Universities manage their administrative and financial operations traditionally by meansof cost centres in the form of faculties, departments and divisions. In these cost centresfinancial performance is purely measured by comparing actual expenses with drawn upbudgets. During performance...

Venture capital is an important factor in the development of entrepreneurship and in the establishment of new, knowledge-and-technology-based companies. In transition economies, the intensity of equity investing is far behind the developed market economies, making the EU and individual...