| Author: | Knobloch, A. P. |
| Title: | Die staatliche Gründungsfinanzierung aus agency-theoretischer Sicht |
| Journal: | Zeitschrift für Betriebswirtschaft
2001 : DEC, VOL. 71:12, p. 1459-1483 |
| Index terms: | Public finance Company formation Germany |
| Language: | ger |
| Abstract: | The role of public aid in early-stage financing is still crucial in Germany, with private institutions growing rapidly int the equity market. Despite the huge amounts spent for financing start-ups, there is a lack of theoretical background how to do this best. The authors examine this problem by means of an agency model that combines the incentive on the agent's effort generated by debt with the risk-sharing property of equity. |
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