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Evolution of decision and control rights in venture capital contracts: an empirical analysis

Bienz, Carsten; Walz, Uwe - London School of Economics (LSE) - 2006

superfluous operational rights to entrepreneurs, they gain (valuable) exit rights during the course of the relationship. Second …

Persistent link: https://www.econbiz.de/10010745436

The dynamics of venture capital contracts

Bienz, Carsten; Hirsch, Julia - London School of Economics (LSE) - 2005

predictability of the development process. To be more precise, parties choose the more complete contracts the lower the entrepreneur’s …

Persistent link: https://www.econbiz.de/10010746202

Block-booking and IPO share allocation: the importance of being ignorant

Gondat-Larralde, Celine; James, Kevin R. - London School of Economics (LSE) - 2004

Given the opportunity to buy IPO shares of uncertain value at a fixed price, potentially informed investors have an incentive to refuse to participate in offerings the underwriter happens to overprice. We show that an underwriter can efficiently resolve this problem by entering into a repeat...

Persistent link: https://www.econbiz.de/10010745055

IPO underpricing during the boom: a block-booking explanation

James, Kevin R. - London School of Economics (LSE) - 2004

A bank can efficiently underwrite individually difficult to value IPOs by offering them as a package deal to a stable coalition of investors (block-booking). Block-booking banks set offer prices to equalize downside risk across their offerings, not expected returns. Examining US IPOs over the...

Persistent link: https://www.econbiz.de/10010745328

Borrow cheap, buy high?: the determinants of leverage and pricing in buyouts

Axelson, Ulf; Jenkinson, Tim; Strömberg, Per; … - London School of Economics (LSE) - 2012

Private equity funds pay particular attention to capital structure when executing leveraged buyouts, creating an interesting setting for examining capital structure theories. Using a large, detailed, international sample of buyouts from 1980-2008, we find that buyout leverage is unrelated to the...

Persistent link: https://www.econbiz.de/10011071252

Does cultural diversity help innovation in cities: evidence from London firms

Lee, Neil; Nathan, Max - London School of Economics (LSE) - 2011

London is one of the world’s major cities, and one of its most diverse. London’s cultural diversity is widely seen as a social asset, but there is little hard evidence on its importance for the city’s businesses. Theory and evidence suggest various links between urban cultural diversity...

Persistent link: https://www.econbiz.de/10010745829

Entrepreneurship: can the Jack-of-all-trades attitude be acquired?

Silva, Olmo - London School of Economics (LSE) - 2004

Entrepreneurs are believed to be the ultimate engine of modern economic systems. Yet, the study of entrepreneurship …-of-All-Trades (JATs), have a high probability of becoming entrepreneurs. In this paper, I investigate whether the JAT Attitude is just an … innate ability or a skill that can be trained to enhance individuals’ chances of becoming entrepreneurs. Using panel …

Persistent link: https://www.econbiz.de/10010746173

Foreign direct investment and domestic entrepreneurship: blessing or curse?

Estrin, Saul; Hülya Danakol, Seçil; Reynolds, Paul; … - London School of Economics (LSE) - 2014

between FDI and entrepreneurship; positive spillovers via dissemination of technology or negative because of crowding out. Our … entrepreneurship in aggregate and intra-industry to be negative. Policies need to consider how to counteract this effect. …

Persistent link: https://www.econbiz.de/10011126345

Ethnic inventors, diversity and innovation in the UK: evidence from patents microdata

Nathan, Max - London School of Economics (LSE) - 2011

Ethnic inventors play important roles in US innovation systems, especially in high-tech regions like Silicon Valley. Do ‘ethnicity-innovation’ channels exist elsewhere? This paper investigates, using a new panel of UK patents microdata. In theory, ethnicity might affect positively innovation...

Persistent link: https://www.econbiz.de/10011126072

Here be startups: exploring a young digital cluster in inner East London

Nathan, Max; Vandore, Emma - London School of Economics (LSE) - 2013

The digital industries cluster known as 'Silicon Roundabout' has been quietly growing in East London since the 1990s. Now rebranded 'Tech City', it is now the focus of huge public and government attention. National and local policymakers wish to accelerate the local area's development: such...

Persistent link: https://www.econbiz.de/10011126076