Importance of spatial proximity between venture capital investors and investees in Germany

Based on 1182 dyads of venture capitalists and German portfolio companies involved in a financing round between 2002 and 2007, the study here examines the importance of spatial proximity between investors and investees in a dense economy. Analysis of this data shows that the probability of a financing relationship decreases by 8% if the journey time increases by one standard deviation. For deals involving very small or very large investment sums, and for less experienced venture capitalists and lead investors, spatial proximity is particularly important. The results suggest that even in economies with a dense infrastructure such as Germany spatial proximity between investor and investee impacts the likelihood of an investment.     

Testing the Porter hypothesis: the effects of environmental investments on efficiency in Swedish industry

The main objective of this paper is to test the Porter hypothesis by assessing static and dynamic effects of environmental policy on productivity. According to the hypothesis, stringent environmental regulations have dynamic effects on firm performance, and these effects eventually generate profits that offset the adaptation costs. We extend previous analyses by using unique data on environmental protection investments in the Swedish manufacturing industry as a proxy for environmental stringency. These data enable us to separate environmental protection investments into pollution prevention and pollution control. This distinction is crucial since the hypothesis claims that it is investments in prevention that have positive dynamic effects on firm performance. To test the hypothesis, a stochastic production frontier model is estimated where firm inefficiency is a function of investments in environmental protection. In general, we find no support for the Porter hypothesis within the time frame of our study, indicating that environmental regulations lead to efficiency losses. This result is even stronger in the harshly regulated pulp and paper industry.     

Mixed methods studies in entrepreneurship research: Applications and contributions

Mixed methods research is becoming an increasingly popular approach in several fields. However, its application in the field of entrepreneurship has not been studied. The authors reviewed the use of mixed methods research in three entrepreneurship journals and two leading generalistic journals that publish entrepreneurship research, examining the main purposes and designs. A total of 955 articles were reviewed and 81 mixed methods studies were identified. The analysis of these articles revealed opportunities associated with the application of this approach. Mixed methods may help to improve entrepreneurship research addressing challenges emphasized in earlier studies. Suggestions on why and how to use mixed methods research are offered, and recommendations are provided to guide future mixed methods studies to advance our understanding of the entrepreneurial phenomenon.     

Improving the effectiveness of academic-business models: an analysis of obstacles in R&D activities in service industries

This study aims to analyze how obstacles to industry–university relations affect the success of their cooperation models, using a sample of collaborations coordinated by the Technological and Industrial Development Center (CDTI) in research and development activities in service industries. The results show that for the industry partner the key considerations affecting the dynamics of cooperation with research organizations are missed deadlines and problems associated with the appropriation of results. The importance of these obstacles also has a negative effect on success, especially in aspects related to the results of the project and its overall performance.     

Die Berücksichtigung von Spitzenkappung in der Anreizregulierung

The model of temporary disconnection of renewable energy in case of high energy injection and low demand is thought to be an effective method for reducing investments in electricity networks. However, plant owners need to be reimbursed for foregone sales. According to the currently discussed draft of the Amendment of the German Incentive Regulation Ordinance, these costs can be rolled over to the consumer on a yearly basis, but are part of the cost benchmark with their base year values. This paper shows that this model sets incentives for optimal investments in electricity networks, but violates the participation constraint: Net operators will be exposed to a severe risk of worsening their position in the cost benchmark. In expectation, they will generate losses and investors have no incentive to invest in electricity networks. This problem can be solved by allowing net operators to roll over costs to customers, while considering average reimbursement fees in the cost benchmark.     

Employee voice mechanisms for lesbian,gay, bisexual and transgender expatriation: the role of Employee-Resource Groups (ERGs) and allies

Abstract

Recent literature on lesbian, gay, bisexual and transgender (LGBT) expatriates has largely taken an employee perspective. Less attention has been devoted to organizational mechanisms supporting LGBT voice opportunities for global mobility. In this study, we use respondent data from 15 LGBT employees in combination with data from five global mobility managers to examine the role of Employee Resource Groups. Using the depth, scope and level of voice to frame the study in relation to stereotype threat theory, the findings show that discrimination and stigmatization are prevalent features affecting voice. The findings advance three distinct contributions concerning marginalized (LGBT) employee voices about expatriation: the importance of ‘informal’ social dialogue, the shallow ‘depth’ to voice decision-making roles about LGBT expatriation, and a consideration of ‘silence’ in voice literatures.