The most fundamental form of systemic risk in modern financial networks is contagion. In this article we describe a homogeneous banking system (banks with identical preferences and the same size of total assets) with interconnectedness: banks own shares in each others' assets. Using these...

The most fundamental form of systemic risk in modern financial networks is contagion. In this article we describe a homogeneous banking system (banks with identical preferences and the same size of total assets) with interconnectedness: banks own shares in each others' assets. Using these...

In this paper we investigate the relationship between sustainability and economic growth starting from Stern (2006) which is the first comprehensive analysis of the global warming from economic point of view. We also discuss the critical debate of this study which was focused mainly on the...

In this paper we investigate the relationship between sustainability and economic growth starting from Stern (2006) which is the first comprehensive analysis of the global warming from economic point of view. We also discuss the critical debate of this study which was focused mainly on the...

In the last decade the ownership structure of Australia's life insurance industry has undergone a fundamental change. Traditionally, the sector had been dominated by a group of large mutual associations which had historically been the market leaders. In the space of less than a decade, this form...

A gazdasági szereplõk nem-racionális magatartására vonatkozó gazdasági viselkedéstani kutatási eredmények értelmezése és a megfelelõ következtetések megfogalmazása kellõ körültekintést igényel: a neoklasszikus elmélet életszerûtlen emberképének meghaladása nem...

The entire venture capital sector of Central and Eastern Europe is characterised by the increased weight of state resources. The strengthening of public activities is mainly due to the new type of equity schemes introduced in the European Union's 2007 to 2013 programming period, which allowed...

A double nature characterizes the behavior of the government in the venture capital market: a fear of systemic risk and the desire to stimulate companies with growth potential. It seems that the fear might be a bit excessive, disproportionately restricting the effects of venture capital in the...

While in Western Europe the venture capital and private equity industry have mostly got over the shock of the crisis, the Central and East-European region in 2013 still showed a tendency of deterioration. Signs of recovery could not be perceived neither in fundraising, investment or divestment...

Governments play several roles in the venture capital market. Based on empirical examples, the current paper focuses on the role of the government as a venture capital investor. Compared to the direct involvement of governments in investments entailing risks of market distortion, the paper...