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People often look to well-developed networks for insight into the venture capital acquisition process, but many of us live in different contextual environments, and we must be able to craft policies that are practical considering that the venture capital acquisition process may be occurring differently, within a dissimilar network environment. As demonstrated by this study, less developed networks can exhibit certain aspects that are well-developed. Some aspects are not relevant for policy: we cannot realistically establish a stock market in order to facilitate venture capital exits, but we can identify which factors are less-developed, more developed, and in transition, so that policies can be crafted from a strategic point of view. The question for policy makers now is whether to focus on promoting less-developed characteristics to push development of venture capital acquisition, or to further promote well-developed characteristics to pull the process, or to strive instead for balance.

The conventional approach in the theory and econometrics of investment is the partition of gross capital investment in two components: expansion (or net) investment and replacement investment. This thesis examines the latter component. A critical assessment of the literature and the empirical evidence reveal that the prevailing view of replacement known as the "proportional replacement hypothesis" is incorrectly specified and unsatisfactory. / This thesis examines a variety of data brought together under the same focus for the first time and comes up with two important findings. First, firms maintain the operating capacity of their equipment not by replacing the whole of the machine but by replacing worn out or defective parts. The cost of new parts along with that of labour and materials incurred in restoring the operating efficiency of machines are known as "repair expenditures". Data on these expenditures have been collected by Statistics Canada in its investment survey since 1947. Although in effect replacement expenditures, these data are not capitalized by firms and hence do not appear in our conventional investment statistics. Although they account for a significant proportion of capital expenditures they are completely ignored in the theory and econometrics of replacement. Second, expansion and maintenance of production capacity are not the only purposes for which firms invest funds. They also invest for a variety of other purposes, such as modernization, upgrading, retooling, revamping and pollution abatement, for example. These activities lower unit costs of production and enhance the profitability of the firm by initiating or responding to changes in the structure of demand, technology, the prices of factor inputs or the market structure. Such capital expenditures entail changes in capital-output and capital-input specificity. As the real world is characterized by capital and output heterogeneity, structural change therefore implies structural investment. / Important policy implications arise from the above findings. Tax incentives may be more effectively utilized when targeted toward firms undertaking structural investment rather than either expansion or replacement. Since repair expenditures are not included in standard investment statistics, the level of investment spending is significantly higher than conventionally thought. Also our capital stock data, particularly net capital figures, may be more deficient than previously presumed.

Recent studies have focused on the study of social networks among local resource users, but few have attempted to study co-management networks. The objective of the research was to assess the strengths and weaknesses of the Chilean shellfish co-management system from an organizational network perspective. Starting with one detailed case study, representatives of 38 small-scale fisher associations from two administrative regions were interviewed to investigate (1) networks of actors in each co-management arrangement, (2) the functions of these actors in co-management, and (3) fisher perceptions about Chile’s co-management arrangement. Results indicate that decision-making is highly centralized and power is concentrated in government, with little horizontal exchange and cooperation among fisher associations. However, the network approach indicates the presence of a rich set of players, some seven sets of actors by function. Grassroots management innovations are hampered by the existing co-management structure, suggesting that the system may benefit from a modification of the arrangements to allow greater learning-by-doing and increase in flexibility.

