There is widespread recognition of the growing importance of universities in a knowledge society and a competitive economy, and of their required role in stimulating growth through University-Industry-Government interaction. As Tadmor (2003, p.22) put it "[universities] can show the way, offer the solutions and produce the hardware to resolve the most crucial problems". While the education and ...

We develop a real options perspective to explore how an entrepreneur-friendly bankruptcy law can encourage entrepreneurship development at the societal level. If bankrupt entrepreneurs are excessively punished for failure, they may let inherently high-risk but potentially high-return opportunities pass. We suggest that a more entrepreneur-friendly bankruptcy law, informed by a real options logi...

Commercial software firms are increasingly becoming involved with open source communities. In this research-in-progress paper I briefly analysed a single firm case that demonstrates how an institutional entrepreneur mixes in an innovative way different discourses in an attempt to legitimise a new mode for developing software applying both open and closed source codes. The institutional entrepre...

Vesting of equity payments to an entrepreneur, which is a form of time-contingent compensation, is very common in venture capital contracts. Empirical research suggests that vesting is used to help overcome asymmetric information and agency problems. We show in a theoretical model that vesting equity to an entrepreneur over a long period of time acts as a screening device against a bad entrepre...

....in the long run no really subtle, deep, and far-reaching problems can be solved in any field whatsoever, except by people who are able to respond in an original and creative way to the ever changing and developing nature of the overall fact by which they are confronted." (Bohm, 1998). Creativity can lead to many initiatives which are relevant to the development of business. This paper begin...

The efficiency of legal restrictions on private contracts has been analyzed by Aghion and Hermalin (1990). In their model of asymmetric information the authors assume that the informed party has only one signal. The analysis refers to a contract between an uninformed investor and an entrepreneur who needs to raise a capital to fund his project. The entrepreneur can be one of two types, who diff...

in iran, entrepreneurship is a new phenomena and the research in this subject especially on women entrepreneurship is very limited. in spite of the fact that most of the iranian women cooperate in economic, social aspects and especially in higher education, the society is not rewarding their contribution and efforts in economic affairs. in this national and broad research, all the factors effec...