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| A manager’s job consists of several parallel roles. At a certain point in time, one role may be more critical than other roles. For police managers, the roles of personnel leader and resource allocator belong to the police unit. The roles of spokesman and entrepreneur belong to the relationship between police unit and police organization, while the roles of monitor and liaison belong to the relationship between police unit and police environment.
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| White-collar crime can be defined in terms of the offense, the offender or both. If white-collar crime is defined in terms of the offense, it means crime against property for personal or organizational gain, it is a property crime committed by non-physical means and by concealment or deception. If white-collar crime is defined in terms of the offender, it means crime committed by upper class members of society for personal or organizational gain.
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| We consider the combined impact of agency problems and behavioural factors on venture capital/entrepreneur contracting and performance. Particularly, we develop a behavioural game-theoretic model in which a venture capitalist and an entrepreneur negotiate over their respective equity shares, and then exert value-adding efforts in running the business. Double-sided moral hazard exists in that both parties may exert sub-optimal effort (the ‘shirking’ problem). We demonstrate that, for a given level of VC-ability, an increase in social fairness norms induces the VC to offer more equity to the entrepreneur, which in turn induces the entrepreneur to exert more effort. This improves venture performance.
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| The financial crisis of 2008 revealed all we already knew - liquidity matters greatly, the future may be unpredictable, non-transparency, complexity and ambiguity contrived with greed to derail financial sustainability, financial models are not efficient. These revelations increased our awareness that our financial expectations can and do falter. The awareness may alter the financial regulatory environment, financial markets in general, our financial attitudes and beliefs and the future for financial risk management. This article assesses the future for financial risk management and also examines relevant essential concerns in meeting the challenges of an increasingly turbulent financial world.
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| The biotech cluster in San Diego is dominated by small firms, with approximately 73% of the firms employing between 1 to 49 employees. Among the main important sources of financing for the biotech companies are venture capital and initial public offerings. In spite of the aggregate increase in the number of firms and employees in the biotech cluster, there is a high degree of heterogeneity at the level of individual firms.
This paper uses data on the firms that have initiated an IPO offering between 1990-2000, and analyzes how the probability of “success” for these firms depends on various firm’s characteristics. I use two “success” measures and the empirical results indicate that the probability of success is positively influenced by the number of employees and the IPO amount.
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6 September 2010 |
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