Many argue that there is a trade off between profitability and liquidity. However, many studies have found that the profitability can increase with an efficient Working Capital Management. Correctly allocating cash flows to where and when it is needed increases liquidity and simultaneously increasing profitability. The purpose of this study is to develop the research on the relationship between Working Capital Management and profitability by investigating how it is affected by different company characteristics. A quantitative method was applied with philosophical stances in objectivism and positivism and deductive theory was used to approach the subject. From the theoretical framework, five hypotheses were established and statistically tested in order to answer our research question. The first hypothesis was formulated to confirm previous research, while the remaining two aimed at providing both a theoretical and practical contribution to existing knowledge. The thesis centers on the Cash Conversion Cycle, a metric of how fast a company turns purchased products into profit, with Gross Profit Margin as the measure of profitability. The data analyzed is financial information from 2012, collected from a secondary source, Business Retriever database. In order to fulfill the purpose, hypotheses were tested. The first centered in previous research of the subject, while two were introduced based on research of company characteristics. This was tested in a cross-sectional study on the Swedish wholesale industry, covering a sample of 1,485 companies. The companies were segmented by size and whether they were listed or not. By using correlation and regression analyses, the relationship between Working Capital Management and profitability is compared between the different company groups. The conclusion drawn from the study is that there is a positive relationship between the Cash Conversion Cycle and profitability, inconsistent with previous research. However, strong significant results indicated that smaller firms are returning a higher profit, regardless the level of Cash Conversion Cycle. No difference was found in the sensitivity to changes in Working Capital Management strategies. This was true also for non-listed firms, although they were performing worse than listed firms in accordance to the theory presented. The foremost conclusion from the analysis is the weak explanatory power of the Cash Conversion Cycle on Gross Profit Margin. A debate is therefore included, discussing the possibility of lurking variables influencing the results. Keywords: Working Capital Management, Cash Conversion Cycle, Profitability, size, public, private, trade credit, wholesale industry, Sweden

Companies need to be more innovative to exist and sustain profitability in today???s competitive business environment. They try to increase innovation by increasing their internal knowledge through internal and external sources. One of the main external sources that may support firms in improving their capabilities is venture capital (VC). Venture capitalists not only provide financial support for new firms, but also provide value-added activities, such as leadership, administration, marketing and strategic directions. These activities may improve the competitive advantages, productivity, profitability, and innovation of businesses. This study, based on historical data of VC investment and patenting, explores the effects of VC investment on firms??? innovation in different intellectual property rights (IPR) environments and in many industries worldwide, utilizing large datasets and various empirical models. Our negative binomial as well as logistic regression models of the panel data present the significant and positive impacts of VC investment and IPR parameters on increasing business patenting rates under all legal systems, by controlling for cultural, regulatory, and economic and market conditions of the business environment. These rates vary by area. Details of our analysis show that British (Common) and French Civil legal systems, in order, are more effective than other legal platforms, followed by German and Scandinavian. These results can be extended to different world regions and countries, based on their legal system. These outcomes are also supported by detailed analyses on countries. Furthermore, VC investment positively influences most industries but the impact rates differ by industry. In order to adjust our estimations and taking into account any flows in the panel data, we apply robust regression methods and cluster standard errors in the models. In order to test and address endogeneity concerns about the relationship between VC investment and firms??? patenting activities, three methods are applied: reverse causality, the Heckman Selection model, and instrumental variables. The Ease to Do Business index, as a starting business parameter, is our instrument for VC investment and it ranks world economies from the highest to the lowest level. Higher rankings (which translate to low numerical ranks) indicate that the regulatory environment is supportive and simpler for business operations.

Recent studies have focused on the study of social networks among local resource users, but few have attempted to study co-management networks. The objective of the research was to assess the strengths and weaknesses of the Chilean shellfish co-management system from an organizational network perspective. Starting with one detailed case study, representatives of 38 small-scale fisher associations from two administrative regions were interviewed to investigate (1) networks of actors in each co-management arrangement, (2) the functions of these actors in co-management, and (3) fisher perceptions about Chile’s co-management arrangement. Results indicate that decision-making is highly centralized and power is concentrated in government, with little horizontal exchange and cooperation among fisher associations. However, the network approach indicates the presence of a rich set of players, some seven sets of actors by function. Grassroots management innovations are hampered by the existing co-management structure, suggesting that the system may benefit from a modification of the arrangements to allow greater learning-by-doing and increase in flexibility.

As a result of increased interest in the benefit of ties with others, researchers have been exploring the idea of social capital with increasing frequency over the past two decades (Portes, 1998). Although the volume of literature has accumulated and its application expanded, there has been a proliferation of misguided or poorly conceptualized social capital research (Portes, 2000; Furstenberg, 2005). This has not only affected its vigour (Portes, 1998), but has problematized its measurement. Although conceptualizing and defining have been heavily debated through the years, the issue of its measurement has received little more than casual scholarly recognition. Drawing on the works of Charles Lachenmeyer, this thesis offers a unique approach that merges dimensions of social capital measurement with aspects of “good” scientific practices to systematically review a sample of academic articles. Results suggest that assessments of the concept are problematized by article crafting and research-based problems.

