Comparing Successful and Less Successful New Innovative Businesses

This contribution offers a conceptual framework for the analysis of innovative business start-ups. This framework mainly draws on transaction cost theory. On basis of a broad empirical study of 52 hightech business start-ups in Germany the fruitfulness of the transaction cost approach with respect to research on innovation is demonstrated. Transaction cost theory gives valuable hints for the interpretation of the personal role of the entrepreneur as well as for the economic evaluation of the entrepreneurial idea. Special importance refers to the results on the organization of market transactions as a decisive determinant of economic success of innovative business start-ups

Nematic and supernematic phases in Kagome quantum antiferromagnets under a magnetic field

Optimizing translationally invariant infinite-Projected Entangled Pair States (iPEPS), we investigate the spin-2 Affleck-Kennedy-Lieb-Tasaki (AKLT) and spin-1 Heisenberg models on the Kagome lattice as a function of magnetic field. We found that the magnetization curves offer a wide variety of compressible and incompressible phases. Incompressible nematic phases breaking the lattice $C_3$ rotation -- for which we propose simple qualitative pictures -- give rise to magnetization plateaux at reduced magnetization $m_z=5/6$ and $m_z=1/3$ for spin-2 and spin-1, respectively, in addition to the $m_z=0$ plateaux characteristic of zero-field gapped spin liquids. Moving away from the plateaux we observe a rich variety of compressible superfluid nematic -- named "supernematic" -- phases breaking spontaneously both point group and spin-U(1) symmetries, as well as a superfluid phase preserving lattice symmetries. We also identify the nature -- continuous or first-order -- of the various phase transitions. Possible connections to experimental spin-1 systems are discussed.Comment: 5 pages + supplemental material (6 pages