| Autor: |
Guido Massimiliano Mantovani |
| Rok vydání: |
2017 |
| Předmět: |
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| Zdroj: |
The Financial Value of Entrepreneurship ISBN: 9781137391490 |
| DOI: |
10.1057/978-1-137-36537-8_7 |
| Popis: |
Modern entrepreneurial finance practice needs to rethink traditional corporate finance practice from an asset-backed to a competence-driven framework. This is a direct consequence of the critical role of human capital (chiefly, the entrepreneur’s role) to the long-term performance of any modern business. Short-termism in the financial system may be a direct consequence of the inability to have sound estimation of the competence value; a problem that this book attempts to solve. But wider contribution of the human capital is required inside financial intermediary’s business, too. In fact, the traditional trade-off between debt and equity capital needs to be replaced by the new asset-in-place vs. competence-based articulation of financial products. This final chapter gives some insights about these practices to fund the entrepreneurial life cycles. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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