We examine the relationship between a society's legal system, a society's culture of empathy, the strength of venture capital contracts and venture performance. We develop a double-sided moral hazard model in which an entrepreneur and a venture capitalist exert value-adding efforts in a venture....

Hiring employees with advanced education, training, and experience has been a prevalent human resource practice in dynamic science-based industries, and a growing body of literature has demonstrated the importance of scientists in such fields. Little research has attempted to distinguish the...