<title/> After a difficult beginning, a series of fiscal and legislative measures is helping to encourage venture capital investment and the appearance of new and innovative enterprises. A feature of the French venture capital world is the key role played by public bodies. These are multi-role...

Our research has endeavoured to exploit recent analyses of products and market diversity in terms of the plurality of worlds of production. We show that there are severals ways to be profitable and there is no hierarchie between them. This study is conducted using a sample data of 1354 French...

This paper provides a quantitative comparison of the financial patterns of non-financial European firms for seven Continental European countries and the period 1991-2001. Our analytical framework departs from the common one as we consider that long-term and short-term sources of funds have to be...

[fre] Cet article propose d'analyser la coordination entre le capital-risqueur et l'entrepreneur autrement que ne le font les théories de l'agence et de l'information qui constituent la référence dominante. Ce nouveau cadre valorise des pratiques spécifiques, telles que l'organisation des...

[fre] Les incertitudes sur l'issue de la relation de crédit de clientèle ont une double origine : la banque cherche à s'assurer que son client pourra la rembourser, l'emprunteur souhaite obtenir des assurances sur les conditions d'accès au crédit dans le futur. De la littérature théorique...

Firms need flexibility, defined as the capacity to react to unexpected situations. Corporate flexibility improves with liquidity. For non-financial firms, sources of liquidity are twofold: internal, by keeping cash, and external, through a borrowing power, usually from banks. On the average, a...