Venture capital (VC) funds backed by large multi-fund families tend to perform substantially better due to cross-fund cash flows (CFCFs), a liquidity support mechanism provided by matching distributions and capital calls within a VC fund family. The dynamics of this mechanism coincide with the...

This article develops a model in which an intermediary uses a supply chain finance (SCF) program to fund suppliers. The SCF program pools liquidity from suppliers and meanwhile provides immediate payment to suppliers with pressing liquidity needs. We show that the intermediary optimally selects...

This article develops a model in which an intermediary uses a supply chain finance (SCF) program to fund suppliers. The SCF program pools liquidity from suppliers and meanwhile provides immediate payment to suppliers with pressing liquidity needs. We show that the intermediary optimally selects...

Entertainment products such as movies are risky investments but contribute to societal welfare through their cultural and economic value. Therefore, movie production receives financial support from both private investors and public institutions, in the form of subsidies. Noting the ongoing...

Entertainment products such as movies are risky investments but contribute to societal welfare through their cultural and economic value. Therefore, movie production receives financial support from both private investors and public institutions, in the form of subsidies. Noting the ongoing...