Do Global Competitiveness, Cultural Resistance and Capital Financing Drive Value Creation?

Global Capital Flows and Financing Constraints

Firms often cite financing constraints as one of their primary obstacles to investment. Global capital flows, by bringing in scarce capital, may ease host-country firms' financing constraints. However, if incoming foreign investors borrow heavily from domestic banks, multinational firms may exacerbate financing constraints by crowding host-country firms out of domestic capital markets. Combinin...

The Impact of Financing Decision on the Shareholder Value Creation

The purpose of this paper is to explore an optimal capital structure to maximize the shareholder wealth, also we try to determine the most significant determinants for shareholder value creation. Using a sample of French firms introduced on the stock exchange and belonging to SBF 250 index over a period from 1999 to 2005. We use in the paper a panel data. It provides the researcher a large numb...

Social Capital and Systemic Competitiveness

Competition, Contracting, and Value Creation in Venture Capital Finance∗

We embed venture capital contracting in a search market environment where venture capitalists and entrepreneurs meet and bargain over optimal contracts. We find that both the composition and type of financial claims held by the venture capitalist and entrepreneur depend critically on the underlying market structure. In some cases both parties hold a mix of debt and equity while in others only o...

Social Capital and Value Creation: The Role of Intrafirm Networks

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