Jeffrey Sohl

Professor and Director of the Center for Venture Research
Phone: 
603.862.3373
Email: 
Office: 
Paul College 360N
Jeffrey

[For complete list, please download June 2017]

Fields of Specialization

Early stage equity financing of high growth ventures, trends in the angel market, entrepreneurship

Education

Ph.D., University of Maryland
M.B.A., University of Maryland
B.E., Villanova University

Recent Research

Journal Publications:

“Entrepreneurial Firms and Financial Attractiveness for Securing Debt Capital: A Bayesian Analysis” (with Tevfik Aktekin and Dev Dutta), Venture Capital: An International Journal of Entrepreneurial Finance. Published online June 12, 2017.

“New Venture Legitimacy: the Conditions for Angel Investors” (with John Becker-Blease), Small Business Economics: An Entrepreneurial Journal, Vol. 45, No. 4, December 2015, pgs. 735-749.

“Do Entrepreneurship and High Tech Concentration Create Jobs? Exploring the growth in employment in U.S. metropolitan areas from 1991 to 2007” (with Ross Gittell and Edinaldo Tebaldi), Economic Development Quarterly, May 16, 2014.

“Initial Public Offerings and Pre-IPO Shareholders: Angels Versus Venture Capitalists” (with William Johnson), Journal of Developmental Entrepreneurship, Vol. 17, No. 4, 2012.

“Angels and venture capitalists in the IPO market” (with William Johnson), Venture Capital: An International Journal of Entrepreneurial Finance, Vol. 14, No. 1, January 2012, pgs. 27-42.

“Mitigating the Limited Scalability of Bootstrapping Through Strategic Alliances to Enhance New Venture Growth” (with Pankaj Patel and James Fiet), International Small Business Journal, Vol. 29, No. 5, 2011, pgs. 421-447.

“The Effect of Gender Diversity on Angel Group Investment” (with John Becker-Blease), Entrepreneurship Theory & Practice, Vol. 35, No. 4, 2011, pgs. 709-733.

“Women Business Angels: Insights from Angel Groups” (with Laura Hill), Venture Capital: An International Journal of Entrepreneurial Finance, Vol. 9, No. 3, 2007, pgs. 207-222.

“Do women-owned businesses have equal access to angel capital?” (with John Becker-Blease), Journal of Business Venturing, Vol. 22, No. 4, 2007, pgs. 503-521.

“Angel Investing: Changing Strategies During Volatile Times”, Journal of Entrepreneurial Finance and Business Ventures, Vol. 11, No. 2, 2006, pgs. 27-47.

“Technology centers during the economic downturn: What have we learned?” (with Ross Gittell), Entrepreneurship & Regional Development, Vol. 17, No. 4, 2005, pgs. 293-312.

“Women entrepreneurs securing business angel financing: tales from the field” (with Frances Amatucci), Venture Capital: An International Journal of Entrepreneurial Finance, Vol. 6, No. 2/3, 2004, pgs. 181-196.

“Leveraging Intellectual Property in the Financing of Entrepreneurial Ventures: A Technology-based Solution to the Perfection of Security Interests” (with John Freear and A.R. Venkatachalam), International Journal of Entrepreneurship and Innovation Management, Vol. 4, No. 2/3, 2004, pgs. 178-193.

“Imperatives for Venture Success: Entrepreneurs Speak” (with Frederick Crane), The International Journal of Entrepreneurship and Innovation, May 2004, pgs. 99-106.

“The private equity market in the USA: lessons from volatility”, Venture Capital: An International Journal of Entrepreneurial Finance, Vol. 5, No. 1, 2003, pgs. 29-46.

“The US Angel and Venture Capital Market: Recent Trends and Developments”, Journal of Private Equity, Vol. 6, No. 2, 2003, pgs. 7-17.

“Angles on Angels: Financing Technology-Based Ventures An Historical Perspective” (with John Freear and William Wetzel), Venture Capital: An International Journal of Entrepreneurial Finance, Vol. 4, No. 4, 2002, pgs. 275-287.

“The Private Equity Market Gyrations: What has been Learned?” Venture Capital: An International Journal of Entrepreneurial Finance, Vol. 4, No. 4, 2002, pgs. 267-274.

“Market Transactions and Model Legal and Technological System Structure” (with John Freear and A. R. Venkatachalam) in “Proposal for a Centralized and Integrated Registry for Security Interests in Intellectual Property” (William Murphy), IDEA: The Journal of Law and Technology, Vol. 41, Nos. 3 & 4, 2002, pgs. 297-604.

“The Characteristics and Value-Added Contributions of Private Investors to Entrepreneurial Software Ventures” (with John Freear), Journal of Entrepreneurial Finance, Vol. 6, No. 1, 2001, pgs. 84-103.

“An Intelligent Model Selection and Forecasting System” (with A.R. Venkatachalam), Journal of Forecasting, Vol. 18, 1999, pgs. 167-180.

“The Early Stage Equity Market in the United States”, Venture Capital: An International Journal of Entrepreneurial Finance, Vol. 1, No. 2, 1999, pgs. 101-120.

“Habitual Entrepreneurs and Angel Investors” (with Paul Westhead and Michael Wright), Entrepreneurship Theory and Practice, Vol. 22, No. 4, 1998, pgs. 5-21.

“Investing in Neighborhood Entrepreneurs: Private Foundations as Community Development Venture Capitalists” (with Ross Gittell and Philip Thompson), Entrepreneurial and Small Business Finance, Vol. 5, No. 2, 1996, pgs. 175-191.

