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STO vs. ICO : a theory of token issues under moral hazard and demand uncertainty

Miglo, Anton - In: Journal of risk and financial management : JRFM 14 (2021) 6, pp. 1-35

This paper considers a financing problem for an innovative firm that is launching a web-based platform. The entrepreneur, on one hand, faces a large degree of demand uncertainty on his product and on the other hand has to deal with incentive problems of professional blockchain participants who...

Persistent link: https://www.econbiz.de/10012587665

Entrepreneurial Ability, Venture Investments and Risk Sharing

Amit, Raphael ('Raffi") H. - 2011

This study seeks to fill a gap in the research on the behavior of entrepreneurs, their decisions to develop their firms independently or with venture capitalists, and the relation to their abilities and to the value in making that ability known, even at a cost. Information asymmetry exists when...

Persistent link: https://www.econbiz.de/10013134195

The effect of technological risk, market uncertainty and the level of complexity on new technology ventures’ success

Sadeh, Arik; Dvir, Dov - In: International journal of innovation management 24 (2020) 5, pp. 2050047-1-2050047-25

Persistent link: https://www.econbiz.de/10012271450

Reputation concerns in risky experimentation

Chen, Chia-hui; Ishida, Junichiro; Suen, Wing-chuen - 2019

We develop a general model, with the exponential bandit as a special case, in which high-ability agents are more likely to achieve early success but also learn faster that their project is not promising. These counteracting effects give rise to a signaling model in which the single-crossing...

Persistent link: https://www.econbiz.de/10012024759

Misconduct Risks, Legal Enforcement, and Venture Capital Networks

Cumming, Douglas J.; Mohammadi, Ali; Zambelli, Simona - 2021

This study investigates the differing role of enforcement on the formation of venture capital(VC) syndication networks. We conjecture that public enforcement, with strong investigativepowers against any syndicate member, discourages the formation of denser syndicationnetworks due to misconduct...

Persistent link: https://www.econbiz.de/10013220173

Misconduct Risks, Legal Enforcement, and Venture Capital Networks

Cumming, Douglas J.; Mohammadi, Ali; Zambelli, Simona - 2021

This study investigates the differing role of enforcement on the formation of venture capital (VC) syndication networks. We conjecture that public enforcement, with strong investigative powers against any syndicate member, discourages the formation of denser syndication networks due to...

Persistent link: https://www.econbiz.de/10013312113

Venture capital and the macroeconomy

Opp, Christian - In: The review of financial studies 32 (2019) 11, pp. 4387-4446

Persistent link: https://www.econbiz.de/10012135472

Investment Under Uncertainty and Capital Market Imperfection by Indian Manufacturing Firms

Gautam, Vikash - 2013

This paper examines the role of uncertainty and capital market imperfection in influencing firm investment …. Introduction of uncertainty in the investment model allows for limited expandability and limited reversibility of capital over time … group. We identify financially constrained firms in various years by relying on investment-asset sale sensitivity. Using an …

Persistent link: https://www.econbiz.de/10013077052

Crowdfunding, demand uncertainty, and moral hazard : a mechanism design approach

Strausz, Roland - 2015

if expected gross returns exceed twice expected investment costs. Constrained efficient mechanisms exhibit …

Persistent link: https://www.econbiz.de/10011309652

Investor-venture capitalist relationship : asymmetric information, uncertainty, and monitoring

Cherif, Mondher; Sraieb, Skander - In: Risk management and value : valuation and asset price, (pp. 463-476). 2008

Persistent link: https://www.econbiz.de/10003686201

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