Patterns in spatial proximity between venture capital investors and investees in Germany: an empirical analysis

The paper analyzes patterns in spatial proximity between venture capital investors and investees. We use a data set of 950 dyads of venture capitalists and German new ventures which have closed a financing round between January 2002 and March 2007. We are the first study to use minimum travel time via car or plane as realistic measure of spatial proximity. Our results indicate that different factors relating to characteristics of the new venture, the venture capitalist and the financing round help explain variations in spatial proximity. We find that spatial proximity is more likely for younger ventures, ventures in knowledge-intensive industries, smaller, less specialized, more experienced, semi-profit oriented, or lead-venture capital investors, as well as for very small or very large investment volumes. Another key finding is that spatial proximity is more likely for consecutive financing rounds. Furthermore, we find the effects to be more pronounced for lead-investors. --venture capital,new venture,spatial proximity,entrepreneurial

Community development venture capital: concept and status quo in Germany

As most other countries, Germany also faces dramatic regional differences in terms of socioeconomic development. One important driver of such development is the existence of a healthy entrepreneurial activity and the creation of new companies. We argue that venture capital (VC) and especially community development venture capital (CDVC) can be a powerful instrument to stimulate entrepreneurship and to support the growth of ambitious companies. Hence, the present paper deals with the general questions, whether there are regional gaps in the supply of VC in Germany? Whether these regional gaps do geographically correspond to the most deprived areas in Germany, and which kind of VC companies are currently in place in order to close potential regional gaps? Geographically, we find that the north-eastern part of Germany is far more deprived than the rest of the country, but is relatively well supplied with VC. Nevertheless, the primary potential target area for CDVC activities in the country is the federal state of Brandenburg in this area. Our assessment of German players in the VC market reveals that some public VC companies do investments similar to CDVC. However, these companies do not offer real hands-on support for entrepreneurs, and real CDVC engagement in the country is yet to come. --regional development,community development venture capital,regional equity gap

Geographic location of a new venture and the likelihood of a venture capital investment

Based on 1182 dyads of German new ventures and venture capitalists involved in a financing round between 2002 and 2007, we examine the impact of spatial proximity on the likelihood of an investment. We find that with each triplication of journey time the relative likelihood of an investment decreases by one third. Venture development stage, the experience of the entrepreneurial team, knowledge-intensity of the industry and the investment volume moderate the relationship between journey time and the likelihood of an investment. Our results suggest that even in economies with a dense infrastructure like Germany regional equity gaps may exist. --venture capital,new venture,geographic location,entrepreneurial finance

Antropometrijske karakteristike šake – pregledni članak

Antropometrija je dio antropologije koji upotrebljava metode mjerenja radi kvantitativnog određivanja morfoloških osobina i funkcionalnih sposobnosti čovječjeg tijela. Važnost antropometrije danas je posebice prepoznatljiva u industrijskom dizajniranju i ergonometriji. Uporaba u arhitekturi važna je za svrhe prikupljanja statističkih podataka o distribuciji tjelesnih dimenzija unutar određene populacije, a koristi se za stalno poboljšanje novih proizvoda. U članku autori opisuju razvoj i vrste antropometrije, povijesni prikaz proučavanja dimenzija ljudskog tijela i šake, metode koje su u uporabi za funkcionalno mjerenje šake i radiografske metode za mjerenje šake, a čiji rezultati mogu poslužiti kao dopuna učinjenim antropometrijskim mjerenjima

Antropometrijske karakteristike šake odraslih osoba na uzorku populacije Dubrovačko-neretvanske županije Anthropometric characteristics of the hand in adults of Dubrovnik County population

