The paper deals with the analysis of causal effects of venture capital finance for start-ups founded between 1991 and 1998 in Germany. The number of venture-backed firms is based on the identification of involvements of venture capitalists in firms. All venture capital companies are considered,...

The determinants of transitions between different states of financial distress are analyzed using two versions of Markov chain models: a multinomial logit model without random effects and a multinomial logit model capturing such unobservable factors. The empirical analysis is based on a panel...

Diese Studie versucht Eigenschaften zu identifizieren, die das Beschäftigungswachstum junger deutscher Unternehmen in den neunziger Jahren beeinflussen. Um für die unterschiedlichen wirtschaftlichen Rahmenbedingungen zu kontrollieren, werden die empirischen Analysen getrennt für Ost- und...

The paper deals with growth determinants of innovative and noninnovative start-ups in Eastern and Western Germany. Based on theoretical approaches explaining the growth of firms, hypotheses on potential determinants are derived. The empirical results indicate strong correlations between average...

The present paper deals with the question whether 'Gibrat's law' is applicable to firms founded between 1989 and 1996 within the Western German manufacturing sector or not. The underlying assumption is that size of a firm has no influence on its growth. Growth is rather determined by a process...

This empirical analysis deals with the determinants of growth and the explanation of variations in the growth between innovative and non-innovative start-ups. Based on theoretical models explaining the growth of firms, hypotheses on potential determinants are formulated. The regression results...

In this paper we examine causal effects of German public assistance programs for young firms administered by the Deutsche Ausgleichsbank (DtA). The empirical analysis is based on a combined data set with information from the ZEW Entrepreneurship Study and the DtA data base that contains all...

This paper seeks to empirically identify factors that influence the probability of being a fast growing firm in Eastern and Western Germany. Descriptive analyses have shown that most firms experience only small positive or negative employment growth or stagnate over time. The job generation...