Browsing Discussion paper (CEBR) by Author "Nielsen, Søren Bo"
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Keuschnigg, Christian; Nielsen, Søren Bo (København, 2007)[More information][Less information]
Abstract: In financing start-up firms, venture capitalists carefully select among alternative projects, design incentive compatible financial contracts and support portfolio companies with value enhancing managerial advice. This paper considers how venture capitalists can induce self-selection among entrepreneurial firms with different qualities by designing appropriate contracts and offering commercial support. We study the efficiency of the competitive market equilibrium with respect to the level and quality of entrepreneurship and the level of effort by entrepreneurs and venture capitalists. We also provide comparative statics results with respect to basic preference and technology parameters. Venture capital, entrepreneurship, self-selection, moral hazard. URI: http://hdl.handle.net/10398/7707 Files in this item: 1
artikel 07.pdf (407.6Kb) -
Kolm, Ann-Sofie; Nielsen, Søren Bo (København, 2007)[More information][Less information]
Abstract: To examine the effects on labor market performance of government tax and enforcement policies, this paper develops an equilibrium model featuring tax evasion, matching frictions, and worker-firm wage bargains. In the wage bargains, workers and firms can agree on the amount of remuneration that should not be reported to the tax authorities. We find that increased taxation actually reduces unemployment, whereas more zealous enforcement has the opposite effect. URI: http://hdl.handle.net/10398/7699 Files in this item: 1
artikel 10.pdf (464.6Kb)
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