004] [0.004] [0.004] [0.004] [0.004] High-tech 0.036*** 0.156*** 0.095*** 0.044*** 0.134*** 0.108*** [0.009] [0.014] [0.013] [0.010] [0.014] [0.015] Number of Observations 10,366 10,366 v 1,918.4 1,918.4 P-value 0.000 0.000 This Table reports results from multinomial probit regressions. The dependent variables are the innovation strategies. The baseline strategy is No-Make-No-Buy- Post. All variables (columns and rows) are defined in Table 1 and in Section 4.2. The models reported are discussed in Section 4.2. The “Young and small companies” columns report marginal effects from the regression of Table 4, where the effects are computed at the 25th percentile for company age and size, and at the median for all other explanatory variables. In the “Old and large companies” columns, the effects are computed at the 75th percentile for company age and size, and at the me- dian for all other explanatory variables. For each independent variable, we report the marginal effect, and in brackets, the corresponding standard errors. The symbols ***, **, and * indicate statistical significance at the 1, 5, and 10% level, respectively. V C The Author 2017. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved. Downloaded from https://academic.oup.com/icc/advance-article-abstract/doi/10.1093/icc/dtx005/2967603 by Ed 'DeepDyve' Gillespie user on 08 June 2018

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Industrial and Corporate ChangeOxford University Press

Published: Feb 3, 2017

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