Publications [#267001] of Leslie M. Marx

Journal Articles

1. Marx, LM, Efficient venture capital financing combining debt and equity, Review of Economic Design, vol. 3 no. 4 (January, 1998), pp. 371-387, Springer Nature, ISSN 1434-4742 [doi]
   (last updated on 2026/01/15)

   Abstract:
   I present a model of venture capital contracting in which contracts that involve a mixture of both debt and equity are efficient and dominate pure-equity and pure-debt financing. The optimal contract balances the venture capitalist's incentive to intervene in the project and the entrepreneur's desire for control. © Springer-Verlag 1998.