Holger Ludewig's Books

Early Stage Investments in New Technology Based Firms

Analyzing the Changing German Landscape of Venture Capital Finance in the Light of Capital Market Theory and New Institutional Economics

By: Holger Ludewig

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Early Stage Investments in New Technology Based Firms

Analyzing the Changing German Landscape of Venture Capital Finance in the Light of Capital Market Theory and New Institutional Economics

By: Holger Ludewig

Inhaltsangabe:Abstract: In recent years the issue of early stage investment in new technology based firms has drawn considerable attention. Its relevance emerges from the rise of high technology industries in the global economy. As competition in established, mature industries all over the world is ever increasing, the importance of keeping up and increasing the speed of innovation to ensure competitiveness of companies and national wealth is widely recognized. Innovation may concern products or processes. It refers to the development of new proprietary knowledge, i. e. technology, which is embodied in marketable products or services. In as far as the added private knowledge increases the utility of a product to the customers, it adds value. Unless the new features of a product are matched by competitors, a company may earn innovation rents. Thus proprietary knowledge attained through innovation is an important source of strategic advantage. In a competitive, dynamic market, however innovation rents are not sustainable. Competitors will attempt to match and exceed the innovation advantage. This may be achieved by imitation or by adding other or more innovative features. Whereas following the product life cycle model initial growth may be steep and rents may be high for the first mover, imitators competing on price and other rivals competing on innovations, may inflate the monopolistic power of the proprietary knowledge. Striving to maintain and increase market shares and profitability, companies thus have a strong incentive to keep innovating. For new technology-based firms the importance of proprietary knowledge is particularly pronounced. These start-ups operate in a hostile competitive environment, characterized by high uncertainty, offering the potential for rapid growth and high profits on the upside, but also the substantial threat of incurring deep losses on the downside. Whereas large companies generally possess a diversified product portfolio and a host of strategic assets, small companies will need to compete on a single new product or service and the determination of its management team. Politicians, worried by high unemployment and budget deficits, lately fell in love with the high-technology start-ups for their ability to create jobs and ensure future tax revenues. New technology-based firms are drivers of structural change in the economy in that they are among the first to enter new high growth potential industries. For [...]

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Page Count

192

Publisher

diplom.de

Published Date

ISBN 10

383241214X

ISBN 13

9783832412142

The Binocular Handbook

Function, Performance and Evaluation of Binoculars

By: Holger Merlitz

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The Binocular Handbook

Function, Performance and Evaluation of Binoculars

By: Holger Merlitz

This book is a comprehensive technical treatise on binoculars as visual optical instruments. The author begins by discussing the function of binoculars and the properties of human visual perception. Theoretical models for the synthesis of binoculars and the complex interplay of the different components of binoculars are described. Subsequently, the performance limits, as experienced by the observer in a variety of external conditions, are derived. In the concluding section, the book takes the reader outdoors, where they learn to evaluate the properties and limitations of their binoculars in the field, and to recognize possible problems that may be due to manufacturing errors or accidental damages. Thus, a level of knowledge is provided that will enable the reader to fully exploit the capacities of their binoculars. This book is written for those who work professionally with binoculars and are technically interested, but it is equally useful for professional staff working in the optical industry and the distribution of optical instruments. It includes recent discoveries and is easily accessible to anyone who is seriously interested in learning about binocular function. High school level math is useful to understand the derivations, but not needed to comprehend the results, which are discussed and displayed graphically.

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Page Count

224

Publisher

Springer Nature

Published Date

ISBN 10

3031444086

ISBN 13

9783031444081

Surface Grinding of Intermetallic Titanium Aluminides

By: Holger Andreas Gröning

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Surface Grinding of Intermetallic Titanium Aluminides

By: Holger Andreas Gröning

A deductive kinematic model of creep-feed and speed-stroke grinding processes is developed to identify possibilities to reduce the energy introduced into the workpiece. By computer tomography analysis and tactile measurements of the grinding wheel the pore volume and the static cutting edge number are determined and included in the model. Based on the kinematic model and the grinding wheel characteristics an analytical evaluation of the specific grinding energy for speed-stroke and creep-feed grinding is carried out. The deducted process design is evaluated in experimental investigations. The generated model is evaluated by determining specific process values for the grinding forces and the grinding energy.

