Venture capitalism is not what it used to be. The bountiful returns of the dotcom years are long gone and venture capital (VC) firms are now struggling to exit their investments via initial public offerings or mergers and acquisitions. Also, a new regulatory landscape is threatening to hinder rather than help the industry's recovery, and the companies that VCs invest in require watertight strategies for major growth. VC experts highlighted these issues and others during a recent panel discussion titled, "Business Exits in the Current Economic Environment," which took place at Wharton's campus in San Francisco. The industry has had "pretty big body blows," one panelist noted. But, the speakers agreed, it's time to move on.

Fear is growing that Greece may default on a massive pile of debt, creating a ripple effect of problems throughout Europe and beyond. Following pressure from the European Union and the European Central Bank, the Greek government on March 3 announced a new round of austerity measures that include spending cuts and tax increases which critics fear will harm Greece's economy. Meanwhile, Wall Street banks are facing scrutiny for the complex financial instruments they used to allegedly disguise the country's real debt. What caused Greece's debt problem to spin out of control? And what steps should it take to remedy the situation? Wharton finance professors Richard Herring and Itay Goldstein weigh in.

The severity of Russia's recent economic decline has left many observers wondering why it has done so poorly compared with Brazil, India and China -- its BRIC counterparts -- as well as other oil-rich economies. There's a lot more to the answer than just the bursting of the oil bubble and the global economic crisis. Since the fall of communism two decades ago, Russia's business landscape has gone through a turbulent transition that is still nowhere near complete. Corruption and bureaucratic morass have taken their toll. But without strong prospects for economic and political liberalization, where does Russia go from here?

The question of whether CEOs of America's major companies are overpaid has been a subject of interest for many years. Are the compensation practices for these elite men and women fair and appropriate? Do they provide proper incentives, or do they reward excessive caution or risk taking? Wharton accounting professors John Core and Wayne Guay have just completed a study on this topic. Guay, along with colleague Chris Armstrong, sat down with Knowledge@Wharton to discuss executive compensation and the controversies that it continues to generate.

Big banks have been widely blamed for creating the global financial crisis, and last month the Obama administration proposed several reforms aimed at restricting their activities. Among them is the so-called Volcker Rule -- named after former Fed chairman Paul Volcker -- which prohibits banks from trading for themselves. But will these proposals lead to a healthier banking system and help prevent future crises? Several Wharton professors say that while the proposals have some good aspects, overall they miss the big picture.