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Can I read Financing and Advising: Optimal Financial Contracts withVenture Capitalists on EtoBox?
Financing and Advising: Optimal Financial Contracts withVenture Capitalists by Casamatta C. is a nonfiction available to read on EtoBox.
What is Financing and Advising: Optimal Financial Contracts withVenture Capitalists about?
This paper analyses the joint provision of e¡ort by an entrepreneur and by an advisor to improve the productivity of an investment project.Without moral hazard, it is optimal that both exert e¡ort.With moral hazard, if the entrepreneur's e¡ort is more e⁄cient (less costly) than the advisor's e¡ort, the latter is not hired if she does not provide funds. Outside ¢nancing arises endogenously. This explains why investors like venture capitalists are value enhancing.The level of outside ¢nancing determines whether common stocks or convertible bonds should be issued in response to incentives.
Who reads Financing and Advising: Optimal Financial Contracts withVenture Capitalists?
It is typically read by self-directed learners exploring a subject in depth.
Common subject areas: history, science, philosophy, social sciences.
- Author
- Casamatta C.
- Published
- 2003
- Language
- EN
- Category
- nonfiction
- Subjects
- Business, Economics
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