Using a hand-collected sample of contracts and investment proposals from German venturecapital (VC) financing relationships, we find that experienced and or private law/independentVC firms rely to a lesser degree on debt financing and more on certain covenants in VC con-tracting even when we...

In this paper the relation between aggregate mutual fund flows and stock market returns isanalysed with respect to three issues. First, we study the relation between fund flows andlong-term realized returns (past, current and future). Second, we find out that fund flows arenot driven by...