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Early-stage firms utilize venture debt in one-third of financing rounds despite their general lack of cash flow and collateral. In our model, we show how venture debt aligns incentives within a firm. We derive a novel theoretical channel in which runway extension through debt increases firm...
Persistent link: https://www.econbiz.de/10012851739
For decades, entrepreneurship and strategy research has been dominated by agent-centric and inward-looking theoretical … new ventures. We analyze the many possible positive effects on entrepreneurship practice and highlight also positive … effects on entrepreneurship research. We illustrate both positives by applying the External Enabler framework. …
Persistent link: https://www.econbiz.de/10012617492
of the innovation and entrepreneurship in Latin-American Countries. …
Persistent link: https://www.econbiz.de/10005836495
In the context of technological transitions, the influence of innovative entrants on incumbents is a major driving force. Using worldwide patent data, the present study analyzes this influence for the case of the transition from combustion engine vehicles towards electrically powered alternative...
Persistent link: https://www.econbiz.de/10011164406
Greece's currently planned institutional reforms will help to get the country going with limited economic growth. With an economy based primarily on tourism, trade, and agriculture, Greece lacks an established competitive industry and an innovation-friendly environment, resulting in a low export...
Persistent link: https://www.econbiz.de/10010884121
Globalization brings both good and bad job news. The bad news is that jobs will be outsourced from high-cost developed countries into lower-cost locations as soon as the associated economic activity becomes mechanized and predictable. The good news is that globalization creates opportunities...
Persistent link: https://www.econbiz.de/10011573609
We investigate the economic and technological determinants inducing entrepreneurs to establish ventures with the purpose of reinventing financial technology (fintech). We find that countries witness more fintech startup formations when the latest technology is readily available, capital markets...
Persistent link: https://www.econbiz.de/10011624337
We investigate the economic and technological determinants inducing entrepreneurs to establish ventures with the purpose of reinventing financial technology (fintech). We find that countries witness more fintech startup formations when the latest technology is readily available and people have...
Persistent link: https://www.econbiz.de/10011624342
Demographic change will be one of the major challenges for economic policy in the developed world in the next decades. In this article, we analyze the relationship between age structure and the number of startups. We argue that an individual's decision to start a business is determined by his or...
Persistent link: https://www.econbiz.de/10010263837
Demographic change will be one of the major challenges for economic policy in the developed world in the next decades. In this article, we analyze the relationship between age structure and the number of startups. We argue that an individual's decision to start a business is determined by his or...
Persistent link: https://www.econbiz.de/10010264224