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Demography and Innovative Entrepreneurship

Bönte, Werner; Falck, Oliver; Heblich, Stephan - Wirtschaftswissenschaftliche Fakultät, … - 2007

Demographic change will be one of the major challenges for economic policy in the developed world in the next decades. In this article, we analyze the relationship between age structure and the number of startups. We argue that an individual's decision to start a business is determined by his or...

Persistent link: https://www.econbiz.de/10005090571

Financial Signaling by Innovative Nascent Entrepreneurs

Audretsch, David B.; Bönte, Werner; Mahagaonkar, Prashanth - Wirtschaftswissenschaftliche Fakultät, … - 2009

innovation as well as the project's feasibility. Our analysis of 900 nascent entrepreneurs finds that patents and prototypes … increase the likelihood of obtaining equity finance. Thus, if signals are credible, innovation positively impacts external … that the relation between finance and innovation depends on the stage of a start-up lifecycle. …

Persistent link: https://www.econbiz.de/10005090597

Financial signaling by innovative nascent ventures: The relevance of patents and prototypes

Audretsch, David B.; Bönte, Werner; Mahagaonkar, Prashanth - In: Research Policy 41 (2012) 8, pp. 1407-1421

External finance is a central issue for innovative nascent ventures. In this study, we argue that innovative nascent ventures may use patents to signal appropriability and prototypes to signal feasibility to potential investors. Using new data on 906 nascent ventures, we find that nascent...

Persistent link: https://www.econbiz.de/10011046471

Financial Signalling by Innovative Nascent Entrepreneurs

Audretsch, David B; Bönte, Werner; Mahagaonkar, Prashanth - C.E.P.R. Discussion Papers - 2009

innovation to the financiers through patenting and prototyping activities, right in the early stages of the venture. We build a …

Persistent link: https://www.econbiz.de/10005656288