“A Neural Network Approach to Forecasting Model Selection” (with A.R. Venkatachalam), Information and Management, Vol. 29, 1995, pgs. 297-303.

“Angels: Personal Investors in the Venture Capital Market” (with John Freear and William Wetzel), Entrepreneurship and Regional Development, Vol.7, 1995, pgs. 85-94 (Reprinted in Venture Capital, Dartmouth Publishing Co., Hampshire, England, 1997).

"Small Firms and Superfund: Assessing the Impact" (with William Wetzel), Journal of Small Business Finance, Vol. 3, No. 2, 1994, pgs. 141-157.

"The Private Investor Market for Venture Capital" (with John Freear and William Wetzel), The Financier, Vol. 1, No. 2, May, 1994, pgs. 7-15 (Reprinted in IEEE Engineering Management Review, Vol. 22, No. 3, Fall 1994).

"Superfund's Impact on Small Firms' Investment Decisions" (with William Wetzel), Balancing Economic Growth and Environmental Goals, Monograph Series on Tax and Environment Policies and U.S. Economic Growth, Center for Policy Research, American Council for Capital Formation, Washington, D.C., May, 1994, pgs. 93-115.

"Angels and Non-Angels: Are There Differences?" (with John Freear and William Wetzel), Journal of Business Venturing, Vol. 9, No. 2, March, 1994, pgs. 109-123 (reprinted in Westhead, P. and Wright, M (Eds), Advances in Entrepreneurship, (Edward Elgar Publishing: Great Britain), pgs. 520-534, September 2000).

"Strategic Diversity in Labor PAC Contribution Patterns," (with Richard Hurd), Social Science Journal, Vol. 29, No. 1, January, 1992, pgs. 65-86.

"Disaggregation Methods to Expedite Product Line Forecasting," (with Charles Gross), Journal of Forecasting, Vol. 9, No. 3, May-June, 1990, pgs. 233-254.

"Quantifying Risk in Cash Management Services," (with James Husband), Bank Administration, Vol. LXV, No. 8, August 1989, pgs. 30-35.

"Improving Smoothing Models With an Enhanced Initialization Scheme," (with Charles Gross), The Journal of Business Forecasting: Methods and Systems, Vol. 8, No. 1, Spring, 1989, pgs. 13-18.

"Corporate Political Action Committees' Strategies in the 1980 Congressional Elections," (with Allen Kaufman and Marvin Karson), Social Science Journal, Vol. 25, No. 3, 1988, pgs. 289-307.

"Corporate Factionalism and Corporate Solidarity in the 1980 and 1982 Congressional Elections," (with Allen Kaufman and Marvin Karson), Journal of Political and Military Sociology, Vol. 15, Fall, 1987, pgs. 171-186.

"An Application of Quadratic Programming to the Deregulation of Natural Gas," in Spatial Price Equilibrium: Advances in Theory, Computation, and Application, P. Harker, ed., New York: Springer-Verlag, 1985, pgs. 196-207.

Book Chapters:

“The Changing Nature of the Angel Market” Handbook of Research on Venture Capital: Volume 2, Hans Landstrom and Colin Mason, eds., Edward Elgar Publishers: UK, October 2012, pgs. 17-41.

“Angles on Angels and Venture Capital: Financing Entrepreneurial Ventures” (with John Freear) Financing Economic Development in the 21st Century, 2nd Edition, Z. Kotval and S. White, eds., M.E. Sharpe, Inc: NY, August 2012, pgs. 224-244.

“The Organization of the Informal Venture Capital Market”, Handbook of Research on Venture Capital, Hans Landstrom ed., Edward Elgar Publishers: UK, October 2007, pgs. 347-368.

“Business Angels: Investment Processes, Outcomes and Current Trends” (with Frances Amatucci), Entrepreneurship: The Engine of Growth, Volume II: The Process, A. Zacharakis and S. Spinelli, eds., Praeger Perspectives, Greenwood Publishing Group: CT, November 2006, pgs. 87-107.

“Angel investing: a market perspective”, in State of the Art: An Executive Briefing on Cutting Edge Practices in American Angel Investing, J. May and E. O’Halloran, eds., Darden Business Publishing, Charlottesville, VA, 2003, pgs. 2-14.

“The Informal Venture Capital Market: Milestones Passed and the Road Ahead” (with John Freear and William Wetzel), Entrepreneurship 2000, D. Sexton and R. Smilor, eds., Upstart Publishing Company, Chicago, IL, 1997, pgs. 47-70.

“Business Fragmentation and Solidarity: An Analysis of PAC Donations in the 1980 and 1982 Elections” (with Allen Kaufman and Marvin Karson), Business Strategy and Public Policy: Perspectives from Industry and Academia, A. Marcus, A. Kaufman, and D. Beam, eds., Quorum Press, Westport, Ct., 1987, pgs. 119-135.

Current Research:

“Resource Acquisition in Strategic Factor Markets by High Growth Ventures: A Bayesian Perspective” (with Tevfik Aktekin and Andrew Earle), submitted to Strategy Science.

“The Timing of Initial External Financing for Entrepreneurial Ventures: a Bayesian Perspective” (with Tevfik Aktekin), working paper.

“Science Parks and Firm Performance: The Moderating Role of Endowments and Environmental Conditions” (with Khole Gwebu and Jing Wang), working paper.

“Acquisition as an entrepreneurial exit strategy: Role of signaling based on internal and external sources of organizational legitimacy” (with Tevfik Aktekin and Dev Dutta), working paper.