The interaction of open source and proprietary software and the implications for economic development.
Discussions of the economic impact of open source software often generate more heat than light. Advocates passionately assert the benefits of open source while critics decry its effects. Missing from the debate is rigorous economic analysis and systematic economic evidence of the impact of open source on consumers, firms, and economic development in general. This book fills that gap. 
In The Comingled Code, Josh Lerner and Mark Schankerman, drawing on a new, large-scale database, show that open source and proprietary software interact in sometimes unexpected ways, and discuss the policy implications of these findings.
The new data (from a range of countries in varying stages of development) documents the mixing of open source and proprietary software: firms sell proprietary software while contributing to open source, and users extensively mix and match the two. Lerner and Schankerman examine the ways in which software differs from other technologies in promoting economic development, what motivates individuals and firms to contribute to open source projects, how developers and users view the trade-offs between the two kinds of software, and how government policies can ensure that open source competes effectively with proprietary software and contributes to economic development.

The Comingled Code: Open Source and Economic Development (Mit Press)

Business & Money

Lerner, Josh

Schankerman, Mark

Economics

MIT Press]

In The Venture Capital Cycle, Paul Gompers and Josh Lerner correct widespread misperceptions about the nature and role of the venture capitalist and provide an accessible and comprehensive overview of the venture capital industry. Bringing together fifteen years of ground-breaking research into the form and function of venture capital firms, they examine the fund-raising, investing, and exit stages of venture capitalists. Three major themes run throughout the process: venture investors confront tremendous information and incentive problems; venture capital processes are inherently interrelated, and a complete understanding of the industry requires a full understanding of the venture cycle; and, unlike most financial markets, the venture capital industry adjusts very slowly to shifts in the demand for and the supply of investment capital.This second edition has been thoroughly revised in light of recent research findings, and includes six new chapters. The first part, on fund-raising, now includes a chapter that examines what determines the level of venture capital fund-raising and how tax policy influences the demand for venture capital. Three new chapters in the second part, on investing, examine what kind of distortions are introduced when the venture capital market goes dramatically up, a question prompted by the 1999-2000 market bubble; demonstrate that the venture capital industry does indeed spur innovation, an important determinant of economic growth; and examine whether and under what circumstances governments can be effective venture capitalists. Two new chapters in the third part, on exiting venture capital investments, discuss whether venture capital firms affiliated with investment-banks are prone to conflicts of interest with public offerings and how lockups on initial public offerings are used to limit conflicts of interest.

The Venture Capital Cycle

Gompers, Paul A.

Mit Pr

The Comingled Code: Open Source and Economic Development

Industries

The MIT Press

The venture capital industry in the United States has grown dramatically over the last two decades. Annual inflows to venture funds have expanded from virtually zero in the mid-1970s to more than $9 billion in 1997. Many of the most visible new firms—including Apple Computer, Genentech, Intel, Lotus, Microsoft, and Yahoo—have been backed by venture capital funds. Yet despite this tremendous growth and its visible success, venture capital remains a mysterious industry. Numerous misconceptions persist about the nature and role of venture capitalists. Paul Gompers and Josh Lerner's extensive research on venture capital organizations is based largely on original data sets developed through close relationships with institutional investors in venture capital funds and investment advisors. The Venture Capital Cycle synthesizes their path-breaking work. After a historical overview, the book looks at the formation of funds, the investment of the funds in operating companies, and the liquidation of these investments. The concluding chapter provides a road map for future research in this growing area. Three themes run throughout the book. The first is that all venture capitalists confront tremendous incentive and information problems. The second is that because the various stages of the venture capital processes are related, the entire process is best viewed as a cycle. The third is that, unlike most financial markets, the venture capital industry adjusts very slowly to shifts in the supply of capital and the demand for financing.

This book provides profound and balance insight into what venture capital is all about.

The Venture Capital Cycle, second edition

Gompers, Paul

The private equity and venture capital industry has become a leading pillar of modern investment, growing from $5 billion in 1980 to more than $530 billion in 2006. Yet many of its features remain puzzling even to advanced business students. Whether you are an MBA student, a private equity investor grappling with the industry's changes, or an investor interested in private equity as a potential investment, Venture Capital &amp; Private Equity: A Casebook, Fourth Edition will shed light on the history and workings of this complex area and prepare you for a career in the prestigious and profitable world of venture capital and private equity.

Venture Capital and Private Equity: A Casebook

Leamon, Ann

Hardymon, Felda

Finance

John Wiley&Sons, Inc.

Venture Capital, Private Equity, and the Financing of Entrepreneurship stems from a realization that private equity overall - defined in this volume as venture capital and buyouts but excluding hedge funds - has become a vastly more sizable and influential part of the global economic landscape over the past two decades. The text explores the world of active investing and showcases ways of doing business in a clear and concise manner. With more than 60 years of combined experience as practitioners in and/or academic investigators of private equity, Lerner, Leamon, and Hardymon explain how the fascinating world of private equity works, from start to finish, how it creates value, and where it may destroy value.

Venture Capital, Private Equity, and the Financing of Entrepreneurship: The Power of Active Investing

Venture Capital and Private Equity: A Casebook, 5th edition provides an understanding of the ways in which private equity groups work. The casebook builds an understanding of the key distinctions in the industry, and reviews and applies key ideas of corporate finance. The 5th edition continues to explore a wide variety of valuation approaches; from techniques widely used in practice to methods less frequently seen in practice today but likely to be increasingly important in the future years.

wiley

Cases and notes included are designed to provide an understanding of the history of the private equity industry's development, and the workings of the industry today. * Examines both the short-run and long-run effects for private equity investments. * Author is a leader and one of the most respected authorities in this field.

See the best price to sell, buy, or rent books by Lerner, Josh. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Lerner, Josh

See the best price to sell, buy, or rent books by Lerner, Josh. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

The Comingled Code: Open Source and Economic Development (Mit Press)

The Venture Capital Cycle

The Comingled Code: Open Source and Economic Development

The Comingled Code: Open Source and Economic Development (Mit Press)

The Venture Capital Cycle

The Venture Capital Cycle, second edition

Venture Capital and Private Equity: A Casebook

Venture Capital, Private Equity, and the Financing of Entrepreneurship: The Power of Active Investing

Venture Capital and Private Equity: A Casebook

Venture Capital and Private Equity: A Casebook