Green technological progress bears a strong potential to alleviate climate change, but its utilization is contingent on factors which are by nature impossible to anticipate or predict. Developing stochastic optimisation models, we explore how the decision to invest in research and development...

This thesis presents two essays in Corporate Finance. In the first essay, I use the August 2007 crisis episode to gauge the effect of financial contracting on real firm behavior. I identify heterogeneity in financial contracting at the onset of the crisis by exploiting ex-ante variation in...

Successful cap and trade programs for SO2 and NOx in the US allocate allowances to large emitters based on a historic base line for a period of up to thirty years. National Allocation Plans in Europe allocate CO2 allowances in an iterative approach first for a three then for a five-year period....

Corporate Venture Capital bezeichnet die Finanzierung von Jungunternehmen durch etablierte Firmen. Diese Dissertation untersucht anhand eines Datensatzes die Unterschiede zwischen Venture Capital und Corporate Venture Capital und eruiert die Einflussfaktoren auf das Umsatz- und...

This thesis consists of three chapters on the impact of different government policies on entrepreneurial financing. In the first chapter, by quantitatively evaluating the impact of different personal bankruptcy regimes on entrepreneurship in a life-cycle model with occupational choices, I...

This Article takes the occasion of the simultaneous collapse of the high technology stock market and the failure of the dot-coin startups, along with the subsequent retrenchment of the venture capital business, to examine the law and economics of downside arrangements in venture capital...

In this study, we examine the determinants of firms’ IPO decisions in Taiwan, for thesample period of 1989 to 2000. The regulations in Taiwan permit us to identify firms thatmet IPO requirements but chose not to go public. The unique regulatory environmentallows a clear comparison of firms...