[eng] Operational risk and capital requirements in the European investment fund industry . This paper analyses the sources of operational risk in the investment fund industry. An empirical survey documents the extent and origin of operation losses across European fund management companies. We...

The objective of this Paper is to understand: i) why venture capital investments are often syndicated; and ii) what are the effects of syndication on the post-investment involvement of venture capitalists. We analyse a model where a venture capitalist's efficiency to screen an uncertain project...

This paper analyses the joint provision of effort by an entrepreneur and by an advisor to improve the productivity of an investment project. Without moral hazard, it is optimal that both exert effort. With moral hazard, if the entrepreneur's effort is more efficient (less costly) than the...