We study how access to private equity financing affects real firm activities using a broad panel of publicly traded U.S. firms that raise external equity through private placements (PIPEs) between 1995 and 2008. The public firms relying on PIPEs are generally small, high-tech firms that cannot finance investment internally and likely face severe external financing constraints; PIPEs are by far ...

Currently two models of innovation are prevalent in organization science. The "private investment" model assumes returns to the innovator results from private goods and efficient regimes of intellectual property protection. The "collective action" model assumes that under conditions of market failure, innovators collaborate in order to produce a public good. The phenomenon of open source softwa...

In open source software development, users rather than paid developers engage in innovation and development without the direct involvement of manufacturers. This paradigm cannot be explained by the two traditional models of innovation, the private investment model and the collective action model. Neither model in itself can explain the phenomenon of the open source model or its success. In orde...

We study the choice between public and private debt in a firm’s marginal financing decision and its effects on corporate investment. To do so, we build a dynamic model of investment and financing decisions in which firms can choose not only the amount but also the type of debt to issue to finance investment. The paper shows how various firm and industry characteristics, such as liquidation cost...

This paper explores the general-equilibrium impact of social security portfolio diversiŽ cation into private securities, either through the trust fund or private accounts. The analysis depends critically on heterogeneities in saving, production, assets, and taxes. Limited diversiŽcation weakly increases interest rates, reduces the expected return on short-term investment (and the equity premium...

1. introduction as a result of the urban sprawl, brownfield areas are accessible in all the cities of the world as well as the iranian cities such as mashhad. these vacant lands provide cities with the possibilities of the inner development and more compact cities. in other words, brownfield areas can promote the compactness by promoting cities in terms of economy durability, social inclusion, ...

The positive relationship between education and sustainable economic development is now widely recognized. This study develops a dynamic model for population and primary education of Pakistan. Primary education sector in Pakistan is operating in both public and private sectors. Pakistan has a clear socioeconomic division of rural and urban areas that get different priorities in allocations of p...

The Stability Pact for South Eastern Europe is a political declaration and framework agreement adopted in June 1999 to encourage and strengthen cooperation among the countries of South East Europe (SEE) and to facilitate, coordinate and streamline efforts to ensure stability and economic growth in the region. (see Compact ") is a key component of the Stability Pact under Working Table II on Eco...

according to several reports, in spite of huge investment on customer relationship management (crm), risk of implementing such projects is high. one of failure factors is having no method to assess crm success comprehensively. nowadays, classic financial methods are common ways for assessing marketing and crm initiatives. but, the mentioned models are unsuitable to assess investments like crm t...