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To explore the demand and supply of private capital for successful women entrepreneurs in New Zealand. To obtain and interpret fine‐grained information in order to mitigate the research gap on growth finance for women‐led businesses in New Zealand.

Multiple approaches for data collection and analysis. Includes interviews with key decision makers in the private capital industry and an e‐mail survey of venture capitalists (supply‐side) and the narrated experiences of women entrepreneurs (demand‐side).

Quantifies the degree of women's current participation in the venture capital (VC) industry and delineates key considerations in the private capital investment decision‐making process. Confirms the absence of overt gender discrimination in the VC market but draws attention to the presence of other – some of which are more hidden – considerations which affect mobilisation of private capital by women entrepreneurs.

Highlights that a combination of supply‐side (private capital) and demand‐side (entrepreneurs) influences, as well as country‐specific structural and policy factors, needs to be considered when seeking explanations for the lower incidence of private capital to women business owners.

Mitigates the large research gap on women's entrepreneurship in New Zealand and supplements the literature on the private capital and women's business nexus. Signals the importance of policy considerations in growing the role of private capital.

To propose a new investment-income valuation model by real options approach (ROA) for old community renewal (OCR) projects, which could help the government attract private capital's participation.

The new model is proposed by identifying the types of options private capital has in the OCR project, selecting the option model most suitable for private capital investment decisions, improving the valuation model through the triangular fuzzy numbers to take into account the uncertainty and flexibility, and demonstrating the feasibility of the calculation model through an actual OCR project case.

The new model can valuate OCR projects more accurately based on considering uncertainty and flexibility, compared with conventional methods that often underestimate the value of OCR projects.

The investment-income of OCR projects shall be re-valuated from the lens of real options, which could help reveal more real benefits beyond the capital growth of OCR projects, enable the government to attract private capital's investment in OCR, and alleviate government fiscal pressure.

The proposed OCR-oriented investment-income valuation model systematically analyzes the applicability of real option value (ROV) to OCR projects, innovatively integrates the ROV and the net present value (NPV) as expanded net present value (ENPV), and accurately evaluate real benefits in comparison with existing models. Furthermore, the newly proposed model holds the potential to be transferred to various social welfare projects as a tool to attract private capital's participation.

The aim of this paper is to analyse the relationship between public debt, corporate debt service costs and private capital formation in South Africa.

To capture the long-run characteristic of investment, the study adopts the Fully Modified Ordinary Least Squares approach and tests for cointegration using Hansen (1992)'s Parameter Instability test.

We find that private capital formation increases in domestic debt and decreases in external debt during the pre-crisis period. However, during the period post the Global Financial Crisis, we find evidence of domestic public debt crowding out private capital formation, whereas external debt crowds-in capital formation. Debt service costs are found to reduce investment due to the effect of the debt overhang throughout the period under analysis.

The paper has important implications for macroeconomic policy. In particular, there is need for deleveraging and allocation of a higher proportion of debt to public infrastructure expenditure which has complementary effects on private investment.

Debt overhang signal that South African firms could be over-leveraged, which hinders future growth prospects. Firms that face high levels of debt should consider debt restructuring.

Empirical studies undertaken to explore this relationship have yielded contradicting results suggesting that the relationship between public debt and private investment is heterogeneous depending on a given economy or prevailing macroeconomic environment. In particular, existing research does not provide evidence on whether recent increases in public debt in South Africa have led to crowding-in or crowding-out of private investment. This paper therefore contributes to empirical literature on the impact of public debt on private investment within a small open economy.

This paper suggests that private investment expenditure is determined by the changes in domestic credit and net capital inflow to the private sector. Any increase in government investment increases private investment through the increase in the changes in private output (contributory effect) and decreases private investment through the decrease in the availability of the banking system's domestic credit and net inflow of capital to the private sector.

The purpose of this paper is to provide insights about corporate finance decision-making of Icelandic private firms that have experienced a dramatic financial crisis in 2008–2010. It observes the capital budgeting methods and cost of capital techniques for private firms after a systemic financial crisis. Moreover, the paper identifies the main determinants of capital structure and capita rationing during this period.

