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Once bitten, twice shy? The performance of entrepreneurial restarts
Metzger, Georg - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2006
The aim of this paper is to analyze the effect of entrepreneurial experience on firm growth. According to the human capital theory, individuals who have higher ?human capital? are more successful than others. Entrepreneurial experience is a kind of human capital and, therefore, should affect...
Persistent link: https://www.econbiz.de/10005098295
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Firm Closure, Financial Losses and the Consequences for an Entrepreneurial Restart
Metzger, Georg - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2008
Many entrepreneurs who close a business are actually willing to venture anew. However, to realize a restart is not only … restart, the aspect of capital acquisition might be particularly precarious for renascent entrepreneurs since business … is that financial losses due to business closure strongly influence the likelihood of entrepreneurial restart yet only …
Persistent link: https://www.econbiz.de/10005098239
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Personal Experience: A Most Vicious and Limited Circle!? On the Role of Entrepreneurial Experience for Firm Survival
Metzger, Georg - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2007
The analysis in this paper gives attention to effects on firm survival which come from entrepreneurial experience. It is likely that different kinds of experience result in different firm developments and therefore in different types of firm exit. Particular emphasis is placed upon the effects...
Persistent link: https://www.econbiz.de/10005098087
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Personal experience: a most vicious and limited circle!? On the role of entrepreneurial experience for firm survival
Metzger, Georg - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2007
The analysis in this paper gives attention to effects on firm survival which come from entrepreneurial experience. It is likely that different kinds of experience result in different firm developments and therefore in different types of firm exit. Particular emphasis is placed upon the effects...
Persistent link: https://www.econbiz.de/10005098247
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Business closure and financial loss: Who foots the bill? Evidence from German small business closures
Metzger, Georg - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010
This paper explores how different reasons for business closure impact the probability that financial loss will be suffered by creditors. Using German small business data, the study finds that business closure due to financial problems is strongly correlated with a likelihood of financial loss....
Persistent link: https://www.econbiz.de/10008494185
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On the Role of Entrepreneurial Experience for Start-up Financing: An Empirical Investigation for Germany
Metzger, Georg - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2007
Entrepreneurs are often faced with problems regarding start-up financing. But compared to novice entrepreneurs, experienced entrepreneurs should have both more knowledge and better contacts, which should potentially reduce the occurrence of problems and affect finance composition. However,...
Persistent link: https://www.econbiz.de/10005097812
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On the Role of Entrepreneurial Experience for Start-up Financing: An Empirical Investigation for Germany
Metzger, Georg - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2007
Entrepreneurs are often faced with problems regarding start-up financing. But compared to novice entrepreneurs, experienced entrepreneurs should have both more knowledge and better contacts, which should potentially reduce the occurrence of problems and affect finance composition. However,...
Persistent link: https://www.econbiz.de/10005098192
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Dynamics in ownership and firm survival: evidence from corporate Germany
Heiss, Florian; Köke, Jens - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2001
This study investigates the determinants of changes in corporate ownership and firm failure, taking into account different types of sellers and buyers of control blocks. For a large panel of German corporations we find that firms are more likely to fail or to be sold when performance is poor,...
Persistent link: https://www.econbiz.de/10005097846
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Determinants of acquisition and failure: stylized facts and lessons for empirical studies
Köke, Jens - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2001
This study provides new stylized facts on the determinants of corporate failure and acquisition in Germany. It also offers important lessons for the design of empirical studies. We show that firms experiencing failure or acquisition are significantly different from surviving firms on a number of...
Persistent link: https://www.econbiz.de/10005098062
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The rat race of capital structure research for REITs and REOCs: Two spotlights on leverage
Hohenstatt, Ralf; Steininger, Bertram - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011
This paper presents a dynamic multi-equation model based on a balance sheet identity, where technical aspects of capital structure are highlighted through separately observing debt and equity and their relationship to investment. Additionally, leverage dynamics are interpreted in their role for...
Persistent link: https://www.econbiz.de/10009646611