The Long-Run Supply and Demand for Venture Capital Funds: Information and Endogenous Entry

2009 ◽  
Author(s):  
Chris Yung
Keyword(s):  
Venture Capital ◽  
Supply And Demand ◽  
Endogenous Entry ◽  
Long Run

MERGE OF THE TECHNİCAL ANALYSİS TYPES GİVES THE BEST RESULTS İN CRYPTOCURRENCY MARKET

2021 ◽  
Vol 6 (14) ◽  
pp. 89-97
Author(s):  
MUSTAFA ÖZYEŞİL ◽  
MOHAMMAD AL-TARIFI
Keyword(s):  
Supply And Demand ◽  
Investment Strategy ◽  
Proof Of Concept ◽  
Market Capitalization ◽  
Long Run ◽  
Peer Network ◽  
Tangible Asset ◽  
The Relationship ◽  
Peer To Peer Network

Cryptocurrencies are a modern kind of financial instrument (Hudson & Urquhart, 2019), the first cryptocurrency is Bitcoin , proposed by who called Satoushi Nakamato (2008), as The open source was created on the proof-of-concept principle that transactions can be securely treated on a decentralized peer to peer network without the need for a central clearinghouse, which appeared 2009 ( Heid, 2013). The success of the bitcoin blazes a trail to what called ‘Altcoin” this expression means all the cryptocurrencies that set in motion after the victory of the bitcoin, these coins sell themselves as the best alternatives for the bitcoin (FRANKENFIELD, 2020) . There are many types for the altcoin. The third type of the cryptocurrency is called Tokens Unlike Bitcoin and Altcoins, tokens are not able to activate independently and are dependent on the grid of another cryptocurrency. That means they do not have their own core DLT or blockchain, but instead, are built on top of an existing cryptocurrency’s blockchain (Types of cryptocurrencies: explaining the major types of cryptos, 2019). The worth of bitcoin doesn’t depend on any tangible asset or economies of the countries while it is based upon the security of an algorithm which traces all transactions (Hudson & Urquhart, 2019). The studies determine the number of the bitcoin price development in the long -run (Ciaian, Rajcaniova, & Kancs, 2018): • Market forces of the Bitcoin supply and demand • The bitcoin’s attractiveness for the investors • The influence of global macro-financial developments If you're forming an investment strategy designed to help you trail long-term financial intentions, understanding the relationship between company size, return potential, and risk is vital. (Market cap—or market capitalization—refers to the total value of all a company's shares of stock, 2017) .Hence , Manifested importance a cryptocurrency’s market capitalization as the total values of all coins currently in circulation. the cryptocurrency’s market cap contains what’s called Bitcoin Dominance that is the ratio between the market cap of bitcoin to other coins of the cryptocurrency markets (jacobcanfield, 2019) . Cryptocurrency trade is attractive type of investment. this market treated the same of the foreign exchange and stock market ( Radityo, Munajat, & Budi, 2017). The investors using the same basic in investment (buy low, sell high) but they need to calculating the risks

An Agent-Based Model to Forecast the Inflation Rate in the Eurozone

2017 ◽  
pp. 72-92
Author(s):  
Juan Luis Santos ◽  
Jagoda Anna Kaszowska ◽  
Tomás Mancha Navarro
Keyword(s):  
Financial Institutions ◽  
Inflation Rate ◽  
Phillips Curve ◽  
Supply And Demand ◽  
Single Agent ◽  
Market Equilibrium ◽  
Agent Based Model ◽  
Agent Based ◽  
Long Run ◽  
Inflation Rates

The aim of the agent-based model presented in this chapter is to explain the determinants of inflation and to forecast the inflation rate in the Eurozone for the next five years. The behaviors of agents and their expectations are interrelated and explained by macroeconomic models applied to heterogeneous agents of three classes: individuals, companies and financial institutions. In addition, the behavior of public sector and central bank is also modeled with a single agent of each kind. Once the quantitative easing policy is implemented, the quantitative theory of money expects higher inflation rates in the long run. Inflation should remain low taking into account the Phillips-Curve. Last, according to the Aggregated Supply and Demand as well as to the Money Market equilibrium, the behaviors modeled allow forecasting low inflation. However, an external shock, as it would be an increase in the price of important commodities, can alter the inflation rate to a great extent.

Venture Capital Reputation, Post-IPO Performance, and Corporate Governance

2011 ◽  
Vol 46 (5) ◽  
pp. 1295-1333 ◽  
Author(s):  
C. N. V. Krishnan ◽  
Vladimir I. Ivanov ◽  
Ronald W. Masulis ◽  
Ajai K. Singh
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Venture Capital ◽  
Market Share ◽  
Initial Public Offering ◽  
Performance Measures ◽  
Ipo Performance ◽  
The Past ◽  
Long Run ◽  
Public Offering

AbstractWe examine the association of a venture capital (VC) firm’s reputation with the post-initial public offering (IPO) long-run performance of its portfolio firms. We find that VC reputation, measured by the past market share of VC-backed IPOs, has significant positive associations with long-run firm performance measures. While more reputable VCs initially select better-quality firms, more reputable VCs continue to be associated with superior long-run performance, even after controlling for VC selectivity. We find that more reputable VCs exhibit more active post-IPO involvement in the corporate governance of their portfolio firms, and this continued VC involvement positively influences post-IPO firm performance.

