Hvide, Hans K; Møen, Jarle - C.E.P.R. Discussion Papers - 2007
wealth should do better than those with less wealth. We investigate this hypothesis using a unique datset from Norway …. Consistent with liquidity constraints being present, we find a strong positive relationship between founder prior wealth and … start-up size. The relationship between prior wealth and start-up performance, as measured by profitability on assets …