Cilj/svrha: Cilj je istraživanja trostruki, i to: ad 1] uporabom antropoloških metoda mjerenja utvrditii postojanje tzv. antropološkog „fenomena akceleracije“ šake; ad 2] usporedba vrijednosti četiriju osnovnih čimbenika mjerenja šake; ad 3] povezanost dimenzija šake u odnosu na vrstu zanimanja, spol, mjesto boravka u dvije populacije različite starosne dobi, i to od 20 do 30 godina u odnosu na populaciju starosne dobi od 50 do 60 godina u Dubrovačko-neretvanskoj županiji [DNŽ]. Metoda i ispitanici: U istraživanje je uključeno 117 ispitanika, i to 52 ispitanika [30 muškaraca] starosne dobi od 20 do 30 godina, te 65 ispitanika starosne dobi od 50 do 60 godina [33 muškarca]. Svi uključeni ispitanici liječeni su u Općoj bolnici [OB] Dubrovnik tijekom 6 mjeseci [od 1. studenoga 2012. do 1. svibnja 2013.]. Kriteriji za uključivanje bili su ispitanici prosječnog osteomuskularnog statusa, bez neuroloških poremećaja, tjelesne visine od 160 do 170 cm za žensku, te od 180 do 190 cm za mušku populaciju, nepostojanje degenerativnih i kongenitalnih bolesti šake. Kriterij za isključivanje bila je tjelesna težina veća od 75 kg za žensku te veća od 100 kg za mušku populaciju. U uporabi su 4 standardne antropometrijske metode mjerenja šake, i to: dužina šake, dužina dlana, širina dlana u projekciji metakarpofalangealnih zglobova, opseg cirkumferencije ručnog zgloba. Statistička obrada učinjena je uporabom pearmanova korelacijskog testa. Rezultati: Iznalazi se statistička značajnost za 4 antropometrijska čimbenika kod populacije mlađe u odnosu na stariju životnu dob, kod ženske populacije koja živi u urbanoj sredini, u komparaciji sa ženama koje žive u ruralnim područjima. Iznalazi se statistička značajnost za 3 antropometrijska čimbenika kod ženskih ispitanica koje svakodnevno obavljaju fizičku aktivnost, i to za čimbenike dužine šake i dlana te posebno cirkumferencije ručnog zgloba, dok se kod muških ispitanika iznalazi značajnost u čimbeniku dužine šake. Kod ispitanika oba spola iznalazi se značajnost vrste obavljanja svakodnevnih poslova u odnosu na dužinu šake i cirkumferenciju ručnog zgloba. Diskusija: Rezultati provedenog istraživanja upućuju na postojanje pozitivnog fenomena akceleracije šake u populaciji mlađe u odnosu na populaciju starije životne dobi u DNŽ. Nadalje, iznalazi se znatna povezanost ispitanika oba spola s vrstom zanimanja i većim dimenzijama šake. Veće dimenzije šake verificiraju se kod ženske populacije koja provodi ruralne vrste svakodnevnih radnih aktivnosti života, dok se kod muškaraca ta povezanost nije verificirala. Dobiveni rezultati istovjetni su objavljenim rezultatima studija koje opisuju istovjetnu problematiku. Nedostaci provedenog istraživanja jesu premalen uzorak ispitanika te kratak vremenski tijek provedenog istraživanja, ali mogu poslužiti kao polazište za daljnja istraživanja antropometrijskih čimbenika stanovništva DNŽ-a

Visoka učestalost neliječene i nedovoljno liječene deficijencije i insuficijencije vitamina D u bolesnika s upalnim bolestima crijeva

