We analyze the nature of financial contracting when an entrepreneur can choose the specificity of investments and financial contracts are incomplete. Investing in projectspecific assets increases productivity but decreases liquidation value. This creates a strategic incentive to specialize assets to decrease the bargaining power of the financier when debt financing is used. By contrast, equity ...

We test the theory that personal financial resources are an important factor in becoming an entrepreneur. Using data from the Panel Study of Entrepreneurial Dynamics (PSED), we examined the role of financial resources (e.g., household income and wealth) and human capital (e.g., education, prior work and entrepreneurial experience, and influence from family/friends) on the decision to become an ...

Solution The unique pure strategy subgame perfect equilibrium is (Rr, r). 2. (30pts.) An entrepreneur has a project that she presents to a capitalist. She has her own money that she could invest in the project and is looking for additional funding from the capitalist. The project is either good (denoted g) (with probability p) or it is bad (denoted b) (with probability 1− p) and only the entrep...

► First-generation students experience a cultural mismatch in university settings. ► This mismatch leads to an aversive state that affects biological functioning. ► Independent norms produced a social class gap in cortisol and negative emotions. ► Interdependent norms eliminated the social class gap in cortisol and negative emotions. a b s t r a c t a r t i c l e i n f o American universities i...

this study deals with the visibility, influence rate of diffrent links in virtual universities websites. the current community research is consisted of websites of 21 non medical universities websites and 8 websites of iran medical universities. the websites have been retrieved by the use of searchin and goolge webometic tools and are downloaded on personal computers to analyze their links. the...