Andrieu, Guillaume; La Rocca, Maurizio; La Rocca, Tiziana; … - 2021
This paper investigates the bank financing policy of new small and medium-sized enterprises (SMEs), its evolution and … relationship between debt financing and the life cycle. First, our results reveal the dynamics of firms’ financial behavior … relative to age. The relation between debt financing and entrepreneurial firms’ growth is remarkably unstable over time. Debt …