Using an agency framework, this paper examines advantages of offering venture capitalists a choice between public equity and loan schemes. Both schemes can be used to promote venture capital investments in hightechnology enterprises since they encourage inexperienced venture capitalists to...

This paper examines the impact of venture capitalistsÂ’ reputation building and experience accumulation on the genesis of venture capital markets. Venture capitalists must accumulate experience to successfully support high-technology enterprises. They must build reputation, i.e., a track...

This paper analyses the impact of public equity schemes on venture capitalistÂ’s incentives to finance start-up enterprises and to support the management teams. In a double-sided moral hazard model, it is shown that experienced venture capitalists, who have already financed start-up...

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 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...

The authors use information gathered from 122 studies on the effects of high school diplomas on wages in different countries worldwide to carry out a meta-analysis that shows high school diplomas have a statistically significant effect on wages of nearly 8 percent. This effect varies whether the...

This study uses Monte Carlo analysis to investigate the performances of five different meta-analysis (MA) estimators: the Fixed Effects (FE) estimator, the Weighted Least Squares (WLS) estimator, the Random Effects (RE) estimator, the Precision Effect Test (PET) estimator, and the Precision...