Venture capital markets are characterized by multiple incentive problems and asymmetric information in an uncertain environment. All kinds of agency problems are present: moral hazard, adverse selection, hold-up problems, window dressing, etc. Entrepreneurs and venture capitalists enter into...

External finance is central for nascent entrepreneurs, people in the process of starting new ventures. We argue that nascent entrepreneurs use patents and prototypes in order to signal their ability to appropriate the returns from their innovation as well as the project’s feasibility. Our...

External finance is central for nascent entrepreneurs, people in the process of starting new ventures. We argue that nascent entrepreneurs use patents and prototypes in order to signal their ability to appropriate the returns from their innovation as well as the projectś feasibility. Our...

Die Eigenkapitalausstattung von österreichischen Unternehmen wird in der wirtschaftspolitischen Diskussion als zu gering eingestuft. Die daraus resultierende übermäßige Verwendung von Fremdkapital wird in Krisenzeiten als schädlich für die finanzielle Stabilität von Unternehmen angesehen....