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Conditional Allocation of Control Rights in Venture Capital Finance
Gebhardt, Georg; Schmidt, Klaus M. - Volkswirtschaftliche Fakultät, … - 2006
When a young entrepreneurial firm matures, it is often necessary to replace the founding entrepreneur by a professional manager. This replacement decision can be affected by the private benefits of control enjoyed by the entrepreneur which gives rise to a conflict of interest between the...
Persistent link: https://www.econbiz.de/10005157509
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Conditional Allocation of Control Rights in Venture Capital Finance
Gebhardt, Georg; Schmidt, Klaus M. - Volkswirtschaftliche Fakultät, … - 2006
When a young entrepreneurial firm matures, it is often necessary to replace the founding entrepreneur by a professional manager. This replacement decision can be affected by the private benefits of control enjoyed by the entrepreneur which gives rise to a conflict of interest between the...
Persistent link: https://www.econbiz.de/10005739673
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A Soft Budget Constraint Explanation for the Venture Capital Cycle
Gebhardt, Georg - Volkswirtschaftliche Fakultät, … - 2006
We explore why venture capital funds limit the amount of capital they raise and do not reinvest the proceeds. This structure is puzzling because it leads to a succession of several funds financing each new venture which multiplies the well known agency problems. We argue that an inside investor...
Persistent link: https://www.econbiz.de/10005614481
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This Time is Different, Again? The United States Five Years after the Onset of Subprime
Reinhart, Carmen; Kenneth, Rogoff - Volkswirtschaftliche Fakultät, … - 2012
We focus on four previous systemic financial crises that the United States has experienced since 1870. These include the crisis of 1873 (called the Great Depression until the 1930s), the 1893 crisis, the panic of 1907, and the Great Depression. Given that all of the earlier crises predate the...
Persistent link: https://www.econbiz.de/10011110861
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Processes of Migration in Latin America and the Caribbean (1950-2008)
Durand, Jorge - Volkswirtschaftliche Fakultät, … - 2009
, Latin America received migrants from Europe and the Middle East. As a result of economic change, political instability, and … less extend to Europe (i.e. Spain, Italy, and Portugal), and in some cases to Japan as it is the case of Peru and Brazil …
Persistent link: https://www.econbiz.de/10008559028
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A Comparison of the Undergraduate Economics Major in Europe and in the United States
Monteiro, Henrique; Ferreira Lopes, Alexandra - Volkswirtschaftliche Fakultät, … - 2006
offered as electives. We find striking differences between the USA and Europe, especially regarding the nature of the main … departments of Europe and the United States. We identify the fundamental courses usually included in an Economics major by means …
Persistent link: https://www.econbiz.de/10005620087
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The Great Recession: a comparison of recession magnitudes in Europe, USA and Japan
Mazurek, Jiří - Volkswirtschaftliche Fakultät, … - 2013
In this article recession magnitudes in Europe, the USA and Japan during the Great Recession are compared. The … strongest recessions (of severe category) occurred in Latvia, Lithuania and Estonia, while recessions in Japan and the USA were …-1933 in the USA. Hence, comparisons of the Great Recession to the Great Depression in the literature are somewhat exaggerated. …
Persistent link: https://www.econbiz.de/10011258149
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PKB a upadłość
Staszkiewicz, Piotr W. - Volkswirtschaftliche Fakultät, … - 2013
The correlation analysis was conducted on dynamic of GDP and company failure rate for Poland, Europe and USA for the …
Persistent link: https://www.econbiz.de/10011259056
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Economie du Développement Durable et Economie Sociale et Solidaire: des relations complexes pour des enjeux majeurs
Akhabbar, Amanar; Swaton, Sophie - Volkswirtschaftliche Fakultät, … - 2011
Social Economy and Sustainable economics are two independent fields that sometimes refer one to another. The former is primarily concerned with “social capital” issues, while the latter deal with “natural capital” stakes. When referring to the other field, there is no systematic analysis...
Persistent link: https://www.econbiz.de/10009368164
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Innowacje społeczne – nowy paradygmat czy kolejny etap w rozwoju kreatywności człowieka?
Kwasnicki, Witold - Volkswirtschaftliche Fakultät, … - 2013
An attempt is made to answer some important, controversial and provocative questions: What is social innovation? Do we need to distinguish 'social innovation' in the general category of innovation? To what extend 'social economy' and 'social innovation' can be considered as a new paradigm in the...
Persistent link: https://www.econbiz.de/10011185682