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According to the existing literature, non-financial performance measures provide managers with incentives to improve long-term financial performance and, on the other hand, financial performance measures provide managers with incentives to improve short-term financial performance. The main reason is, that they are calculated ex-post and mostly cannot predict future performance. In this paper we test this statement and examine whether the use of financial or non-financial performance measures for incentive purposes...

Venture capital is an alternative financial source of small and medium enterprises. In this paper we examine the current state of venture capital usage in selected Central and Eastern European countries. According to the results of the analysis, venture capital is insufficiently used in the most of the Central and Eastern European Countries, especially in the Slovak Republic. As its reasons we identified defects both on the supply side and on the demand side of venture capital market.