Choking the Recovery
ETFs are radically changing the markets, to the point where they, and not the trading of the underlying securities, are effectively setting the prices of stocks of smaller capitalization companies, or the potential new growth companies of the future.
ETFs and the Present Danger to Capital Formation
Mr. Chairman and members of the Subcommittee, thank you for giving me the opportunity to testify today about ETFs and the public policy challenges they pose. I have prepared this written testimony with my colleague at the Kauffman Foundation, Robert Litan, who is Vice President for Research and Policy. I am Chief Investment Officer of the Foundation. Both of us draw in this testimony on prior studies we have done on the growing ETF market, by ourselves and with experts in securities settlements. But we offer here supplemental information, which we hope will be of use to this Committee. I will be delivering an oral summary of this testimony at the hearing.
Expeditionary Economics is an emerging area of economic inquiry focused on rebuilding economies in post-conflict nations, including Iraq and Afghanistan.
External Debt Markets Increasingly Relied On for Funding by Young Firms as They Age, According to Kauffman Foundation Study
Now in its fifth year of data collection, the world's largest longitudinal survey of new businesses consistently confirms that external debt markets become increasingly important as startup firms survive and grow in their early years.
Finding Business Idols
While some pundits may be declaring the demise of the early stage VCs, some VCs and
angel investors are already displaying interest in a new form of contest-based
accelerator model of picking and grooming the next wave of potentially high growth
Kauffman Economist Explains Health Care Cures on MSNBC
Robert Litan discusses the new Kauffman report, Valuing Health Care: Improving Productivity and Quality, on MSNBC's The Dylan Ratigan Show.
Kauffman Foundation Experts' Solution for University Technology Licensing Reform Named to List of 'Ten Breakthrough Ideas for 2010' by Harvard Business Review
Creating an open, competitive licensing system for university innovators is one of Harvard Business Review's
"Ten Breakthrough Ideas for 2010" and the brainchild of researchers at
the Ewing Marion Kauffman Foundation. The free agency solution is one
of the 10 ideas that HBR says "will make the world better."
Law and Economics, 2.0
Robert E. Litan, Ph.D., Vice President, Research and Policy, responds to the questions: How much law, and what kinds of law, are essential for innovation and
growth? And what laws or legal institutions may inhibit both?
New Report From Milken Institute and Kauffman Foundation Examines Back-to-Basics Solutions to Address Shortfalls in State and Municipal Budgets
Cutting back on services and increasing taxes won't be enough to stabilize state and municipal finances, even when the economy fully recovers. According to a new report from the Milken Institute and the Ewing Marion Kauffman Foundation, it's going to require real paradigm shifts: a fundamental restructuring of budgets and the entire budgeting process, sustainable revenue generation, new efficiencies and federal/state partnerships.
Proposed Bill's Provisions Introduce Road Blocks for Angel Investors
Just say no to Section 926 of the comprehensive financial reform bill outlined by Senate Banking Committee Chairman Senator Dodd, says Kauffman Foundation Vice President Robert Litan.
Transition to Entrepreneurial Capitalism
is a growing body of evidence that innovation-driven productivity growth has
been made possible by a deep change in the structure of the American economy
itself—a decades-long transition from what we term the era of managerial
capitalism to today's era of entrepreneurial capitalism.
University of Texas School of Law to Honor Kauffman Foundation Economist Robert E. Litan
The University of Texas School of Law will honor Kauffman Foundation Vice President of research and policy, Robert E. Litan, as the inaugural recipient of the $50,000 Massey Prize for Research in Law, Innovation, and Capital Markets. Litan will speak and be honored at the Massey Prize Symposium on Friday, Nov. 11, 2011, at the University of Texas School of Law.