Data is a fundamental impediment to a better understanding of the multifaceted process of new firm creation. With better data, we can form a better understanding of the causes, constraints, and outcomes associated with the decision to launch a new business. Towards this end, the Kauffman...

The Kauffman Firm Survey (KFS) was a panel study of new businesses that employed a complex sample design to collect key data about the dynamics of high-technology, medium-technology, and female-owned business entities. Complex sample designs of the type employed in the KFS typically have...

The purpose of this document is to provide instructions to the KFS users regarding the proper use of the KFS multiply imputed data to draw statistically valid inferences in their works. Also, it describes the general framework of the imputation process

While entrepreneurial activity is an important part of our economy, data about U.S. businesses in their early years of operation have been extremely limited. Only recently has it become apparent what important contributions new and young businesses make to job creation and innovation activities....

A Rising Tide: Financing Strategies for Women-Owned Firms is a "must read" for current and aspiring women entrepreneurs who want to learn more about the financial tools and techniques that will help them to launch, develop, and grow their firms.

One main goal of the Community Reinvestment Act (CRA) of 1977 is to stimulate reinvestment by increasing CRA-regulated lending activity in low-income and minority communities. CRA has been applauded for democratizing credit (Barr, 2005) however, its regulatory shortcomings, namely the need to...

We examine the M&A exit behavior of new, young businesses and the way the exit is shaped by their innovative capabilities and their growth in employment. Using a large sample of startups founded in 2004, we find that businesses organized as corporations had very different acquisition outcomes...

This paper finds that the dividend signaling hypothesis is able to explain the phenomenon of asset concentration in short- and medium-term investments in the Islamic interest-free banking system. To maintain a stable dividend payout, managers of Islamic banks will prefer to invest in instruments...

We analyze the impact of firm's asset uniqueness and its growth opportunities on the leasing decisions of U.S. startups. To test our hypotheses, we use a unique dataset provided by the Kauffman Foundation. Our results show that startups in the high-technology sector have a lower propensity to...

In this article, we examine how startup firms finance their operations over time. We empirically test the financial growth cycle theory developed by Berger and Udell (1998) using the Kauffman Firm Survey data, the largest longitudinal data set comprised of all U.S. startups launched in 2004....