Yael Hochberg

Ralph S. O'Connor Professor in Entrepreneurship (Finance); Head, Rice University Entrepreneurship Initiative

Professor Hochberg's research and teaching interests are focused on entrepreneurship, innovation, and the financing of entrepreneurial activity. Her research focuses on the venture capital industry, accelerators, networks and corporate governance and compensation policies. In addition to her doctorate in finance from Stanford, she holds a B.Sc. in Industrial Engineering and Management from the Technion-Israel Institute of Technology and an A.M. in Economics from Stanford University. Her research has been published in top tier journals, including Science Magazine, the Journal of Finance, the Review of Financial Studies, the Journal of Accounting Research, and the Journal of Financial Economics, and has been presented at numerous universities and governmental bodies around the world. She is an Associate Editor at the Journal of Banking and Finance and the Journal of Empirical Finance, and previously served as an Associate Editor at the Review of Finance.

Prof. Hochberg serves as the Head of the Entrepreneurship Initiative at Rice University and as Academic Director of the Rice Alliance for Technology and Entrepreneurship.

She holds a Research Affiliate position with MIT’s Sloan School of Management and is a Research Associate at the National Bureau of Economic Research. Prof. Hochberg is also Managing Director of the Seed Accelerator Rankings Project, which publishes the annual ranking of accelerator programs in the U.S.

Prior to her appointment at Rice, Prof. Hochberg was previously on the (tenure track) faculty at the Kellogg School of Management at Northwestern University and the Johnson School of Management at Cornell University, and was a visiting faculty member at the MIT Sloan School of Management. She is currently a visiting faculty member at University of Chicago’s Booth School of Business. Previously, she was employed in the technology industry in both larger and startup companies. She serves on the advisory board and board of directors for a number of early stage startups. In 2015, she was named one of the world’s 40 under 40 best business school professors by Poets and Quants. In 2016, she was awarded the Ewing Marion Kauffman Prize Medal for Distinguished Research in Entrepreneurship.

For more information on the Rice University entrepreneurship Initiative, visit entreprenuership.rice.edu.

Teaching Interests: 

-Entrepreneurship
-Innovation
-Financing of entrepreneurial activity

Research Interests: 

-Venture Capital
-Entrepreneurship and Innovation
-Organizational Networks
-Ecosystems

Intellectual Contributions

Working Paper

Andonov, A., Hochberg, Y. V., & Rauh, J.D. (2047). Political Representation and Governance: Evidence from the Investment Decisions of Public Pension Funds. Rock Center for Corporate Governance at Stanford University Working Paper Series, 226. http://dx.doi.org/10.2139/ssrn.2754820

Working Paper

Hochberg, Y. V., Serrano, C. J., & Ziedonis, R. H. (Forthcoming). Patent Collateral, Investor Commitment, and the Market for Venture Lending. Journal Of Financial Economics. http://dx.doi.org/10.2139/ssrn.2506911

Journal Article

Hochberg, Y. V. & Muhlhofer, T. (2011). Market Timing and Investment Selection: Evidence from Real Estate Investors. doi: 10.2139/ssrn.178580

Working Paper

Hochberg, Y. V. & Fehder, D. (2015). Accelerators and Ecosystems. Science, 348(6240),1202-1203. DOI: 10.1126/science.aab3351

Working Paper

Hochberg, Y. V. (2016). Accelerating Entrepreneurs and Ecosystems: The Seed Accelerator Mode. Innovation Policy and the Economy, 16(1), 25-51. https://doi.org/10.1086/684985

Journal Article

Hochberg, Y. V., Mazzeo, M. J., & McDevitt, R. C. (2015). Specialization and Competition in the Venture Capital Industry. Review of Industrial Organization, 46(4), 323 - 347. https://doi.org/10.1007/s11151-015-9462-3

Working Paper

Hochberg, Y. V., Ljungqvist, A., & Vissing-J√łrgensen, A. (2014). Informational holdup and performance persistence in venture capital.¬†Review of Financial Studies,¬†27(1), 102-152. doi:10.1093/rfs/hht046

Journal Article

Hochberg, Y. V. (2012). Venture capital and corporate governance in the newly public firm. Review of Finance, 16(2), 429-480. doi:10.1093/rof/rfr035

Journal Article

Hochberg, Y. V., & Lindsey, L. (2010). Incentives, targeting, and firm performance: An analysis of non-executive stock options. Review of Financial Studies, 23(11), 4148-4186. doi:10.1093/rfs/hhq093

Journal Article

Hochberg, Y. V., Ljungqvist, A., & Lu, Y. (2007). Whom You Know Matters: Venture Capital Networks and Investment Performance.¬†Journal of Finance,¬†62(1), 251‚Äď301. doi:10.1111/j.1540-6261.2007.01207.x