This paper aims to connect two strands of the venture capital literature: the inter-relationships among venture capitalists (VCs) on the one hand, and between VCs and their funds providers on the other hand. It examines the existence of a relationship between type of fund provider and skill...

De nombreux travaux soutiennent que les CVCs (Corporate Venture Capitalists) financent des investissements ayant une rentabilité moindre que les IVCs (Independent Venture Capitalists). Plusieurs explications sont avancées. La plus fréquente est que les CVCs, assurés d'un refinancement...

La littérature consacrée aux déterminants du capital-risque insiste sur la relation positive existant entre le montant des fonds investis dans cette activité et la situation prévalant sur les marchés financiers. Cependant, au cours des dernières années, la relation entre marchés...

La littérature consacrée aux déterminants du capital-risque insiste sur la relation positive existant entre le montant des fonds investis dans cette activité et la situation prévalant sur les marchés financiers. Ceci n'est pas surprenant dans la mesure où des anticipations d'introductions...

Our paper sheds light on the reasons for which a rational venture capitalist decides to reallocate his or her portfolio from later to early-stage investment. We explain why, during certain periods, there is a strong correlation between the performance of financial markets and the funds invested...

We analyse the determinants of bank balance-sheets and leverage-ratio dynamics, and their role in increasing financial fragility. Our results are twofold. First, we show that there is a value of bank leverage that minimises financial fragility. Second, we show that this value depends on the...

We analyse the determinants of banks' balance-sheet and leverage-ratio dynamics and their role in increasing financial fragility. Our results are twofold. First, we show that there is a value of bank's leverage that minimises financial fragility. Second, we show that this value depends on the...

Recent outbreaks of financial instability have spurred new interest in the works of the late Hyman P. Minsky who made path-breaking contributions to our understanding of contemporary market economies. This book provides an innovative tribute to Minsky’s work and sheds new light on the nature...

In this paper we provide an institutional interpretation of Schumpeter's analysis of money, banking and finance. We justify this interpretation by considering first Schumpeter's overall methodological perspective, in particular the role played by economic sociology in his approach, and second by...

In this paper, we present a Minskyan model that deals explicitly with the influence of the institutional dynamics on the relation between finance, investment, and economic fluctuations. We show that stabilization policy can be efficient in certain cases--namely, when fiscal policy is sensitive...