Inflammatory bowel disease (IBD) patients with vitamin D deficiency show an increased risk of hospital admission, surgery, and loss of response to biologic therapy while high vitamin D levels are identified as a protective factor. Our goal was to investigate the prevalence of untreated and undertreated vitamin D deficiency and factors associated with vitamin D deficiency. In this cross-sectional study, we measured serum vitamin D in a random sample of Caucasian IBD patients. Vitamin D deficiency was defined as <50 nmol/L and insufficiency as 50-75 nmol/L. Supplementation was defined as taking 800-2000 IU vitamin D daily. Untreated patients were defined as not taking supplementation and undertreated group as receiving supplementation but showing vitamin D deficiency or insufficiency despite treatment. Our study included 185 IBD patients, i.e. 126 (68.1%) with Crohn’s disease (CD) and 59 (31.9%) with ulcerative colitis (UC). Overall, 108 (58.4%) patients had vitamin D deficiency and 60 (32.4%) patients vitamin D insufficiency. There were 16 (14.8%) and 11 (18.3%) treated patients in vitamin D deficiency and vitamin D insufficiency group, respectively. The rate of untreated patients was 81.7% (n=49) in vitamin D deficiency group and 85.2% (n=92) in vitamin D insufficiency group. Tumor necrosis factor alpha inhibitors were associated with higher serum vitamin D levels in CD and UC, and ileal involvement, ileal and ileocolonic resection with lower levels. In conclusion, not only is vitamin D deficiency common in IBD patients but the proportion of untreated and undertreated patients is considerably high. We suggest regular monitoring of vitamin D levels in IBD patients regardless of receiving vitamin D supplementation therapy.Bolesnici s upalnim bolestima crijeva (inflammatory bowel disease, IBD) i manjkom vitamina D su pod povećanim rizikom hospitalizacije, operacije i gubitka odgovora na biološku terapiju, dok visoke serumske razine vitamina D predstavljaju zaštitni čimbenik. Cilj ove studije bio je istražiti učestalost neliječenih i nedovoljno liječenih bolesnika s IBD i manjkom vitamina D te čimbenike rizika. U ovoj presječnoj studiji mjerene su serumske razine vitamina D u slučajnom uzorku bolesnika s IBD bijele rase. Deficijencija je definirana kao razine <50 nmol/L, a insuficijencija kao 50-75 nmol/L. Nadoknada vitamina D je definirana kao uzimanje 800-2000 IJ vitamina D na dan. Neliječeni bolesnici su oni bez nadoknade, a nedovoljno liječeni oni s deficijencijom ili insuficijencijom usprkos nadoknadi. Uključeno je ukupno 185 bolesnika s IBD, tj. 126 (68,1%) s Crohnovom bolešću i 59 (31,9%) s ulceroznim kolitisom. Ukupno je 108 (58,4%) bolesnika imalo deficijenciju, a 60 (32,4%) insuficijenciju. Udio liječenih bolesnika s deficijencijom i insuficijencijom vitamina D iznosio je 14,8% (n=16) i 18,3% (n=11). Udio neliječenih s deficijencijom iznosio je 81,7% (n=49), a s insuficijencijom 85,2% (n=92). Terapija inhibitorima faktora tumorske nekroze alfa bila je povezana s višim razinama vitamina D. Niže razine vitamina D su zabilježene kod bolesnika s upalom u području ileuma i resekcijom ileuma ili ileokolona. U zaključku, niske serumske razine vitamina D su česta pojava kod bolesnika s IBD, a dodatno je udio neliječenih i nedovoljno liječenih također visok. Naša preporuka je kontinuirano praćenje razina vitamina D u serumu svih bolesnika s IBD uključujući i one na nadoknadi vitaminom D

Conditioning moments of singular measures for entropy optimization. I

In order to process a potential moment sequence by the entropy optimization method one has to be assured that the original measure is absolutely continuous with respect to Lebesgue measure. We propose a non-linear exponential transform of the moment sequence of any measure, including singular ones, so that the entropy optimization method can still be used in the reconstruction or approximation of the original. The Cauchy transform in one variable, used for this very purpose in a classical context by A.\ A.\ Markov and followers, is replaced in higher dimensions by the Fantappi\`{e} transform. Several algorithms for reconstruction from moments are sketched, while we intend to provide the numerical experiments and computational aspects in a subsequent article. The essentials of complex analysis, harmonic analysis, and entropy optimization are recalled in some detail, with the goal of making the main results more accessible to non-expert readers. Keywords: Fantappi\`e transform; entropy optimization; moment problem; tube domain; exponential transformComment: Submitted to Indagnationes Mathematicae, I. Gohberg Memorial issu

