Asset values often fall sharply once assets are placed outside of the …rm. When this happens, investors have fewer incentives to enforce their right to liquidate or reorganize the …rm. Instead, they may allow an underperforming business to continue and may even re…nance it under its current management. The problem that this creates is that …rm insiders then have fewer incentives to implement va...

Current advances in digital fabrication are accompanied by efforts to bring about increased facility in the fabrication of digital circuits. In this context, tangibility can apply to the intimate contact with objects as programmable entities forming part of the human-material loop in the sense of physical computing. In this paper, we explore the possibilities of making music with very simple ci...

We study the effect of asset liquidity (“tangibility”) on firm policies in the presence of financing constraints. We do so in a real options framework that allows for the simultaneous determination of investment and financing. In the presence of financing imperfections, firms that operate more tangible assets have larger credit capacity. By expanding the firm’s capital base, the investment proc...

We discuss issues relating to presence arising from the recent evolution of tangible interaction techniques as an alternative interaction paradigm to the familiar WIMP-based Graphical User Interfaces (GUIs). The intersection of sensory, cognitive and also emotional aspects in such interfaces takes us a significant step further than GUI techniques. We introduce our concept of Tangible Presence i...

The aim of this research is the performance assessment of 3D visualization and interaction devices for design activities. Experiments are expected to determine the virtual environments that best fit the dedicated activities. Classification of technologies is proposed on the basis of its apparent relevance to reach intuitive support to the design activity but a method to provide a more complete ...

This paper analyzes the change in the capital structure behavior in a sample of Spanish venture capital (VC) backed firms after the first capital infusion. We find that VC investors contribute to unlisted growing firms in the attraction of other long term sources of funds to continue their growth process. Our results show significant changes in determinants such as tangibility, size and profita...

This study investigates the cross-industry determinants of capital structure. Sample consists of firms from three main industries (textile, cement and power industry) of Pakistan. Five year data from 2005 to 2009 is collected for 199 firms out of which 149 firms from textile industry, 23 from cement industry and 27 from power industry. Leverage is taken as a dependent variable and Profitability...