Network Triads: Transitivity, Referral and Venture Capital Decisions in China and Russia

This article examines effects of dyadic ties and interpersonal trust on referrals and investment decisions of venture capitalists in the Chinese and Russian contexts. The study uses the postulate of transitivity of social network theory as a conceptual framework. The findings reveal that referee-venture capitalist tie, referee-entrepreneur tie, and interpersonal trust between referee and venture capitalist have positive effects on referrals and investment decisions of venture capitalists. The institutional, social and cultural differences between China and Russia have minimal effects on referrals. Interpersonal trust has positive effects on investment decisions in Russia.http://deepblue.lib.umich.edu/bitstream/2027.42/40138/3/wp752.pd

Emerging resource flows for social entrepreneurship; theorizing social investment

In the UK and elsewhere, a ‘market’ in social investment has been developing rapidly over the last 10-15 years, yet there has not been an academic study of the phenomenon to date. This paper aims to address this important gap in social entrepreneurship research. Empirically, the aim of this paper is to outline the nature, scale, and forms of these financial flows. Theoretically, the aim is to conceptualize social investment and build an analytic model of its different orientations. The paper suggests three future scenarios for social investment that blend, in different combinations, instrumental and substantive rationalities and logics

Network Triads: Transitivity, Referral and Venture Capital Decisions in China and Russia

This article examines effects of dyadic ties and interpersonal trust on referrals and investment decisions of venture capitalists in the Chinese and Russian contexts. The study uses the postulate of transitivity of social network theory as a conceptual framework. The findings reveal that referee-venture capitalist tie, referee-entrepreneur tie, and interpersonal trust between referee and venture capitalist have positive effects on referrals and investment decisions of venture capitalists. The institutional, social and cultural differences between China and Russia have minimal effects on referrals. Interpersonal trust has positive effects on investment decisions in Russia.Transitivity, triads, referral, venture capital, China, Russi

TRACING THE DEVELOPMENT OF A CONCEPTUAL FRAMEWORK OF ACCOUNTING A WESTERN EUROPEAN AND NORTH AMERICAN LINKAGE: A PARTIAL EXAMINATION

Given the call for the development of an accounting conceptual framework, this paper rejects the need for such an undertaking. Using a historical methodology this paper traces the existence of an accounting conceptual framework that painstakingly has been established over the centuries. The paper maintains that the existing need is to fine tune the exisiting framework.A Classical Model of Accounting; measure ment and communication processes; stock-jobbing of companies' shares; 'Bubble Act'; environmental stimulus; feudal system; venture accounting; 'economic capital maintenance'; creditors' protection; Joint Stock Companies; conservatism; corporate capitalism; corporate social responsibility.

Incorporating prediction and estimation risk in point-in-time credit portfolio models

In this paper we focus on the analysis of the effect of prediction and estimation risk on the loss distribution, risk measures and economic capital. When variables for the determination of probability of default and loss distribution have to be predicted because they are not available at the time the prediction is made, the prediction is prone to errors. The model parameters for the estimation of probability of default or asset correlation are not available, and usually have to be estimated using historical data. The incorporation of prediction and estimation risk generally leads to broader loss distributions and therefore to rising values of risk parameters such as Value at Risk or Expected Shortfall. The level of economic capital required may be strongly underestimated if prediction and estimation risk are ignored. --probability of default,PD,credit risk,default correlation,asset correlation,point in time,value at risk,estimation risk