Some properties of WKB series

We investigate some properties of the WKB series for arbitrary analytic potentials and then specifically for potentials $x^N$ ($N$ even), where more explicit formulae for the WKB terms are derived. Our main new results are: (i) We find the explicit functional form for the general WKB terms $\sigma_k'$, where one has only to solve a general recursion relation for the rational coefficients. (ii) We give a systematic algorithm for a dramatic simplification of the integrated WKB terms $\oint \sigma_k'dx$ that enter the energy eigenvalue equation. (iii) We derive almost explicit formulae for the WKB terms for the energy eigenvalues of the homogeneous power law potentials $V(x) = x^N$, where $N$ is even. In particular, we obtain effective algorithms to compute and reduce the terms of these series.Comment: 18 pages, submitted to Journal of Physics A: Mathematical and Genera

European Survey on Scholarly Practices and Digital Needs in the Arts and Humanities

This report summarizes the statistical analysis of the findings of a web-based survey conducted by the Digital Methods and Practices Observatory (DiMPO), a working group under VCC2 of the DARIAH research infrastructure (Digital Research Infrastructure for the Arts and Humanities). In order to provide an evidence-based, up-to-date, and meaningful account of the emerging information practices, needs and attitudes of arts and humanities researchers in the evolving European digital scholarly environment, the web survey involved a transnational team of researchers from more than a dozen countries, and addressed digitally-enabled research practices, attitudes and needs in all areas of Europe and across different arts and humanities disciplines and contexts

CROATIAN GUIDELINES FOR USE OF ENTERAL NUTRITION IN CROHN’S DISEASE

Prehrana ima važnu višeznačnu ulogu u liječenju upalnih bolesti crijeva, poglavito u bolesnika koji boluju od Crohnove bolesti. U prvom redu adekvatna nutritivna potpora nužna je u prevenciji i liječenju malnutricije, kao i u prevenciji osteoporoze te u promicanju dobi primjerenog rasta u pedijatrijskih bolesnika. S druge strane, u aktivnoj fazi Crohnove bolesti u pedijatrijskih bolesnika enteralna je prehrana terapija izbora za uvođenje bolesnika u remisiju. Glede vrste enteralnih pripravaka istraživanja upućuju na jednaku učinkovitost elementarnih, oligomernih i polimernih enteralnih pripravaka. Uporaba standardnih polimernih enteralnih pripravaka danas se preporučuje i zbog boljeg okusa, lakšeg prihvaćanja od bolesnika, manje komplikacija te značajno nižih troškova u usporedbi s troškovima primjene ostalih enteralnih pripravaka. Najnovije spoznaje upućuju i na to da neki nutrijenti poput transformirajućeg čimbenika rasta beta (TGF-2), koji se nalaze u modificiranim polimernim enteralnim pripravcima, imaju farmakološki terapijski potencijal u liječenju upalnih bolesti crijeva, potvrđen u nekoliko kliničkih ispitivanja. Radna skupina koju su činili internisti gastroenterolozi i pedijatrijski gastroenterolozi, posebno upućeni u liječenje bolesnika s kroničnim upalnim bolestima crijeva izradila je Hrvatske smjernice za primjenu enteralne prehrane u Crohnovoj bolesti. Izrada smjernica temeljena je na dokazima iz relevantne medicinske literature te kliničkim iskustvima članova radne skupine.Nutrition has an important role in the management of inflammatory bowel disease (IBD), especially in patients with Crohn’s disease (CD). This role includes the prevention and correction of malnutrition, the prevention of osteoporosis and the promotion of optimal growth and development in children. In active Crohn’s disease, nutritional therapy (in the form of enteral feeding) is an effective primary therapy for pediatric patients. Studies have shown that there is no difference in the efficacy of elemental, oligomeric and polymeric enteral formulas. Therefore, the use of polymeric formula is recommended because of higher palatability, better acceptance by patients, lower rate of complications and lower cost when compared with other enteral formulas. Today we have knowledge that some nutrients which are added to modified special enteral formulas have almost pharmacological terapeutic potential in the management of inflammatory bowel disease. Novel nutritional therapeutic strategies for inflammatory bowel disease, such as transforming growth factor-beta-enriched (TGF-2) enteral feeding, showed beneficial effects in several clinical studies. Croatian guidelines for enteral nutrition in Crohn’s disease have been developed by interdisciplinary expert group of Croatian clinicians involved with inflammatory bowel disease. The guidelines are based on evidence from relevant medical literature and clinical experience of working group