Search results for "Financial capital"

An entrepreneur's social capital and performance: the role of access to information in the Argentinean case

2012

Purpose - The aim of this paper is to analyze the impact of an entrepreneur's social capital on their access to information, and how such access improves the performance of their entrepreneurial project. Design/methodology/approach - A structural equations model (SEM) is estimated and validated from a database including information from 282 Argentinean entrepreneurs who answered a questionnaire specifically designed for this research. The analysis of this model allowed the impact of dependent latent variables on the performance of the start-up to be determined. Findings - The performance of an entrepreneurial project depends on an entrepreneur's access to finance, markets and information. S…

ANALYSIS OF BARRIERS FOR BUSINESS START

2016

Entrepreneurship is one of driving forces for economic development, in European Union it has to be paid more attention to keep competitiveness in the world. Various aspects of entrepreneurship including on barriers for business start are covered in research world-wide. The aim of the current paper is to analyse barriers of new business starters in Latvia. The tasks of the current research: analysis of theoretical findings in scientific publications; analysis of new business starters views on barriers for business start; to perform statistical analysis of new business starters evaluations on business barriers. Research methods: scientific literature studies, survey of entrepreneurs in the bu…

Il Paradigma della Città Fluida

2013

Nella recente crisi globale i poderosi flussi di capitali finanziari, sociali e relazionali che hanno alimentato la riqualificazione urbana nel corso degli ultimi quindici anni non sono più disponibili ad essere intercettati in maniera indiscriminata così come è stato possibile fino a qualche anno fa. Nell'era della crisi strutturale le città più dinamiche non sono più quelle in grado di attrarre progetti urbani iconici ed investitori spinti dal mercato immobiliare o dalla redditività delle attività ricreative, ma quelle città che, a partire dalle loro profonde e diversificate risorse culturali, saranno capaci di attuare una vera e propria “metamorfosi” per usarle come base per la creazione…

SOCIAL CAPITAL AND BANK PERFORMANCE: AN INTERNATIONAL COMPARISON FOR OECD COUNTRIES

2008

Over the last few years the literature on social capital and bank efficiency analysis has expanded rapidly. We merge them by analysing how social capital affects bank efficiency in OECD countries. We use activity analysis techniques to measure efficiency, and social capital, which is related to the concept of generalized trust, is considered an environmental variable. Results suggest that the effect of social capital is more relevant for those financial institutions operating in low-social-capital environments. In these cases, inefficiencies are biased upwards, and controlling for social capital enables these banks to move up in the efficiency rankings.

Venture capitalists, investment appraisal and accounting information: a comparative study of the USA, UK, France, Belgium and Holland

2000

The differences between the information used for the pre-investment valuation and the valuation methods used by venture capital investors in five countries (USA, UK, France, Belgium and Holland) are empirically studied. The analysis is based on postal questionnaire surveys of representative samples of senior venture capitalists in each country. Differences are found, which may be attributed to the dominant corporate governance mechanism or the level of development of the venture capital market. Between-country differences persist even after taking into account between-country differences in the relative importance of investment stages and venture capital types. Apparently similar systems an…

Challenges and trends of debt capital raising by SME: experience of the Baltic States

2012

The paper analyses topical issue of debt capital raising by small and medium-sized enterprises in the Baltic States under changing economic conditions. Raise of debt capital is crucial for SME, as financing and its availability is a critical precondition for the survival and development of enterprises. The paper gives an assessment of recent developments in debt capital raising in the Baltic States, identifies the most important challenges and problems, as well as the mistakes made. Based on the analysis made, authors provide solutions for debt capital raising challenges and possible changes in corporate finance of enterprises.

Estimation of the stock of capital in Spain

2000

The paper presents the methodology and results of the estimation of the endowments of capital in the Spanish economy. It distinguishes between endowments of public capital and private capital. The series corresponding to the public sector cover the period 1955–97 and consider seven categories (or functions). The estimates are disaggregated by 17 regions and 50 provinces. The level of disaggregation is regional and provincial (NUTS2 and NUTS3 in European terminology). The private capital series cover the period 1964–97 and consider 17 sectors of production, with disaggregation at regional level. The information refers to two variables: gross formation of fixed capital (in current and constan…

Basel II and bank lending to emerging markets: Evidence from the German banking sector

2007

Abstract This paper investigates whether the new Basel Accord will induce a change in bank lending to emerging markets using a comprehensive new data set on German banks’ foreign exposure. We test two interlinked hypotheses on the conditions under which the change in the regulatory capital would leave lending flows unaffected. This would be the case if (i) the new regulatory capital requirement remains below the economic capital and (ii) banks’ economic capital to emerging markets already adequately reflects risk. On both accounts the evidence indicates that the new Basel Accord should have a limited effect on lending to emerging markets.

Corporate Reputation and the Theory of Social Capital

2013

The Taxation of Financial Capital Under Asymmetric Information and the Tax-Competition Paradox

2003

Information sharing between governments is examined in an optimal-taxation framework. We introduce a taxonomy of alternative systems of international capital-income taxation and characterize the choice of tax rates and information exchange. The model reproduces the conclusion found in earlier literature that integration of international caopital markets may lead to the under-provision of publicly provided goods. However, in contrast to previous results in the literature, under-provision occurs due to inefficiently coordinated expectations. We show that there exists a second equilibrium with an efficient level of public-good provision as well as complete and voluntary information exchange be…