This paper investigates whether post-entry performance differs between start-up firms, according to the source of finance. In particular, the relationship between the use of external equity and performance is focused upon. Using an original data set of start-up firms in Japan, we examine the...

Using an original data set of start-up firms in Japan, this paper investigates whether post-entry performance differs between start-up firms, according to the source of finance. In particular, the difference among firms that used entrepreneur' s own savings (insider finance), bank borrowing, and...

Using an original data set of start-up firms in Japan, this paper investigates whether post-entry performance differs between start-up firms, according to the source of finance. In particular, the difference among firms that used entrepreneur' s own savings (insider finance), bank borrowing, and...