This article advocates the relevance and crucial need for a strategic vision of the Algarve based on a cluster approach for its economy of the sea. The article reviews the literature on clusters and relevant topics related and relevant to that issue. It starts by summarizing the scope and...

The purpose of this paper is to point out some of the main characteristics and critical factors for success that can substantiate the proposal of a differentiation framework for maritime clusters. We conduct a benchmarking analysis intended to distinguish the most relevant aspects which can or...

We introduce the concept of style drift to private equity investment. We present theory and evidence pertaining to style drifts in terms of a fund manager's stated focus on particular stages of entrepreneurial development. We develop a model that derives conditions under which style drifts are...

This paper introduces an analysis of international relocation decisions of venture capital (VC) - backed companies. Relocations to the US are motivated by economic conditions as well as an improvement in the laws of the country in which the entrepreneurial firm is based. Relocations to the US...

This paper empirically examines the effects of LBO regulations on the structure of LBO transactions based on data from Italy from 1999-2006. We show that rendering LBOs illegal prior to 2004 reduced the frequency of LBOs in Italy but did not exclude them altogether. Rather, it inhibited...

This paper examines how the provision of venture capital to small and medium sized businesses (SMEs) is influenced by the ownership structure of the venture capital provider. We introduce a new and unique dataset from the Japanese venture capital market, comprising data on investment and venture...

We analyze governance with a new dataset on investments of venture capitalists in 3848 portfolio firms in 39 countries from North and South America, Europe and Asia spanning 1971-2003. We provide evidence that cross-country differences in legality, including legal origin and accounting...

This paper considers the structure, governance and performance of a unique class of mutual funds that receives capital only from individuals, and reinvests this contributed capital in private companies, as opposed to traditional mutual funds that invest in publicly traded companies. We consider...

This paper introduces an analysis of the impact of Legality on the exiting of venture capital investments. We consider a sample of 468 venture-backed companies from 12 Asia-Pacific countries, and these countries' venture capitalists' investments in US-based entrepreneurial firms. The data...

Using a sample of European venture capital investments, I study the relation between venture capital (VC) contracts and exits. The data indicate that ex ante, stronger VC control rights increase the likelihood that an entrepreneurial firm will exit by an acquisition, rather than through a...