supposed role in corporate governance and industrial finance.Many discussions distort the German banking system by over …

Why does venture capital work in some countries but not in others? This clinical study of the first German venture … capital firm examines the difficulties of creating a venture capital market in a bank-based financial system. The analysis … of venture capital. …

A novel method is applied to evaluate the effect of capital constraints on entrepreneurial performance on a panel of 1 …,000 Dutch entrepreneurs. We find that initial capital constraints hinder entrepreneurs in their performance, even when we … control for various human capital and other factors that might affect both performance and credit scoring outcomes. We use a …

analysis of the consequences of privatization on corporate governance show that, notwithstanding considerable changes in the … structure of ownership and a sizeable contribution to capitalization and liquidity growth, the market for corporate control …

to small firms. Our model identifies the economic forces behind this trend. Small firms with little capital at risk are …

The social norm of unemployment suggests that aggregate unemployment reduces the well-being of the employed, but has a …

analyze the impact of the welfare state on the respective social norm, i.e. benefit morale. It turns out that a high level of … public social expenditures and a high unemployment rate are associated with a small positive (or no) immediate impact on … benefit morale, which however is crowded out by adverse medium and long run effects. -- welfare state ; social norms ; benefit …

We incorporate the concept of social identity into a stylized model of occupational choice and analyze whether an …