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Gendered access to finance : the role of team formation, idea quality, and implementation constraints in business evaluations

Bartoš, Vojtěch; Castro, Silvia; Czura, Kristina; … - 2023

We analyze gender discrimination in entrepreneurship finance. Access to finance is crucial for entrepreneurial success … entrepreneurial teams. In a lab-in-the-field experiment with Ugandan loan officers, we document gender discrimination of individual … female entrepreneurs, but no gender bias in the evaluation of entrepreneurial teams. Our results suggest that the observed …

Persistent link: https://www.econbiz.de/10014477359

Public subsidies and the sources of venture capital

Berger, Marius; Hottenrott, Hanna - 2020

Research suggests that public subsidies for newly founded firms have a positive effect on follow-on financing, in particular, Venture Capital (VC). This study differentiates between Government VC, Independent VC, Corporate VC, and Business Angels and shows that public subsidies are not relevant...

Persistent link: https://www.econbiz.de/10012389514

Financing and advising early stage startups : the effect of angel investor subsidies

Berger, Marius; Gottschalk, Sandra - 2021

In recent years governments around the world have introduced policies to stimulate investments in early stage entrepreneurial companies, in particular investments by Angel investors. In this paper we study whether introducing subsidies to Angel investors has effects on startups’ access to...

Persistent link: https://www.econbiz.de/10012622932

Equity crowdfunding and early stage entrepreneurial finance : damaging or disruptive?

Estrin, Saul; Gozman, Daniel; Khavul, Susanna - 2017

Persistent link: https://www.econbiz.de/10011737765

The importance of capital in closing the entrepreneurial gender gap : a longitudinal study of lottery wins

Fleche, Sarah; Lepinteur, Anthony; Powdthavee, Nattavudh - 2021

Persistent link: https://www.econbiz.de/10012542144

The commitment role of equity financing

Fahn, Matthias; Wamser, Georg; Merlo, Valeria - 2017

Existing theories of a firm's optimal capital structure seem to fail in explaining why many healthy and profitable firms rely heavily on equity financing, even though benefits associated with debt (like tax shields) appear to be high and the bankruptcy risk low. This holds in particular for...

Persistent link: https://www.econbiz.de/10011705222

Size matters : "over"investments in a relational contracting setting

Englmaier, Florian; Fahn, Matthias - 2018

The corporate finance literature documents that managers tend to over-invest in their companies. A number of theoretical contributions have aimed at explaining this stylized fact, most of them focusing on a fundamental agency problem between shareholders and managers. The present paper shows...

Persistent link: https://www.econbiz.de/10011895831