求翻译大师翻译一下英文文献的一段
来源:百度知道 编辑:UC知道 时间:2024/09/13 00:54:15
The original contributions of the paper are first to propose a model where syndication arises endogenously. Syndication is not the unique way to achieve coordination, though. For instance,
contractual arrangements involving transfers between venture capitalists are equally valid in our setting. We view these transfers as less likely, since venture capital investments are typically governed by restrictive fund covenants.3 It is plausible that setting transfers from one fund to another generates additional costs to circumvent the funds investment restrictions. We suggest that syndication, because it avoids direct transfers between venture capitalists, can mitigate these
problems and allow information gathering. Second, we highlight the importance of experience on the formation and efficiency of syndicates, and on the ex post involvement of venture capitalists.To our knowledge, no other theoretical paper considers this dimension.This enables us to propose a number of empirical p
contractual arrangements involving transfers between venture capitalists are equally valid in our setting. We view these transfers as less likely, since venture capital investments are typically governed by restrictive fund covenants.3 It is plausible that setting transfers from one fund to another generates additional costs to circumvent the funds investment restrictions. We suggest that syndication, because it avoids direct transfers between venture capitalists, can mitigate these
problems and allow information gathering. Second, we highlight the importance of experience on the formation and efficiency of syndicates, and on the ex post involvement of venture capitalists.To our knowledge, no other theoretical paper considers this dimension.This enables us to propose a number of empirical p
本文的原始的贡献是提出企业联合组织化出现内在的模型的第一。 企业联合组织化不是独特的方式达到协调,虽则。 例如,
介入在冒险资本家之间的契约安排调动是同样有效的在我们的设置。 我们观看这些调动很少可能地,因为风险投资由限制性资金covenants.3典型地治理振振有词的设置从一笔资金的调动到另一个引起追加成本徊避资金投资制约。 我们建议那企业联合组织化,因为它避免在冒险资本家之间的直接调动,可以缓和这些
问题和允许信息汇聚。 其次,我们突出经验的重要性在企业联合组织形成和效率和在冒险资本家的事后介入。据我们所知,其他理论纸不考虑这个维度。这使我们提出一定数量经验主义的预言和可能的测试。
原来捐款的文件,是首次提出一个模式,聚合产生的内生。组合是不是独特的方式,以达到协调,虽然。举例来说, 合同安排转让涉及之间的风险资本家具有同样的效力,在我国设置。我们认为这些转移不太可能,因为风险资本的投资通常是受限制的基金盟约.3这是似是而非,设定从一个基金,以另一种产生的额外费用,以规避基金投资限制。我们建议联合供稿的,因为它避免了直接转移之间的风险资本家,可以缓解这些问题,并允许收集信息。第二,我们强调的重要性,经验的形成和效率的集团,并于事后介入的风险capitalists.至今据我们所知,没有任何其他理论文件,认为这dimension.这使我们能够提出一些经验性的预测和可能测试。
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不错的在线翻译。
我的天啊,要是我能翻译,我就不用这么辛苦了!!