scholarly journals The Staged Financing Selection Mechanism for Government to Maximize the Green Benefits of Start-Ups

2021 ◽  
Vol 2021 ◽  
pp. 1-13
Author(s):  
Wenke Yang ◽  
Qianting Ma ◽  
Meile Tian ◽  
Lei Wang ◽  
Jianmin He
Keyword(s):  
Agency Cost ◽  
Sunk Costs ◽  
Bank Loans ◽  
Green Innovation ◽  
Financing Decision ◽  
The Government ◽  
Government Grant ◽  
Start Ups ◽  
Staged Financing ◽  
Monetary Income

In this study, we investigate the most common forms of government grant in green start-ups, which are appropriation, interest-free bank loans, and tax subsidies. These mechanisms are used to mitigate the problem of higher research costs and sunk costs of start-ups on green innovation and help venture investors better monitor the business plan, asset use, and agency cost and regularly collect information of start-ups to retain the right to terminate financing projects and improve the efficiency of them. The aim of this work is to develop a theoretical model of the agency among the government, the venture capitalists who only pursue monetary income, the strategy investors who pursue strategic objectives and monetary income, and the entrepreneur who takes into account both the influence of different forms of government grant on entrepreneur financing at a different stage and the improved monitoring process of venture investors owe to the staged capital infusion of government. The model shows that the optimal staged financing decision is given when the first target of the government is to achieve social welfare optimization and the secondary goal of maximizing green benefits. Moreover, the model explains the optimal staged financing decision of venture investors and equity stake share in different rounds. Ultimately, we find the optimal staged financing portfolios for green start-ups to acquire venture investment, reduce the staged financing uncertainty, and help the government realize a national green innovation strategy.

Does a carbon emissions trading scheme spur urban green innovation? Evidence from a quasi-natural experiment in China

2021 ◽  
pp. 0958305X2110153
Author(s):  
Chao Li ◽  
Xiangyou Li ◽  
Deyong Song ◽  
Meng Tian
Keyword(s):  
Energy Conservation ◽  
Alternative Energy ◽  
Positive Impact ◽  
Emission Trading ◽  
Green Innovation ◽  
Urban Green ◽  
Carbon Emissions Trading ◽  
The Government ◽  
Trading Scheme ◽  
The Impact

Based on the panel data of 277 cities between 2003 and 2017 and a unique city-level dataset of green patent applications, this study employs the difference-in-differences (DID) method to evaluate the effect of China’s carbon emission trading scheme (ETS) pilots on urban green innovation. The findings indicate that China’s ETS pilots have a positive impact on urban green innovation, and that impact is more significant for municipalities than for prefecture-level cities. Furthermore, the impact on different categories of urban green innovation is heterogeneous. More specifically, China’s ETS pilots have significantly spurred urban green innovation that is closely related to energy conservation and emission reduction, including alternative energy production, transportation, energy conservation and so forth. Moreover, the facilitating effect of China’s ETS pilots on urban green innovation suffers from a lagging effect, which began to show a significant positive effect in 2016. Overall, this paper identifies the effect of China’s ETS pilots on urban green innovation, and suggests that the government should consider the heterogeneity of urban green innovation when designing national ETS policies.

scholarly journals Business Sustainability of Start-Ups Based on Government Support: An Empirical Study of Korean Start-Ups

2019 ◽  
Vol 11 (18) ◽  
pp. 4851 ◽  
Author(s):  
Wooseung Lee ◽  
Boyoung Kim
Keyword(s):  
Market Orientation ◽  
Driving Force ◽  
Government Support ◽  
Flow Experience ◽  
Factors Affecting ◽  
Business Sustainability ◽  
Emerging Nations ◽  
The Government ◽  
Start Ups ◽  
New Jobs

Since the mid-2000s, start-ups have increasingly become the driving force of new jobs and growth engines for advanced countries, and emerging nations are striving to vitalize start-ups through active government support policies. However, approximately 30% of start-ups shut down within two years of their foundation. Accordingly, this study determines the factors affecting the business sustainability of start-ups as based on available government support and provides suggestions to increase the effectiveness of the government-supported projects. This study conducted a survey of 273 start-ups in Korea, and empirically analyzed whether factors such as entrepreneurship, market orientation, and network affected business sustainability by using flow experience and entrepreneurial satisfaction as mediators. The results found that entrepreneurship affected business sustainability with flow experience and entrepreneurial satisfaction as the mediators, while market orientation affected business sustainability using flow experience as the mediator, and network affected business sustainability with entrepreneurial satisfaction as the mediator.

scholarly journals XXIII.—The Clyde Sea Area

1892 ◽  
Vol 36 (3) ◽  
pp. 641-729 ◽  
Author(s):  
Hugh Robert Mill
Keyword(s):  
The West ◽  
Experimental Physics ◽  
University Of Edinburgh ◽  
Marine Station ◽  
The Government ◽  
Government Grant ◽  
One Year ◽  
The University ◽  
Clyde Sea ◽  
Sea Area

