Investor's increased shareholding due to entrepreneur-manager collusion

This study presents an investor/entrepreneur model in which the entrepreneur has opportunities to manipulate the workings of the project via hidden arrangements. We provide the optimal contracts in the presence and absence of such hidden arrangements. The contracts specify the shareholding arrangement between investor and entrepreneur. Moreover, we render an exact condition necessary for the credit market to form

Innovation: a financial asset of the capitalist or an “intellectual property” of the entrepreneur?

The purpose of this study is to identify the specific subjects that deal with innovation, in order to understand if the innovation “belongs” more to the capitalist or to the entrepreneur, and if there is any difference between the capitalist and the entrepreneur in terms of commitment, risk, and expectations. In this study a literature review methodology is used for classifying the capitalist and the entrepreneur form different profiles and in relation with the innovation process. Data are obtained mainly from books and articles, relying on an interdisciplinary perspective. Research findings show that the figure of the capitalist is distinguished from that of the entrepreneur in front of business activities. Thus, the capitalist is financially committed by offering the capital, expecting as a return the financial interest rate, and assuming a financial risk. Instead, the entrepreneur is committed with innovation and change, expecting the profit as remuneration for the assumed organizational ris

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

What makes an entrepreneur?

This article uses various micro data sets to study entrepreneurship. Consistent with the existence of capital constraints on potential entrepreneurs, the estimates imply that the probability of self-employment depends positively upon whether the individual ever received an inheritance or gift. When directly questioned in interview surveys, potential entrepreneurs say that raising capital is their principal problem. Consistent with our theoretical model's predictions, the self-employed report higher levels of job and life satisfaction than employees. Childhood psychological test scores, however, are not strongly correlated with later self-employment

Today's Immigrant Woman Entrepreneur

Immigrant women entrepreneurs are rapidly making their mark in the U.S. business sector, in every region of the country and across a large range of industries. Today, immigrant women of the post-1960s wave of immigration comprise one of the fastest growing groups of business owners in the United States. This study examines the rise of immigrant women entrepreneurs and profiles them as a group using data from the 2000 Decennial Census and other sources

The Entrepreneur (vol. 11, no. 4)

A newsletter of The Belden Center for Private Enterprise Education, Harding University School of Business, Searcy, Arkansas

The Entrepreneur (vol. 14, no. 3)

A newsletter of The Belden Center for Private Enterprise Education, Harding University School of Business, Searcy, Arkansas

The Entrepreneur (vol. 12, no. 2)

A newsletter of The Belden Center for Private Enterprise Education, Harding University School of Business, Searcy, Arkansas

The Entrepreneur (vol. 2, no. 5)

A newsletter of The Belden Center for Private Enterprise Education, Harding University School of Business, Searcy, Arkansas

Entrepreneurship resources in US public libraries: website analysis

Purpose – This paper aims to explore the entrepreneurship resources patrons can discover and/or access on the web pages of the largest 46 US public libraries to assess the strength of public libraries’ current support to their entrepreneur-patrons, and where, and by what means, public libraries may wish to expand, or further promote, their support. Design/methodology/approach – The author completed a website analysis of the largest 46 US public libraries, as defined by the criteria in the ALA publication The Nation’s Largest Public Libraries. Website analysis was completed via a standardized checklist assessment of each library website. Findings – Public libraries often have print and electronic resources, meeting spaces and programming that could be of use to entrepreneur-patrons, but these resources are sometimes difficult to discover on library websites. Libraries have strong partnering relationships with other government and nonprofit organizations, but they may wish to expand these partnerships further. Practical implications – Public libraries in the US often have multiple support services to offer entrepreneur-patrons. However, if libraries would like to reach entrepreneur-patrons beyond their walls, as well as within them, they may wish to consider further refining the resources both accessible via their website and promoted on it. Originality/value – While there are research articles exploring how both academic and public libraries support entrepreneur-patrons, as yet, there has been no in-depth research into how public libraries support their entrepreneur-patrons through not only their in-library offerings but also the materials highlighted and/ or available via their website. This research addresses this gap in the literature.Publisher does not allow open access until after publicatio