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Financial Signaling by Innovative Nascent Entrepreneurs
Audretsch, David B.; Mahagaonkar, Prashanth; Bönte, Werner - Universitätsbibliothek Wuppertal, University Library - 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/10004964265
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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
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Demography and Innovative Entrepreneurship
Bönte, Werner; Falck, Oliver; Heblich, Stephan - CESifo - 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...
Persistent link: https://www.econbiz.de/10005094224
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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
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Innovation, Credit Constraints, and Trade Credit: Evidence from a Cross-Country Study
Bönte, Werner; Nielen, Sebastian - Universitätsbibliothek Wuppertal, University Library - 2010
This paper studies the relationship between trade credit and innovation. While trade credit is well researched in the … finance literature, its link to innovation has been neglected in prior research. We argue that innovative small and medium … partners may have incentives to offer trade credit especially to innovative SMEs. The relationship between innovation and trade …
Persistent link: https://www.econbiz.de/10008465071
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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
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Demography and Innovative Entrepreneurship
Bönte, Werner - 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/10012775851