The fjord-like inlets or sea-lochs which form so conspicuous a feature in the scenery of the west of Scotland stand in marked contrast to the shallow, low-shored firths of the east coast. When Dr John Murray decided to extend the physical and biological work of the Scottish Marine Station to the west coast he foresaw that many interesting conclusions were likely to be derived from the study of these isolated sea-basins. Various papers, published by him and other workers, contain preliminary discussions of many of the phenomena observed, fully justifying the anticipations which had been formed.For one year my work, as described in this paper, was carried out under the provisions of an Elective Fellowship in Experimental Physics of the University of Edinburgh, to which I had been elected in 1886; and subsequently by a personal grant from the Government Grant Committee for Scientific Research. The Committee also devoted several sums of money in payment of expenses in compiling this discussion. The Scottish Marine Station throughout gave the use of the steam-yacht “Medusa,” and the necessary apparatus.

scholarly journals VIII. On the descending degenerations which follow lesions of the gyrus marginalis and gyrus fornicatus in monkeys

1889 ◽  
Vol 180 ◽  
pp. 331-354
Keyword(s):  
The Other ◽  
Post Mortem ◽  
Cerebral Lesions ◽  
Series Of Experiments ◽  
The Government ◽  
Government Grant

The following paper contains the record of an investigation into the degenerations which follow lesions of the gyrus marginalis and gyrus fornicatus in Monkeys. The work has been carried on under my direction by Mr. France, with the aid of a grant from the Government Grant Fund, and represents part of a long investigation into the degenerations which follow artificially produced cerebral lesions, the material for which has been furnished by cases operated upon in conjunction respectively with Professor V. Horsley and Dr. Sanger Brown. These cases and the physiological results of the operations have already been published in the ‘Philosophical Transactions.’ The experiments here dealt with, twelve in number, comprise only the lesions of the gyrus marginalis and gyrus fornicatus, and, with one exception (case 12), are taken from the series of experiments performed in conjunction with Mr. Horsley. Of the twelve cases, six were of removal, or attempted removal, of the gyrus marginalis, and six of removal, or attempted removal, of the gyrus fornicatus. But in only one or two instances was the lesion, as determined by post-mortem examination, exactly limited to the convolution which it was attempted to remove, for in most cases the adjacent gyrus was to a certain extent involved in the injury. This was especially the case when removal of the gyrus fornicatus had been attempted, on account of its deep situation, and the difficulty of getting at it without some manipulation of the superjacent gyrus. Nevertheless, the removal of one or the other gyrus was sufficiently complete in all the cases here selected to produce characteristic symptoms and characteristic descending degenerations.

scholarly journals Solar eclipse of May 28, 1900. Preliminary report of the expedition to the south limit of totality to obtain photographs of the flash spectrum in high solar latitudes

1901 ◽  
Vol 67 (435-441) ◽  
pp. 370-385 ◽  
Keyword(s):  
Solar Eclipse ◽  
Royal Society ◽  
Preliminary Report ◽  
The South ◽  
Astronomical Society ◽  
Royal Astronomical Society ◽  
The Government ◽  
Flash Spectrum ◽  
Government Grant

This expedition was one of those organised by the Joint Permanent Eclipse Committee of the Royal Society and the Royal Astronomical Society, funds being provided from a grant made by the Government Grant Committee. The following were the principal objects which I had in view in arranging the expedition:— To obtain a long series of photographs of the chromosphere and flash spectrum, including regions of the sun’s surface in mid-latitudes, and near one of the poles.

Impact of Covid-19 on women entrepreneurship in India

2021 ◽  
Vol 13 (1) ◽  
pp. 127-135
Author(s):  
Hiren Rana ◽  
◽  
Dr. Ninad Jhala
Keyword(s):  
Supply Chain ◽  
Business Model ◽  
Small Businesses ◽  
Financial Crises ◽  
Global Economy ◽  
Demand And Supply ◽  
The Government ◽  
Government Rules ◽  
Start Ups ◽  
Roll Back

The current pandemic of COVID 19 proliferated from China since December 2019 over the globe. Since then it has a significant effect visible on the global economy and living pattern of life. India is the fifth richest country abruptly affected after China and America. India is known for innovative start-ups and the business model collapsed due to the reduction in demand and supply chain because the sudden outbreak of COVID 19 resulted in complete lockdown. During COVID 19 pandemic, the government has taken new initiatives to reborn the entrepreneurs of India. However, many industries, small businesses, start-ups were rolling behind due to financial crises. There were no options for entrepreneurs to rely on the government rules, regulations to roll back in the market.

