Die Computerspieleentwicklung steht wie kaum eine andere Branche in Europa für kreative Wissensarbeit unter z. T. riskanten Beschäftigungsbedingungen. Die weltweiten Zahlen des Computerspielemarktes deuten darauf hin, dass wir es mit einer wachsenden Branche zu tun haben, deren Bedeutung in...

We present evidence on venture capitalists' (VCs) impact on turnover of executives for a sample of nearly 47,000 German high-tech start-ups between 1995 and 2004. We confirm that the presence of VCs increases the probability of a change in the initial executive team. Additionally, we take a...

Theorists argue that exit rights can mitigate hold-up problems in venture capital. Using a hand-collected data-set of venture capital contracts from Germany we show that exit rights are included more frequently in venture capital contracts when a hold-up problem associated with the venture...