This paper surveys corporate finance practices of 80 out of the 250 largest bank-centred private firms after the financial crisis.

Highly leveraged private firms that have experienced a dramatic financial crisis in 2008–2010 use payback and net present value techniques almost at a similar rate when assessing new investments. The sample firms largely rely on the cost of debt to determine the cost of invested capital. However, capital asset pricing model is the most popular method among the few sample firms that estimate the cost of equity. The need to maintain financial flexibility and cost associated with financial distress are the most influential factors regarding capital structures, whereas investment practices avoid capital rationing associated with the financial crisis.

The limitations of the study are that it is country specific and absence of data over the period before the financial crisis that may have been applied to present more insight into this topic.

Sample firms fail to incorporate appropriate cost of capital methods and as the result they are likely to apply incorrect “hurdle rate” which could undervalue or overvalue new investments. This paper indicates that capital budgeting decisions by managers of the bank-centred Icelandic private firms who tend to be major shareholders do not reflect the tendency to expropriate outside and minority investors. Private firms that have emerged from the meltdown of the financial system highlighting the importance of “special” lending relationship in assisting bank-centred firms to avoid the severity of financial constraints.

This study employs a failure of the banking system to provide new knowledge about corporate finance practices of private firms after the financial crisis that have curtailed the access to both internal and external sources of capital.

The purpose of this paper is to examine whether corporate ownership affects corporate capital structure. This study also seeks to find out whether there is difference in dynamics of the capital structure between these two groups of firms.

Based on panel data of China's listed firms from 1998 to 2007, this paper employs a static empirical model to validate the difference in capital structure between these two groups of firms, and then, a dynamic empirical model is used to explore the dynamic adjustment of the capital structure.

The empirical results show that there is structural difference in static capital structure between state-owned and private listed firms. Further study results tell us that the adjustment to an optimal capital structure is to be faster for the private firm than for the state-owned firm.

The findings suggest that compared with state-owned firms, private firms face higher financial friction in financing activities, but have more incentive to adjust toward optimal capital structure to maximize the shareholders' benefit. This study offers insights to corporate managers interested in privatization, when a state-owned firm is privatized, that firm becomes subject to the disciplining forces of the market and more active to pursue maximum market value of the firm, thus the adjustment to an optimal capital structure to be faster for private firm than for state-owned firm.

This paper for the first time looks at the influence of ownership on capital structure, from both static and dynamic perspective. And this study is helpful for regulators, and corporate managers to understand the corporate financial management behavior.

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

To analyse productivity of public expenditures; especially to find out the effect of human capital investment on private sector productivity.

Several measures of public sector capital stock are constructed. These measures are used in testing the effects on private sector productivity. Empirical analysis makes use of cross‐country panel data and utilizes various panel econometric methods.

The main finding is that public sector capital has a positive impact on private sector productivity. Some evidence is provided to the hypotheses that also human capital that is generated within the public sector increases private sector productivity.

There are a lot of measurement problems with the cross‐country data. Also the non‐stationarity of data creates some estimation problems. These may have some impact on the quantitative, but perhaps not on qualitative, nature of results.

Relatively few analysis have made in this area; this is true in particular with comparative (cross‐country) analysis.

Academic research in the USA and more recently in the UK and Sweden, has highlighted public capital as a significant growth determinant. Public capital, it is argued, has a positive effect on private sector output, productivity and capital formation. However, controversy surrounds the empirical results emerging from this literature. Much of the controversy rests on research methods employed. Adds to this body of literature in two ways. First, estimates aggregate production functions for private sector output using Irish data. The stock of public capital is included as an input to investigate the effects of government investment on private sector productivity. Second, uses modern time‐series techniques to test the hypothesis. Employs the Johansen (1988) cointegration testing procedure and error correction modelling on annual data for the period 1958‐1990. These modern techniques produce empirical results which do not support the public capital hypothesis. Suggests several reasons to explain this outcome, and outlines possible policy implications.