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This study investigates the extent to which the pressures from outside stakeholders, specifically the providers of debt and trade credit, as opposed to owner-managers' internal needs explain the use of voluntary audits in micro-companies. Whereas previous studies have mainly focused on how bank...
Persistent link: https://www.econbiz.de/10013021228
I study whether mandatory peer review affects CPA entrepreneurship—that is, CPAs' decisions to start, continue, or cease operating their own CPA firms. In an effort to promote service quality, CPA firms have to be reviewed by other CPA firms to meet licensing requirements. While this peer...
Persistent link: https://www.econbiz.de/10012846945
We study how venture capital firms (VCs), one major capital provider for early-stage entrepreneurial companies, respond to narcissistic entrepreneurs. VCs prefer to invest in companies with narcissistic entrepreneurs. Conditional on making an investment, VCs are more likely to impose contingent...
Persistent link: https://www.econbiz.de/10013405442
Persistent link: https://www.econbiz.de/10010422374
Persistent link: https://www.econbiz.de/10011508654
This paper considers the implications of asymmetric information in capital markets for entrepreneurial entry and tax policy. In many countries, governments subsidize the creation of new firms. One possible justification for these subsidies is that capital markets for the financing of new firms...
Persistent link: https://www.econbiz.de/10001739608
This article is the first one that considers a model of the choice between the different types of crowdfunding, which contains elements of the asymmetric information approach and behavioral finance (overconfident entrepreneurs). The model provides several implications, most of which have not yet...
Persistent link: https://www.econbiz.de/10012925818
This paper considers the implications of asymmetric information in capital markets for entrepreneurial entry and tax policy. In many countries, governments subsidize the creation of new firms. One possible justification for these subsidies is that capital markets for the financing of new firms...
Persistent link: https://www.econbiz.de/10011506206
This article is the first one that considers a model of the choice between the different types of crowdfunding, which contains elements of the asymmetric information approach and behavioral finance (overconfident entrepreneurs). The model provides several implications, most of which have not yet...
Persistent link: https://www.econbiz.de/10012842167
We consider loan guarantees and security token offerings (STOs). If information is symmetric, STOs are better than loan guarantees. Under asymmetric information we identify the highest equity price making imitation unprofitable. A pooling (separating) equilibrium is reached through loan...
Persistent link: https://www.econbiz.de/10013306083