Audretsch, David B.; Bönte, Werner; Mahagaonkar, Prashanth - 2009
innovation as well as the project´s feasibility. Our analysis of 900 nascent entrepreneurs finds that patents and prototypes … nascent entrepreneurs use patents and prototypes in order to signal their ability to appropriate the returns from their … increase the likelihood of obtaining equity finance. Thus, if signals are credible, innovation positively impacts external …