The present research sets out to reach a better understanding of the determinants of business angels' active involvement in making business angel groups accomplish diverse functions and building cognitive resources and shared competencies. We develop a framework where angels' decision making...

Start-up firms often face difficulties in raising external funds. Employing a unique panel dataset covering 9,715 start-up firms over the period 2007-2009, we find that high-tech startups are less likely to use bank finance and face more difficulties in raising bank finance than low-tech...

This chapter of the forthcoming Oxford Handbook of Financial Regulation considers, in broad historical perspective and also with respect to the global financial crisis, why financial systems are crisis-prone and the relationship between financial crises and regulation. It begins with an overview...

This paper examines the impact of market timing and legal changes in 2005, aimed at aligning Polish regulations on financial markets with the UE standards, on the amount of capital raised at initial public offerings (IPOs) on the Warsaw Stock Exchange. We find that although during IPOs firms...

The paper uses a panel VAR framework to estimate the impact of a series of reforms aimed at reducing transactions cost and information cost in India’s secondary market for equity, on trading cost and trading volume. In particular, we focus on the reforms that were introduced after the creation...

Skills utilization is an important factor affecting labor productivity and job satisfaction. This paper examines the effects of skills mismatch, nepotism, and gender discrimination on wages and job satisfaction in MENA workplaces. Gender discrimination implies social costs for firms due to...