draft: 25th November‚ 2002 ABSTRACT We study the determinants of equity and loan financing in an equilibrium model of financial markets with adverse selection. In our model all agents are endowed with initial wealth and choose to invest as entrepreneurs or financiers‚ or not to invest. We find that i) equilibrium financial contracts are either equity-like or “pure” debt contracts; ii) agents only earn rents when employing pure debt contracts; iii) When agents split in their occupational choices
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Panino Restaurant The entrepreneur that I interviewed was Lydia Patterson. In 1989‚ Lydia and her husband‚ Lou‚ decided to start planning to open up a new Italian restaurant in Virginia. The restaurant industry‚ especially in the Washington DC area is very competitive. It is highly competitive with respect to price‚ value and promotions‚ service‚ location‚ and food quality. There are a substantial number of restaurant operations that compete for customer traffic‚ some of which have significantly
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A Dream of A Social Entrepreneur “I have a dream that in the near future‚ Ecolife Café will become the bridge of knowledge for people in Phu Long and promote Community Ecotourism for the Protection of Mangrove so that tourists and foreigners will know and love the community initiatives to protect the green environment here‚ and then have a chance to experience life with local people in our island.” Lying on the coastal island of Cat Hai‚ Hai Phong City‚ Phu Long commune’s population is consisted
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Howard Gardner is a developmental psychologist who is most famous for his Theory on Multiple Intelligence. This paper will discuss Gardner’s life as well as his theory and how he has changed the world of education for all students and teachers. Howard Gardner is a developmental psychologist. He was born in Scranton‚ Pennsylvania on July 11‚ 1943. His parents were Ralph and Hilde Gardner. They were German- Jewish immigrants who fled Germany before World War Two. Growing up a good education was very
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Howard Becker’s labeling theory starts off by identifying the deviant. Once you get caught doing something‚ you are identified and labeled for it; it can either be formal as labeled under the law or informal as in labeled with in family and friends. For example‚ I had two very good friends in high school‚ Serafin and Brian. They were best buds and always did everything together. Like many teenagers in high school they started to experiment with drugs. Like every other day they would both go smoke
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Howard Gardner viewed intelligence as ’the capacity to solve problems or to fashion products that are valued in one or more cultural setting’ (Gardner & Hatch‚ 1989). Howard Gardner initially formulated a list of seven intelligences. The first two have been typically valued in schools; the next three are usually associated with the arts; and the final two are what Howard Gardner called ’personal intelligences’. The Seven Intelligences Gardner stated is the following: • Linguistic Intelligence-involves
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Candace Allen’s article titled “The Entrepreneur as Hero”‚ she introduced that every society needs heroes. First she said that heroes go to the unknown. Second is the encountering of the hardship and challenges. Third is the return with something new. The author tries to compare the pattern of the hero to the entrepreneur‚ finding themselves in a difficult situation then finding ways to get a solution. Furthermore‚ she also mentioned that “The heroic entrepreneur will continue to anticipate what the
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* An entrepreneur is a risk taker. They operate a business‚ but in order to start the business they must take a risk. The role of the entrepreneur The role of the entrepreneur is to identify a new idea or a new way of offering a good or a service‚ or to adapt an existing product or service. This involves : * An element of risk The characteristics of successful entrepreneurs Joe buys a café and employs 7 people‚ what are his most important characteristics of an entrepreneur? * Leadership
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Successful entrepreneurs are specialized types of leaders that have a definite set of leadership characteristics that make them good at what they do--motivate people. Successful entrepreneurs are usually very focused in their vision and are immersed in making their venture successful. A good entrepreneur uses a dynamic and charismatic approach to motivate their employees to feel the same sort of feelings of success that he or she feels towards the ultimate success of the business. Howard Shultz‚ the
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Famous Canadian Entrepreneurs James Hillier and Albert Prebus (Electron Microscope) James Hillier‚ one of the entrepreneurs of the electron microscope‚ was born on August 22nd‚ 1915 in Brantford‚ Ontario. He attended the University of Toronto‚ where he received a PhD in 1941. After graduating‚ Hillier spent most of his career at the Radio Corporation of America (or RCA)‚ discovering the principle of stigmator‚ which is used to correct astigmatism in a microanalyser‚ while being the first person
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