Sentiment indices based on investor sentiment surveys attempt to measure the stock market sentiment. The literature on these indices focusses mainly on whether investor sentiment influences the financial markets or not. But the term 'sentiment' has never been defined in the literature. Therefore...

This study identifies five distinctive stages of the current global financial crisis: the meltdown of the subprime mortgage market; spillovers into broader credit market; the liquidity crisis epitomized by the fallout of Northern Rock, Bear Stearns and Lehman Brothers with counterparty risk...

This paper offers a quantitative description of European private equity markets and compares the recent development in these markets with the development of the US venture capital market. Moreover, the paper addresses the differences between private equity investors acting in a single national...

The relationship between a venture capitalist and an entrepreneur is modeled to investigate the impact of public subsidies on venture capital investments in start-up enterprises. In this model, the venture capitalist only finances start-up enterprises if he has sufficient expertise to make...

This paper surveys empirical and theoretical studies of various control mechanisms embedded in venture capital contracts. These mechanisms mitigate incentive problems and opportunistic behavior arising in the uncertain environment of financing young high-technology enterprises that predominantly...

This paper analyses the link between venture capitalists’ sources of funds, such as banks and pension funds, and the specialization pattern of venture capital investments in particular industries and particular stages of enterprises’ development. Based on a panel data set of Western European...

Although there is a host of literature on the locational choice of traditional economy firms, relatively little is known about the locational needs and preferences of new economy firms. Therefore, the current paper provides an empirical analysis of the factors determining the regional...

The paper analyzes the impact of information asymmetries between intermediaries and savers in open economies in a stochastic model that uses computer simulation. The model features two sectors producing two types of consumer goods and two sectors producing two typos of intermediate inputs (soft...

In der vorliegenden Arbeit wird ein Modell beschrieben, mit dem Ungleichverteilungen von VC untersucht werden. Im Zentrum stehen zwei Hypothesen: Die Spezialisierungshypothese, nach deren Aussage kein stattlicher Eingriff erforderlich ist, und die Hypothese der ineffizienten...

This article explores the influence of competitive conditions on the evolutionary fitness of risk preferences, using the professional competition between fund managers as a practical example. To explore how different settings of competition parameters, the exclusion rate and the exclusion...