Since the introduction of the European CO2 emissions trading system (EU ETS), the development of CO2 allowance prices is a new risk factor for enterprises taking part in this system. In this paper, we analyze how risk emerging from emissions trading can be considered in the stochastic profit and...

This paper explores theoretically and empirically potentially important yet often-neglected linkage between task coordination within the organization and the structure of organization and bundling of HRMPs (Human Resource Management Practices). In so doing, we also provide fresh insights on the...

This paper shows that taxes which are understood to be neutral with respect to the marginal investment decisions may be distortionary with respect to entrepreneurial decisions. In particular, we apply an intertemporal model to show that a comprehensive income tax is distortionary unless all...

In this paper we develop a quantitative model of entrepreneurial activity (risk-taking) and consumer bankruptcy choices and use the model to study the effects of bankruptcy regulations on entrepreneurial activity, bankruptcy rate and welfare. We show that eliminating bankruptcy exemptions leads...

This study focuses on the non-financial value-added of venture capital investors (VCs) as perceived by the CEOs of Finnish biotechnology companies. It pays attention to differences in the value-added between informal venture capitalists, private sector venture capitalists and public sector...

The paper reports an empirical study on the non-financial value-added provided by Venture Capital investors to their investee firms. This study will use a four-class grouping of the various non-financial value-adding capabilities provided by VC firms, namely, scouting, monitoring, signalling and...