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Entrepreneurship Capital and Economic Performance

Audretsch, David B.; Keilbach, Max - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2004

capital. In this paper we introduce a new factor, entrepreneurship capital, and link it to output in the context of a … production function model. This paper explains what is meant by entrepreneurship capital and why it should influence economic … output. A production function model including several different measures of entrepreneurship capital is then estimated for …

Persistent link: https://www.econbiz.de/10005765247

Financing High-Tech Growth: The Role of Debt or Equity

Audretsch, David B.; Lehmann, Erik E. - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2004

Using a data set of the firms listed on the Neuer Markt in Germany, this paper demonstrates that venture backed firms differ from firms with other financial resources, especially debt. Thus, the results of this study provide evidence for the hypothesis that small and innovative firms are more...

Persistent link: https://www.econbiz.de/10005765249

The Effects of Experience, Ownership, and Knowledge on IPO Survival: Empirical Evidence from Germany

Audretsch, David B.; Lehmann, Erik E. - Max-Planck-Institut für Ökonomik, Max-Planck-Gesellschaft - 2004

We study the implications of ownership and its induced incentives on firm survival on the stock market for young and high-tech firms. Using a unique data set of all 341 firms listed on the Neuer Markt, the German counterpart of the NASDAQ, our results differ from studies on more traditional...

Persistent link: https://www.econbiz.de/10005765285