The effect of supply and demand shocks on the non-market valuation of local public goods

1999 ◽  
Vol 4 (4) ◽  
pp. 471-492 ◽  
Author(s):  
J.R. DESHAZO
Keyword(s):  
Public Goods ◽  
Transition Period ◽  
Supply And Demand ◽  
Local Public Goods ◽  
Cross Sectional ◽  
Demand Shocks ◽  
Supply And Demand Shocks ◽  
Long Run ◽  
Non Market Valuation ◽  
Spatial Arbitrage

For local public goods, supply or demand shocks may create periods during which it is welfare enhancing for households to undertake spatial arbitrage by relocating residentially. We point out that the magnitude and direction of the average benefit estimate obtained during such a transition period is likely to vary systematically depending upon the magnitude of the shock, the level of transaction costs and the extent to which other affected goods are substitutes or complements. We test a subset of our model's predictions using cross-sectional data on household demand for improved municipal services in post-socialist Romania. Our preliminary empirical analysis suggests that there have been substantial gains in welfare resulting from spatial adjustment following the opening up of housing markets. Furthermore, our results indicate that benefit estimates for improved water services during the transition may be substantially higher than long-run estimates. This limited evidence supports our concern that economists may recommend non-optimal levels of long-run investment, regulation, or user fees if they are unaware of the implications of future readjustment to supply or demand shocks.

scholarly journals Supply-Side and Demand-Side Cost Sharing in Health Care

1993 ◽  
Vol 7 (4) ◽  
pp. 135-151 ◽  
Author(s):  
Randall P Ellis ◽  
Thomas G McGuire
Keyword(s):  
Health Care ◽  
Cost Sharing ◽  
Health Care Services ◽  
Financial Risk ◽  
Supply And Demand ◽  
Supply Side ◽  
Demand Side ◽  
Health Care Demand ◽  
Financial Risk Protection ◽  
Long Run

In health markets, the price paid by insured consumers when health care services are demanded can be set separately from the price paid to providers when services are supplied. This fact suggests two alternate strategies for controlling the costs of health care: demand-side cost sharing, where patients must pay more in co-payments or deductibles, and supply-side cost sharing, which seeks to alter the incentives of health care workers to provide certain services. We review the rationale, limits, and comparative advantage of demand- and supply-side cost sharing in health care while primarily focusing on the short-run pursuit of consumer financial risk protection and efficiency. We then turn briefly to the long-run issue of technology adoption, as well as the how supply- and demand-side cost sharing may affect the fairness of the health system.

scholarly journals Fighting Fire with Fire: Optimality of Value Destruction to Mitigate Short-Termism

2021 ◽  
Author(s):  
Adrian Aycan Corum
Keyword(s):  
Venture Capital ◽  
Firm Value ◽  
Private Equity ◽  
Added Value ◽  
Operating Costs ◽  
Endogenous Entry ◽  
Short Term ◽  
Short Termism

I study a model of short-termism where a firm's value is affected by the actions of an agent, who can represent the manager or the board, as well as an entrepreneur, venture capital, private equity, or activist shareholder. The agent either has a project with positive NPV and can further increase the NPV by exerting effort, or has a project that destroys value. The agent has a stake in the company and can liquidate it before the NPV of his actions is realized by the market. This ability to exit creates short-term incentives for the agent to not exert effort, as well as opportunities for him to profit even if he is destroying value. I find that replacing a fraction of agents that have positive NPV projects with value-destroying agents can increase average firm value, because it motivates the value-creating agents to work harder and this effect can dominate the added value destruction. Moreover, this result also holds under endogenous entry of agents: Reducing the entry or operating costs for the agents can increase average firm value and gross value destruction simultaneously, even though the fraction of agents with positive NPV projects decreases. Therefore, regulations that aim mitigating short-termism by curbing value destruction can actually yield opposite results and reduce average firm value instead.

scholarly journals Pricing And Long-Run Performance Of The Venture-Backed And Nonventure-Backed IPOS

2011 ◽  
Vol 2 (6) ◽  
Author(s):  
Arvin Ghosh
Keyword(s):  
Stock Market ◽  
Venture Capital ◽  
Initial Public Offerings ◽  
Cash Flows ◽  
Venture Capitalists ◽  
Regression Equations ◽  
Public Offerings ◽  
Long Run ◽  
First Time ◽  
Prevalent Form

Initial Public Offerings (IPOs) were the most prevalent form to raise capital by firms wanting to go public during the last decade (1990 2000) in the United State. There were thousands of firms that went public for the first time, mostly in the technology-heavy NASDAQ stock market. Along with the regular IPOs came the IPOs backed by venture capitalists, who specialize in financing promising startup companies and bringing them public. As one-third of the IPOs were backed by venture capitalists during 1990 2000, our purpose here is to examine the pricing and long-run performance of the venture-backed and nonventure-backed IPOs that were issued in the NYSE and NASDAQ stock market during the period covered by our study. We have found, among others, that the venture-backed IPOs performed much better as compared to the nonventure-backed IPOs. The returns of the former were consistently higher than the latter during 1900 2000. Also, the price returns as well as the operating ratios and the growth of cash flows, were higher both in the NYSE and NASDAQ market. The regression equations also confirmed closer association with the independent variables belonging to the IPOs backed by venture capital than the non-venture capital.

Sign in / Sign up

Export Citation Format

Share Document