Showing 61 - 70 of 71
Persistent link: https://www.econbiz.de/10003387902
Persistent link: https://www.econbiz.de/10003591236
Persistent link: https://www.econbiz.de/10003724540
Persistent link: https://www.econbiz.de/10011701593
Der Aufsatz gibt zunächst einen kurzen Überblick über die Entwicklung des Marktes für Wagniskapital in den USA und in Deutschland. Dann wird gezeigt, mit welchen besonderen Anreiz- und Vertragsproblemen die Finanzierung von Innovationen zu kämpfen hat und welche neuen Instrumente von der...
Persistent link: https://www.econbiz.de/10010440974
When a young entrepreneurial firm matures, it is often necessary to replace the founding entrepreneur by a professional manager. This replacement decision can be affected by the private benefits of control enjoyed by the entrepreneur which gives rise to a conflict of interest between the...
Persistent link: https://www.econbiz.de/10012731662
We explore why venture capital funds limit the amount of capital they raise and do not reinvest the proceeds. This structure is puzzling because it leads to a succession of several funds financing each new venture which multiplies the well known agency problems. We argue that an inside investor...
Persistent link: https://www.econbiz.de/10012731663
To investigate the external validity of laboratory results, we combine a public good experiment with three treatments in a field experiment. One treatment offers the opportunity to free-ride, the other two are placebo treatments. We compare results within subjects. In the free-riding treatment,...
Persistent link: https://www.econbiz.de/10013315959
Persistent link: https://www.econbiz.de/10013428521
We investigate whether employees in Germany benefit from public bank guarantees in terms of employment probability and wages. To that end, we exploit the removal of public bank guarantees in Germany in 2001 as a quasi-natural experiment. Our results show that bank guarantees lead to higher...
Persistent link: https://www.econbiz.de/10014496851