Start-up firms often face difficulties in raising external funds. Employing a unique panel dataset covering 9,715 start-up firms over the period 2007-2009, we find that high-tech startups are less likely to use bank finance and face more difficulties in raising bank finance than low-tech...

In Deutschland wurden in dem Zeitraum 2002 bis 2008 etwa 178 Tsd. Familienunternehmen an einen neuen geschäftsführenden Inhaber übergeben. Das betrifft etwa 7% der Familienunternehmen. Ein Inhaber- und Geschäftsführerwechsel (Unternehmensnachfolge oder Generationenwechsel) stellt eine...

Start-up firms often face difficulties in raising external funds. Employing a unique panel dataset covering 9,715 start-up firms over the period 2007-2009, we find that high-tech startups are less likely to use bank finance and face more difficulties in raising bank finance than low-tech...

Do firms select their main bank relationship according to their risk or risk preferences? Relationship banking is attractive for high risk firms since it improves their access to finance and provides liquidity insurance. Low risk firms instead may not want to bear the additional costs. I employ...