For decades suggestion systems have been used include employees in innovation process. However, in order to gather superior ideas, integrating external stakeholders is critical to the innovation process. Wwwithin this paper the authors derive a sophisticated model of an integrated idea...

Traditional principal agent theory interprets franchising as a solution to the agency problems associated with incentives and observability. Franchising has been viewed as an institution that aligns the right to make decisions with the residual claims deriving from these decisions. One problem...

This paper shows the advantages of staged investments for venture capitalists.

Based on representative data, the German Micro-Census, we provide an overview of thedevelopment of self-employment and entrepreneurship in Germany between 1991 and 2010,the first two decades after reunification. We investigate the socioeconomic background ofthese individuals, their education,...

We investigate the interdependence of debt financing and R&D activities of young firms.Using micro-level data of the KfW/ZEW Start-up Panel, our estimation results show that firmcharacteristics are more important than personal characteristics of the founders for explainingyoung firms’...

Drivers of entrepreneurial entry are investigated in this study by examining how entry intosmall-business ownership is shaped by industry-specific constraints. The human- andfinancial-capital endowments of potential entrepreneurs entering firms in various industriesare shown to differ...

The start-up team plays a key role in venture capitalists’ evaluations of venture proposals. Ourfindings go beyond existing research, first by providing a detailed exploration of VCs’ team evaluationcriteria, and second by investigating the moderator variable of VC experience. Our results...

This paper extends recent research studying biases in venture capitalist’s decision-making. Wecontribute to this literature by analyzing biases arising from similarity between a venture capitalist andmembers of a venture team. We summarize the psychological foundations of such similarity...

Storey (1994) reviews a number of socio-economic variables that have been widely hypothesised toimpact upon small business formation. These are:- population (change, density, age structure)unemployment, wealth, education, industrial structure, and public policy. These factors are consideredwith...

The world economy and the OECD countries in particular are currently undergoinga phase of rapid and fundamental economic changes. Countries that inthe post-war period have enjoyed strong comparative advantages (mainly) builton high quality production in the manufacturing sector, are now...