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Entrepreneurial Finance and Innovation Conference (EFIC)


Ewing Marion Kauffman Foundation and the Asper Center for Global Entrepreneurship are pleased to announce the Sixth Entrepreneurial Finance and Innovation Conference

Conference Registration has closed. If you have any questions, please contact Barbara Cassidy at 781-736-8351.

September 18-20 2015
Brandeis International Business School
415 South Street
Waltham, MA 02453

Keynote Speaker:
Professor Steven Neil Kaplan
Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance
University of Chicago, Booth School of Business

Conference Organizers:
Thomas Chemmanur - Boston College
Paolo Fulghieri - University of North Carolina, Chapel Hill
Debarshi Nandy - Brandeis University

Sponsoring Editor (Management Science):
Gustavo Manso - University of California, Berkeley

The sixth annual Entrepreneurial Finance and Innovation Conference (EFIC) was held on September 18, 19, and 20, 2015 at Brandeis International Business School. The conference was jointly sponsored by the Ewing Marion Kauffman Foundation and the Asper Center for Global Entrepreneurship at Brandeis International Business School. 

Papers submitted to the conference had the option to be considered for dual submission with Management Science. Selected papers that opted for dual submission went through the Management Science reviewing process, and if accepted, were published in an issue of Management Science.

The aim of this conference was to bring to the forefront issues related to the financing of entrepreneurial firms and small businesses and the financing of innovation. The conference explored various institutional, legal, and financial sector developments that affect the creation of firms, their rate of success, the dynamism of incumbent firms, and their contribution to innovation and economic development. The conference focused on understanding the role of entrepreneurs, various intermediaries, institutional investors, and new developments related to the financing of entrepreneurial firms and innovation. 

The conference covers reasonable travel expenses including airfare (up to a maximum of $550) and accommodation for the presenting authors. All papers on the program are be considered for the Asper Best Paper Award for $1,000. 

Submissions for the 2015 conference are now closed. 


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.

As part of an effort to understand new avenues of financing for entrepreneurs, of special interest would be research focusing on alternative channels of financing for innovation and new firm creation, such as angel financing, crowdfunding (including AngelList syndicates or "circles"on CircleUp), seed funds and venture funds from programs such as YCombinator and Techstars, and the impact of accelerators and other types of training programs on entrepreneurship and innovation. Policy evaluation of recent regulatory changes that have led to the development of such new avenues of entrepreneurial finance and comparison of institutional, legal (especially contractual), and market structures that could foster and spur further development of policy related to entrepreneurial finance are particularly welcome, including the JOBS Act. Authors of such paper will also have the option to have their papers considered for dual submission with Management Science. In addition, papers presented on such topics that are selected by Management Science or included in an edited volume published by the Kauffman Foundation will be provided a research honorarium of $5,000.

While both theoretical papers and empirical papers using any relevant data source are welcome, submission of papers using microdata (for example, data from crowdfunding platforms, the Kauffman Firm Survey, Census datasets such as the ILBD, LBD, LEHD, LRA and SBO, as well as other microdata such as the 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 encouraged.

Reasonable domestic travel expenses including airfare (max. $550) and accommodation for the presenting authors will be borne by the conference.


The Asper Center for Global Entrepreneurship at Brandeis International Business School will 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
Michael Ewens - California Institute of Technology
Thomas Hellmann - University of British Columbia
William Kerr - Harvard University
Karthik Krishnan - Northeastern University
Josh Lerner - Harvard University
Evgeny Lyandres - Boston University
Aldo Musacchio - Brandeis University
Ramana Nanda - Harvard University
Vikram Nanda - Rutgers University
Matthew Rhodes-Kropf - Harvard University
Alicia Robb - Kauffman Foundation
David Robinson - Duke University
Morten Sorensen - Columbia University
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 Anthem Media Group and the former president of CanWest Global Communications, Canada's largest media conglomerate.

Supported by:
Ewing Marion Kauffman Foundation,
Asper Center for Global Entrepreneurship at Brandeis IBS