The Four-Shilling Grant

1896 ◽  
Vol 42 (176) ◽  
pp. 136-137
Keyword(s):  
Local Government ◽  
Annual Meeting ◽  
Public Institutions ◽  
The Government ◽  
Government Grant ◽  
Proper Authority

We observe that the important question of the Government Grant has been again before the Lancashire Asylums Board. It would appear that the resolutions of the County Councils' Association were in favour of extending the four-shilling grant to chronic pauper lunatics maintained in workhouse wards under special regulations, and to idiots maintained in public institutions. It was pointed out, however, that there was a material departure from the resolution adopted by the Lancashire Board, which prescribed that, before the grant was to be extended in that manner, the patients must have been treated in an asylum—a period of two years having been mentioned, thereupon a deputation to the Local Government Board was appointed, and the Lancashire Asylum authorities are to be congratulated upon having made a stand for their own opinion. The treatment of acute insanity cannot be effective under workhouse regulations. An asylum is a hospital, and should receive the mentally-afflicted in the first instance. A workhouse may, under proper authority, be fitted to accommodate harmless dements; and, in the interest of the ratepayers as well as of the insane, such a rearrangement is highly desirable. It is, however, of essential importance that the cases selected for the cheaper, simpler, and less specialised care of workhouse officials should have passed through the local asylum and under the review of the Commissioners. We are not inclined to fix any term of residence in asylums, preferring to leave their physicians unfettered by such a regulation as the two-year limit spoken of at Lancaster. It is quite probable that a very much shorter period of observation would suffice to determine the propriety of passing a hopeless, easily-managed case from an overcrowded asylum to the lunatic ward of the neighbouring workhouse. We need not support these views by lengthy reference to the results obtained in Scotland under such a system as is now recommended, but must congratulate Dr. J. A. Campbell on the eminent success attending the proposal which he brought forward at our Annual Meeting of 1893.

Bank competition, government intervention and SME debt financing

2017 ◽  
Vol 7 (4) ◽  
pp. 478-492 ◽  
Author(s):  
Jianhua Du ◽  
Chao Bian ◽  
Christopher Gan
Keyword(s):  
Government Intervention ◽  
Generalized Method Of Moments ◽  
External Debt ◽  
Ordinary Least Squares ◽  
Debt Financing ◽  
Bank Loans ◽  
Bank Competition ◽  
Firm Level ◽  
Content Type ◽  
The Government

Purpose The purpose of this paper is to examine the effects of the government intervention and bank competition on small and medium enterprise (SME) external debt financing in Chinese capital market. Design/methodology/approach This study uses ordinary least squares with standard errors clustered at the firm level. In addition, the authors use the dynamic system generalized method of moments to address the possible endogeneity issue in the regressions. Findings Using a sample of 908 firms from 2000 to 2010, the authors found that SMEs are more likely to access bank loans only in regions with higher level of government intervention than median government intervention. Further, the result shows that the government is motivated to help SMEs to obtain more external debt in regions where the level of bank competition is lower than the median bank competition index. Last, the authors found evidence that firms with politically connected CEOs are likely to access bank loans. Research limitations/implications This paper highlights that government intervention enables the SMEs to secure more bank loans. Second, the authors’ results imply that the government is motivated to help SMEs to obtain more external debt in regions with low level of bank competition. Originality/value This study contributes to the current literature by revealing that government intervention is the driving force alleviating SMEs’ constraints in accessing external financing. Second, this study finds the evidence to supports the argument that government has a strong motive to help SMEs to secure long-term credits for political purpose (Fan et al., 2012), when the level of bank competition is low (Berger and Udell, 2006).

scholarly journals Anniversary Meeting. November 30, 1898

1899 ◽  
Vol 64 (402-411) ◽  
pp. 148-148
Keyword(s):  
Full Report ◽  
Trust Funds ◽  
The Government ◽  
Government Grant

A full Report of the Anniversary Meeting, with the President’s Address and Report of Council, will be found in the ‘ Year-book ’ for 1898-9. The Account of the Appropriation of the Government Grant and of the Trust Funds will also be found in the 'Year-book.'

scholarly journals Agency costs and corporate governance mechanisms in Indian state-owned companies and privately owned companies - A panel data analysis

2014 ◽  
Vol 11 (4) ◽  
pp. 8-17
Author(s):  
Stuart Locke ◽  
Geeta Duppati
Keyword(s):  
Corporate Governance ◽  
Agency Costs ◽  
Panel Data Analysis ◽  
Agency Cost ◽  
Open Market ◽  
Public Companies ◽  
Corporate Governance Mechanisms ◽  
The Government ◽  
Suitable Reference ◽  
The Impact

This paper explores the impact of corporate governance reforms and changing ownership patterns of core public sector enterprises. A number of reforms were introduced by the Government of India in 1991, and intensified in 2004 with the aim of improving efficiency and financial performance across state owned enterprises. The core state enterprises provide a unique opportunity to consider two aspects of the reforms. First, did the reforms have an impact, and second, is there a distinguishable difference between wholly government owned and partially-public shareholding enterprises? The public listed companies provide a suitable reference point for comparison. A comprehensive dataset of 123 SOEs and matching listed public companies for 10 years was collected for the study. A regression approach is adopted with agency cost as the dependant variable and several corporation-specific governance variables. Size and industry are the independent variables. The findings of the study indicate that the agency costs for mixed ownership models tend to be lower than those of the concentrated state-owned firms because they operate in an open market with the market facing the regulatory framework of a competitive environment.

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