The beneficial economic effects of entrepreneurial activity can only be realised if such activity is relatively unconstrained in both product and factor markets, finance has been widely identified as a potential constraint on entrepreneurial activity due to either debt or equity gaps. However,...

This study examines the use of bootstrap financing for a sample of 78 firms in a Midwestern state. The results show that traditional sources of capital accounted for 65% of the firms' start-up capital and 35% of the start-up capital was obtained from bootstrap sources. A Chi-squared analysis...

Mittels einer empirischen Untersuchung (n=208) bei Lüneburger Studierenden wird Ajzens 'Theory of Planned Behavior' - eine einschlägige Theorie zur Erklärung spezifischen Verhaltens- auf die Erklärung der individuellen Gründungsabsicht angewendet. Im Anschluss an die Darlegung des...

In this report, we study the development of Finnish startup firms based on both survey and register data. The sample includes all firms that were founded in the first half of the year 2005, and those firms have been monitored for eight years. We find that entrepreneurs in growth-oriented...

In this study, we analyze the characteristics and development of Finnish startups based on firm-level data available in public databases. By startups we refer to young, small, and independent firms holding basic elements for growth. Some 4 000–5 000 of such firms are being established...

The FinTech market in Germany is a dynamic and growing field that is difficult to observe in its entirety. This report provides a hand-collected market overview of the FinTech market in Germany, as well as an application case in terms of volume estimates for the financing and asset management...

Banks play a special role as providers of informative signals about the quality and value of their borrowers. Such signals, however, may have a quality of their own as the banks’ selection and monitoring abilities may differ. Using an event study methodology, we study the importance of the...

Relationship lending is a common practice in credit financing all over the world, notably also in the European Union, which has been assumed to be particularly beneficial for Small and Medium-Sized Enterprises (SMEs). During recent years, there has been the impression that relationship lending...

Relationship lending is a common practice in credit financing all over the world, particularly in Germany. On the basis of a comprehensive data set comprising information on firm-bank relationships for more than 16,000 observations, this study analyses the determinants of relationship lending in...