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Massimiliano Guerini
Polytechnic University of Milan
32Publications
10H-index
367Citations
Publications 32
Newest
#1Giancarlo Giudici (Polytechnic University of Milan)H-Index: 8
#2Massimiliano Guerini (Polytechnic University of Milan)H-Index: 10
Last.Cristina Rossi-Lamastra (Polytechnic University of Milan)H-Index: 16
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In this paper, we explore which local factors affect the creation of cleantech startups in a geographical area. Specifically, we note that these startups combine innovation and attention to the environment. Thus, we consider two primary sets of local factors: the availability of scientific and technological knowledge and the environmental awareness of local governments and communities as the main drivers of the creation of cleantech startups. Using a dataset of 393 cleantech startups created bet...
#1Niccolò Ghio (Polytechnic University of Milan)H-Index: 2
#2Massimiliano Guerini (Polytechnic University of Milan)H-Index: 10
Last.Cristina Rossi-Lamastra (Polytechnic University of Milan)H-Index: 16
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Abstract This paper investigates the interplay among three main elements of an entrepreneurial ecosystem: local universities, local financial system, and residents’ individual attitudes. Specifically, we study how the local availability of university knowledge interacts with the relative presence of cooperative banks in the local banking industry and with the residents’ tendency to behave opportunistically to determine the creation of high-tech ventures in a territory (i.e., Italian provinces). ...
#1Massimiliano Guerini (Polytechnic University of Milan)H-Index: 10
#2Francesca Tenca (Polytechnic University of Milan)H-Index: 2
This paper aims at providing novel evidence about the geographical concentration of venture capital (VC) activity in seven European countries. Drawing upon a unique dataset, VICO 2.0, we describe the geographical distribution of VC investments and VC-backed technology-intensive start-ups and analyse the regional and country-level factors associated to the regional concentration in VC activity. Results from econometric estimates suggest that regional VC activity is positively associated to the le...
#1Bianchi Mattia (HHS: Stockholm School of Economics)H-Index: 11
#2Giacomo Marzi (IBS: International Business School, Germany)H-Index: 3
Last.Massimiliano Guerini (Polytechnic University of Milan)H-Index: 10
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Abstract This exploratory study investigates the relationship of plan-driven Stage-Gate and flexible Agile models with new product development performance through an original conceptualization that focuses on their underlying principles for managing uncertainty and the resulting changes. While Stage-Gate attempts to control uncertainty up-front to avoid later changes, Agile seeks to adapt to uncertainty and accommodate changes for a longer proportion of the development process. In addition, we e...
In this paper, we investigate what drives the performance of high-tech start-ups receiving angel financing, while taking a closer look at the capabilities (i.e., experience) and investment behavior of business angels (BAs). We exploit a new data set (extracted from Crunchbase), which consists of 1,933 high-tech start-ups that received at least one financing round from a BA. The results indicate that the experience of BAs in early stage investments is positively associated with additional receipt...
#1Giancarlo Giudici (Polytechnic University of Milan)H-Index: 8
#2Massimiliano Guerini (Polytechnic University of Milan)H-Index: 10
Last.Cristina Rossi-Lamastra (Polytechnic University of Milan)H-Index: 16
view all 3 authors...
Despite the omnipresent reach of the Internet, evidence exists that geography matters in crowdfunding. This paper shows that some salient characteristics of the geographical area in which entrepreneurs reside affect the success of the crowdfunding projects they propose. Specifically, we theoretically discuss and empirically document that the altruism of people residing in the area (i.e., local altruism) increases the likelihood of success. Moreover, the strength of this effect depends on the lev...
#1Niccolò Ghio (Polytechnic University of Milan)H-Index: 2
#2Massimiliano Guerini (Polytechnic University of Milan)H-Index: 10
Last.Cristina Rossi-Lamastra (Polytechnic University of Milan)H-Index: 16
view all 3 authors...
Grounding on the Knowledge Spillover Theory of Entrepreneurship, this paper advances research on innovative start-ups by studying whether and how university knowledge fosters the creation of these firms at the local level. First, we contend that geographical proximity shapes the impact of university knowledge on the creation of innovative start-ups in a geographical area. In other words, in this context, university knowledge spillovers are highly localized. Second, we argue that the availability...
#1Massimiliano Guerini (Polytechnic University of Milan)H-Index: 10
#2Anita Quas (EMLYON Business School)H-Index: 5
This paper investigates the screening and certification abilities of government-managed venture capital (GVC) firms in Europe. Using a sample of European high-tech entrepreneurial companies, we show that GVC funding increases the likelihood that companies will receive private venture capital (PVC). Moreover, GVC-funded companies that have received a first round of PVC are at least as likely as other PVC-backed companies to receive a second round of PVC or to be listed or acquired. After ruling o...
#1Gary Dushnitsky (UPenn: University of Pennsylvania)H-Index: 14
#2Massimiliano Guerini (Polytechnic University of Milan)H-Index: 10
Last.Cristina Rossi-Lamastra (Polytechnic University of Milan)H-Index: 16
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While the crowdfunding phenomenon has attracted considerable practitioner and scholarly attention, existing research predominantly reflects a U.S.-centric perspective. This article examines crowdfunding platform creation in 15 European countries. Despite the omnipresent reach of the internet, national boundaries shape the evolution of the European crowdfunding industry. Specifically, crowdfunding platform creation varies across countries and distinct national patterns emerge for crowdfunding act...
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