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Claessens, Stijn - 2003

This paper investigates how different legal frameworks not only affect the amount of external financing available, but also the allocation of resources among different type of assets. Using a simple model, we show that a firm will get less financing, and thus invest less, in a weak law and order...

Persistent link: https://www.econbiz.de/10012740581

The Aftermath of the "New Economy" Bust : a Case Study of Five OECD Countries

Baudchon, Hélène - Centre de recherche en Économie (OFCE), Sciences … - 2002

ICT countries; the Netherlands for their similarities with the above mentioned countries and France as a national … the importance of the ICT sector in these countries through a set of variables: the contribution of the ICT sector to GDP … the ICT sector to jobs growth and the ICT share in foreign trade and direct investment. We then describe the timing of the …

Persistent link: https://www.econbiz.de/10005689673

Private equity returns and disclosure around the world

Walz, Uwe; Cumming, Douglas - Center for Financial Studies - 2004

We study the returns the venture capital and private equity investment from 221 venture capital and private equity funds that are part of 72 venture capital and private equity firms, 5040 entrepreneurial firms (3826 venture capital and 1214 private equity), and spanning 32 years (1971 2003) and...

Persistent link: https://www.econbiz.de/10010986361

Equity Prices, Productivity Growth and 'The New Economy

Madsen, Jakob B.; Davis, E. Philip - Økonomisk Institut, Københavns Universitet - 2004

The sharp increase in equity prices over the 1990s was widely attributed to permanently higher productivity growth derived from the New Economy. This paper establishes a rational expectations model of technology innovations and equity prices, which shows that under plausible assumptions,...

Persistent link: https://www.econbiz.de/10005750009

Digital Economy Impact on Society

Cristina, Lazãr; Tiberius, Epure Dãnuþ; Cerasela, … - In: Ovidius University Annals, Economic Sciences Series XI (2011) 1, pp. 1131-1133

With this study we’re trying to bolster up the idea that digitization of information combined with the Internet is a form of general purpose technology, which rose a wide range of new possible combinations that could be provided by the digital economy. The impact of the digital economy over...

Persistent link: https://www.econbiz.de/10010632448

The Effects of Experience, Ownership, and Knowledge on IPO Survival: Evidence from the Neuer Markt

Audretsch, David; Lehmann, Erik - Fachbereich Wirtschaftswissenschaften, Universität Konstanz - 2004

We study the implications of ownership and its induced incentives on firm performance for young and high-tech firms. Using a unique data set of all 341 firms listed on the Neuer Markt, the German counterpart of the NASDAQ, our results differ from studies on more traditional firms. Ownership by...

Persistent link: https://www.econbiz.de/10005146723

Bulle financière et introduction des sociétés Internet au Nouveau marché

Boisselier, Patrick; Dufour, Dominique - In: Revue Finance Contrôle Stratégie 10 (2007) 1, pp. 67-93

(VF)Les actions des sociétés de la «nouvelle économie» ont été valorisées, à l’époque de la bulle «Internet», à des niveaux remarquablement élevés. Cette étude tente de cerner le comportement des actionnaires initiaux, notamment ceux des sociétés Internet, au moment de...

Persistent link: https://www.econbiz.de/10005196832

Venture Capital Investment and Labor Market Performance: New Empirical Evidence for OECD Countries

Belke, Ansgar; Schaal, Andreas - Institute for the Study of Labor (IZA) - 2004

Anglo-Saxon countries have been successful in the 1990s concerning labor market performance compared to the former role models Germany and Japan. This reversal in relative economic performance might be related to idiosyncracies in financial markets with bank-based financial markets as in Germany...

Persistent link: https://www.econbiz.de/10005822244

Financing High-Tech Growth: The Role of Debt or Equity

Audretsch, David B.; Lehmann, Erik E. - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2004

Using a data set of the firms listed on the Neuer Markt in Germany, this paper demonstrates that venture backed firms differ from firms with other financial resources, especially debt. Thus, the results of this study provide evidence for the hypothesis that small and innovative firms are more...

Persistent link: https://www.econbiz.de/10005765249

The Effects of Experience, Ownership, and Knowledge on IPO Survival: Empirical Evidence from Germany

Audretsch, David B.; Lehmann, Erik E. - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2004

We study the implications of ownership and its induced incentives on firm survival on the stock market for young and high-tech firms. Using a unique data set of all 341 firms listed on the Neuer Markt, the German counterpart of the NASDAQ, our results differ from studies on more traditional...

Persistent link: https://www.econbiz.de/10005765285

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