Dieser Beitrag stellt mit Hilfe der Ordonomik einen systematischen Zusammenhang zwischen zwei unterschiedlichen Literaturen her, deren Fragestellungen zunächst inkommensurabel erscheinen: zwischen der akteurszentrierten Social Entrepreneurship-Literatur und der auf Institutionen ausgerichteten...

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...

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...

A central tenet of economic sociology is that culture and regulatory institutions help to constitute the nature of economic actors and guide their actions, thus affecting economic outcomes (see, e.g., DiMaggio, 1994; Smelser and Swedberg, 1994). As socially organised agents operating in different...

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

The current study investigates a tripartite incentive contract between an innovator supplying an intellectual asset, a professional assigned to productive tasks, and a consulting firm specializing in matching ideas and professionalskills. A rather simple pure tripartite partnership implements...

Unternehmensgründer sind speziellen ethischen Herausforderungen ausgesetzt, vor allembei der Formulierung von Geschäftsideen, bei der Befolgung der rechtlichen Rahmenbedingungen,beim Verfassen von Businessplänen, beim Verhandeln mit Geschäftspartnernund beim Markteintritt. Sie verhalten sich...

In financing start-up firms, venture capitalists carefully select among alternative projects,design incentive compatible financial contracts and support portfolio companies with valueenhancing managerial advice. This paper considers how venture capitalists can induce selfselectionamong...

Entrepreneurs are often faced with problemsregarding start-up financing. But compared to noviceentrepreneurs, experienced entrepreneurs shouldhave both more knowledge and better contacts, whichshould potentially reduce the occurrence of problemsand affect finance composition. However, experience...