We present theoretical and experimental results on the scaling properties o
f bipolar cascade vertical-cavity surface-emitting lasers with respect to a
ctive region stacking and out-coupling mirror reflectivity. The measurement
results at around 980-nm wavelength confirm the theoretically expected beh
avior of an almost linear increase in slope efficiency and a reduction in t
hreshold current density with the number of stages. A three-stage laser sho
ws a differential quantum efficiency of 128% in continuous-wave operation a
t room temperature. For the threshold current density, we obtain a decrease
from 3.75 kA/cm(2) for the conventional VCSEL to about 1.2 kA/cm(2) for a
three-stage device. Such multi-diode cascade VCSELs are highly interesting
for optical links, analog systems, and high-power applications.