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Page Count

144

Publisher

Apprimus Wissenschaftsverlag

Published Date

ISBN 10

3863592824

ISBN 13

9783863592820

Early Stage Investments in New Technology Based Firms

Analyzing the Changing German Landscape of Venture Capital Finance in the Light of Capital Market Theory and New Institutional Economics

By: Holger Ludewig

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Early Stage Investments in New Technology Based Firms

Analyzing the Changing German Landscape of Venture Capital Finance in the Light of Capital Market Theory and New Institutional Economics

By: Holger Ludewig

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Solve jigsaw puzzle

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Page Count

192

Publisher

diplom.de

Published Date

ISBN 10

383241214X

ISBN 13

9783832412142

Early Stage Investments in New Technology Based Firms - Analyzing the Changing German Landscape of Venture Capital Finance in the Light of Capital Market Theory and New Institutional Economics

By: Fritz Holger Ludewig

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Early Stage Investments in New Technology Based Firms - Analyzing the Changing German Landscape of Venture Capital Finance in the Light of Capital Market Theory and New Institutional Economics

By: Fritz Holger Ludewig

Diploma Thesis from the year 1998 in the subject Economics - Finance, grade: 2, University of Paderborn, language: English, abstract: Gegenstand der Arbeit ist die Untersuchung der jüngsten Veränderungen in der institutionellen Mikrostruktur des deutschen Kapitalmarktes, die geeignet sind die Bedingungen für die Versorgung junger Technologieunternehmen mit Eigenkapital zu verbessern. Behandelt werden insbesondere die Funktionsweise und zunehmende Bedeutung professioneller Venture Capital-Intermediäre und die hierzu komplementäre Rolle des “Neuen Marktes” in Deutschland. Der Autor zeigt, wie die Finanzierung junger Technologieunternehmen durch strukturelle Imperfektionen des Kapitalmarktes in besonderem Maße beeinträchtigt wird. Unter Berücksichtigung der fundamentalen Aussagen der neoklassischen Kapitalmarkttheorie und der Neuen Institutionenökonomik wird die Hypothese entwickelt, daß die durch die Unvollkommenheit der Märkte bedingten Risikoprämien und Transaktionskosten im Falle von Frühphaseninvestitionen in innovativen Unternehmen besonders hoch sind. Somit besteht im Falle dieser Investitionen eine erhebliche Spanne zwischen den vom Unternehmer zu tragenden Kapitalkosten und den vom Financier empfangenen Nettoerträgen. Bestimmte Institutionen des Kapitalmarktes, d. h. spezialisierte Intermediäre und regulierte Marktsegmente sind geeignet diese Spanne zwischen Kapitalkosten und Nettoerträgen zu vermindern, indem nicht-projektinhärente Risiken oder Transaktionskosten reduziert werden. Das für die Investitionsentscheidung maßgebliche Risiko-Rendite-Verhältnis einer Investition wird somit durch institutionelle Rahmenbedingungen erheblich beeinflußt. Der Autor diskutiert vor diesem theoretischen Hintergrund umfassend die konkreten Veränderungen des deutschen Venture-Capital-Marktes in der jüngsten Zeit und entwirft verschiedene Szenarien für dessen zukünftige Entwicklung. Keywords: Venture Capital, Neuer Markt, Unternehmensgründung, Innovationsmanagement

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Page Count

187

Publisher

GRIN Verlag

Published Date

ISBN 10

3656997993

ISBN 13

9783656997993

Book's by Holger Ludewig

Early Stage Investments in New Technology Based Firms

Early Stage Investments in New Technology Based Firms

The Binocular Handbook

The Binocular Handbook

Surface Grinding of Intermetallic Titanium Aluminides

Surface Grinding of Intermetallic Titanium Aluminides

Early Stage Investments in New Technology Based Firms

Early Stage Investments in New Technology Based Firms

Early Stage Investments in New Technology Based Firms - Analyzing the Changing German Landscape of Venture Capital Finance in the Light of Capital Market Theory and New Institutional Economics

Early Stage Investments in New Technology Based Firms - Analyzing the Changing German Landscape of Venture Capital Finance in the Light of Capital Market Theory and New Institutional Economics

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