We consider the combined impact of agency problems and behavioural factors on venture capital/entrepreneur contracting and performance. Particularly, we develop a behavioural game-theoretic model in which a venture capitalist and an entrepreneur negotiate over their respective equity shares, and then exert value-adding efforts in running the business. Double-sided moral hazard exists in that bo...

One of the stylized facts from the past thirty years has been the declining rate of first births before age 30 for all women and the increase rate of first births after age 30 among women with four-year college degrees (Martin 2000). What are some of the factors behind women's decision to postpone their childbearing? We hypothesize that the wage difference often observed between like-educated m...

Using internal data of a leasing company in Germany, we examine the determinants of the probability and use of leasing by small firms. We find that small and young firms are likely to be constrained on the leasing market but use leasing to increase their debt capacity. Beyond contractand firm-specific characteristics, demographic and socio-economic characteristics of the entrepreneur matter. Ol...

This paper describes and compares transitions into employment of mothers of newborn children in several European countries. Although female labour participation has increased everywhere, women are still likely to interrupt their career, when they have a child, for a period of time longer than the basic maternity leave. Using data from ECHP, we select women who have a child during the survey and...