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In the process of venture capital, due to the influence of incomplete and asymmetric information, neither of the two sides can grasp all information, but have their own information superiority. Therefore, both venture capitalists and entrepreneurs have motives to seek private benefits, and their rational choice is speculation, which leads to double moral hazard. In this situation, their speculation...
Under the financial crisis, it is important for China to make use of public-private partnerships (PPP) for infrastructure construction. This paper emphasizes multi-task bundling of PPP on the condition of incomplete contracts and asymmetric information, involving the bundling of two tasks of building and operating infrastructures used for the provision of public services, as well as that of three...
Value chain theory is a rising direction of contemporary economics. The technology subrogation, corporate restructuring and other action in the process of creative destructions are centered on the value chain. The paper try to analysis the conditions, mechanism and ends of value creating in the process of creative destruction thoroughly and to discuss what effect different value chain will have on...
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