Conditional Allocation of Control Rights in Venture Capital Finance

When a young entrepreneurial firm matures, it is often necessary to replace the founding entrepreneur by a professional manager. This replacement decision can be affected by the private benefits of control enjoyed by the entrepreneur which gives rise to a conflict of interest between the entrepreneur and the venture capitalist. We show that a combination of convertible securities and contingent control rights can be used to resolve this conflict efficiently. This contractual arrangement is frequently observed in venture capital finance

Modelo de análisis financiero para una explotación lechera.

112 p.Con este trabajo se evaluó la rentabilidad de la Hacienda Rio Abajo para los años 1988, 1989 y 1990 y se realizó una proyección hato para determinar la rentabilidad con 200 vacas en ordeño, que es donde se espera estabilizar el crecimiento de la explotación. Para poder determinar la rentabilidad de la Hacienda se recopilaron los costos e ingresos de los años 1988, 1989 y 1990 en base con los cuales realizó el análisis financiero. Basándose en los estados financieros se calcularon diferentes razones para los tres años. Los costos e ingresos se trabajó en base a los datos de los años .1988, 1989 y 1990, los cuales se proyectaron según el crecimiento esperado del hato.1.Lista de anexos 2.Índice de cuadros 3.Introducción 4.Revisión de literatura 5.Metodología 6.Resultados 7.Conclusiones y recomendaciones 8.Resumen 9.Bibliografía 10.Anexo

People's Intention to Visit Tourist Destinations During the Covid-19 Pandemic in Surabaya

The Covid-19 pandemic has affected tourism sectors, for example, resulting in social restrictions and travel restrictions. The declining number of tourists visiting tourist destinations has impacted cities for tourists including Surabaya. This paper aimed to analyze the Surabaya people's desire to make a leisure trip during the pandemic. A total of 121 questionnaires from 500 distributed ones which met the criteria were analyzed. The findings showed that the majority of Surabaya's residents had no intention of traveling during the pandemic as the Surabaya government implemented many travel restrictions, including large-scale social restrictions (LSSR) several times. The travel restrictions reduced the chance for traveling out of and into the Surabaya areas. The results of the questionnaires showed that green tourism would be the most chosen tourist destination by the respondents to visit if the pandemic calmed down. Culinary tours were placed in the second rank, followed by marine tourism and religious tourism. Suggestions for further research are that the government can provide more massive counseling about the importance of maintaining cleanliness. For instance, it needs to promote changing masks regularly and educating the public about the importance of Cleanliness Health Environment and Safety (CHSE) applied by all tourist destinations and other public places