The paper examines how a domestic institutional environment and third-party compliance assessment shape the effects and effectiveness of certification and labeling. Certification represents a form of transnational non-state market-driven governance of the environmental and social performance of...

Using a unique data set that contains the complete ownership structure of the German stock market, we study the momentum and contrarian trading of different investor groups. Foreign investors and financial institutions, and especially mutual funds, are momentum traders, whereas private...

This paper surveys empirical and theoretical studies of various control mechanisms embedded in venture capital contracts. These mechanisms mitigate incentive problems and opportunistic behavior arising in the uncertain environment of financing young hightechnology enterprises that predominantly...