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to a lack of formal Accounting system and financial management, which leads to weaknesses in their internal financial … explorative way: some relevant Accounting and Finance applications present in the market, based on criteria decided by exploring … the scientific literature and evaluating it by interviewing Accounting professionals working in start-ups in Germany. The …
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This paper investigates how patent applications and grants held by new ventures improve their ability to attract venture capital (VC) financing. We argue that investors are faced with considerable uncertainty and therefore rely on patents as signals when trying to assess the prospects of...
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The Organisation for Economic Co-Operation and Development (OECD) recently proposed an interest barrier to fight tax base erosion and profit shifting (BEPS). We use the introduction of such an interest deductibility restriction in Germany as a quasi-experiment and find significant corporate...
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The theoretical literature suggests that when taking tax effects into account, debt ought to be preferable to equity. However, there are no uniform predictions of the size of this tax benefit (tax shield) in comparison to an opposing increasing cost of debt (especially insolvency costs). The...
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