Managerial incentives influence risk-taking as well as effort. Theoretical research has long considered risk-taking to be a potential side effect of incentive pay, but empirical analysis of risk-taking incentives has been more limited. This paper uses exogenous variation in incentives to examine...

As incomes rise in the developing world and as governments and lending agencies invest in energy infrastructure, households are gaining access to commercial energy sources, such as electricity, natural gas and oil. Economists have noted for some time, however, that households do not consume...

Most of the future growth in energy use is forecast to come from the developing world. Understanding the likely pace and specific location of this growth is essential to inform decisions about energy infrastructure investments and to improve greenhouse gas emissions forecasts. We argue that...

Over the next 25 to 30 years, nearly all of the growth in energy demand, fossil fuel use, associated local pollution, and greenhouse gas emissions is forecast to come from the developing world. This paper argues that the world's poor and near-poor will play a major role in driving medium-run...

Most of the medium-run growth in energy demand is forecast to come from the developing world, which consumed more total units of energy than the developed world in 2007. We argue that the main driver of the growth is likely to be increased incomes among the poor and near-poor. We document that...

Venture capital (VC) investment has long been conceptualized as a local business, in which the VC's ability to source, syndicate, fund, monitor, and add value to portfolio firms critically depends on their access to knowledge obtained through their ties to the local (i.e., geographically...

Innovation, Markets and Sustainable Energy is the first attempt to explore fuel cells and hydrogen technologies by embracing a solid theoretical perspective in the field of innovation and management. Adopting a cross-sectional and international perspective, the book analyzes the implications of...

This study introduces a novel multidimensional measure of the entrepreneurial environment that reveals how differences in institutional arrangements influence both the rate and the type of entrepreneurial activity in a country. Drawing from institutional theory, the measure examines the...

In the United States, corporate actors choose their state of incorporation and are subject to the laws of the state in which they are incorporated. Incorporating in Delaware is a common move for most US firms, especially those interested in attracting venture capital, as the state's corporation...