Using the inclusive fitness framework (Hamilton, 1964), this paper models family firms. The structure on altruism imposed by the inclusive fitness framework ensures that increasing kinship reduces monitoring efficiency. Nevertheless, when incentive alignment determines management compensation,...

Spanish Abstract: Las estrategias económicas de los grupos magallánicos en la Patagonia argentina, con especial atención a la familia Braun-Menéndez Behety, desde finales del siglo XIX hasta la actualidad, se caracterizan por una amplia gama de inversiones diversificadas tanto en la...

We examine the association of a venture capital (VC) firm's reputation with the post-IPO long-run performance of its portfolio firms. We find that VC reputation, measured by the past market share of VC-backed IPOs, has significant positive associations with long-run firm performance measures....

Venture capitalists investing in U.S. startups typically receive preferred stock and extensive control rights. Various explanations for each of these arrangements have been offered. However, scholars have failed to notice that when combined these arrangements result in a highly unusual corporate...

This research explores evidence of corporate capabilities for conducting acquisition and alliance deals in young firms. We hypothesize that investors conjecture about the future based on information about a firm's capabilities. Each successive deal carries intrinsic value, creates experience,...

PurposeThe purpose of this study is to investigate the moderating role of knowledge management (KM) strategies in developing the effect of intellectual capital (IC) on innovation for small- and medium-sized enterprises (SMEs). Specifically, the current study explores how different interactions...

The valuation of start-up firms is challenging, yet highly relevant for entrepreneurs and financiers alike. We reverse-engineer fair-value multiples by comparing the firm value at the time of financing with the firm value at the time of exit. Our framework produces reliable valuation multiples...

We examine an emerging phenomenon that talented employees leave successful entrepreneurial firms to join less mature ones. Using a unique person-level dataset and a comprehensive sample of private firms from the U.S. Census Bureau, we find that these “entrepreneurial diffusers”, by...

Cette recherche apprécie la contribution du capital social dans le système de gouvernance des PME, au moyen d'un Indice de Qualité de Gouvernance (IQG) construit selon l'analyse en composante principale de 39 variables, et validé sur des données d'enquête auprès de 300 PME camerounaises....

The success of Silicon Valley start-ups has led many countries to look at the beneficial impact of start-ups in creating jobs, improving economic standard of region, providing cutting edge to competition of nation. Not many of the attempts to transplant this typical US system in alien...