Venture capital contracting in theory and practice: Implications for entrepreneurship research

This article provides a comprehensive theoretical and empirical literature review of venture capital contracts. This outlines the differences between theoretical and practical uses of contract designs; that is, (1) how does the choice of securities give rise to different adverse selection problems in terms of attracting different types of entrepreneurial companies; how does the choice of securities in conjunction with cash flow and control rights provisions affect (2) the effort levels by the entrepreneur and the investor; and (3) ultimately affect entrepreneurial outcomes. This article highlights the major discrepancies between theory and practice and points out potential avenues for further research

The validity and reliability of the exposure index as a metric for estimating the radiation dose to the patient

Introduction With the introduction of digital radiography, the feedback between image quality and over-exposure has been partly lost which in some cases has led to a steady increase in dose. Over the years the introduction of exposure index (EI) has been used to resolve this phenomenon referred to as ‘dose creep’. Even though EI is often vendor specific it is always a related of the radiation exposure to the detector. Due to the nature of this relationship EI can also be used as a patient dose indicator, however this is not widely investigated in literature. Methods A total of 420 dose-area-product (DAP) and EI measurements were taken whilst varying kVp, mAs and body habitus on two different anthropomorphic phantoms (pelvis and chest). Using linear regression, the correlation between EI and DAP were examined. Additionally, two separate region of interest (ROI) placements/per phantom where examined in order to research any effect on EI. Results When dividing the data into subsets, a strong correlation between EI and DAP was shown with all R-squared values > 0.987. Comparison between the ROI placements showed a significant difference between EIs for both placements. Conclusion This research shows a clear relationship between EI and radiation dose which is dependent on a wide variety of factors such as ROI placement, body habitus. In addition, pathology and manufacturer specific EI’s are likely to be of influence as well. Implications for practice The combination of DAP and EI might be used as a patient dose indicator. However, the influencing factors as mentioned in the conclusion should be considered and examined before implementation

Coherent Propagation of Polaritons in Semiconductor Heterostructures: Nonlinear Pulse Transmission in Theory and Experiment

The influence of coherent optical nonlinearities on polariton propagation effects is studied within a theory-experiment comparison. A novel approach that combines a microscopic treatment of the boundary problem in a sample of finite thickness with excitonic and biexcitonic nonlinearities is introduced. Light-polarization dependent spectral changes are analyzed for single-pulse transmission and pump-probe excitation

Mitigation of Moral Hazard and Adverse Selection in Venture Capital Financing: The Influence of the Country’s Institutional Setting

A venture capitalist (VC) needs to trade off benefits and costs when attempting to mitigate agency problems in their investor-investee relationship. We argue that signals of ventures complement the VC’s capacity to screen and conduct a due diligence during the pre-investment phase, but its attractiveness may diminish in institutional settings supporting greater transparency. Similarly, whereas a VC may opt for contractual covenants to curb potential opportunism by ventures in the post-investment phase, this may only be effective in settings supportive of shareholder rights enforcement. Using an international sample of VC contracts, our study finds broad support for these conjectures. It delineates theoretical and practical implications for how investors can best deploy their capital in different institutional settings whilst nurturing their relationships with entrepreneurs

No Evidence for Shared Representations of Task Sets in Joint Task Switching

Action Contro

Stratospheric ozone trends and variability as seen by SCIAMACHY from 2002 to 2012

Vertical profiles of the rate of linear change (trend) in the altitude range 15–50 km are determined from decadal O₃ time series obtained from SCIAMACHY¹/ENVISAT² measurements in limb-viewing geometry. The trends are calculated by using a multivariate linear regression. Seasonal variations, the quasi-biennial oscillation, signatures of the solar cycle and the El Niño–Southern Oscillation are accounted for in the regression. The time range of trend calculation is August 2002–April 2012. A focus for analysis are the zonal bands of 20° N–20° S (tropics), 60–50° N, and 50–60° S (midlatitudes). In the tropics, positive trends of up to 5% per decade between 20 and 30 km and negative trends of up to 10% per decade between 30 and 38 km are identified. Positive O₃ trends of around 5% per decade are found in the upper stratosphere in the tropics and at midlatitudes. Comparisons between SCIAMACHY and EOS MLS³ show reasonable agreement both in the tropics and at midlatitudes for most altitudes. In the tropics, measurements from OSIRIS⁴/Odin and SHADOZ⁵ are also analysed. These yield rates of linear change of O₃ similar to those from SCIAMACHY. However, the trends from SCIAMACHY near 34 km in the tropics are larger than MLS and OSIRIS by a factor of around two. <br><br> <br><br> ¹ SCanning Imaging Absorption spectroMeter for Atmospheric CHartographY ² European environmental research satellite ³ Earth Observing System (EOS) Microwave Limb Sounder (MLS) ⁴ Optical Spectrograph and InfraRed Imager System ⁵ Southern Hemisphere ADditional OZonesonde

Location of the Energy Levels of the Rare-Earth Ion in BaF2 and CdF2

The location of the energy levels of rare-earth (RE) elements in the energy band diagram of BaF2 and CdF2 crystals is determined. The role of RE3+ and RE2+ ions in the capture of charge carriers, luminescence, and the formation of radiation defects is evaluated. It is shown that the substantial difference in the luminescence properties of BaF2:RE and CdF2:RE is associated with the location of the excited energy levels in the band diagram of the crystals

Gender and sexual orientation differences in cognition across adulthood : age is kinder to women than to men regardless of sexual orientation

Despite some evidence of greater age-related deterioration of the brain in males than in females, gender differences in rates of cognitive aging have proved inconsistent. The present study employed web-based methodology to collect data from people aged 20-65 years (109,612 men; 88,509 women). As expected, men outperformed women on tests of mental rotation and line angle judgment, whereas women outperformed men on tests of category fluency and object location memory. Performance on all tests declined with age but significantly more so for men than for women. Heterosexuals of each gender generally outperformed bisexuals and homosexuals on tests where that gender was superior; however, there were no clear interactions between age and sexual orientation for either gender. At least for these particular tests from young adulthood to retirement, age is kinder to women than to men, but treats heterosexuals, bisexuals, and homosexuals just the same