Economic Geography maintains that economic activities are not randomly distributed across space. This paper examines the impact of industrial and regional characteristics on venture capital activities in the United States from 1995 until 2009. The unique database allows for stratifications into...

This paper investigates the transition of the LMF toward its optimal size. Once the firm has decided on the optimal number of members, the question of how to move toward that equilibrium must be addressed. The firm may not currently find itself at the optimal level for two reasons. Either the...

During the first decade of Israel's existence large waves of immigrants came from Europe and the Middle East. This paper introduces an empirical study which compares the occupational socioeconomic score differentials between ethnic groups within and outside the kibbutz. The three groups examined...

This paper provides an overview of the evolution of macroeconomic thought from 1936, the year John Maynard Keynes published his general theory of employment, interest and money to the year 2010. It explores the reasons for the extension of the business cycle during the postwar period. The paper...

Although the national media has given increased attention to the venture capital process, misconceptions continue to proliferate. One often hears about the incredible capital gains of IPO share prices. This paper refutes the myth that investors demand very high rates of return to compensate for...

Financial crises, booms and busts are an inherent part of the capitalist system. The current financial crisis that began in 2007 has reignited the debate about the causes and consequences of previous economic downturns. While some look at the differences among crises, both historical and as...

This paper uses the framework of institutional economics to explain the recurring phenomena of financial crises. How do various institutions fail in predicting, responding to and reducing the burden of the crises? How do they further contribute to the domino effects that nearly led to the...

This paper investigates the actual performance of 2,895 Initial Public Offerings of companies that were backed by venture capital from 1968 through 1998. It seeks to refute the myth that investors demand very high annualized and cumulative rates of return to compensate for the risks they are...

This paper studies venture capital investment activity in the United States stratified by both locations and industries. Is geographical location an important factor to venture capital investment? Is industry classification important in explaining the amount of dollars invested in venture...

This paper investigates the actual performance of 2,678 Initial Public Offerings (IPOs) of companies that were backed by venture capital from 1969 to 2002. The main purpose is to compare the annual returns of the venture capital industry during the 1980s and 1990s. Comparisons between the...