This article analyzes the exit decision in the European venture capital market, studying when to exit and how it interacts with the exit form. The paper emphasizes the impact of asymmetric information on the divestment decision. Our model considers the impact of caracteristics of the venture...

This paper estimates von Neumann andMorgenstern utility functions comparing the generalized maximum entropy (GME) with OLS, using data obtained by utility elicitation methods. Thus, it provides a comparison of the performance of the two estimators in a real data small sample setup. The results...

Este artigo analisa as saídas de investimentos de capital de risco em Portugal, abordando a relação existente entre as formas de saída e a assimetria de informação a elas associadas. A hipótese central é a de que a ocorrência de saídas parciais está associada à sinalização da...

This study identifies the importance assigned to the various criteria used by the Portuguese Venture Capitalists (VCs) to evaluate and select early stage venture capital projects. The data was collected through a questionnaire answered by 20 Portuguese VCs. We use descriptive statistics...

This article analyzes the determinants of the European venture capital market, extending the equilibrium model from Jeng and Wells (2000). Our empirical model includes many of the determinants already tested in previous studies. In addition, we test whether the unemployment rate, the trade sale...

This paper aims to provide evidence supporting the following: that recent theoretical, empirical and methodological advances in microeconomics are decisive to the progress of marketing science. That such a notion is not yet mainstream and uncontroversial, we contend, is more due to insufficient...

This paper discusses a model where consumers simultaneously differ according to one unobservable (preference for quality) and one observable characteristic (location). In these circumstances nonlinear prices arise in equilibrium. The main question addressed in this work is whether firms should...

We consider a two-period framework where a multimarket incumbent firm faces, in one of the markets, a single potential entrant offering a differentiated product. The incumbent has private information about his production cost and may use both pre-entry prices as predatory signals. We find...

We extend the analysis of the impact of firms' pricing policies upon entry to a framework where price competition and differentiated products are present. We consider a model where an incumbent serves two distinct and independent geographical markets and an entrant may enter in one of the...

This paper endogeneizes the level of market coverage in a vertically differentiated market where firms decide first their qualities and next their prices. We extend the few endogeneization results to a more realistic setup, with quality dependent unit production costs. We show that, depending on...