This study is an examination of the use of capital punishment in the State of Indiana, from 1897 to the date the last execution in 1961. The biographies of each of the seventy-two men executed during that period are given in detail and pertinent facts derived from them are summarize in a series of tables. The information was obtained from the Data Processing Office of the Indiana State Prison, Michigan City, Indiana.The historical section surveys the many types of capital punishment used throughout the world, from ancient times up to the present. Included are descriptions of crucifixion, live burial, drawing and quatering, the use o the axe and guillotine, and many others. The gradual lessening of the cruelty in the methods of execution is al Pointed out.Since the Indiana criminal law traces its origin to the English common law, an historical study of criminal law as practiced in England is presented. This describes the gradual evolution from the right of personal vengeance to the assumption of the responsibility of capital punishment by the state. When English common law reached its highest development in the Twelfth and Thirteenth Centuries, nine crimes were subject to the death penalty. In 1788, when Indiana was still part of the Northwest Territory, only three of these called for the death penalty, namely: treason, murder and arson resulting in death. After Indiana became state in 1816, the number of crimes punishable by death was changed several times, but only three have been in effect the past hundred years. These are, murder in the first degree, treason and dueling. All of the seventy-two men there were no women) executed by the State of Indiana from 1897 to 1961 were found guilty of murder in the first degree.The conclusions reached by this study of capital punishment as executed in the State of Indiana concur with many other studies of the death penalty, including the landmark United States Supreme Court decision of June 29, 1972.In Indiana, as elsewhere in the United States, the death sentence has been inflicted in an arbitrary and prejudicial manner to a mere handful of actual murderers characterized by ignorance, poverty and often belonging to a minority group. The present warden of the Indiana State Prison stated that he personally can discern no actual difference in the character or characteristics of the men are imprisoned on Death Row from those who were given a life sentence or a lesser term for murder.The reluctance to inflict the death penalty is reflected in the diminishing number executed yearly in Indiana, from 1930 to 1916, just as in the national statistics. From a high of thirty-two executed in the decade of the 1930's, the number has gradually decreased through the years to a total of only one for the decade of 1951 to 1961, when the last execution took place in Indiana.

Recent statistic shows that about 28% of adolescents living in Stockholm drink alcohol at such a high level that their consumption counts as risky drinking. The correct term to use in this matter would be binge drinking adolescents.  In the more wealthy areas of Stockholm this group of binge drinking adolescents counts for as much as a third of the population. In contrast, the adolescents living in exposed areas do not drink nearly as much. Binge drinking adolescents in these areas only counts for 15%, nearly half as much as in the wealthy areas. In light of this the intentions of this study is to investigate which explanatory factors that can clarify the range-rated differences in binge drinking between adolescents in Stockholm. The basis for the analysis is the theory of social capital. In this study specifically, social capital defines as capital inherited from the adolescents’ immediate network.  These networks are their neighborhood, family, school and also the network-belonging that gains from leisure-participation. The analysis also includes control for the effects of parents’ attitudes toward alcohol, parental education and how friends’ drinking habits affect the probability of being risk consumer of alcohol. Furthermore all results are controlled for gender, age, provenance and the adolescences monthly allowance. The empirical material of this study consists of selected parts from the survey “Stockholmsenkäten 2012”. This survey is a cross-sectional study and comprehensive survey which is biennial answered by all Stockholm's public schools 9-th graders and year 2 in high school in.The correlation analyzes in this study is presented in the form of Logistic regression analysis in the statistical program “Statistical Package for the Social Sciences” (SPSS) The results in this study shows that the area-related differences in alcohol consumption cannot be explained by social capital. The young people's drinking habits is rather explained by parental attitudes towards alcohol and also by their friends' drinking habits. The absolute strongest correlation to belong to the group risk consumers of alcohol is when the adolescents have friends who consume alcohol. This statistical correlation persists regardless of geographical area belonging.