Contentious Contracts ¤ Ulrich Hege

The Private Equity Secondaries Market During the Financial Crisis and the “Valuation Gap”

The Financing of Innovation: Learning and Stopping by Dirk Bergemann and Ulrich Hege Cowles Foundation Paper No. 1176 Cowles Foundation for Research in Economics

We consider the financing of a research project under uncertainty about the time of completion and the probability of eventual success. We distinguish between two financing modes, namely relationship financing, where the allocation decision of the entrepreneur is observable, and arm's-length financing, where it is unobservable. We find that equilibrium funding stops altogether too early relativ...

Extending Industry Specialization, Intangibles, and Cross-Border Acquisitions

We investigate the role of industry specialization in cross-border acquisitions. We find that acquirers from more specialized industries in a country are more likely to buy foreign targets in countries that are less specialized in these same industries. The magnitude of this specialization effect is large with 14.6% more deals when the difference in industry specialization between two countries...

Disease and Lymphoid Neogenesis CC Chemokine Ligand 21 in Autoimmune Tissues: A Role for Endothelium-Expressed Naive T Cell Recruitment to Nonlymphoid

Near-Wall Flow Visualization in Flattened Surface Neighborhoods

We present a method that flattens a curved surface and its neighborhood to create effective, uncluttered visualizations by applying standard flow visualization techniques in the deformed space. Level sets of the distance from the curved surface are mapped to parallel planes. Data fields are mapped accordingly. Our method eases the visual inspection and analysis of a curved surface’s vicinity by...