Venture projects are fraught with exogenous market risk and endogenous agency risk. We apply a real options perspective to analyze the investment decision of the venture capitalist (VC) in this set-up. The solutions presented are conflictive: the VC reduces his exposure to exogenous risk by...

Limited partners allocate capital into venture capital funds with the expectation of a risk-return profile matching the fund’s investment style in terms of startup investment stage, location, and industry. This paper draws a connection between style drifts in these three dimensions and the...

1. Introduction / Andreas Pyka and Hans-Peter Burghof -- 2. Financial bubbles, crises and the role of government in unleashing golden ages / Carlota Perez -- 3. Innovation, financial activities and the future of the EU / Pier Paolo Saviotti -- 4. Innovation and economic performance (industrial...