Browsing by Subject "virksomhedens etablering"
Now showing items 1-6 of 6
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Houman Andersen, Poul; Norus, Jesper (København, 2003)[More information][Less information]
Abstract: There is a continuing focus on the conditions for and processes of establishing new businesses and the role played by the external resource context in doing so. Using sociological concepts such as network bricolage and structuration some studies point to the supporting role as well as the restraining role of networks in this process. However, most research focuses on the innovative role of entrepreneurs in linking together dispersed resources in forming a concerted business enterprise. Far less focus has been on the de facto quality of these resources in forming the entrepreneurial role. Rather, the image of the Knightian or Kriznian entreprenur is left unchallenged, even in the "new" literature on entrepreneurship. However, if the concept of network bricolage or structuration as contexts institutionalising specific practices and sorting away others is taken seriously, the preexistence of patterned work practices shared among business actors, and how the ability to utilise these patterned practices in generating new business ideas affects the business start up process becomes important. Entrepreneurial processes may not only be influenced but also internally constituted by the wider environment. One may therefore question whether the impetus for starting up a new business vests entirely with the entrepreneur or what role the context plays in patterning the work of the entrepreneur with respect to firm creation. As pointed out by Gartner (1988) asking "who is the entrepreneur?" is the wrong question. For that purpose, we believe that the context of the entrepreneur, networks and embedded routines, provides an opportunity to understand how the context contributes in shaping the entrepreneurial act. URI: http://hdl.handle.net/10398/6717 Files in this item: 1
dokument 10.pdf (212.1Kb) -
Vintergaard, Christian; Husted, Kenneth (København, 2003)[More information][Less information]
Abstract: Corporate venturing managers have the rule of thumb that only approximately one out of ten investments really pay of in financial measures. These low odds for success, of course, put extremely high expectations to the profit yielded from the few investments that become successful. In other words, the few successful investments carry the costs of many more investment decisions. It would obviously be attractive to improve the ability to "pick the winners". In this paper, we develop a conceptual framework for understanding how firms` involvement in establishing and nurturing the venture base (the idea creation phase) enhances their ability to select ventures. Keywords: Corporate venturing, venture base, selection, network. URI: http://hdl.handle.net/10398/7308 Files in this item: 1
ckg wp 14 2003.pdf (67.40Kb) -
how institutional contexts matterHouman Andersen, Poul; Jesper, Norus (København, 2003)[More information][Less information]
Abstract: The paper has a dual purpose. First, we suggest that entrepreneurs in their establishment of new businesses draw on a range of pre-existing socially embedded routines for creating acceptance by their environment. Also they draw upon external resources that are used in patterning specific practices. This ability is treated as entrepreneurial assets. Secondly, we argue that the existence and patterning of these socially embedded routines used in new business development are contingent on the institutional context. We see the institutional context as complex and fragmented, composed and shaped by different institutional domains: the normative, the cognitive and the regulatory domain. URI: http://hdl.handle.net/10398/6724 Files in this item: 1
working paper 2003 no.11.pdf (369.8Kb) -
Two European Case StudiesVestergaard, Jakob (København, 2003)[More information][Less information]
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Keuschnigg, Christian; Nielsen, Søren Bo (København, 2003)[More information][Less information]
Abstract: This paper proposes and analyses a model of start-up investment. Innovative entrepreneurs are commercially inexperienced and can benefit from venture capital support. Only part of them succeed in matching with a venture capitalist while the rest must resort to standard bank finance. We consider a number of policies to promote entrepreneurship and venture capital backed innovation. JEL Classification: D82, G24, G28, H24. Keywords: venture capital bank finance, matching, moral hazard, public policy. URI: http://hdl.handle.net/10398/7658 Files in this item: 1
cesifo working paper no. 850.pdf (392.7Kb) -
Keuschnigg, Christian; Nielsen, Søren Bo (København, 2003)[More information][Less information]
Abstract: In this paper we set up a model of start-up finance under double moral hazard. Entrepreneurs lack own resources and business experience to develop their ideas. Venture capitalists can provide start-up finance and commercial support. The effort put forth by either agent contributes to the firm’s success, but is not verifiable. As a result, the market equilibrium is biased towards inefficiently low venture capital support. The capital gains tax becomes especially harmful, as it further impairs advice and causes a first-order welfare loss. Once the capital gains tax is in place, limitations on loss off-set may paradoxically contribute to higher quality of venture capital finance and welfare. Subsidies to physical investment in VC-backed startups are detrimental in our framework. Keywords: Venture capital, capital gains taxation, double moral hazard. JEL-Classification: D82, G24, H24, H25 URI: http://hdl.handle.net/10398/6821 Files in this item: 1
wplefic032003.pdf (694.8Kb)
Now showing items 1-6 of 6