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Internet-Based Entrepreneurial Finance : Lessons from Germany
Hornuf, Lars - 2018
The Internet-based crowdinvesting market in Europe has developed significantly since its start in 2007 and has become an alternative source of finance for entrepreneurs to sell securities through the Internet to small investors. This market evidences a great variety in platform design and...
Persistent link: https://www.econbiz.de/10012937825
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Start-up funding via equity crowdfunding in Germany : a qualitative analysis of success factors
Angerer, Martin; Brem, Alexander; Kraus, Sascha; Peter, … - In: Journal of entrepreneurial finance : JEF ; official … 19 (2017) 1, pp. 1-34
Entrepreneurs often struggle to find sufficient funding for their start-ups. A relatively new way for companies to attract capital is via an internet platform, locating investors who in return receive something in return for their ventures. Equity crowdfunding is one of several types of...
Persistent link: https://www.econbiz.de/10011991256
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Four Questions to the Future Dynamics of Financing the German SME Market
Scheuerer, Tim; Peisl, Thomas; Harte, Patrick - 2021
SME lending. A multiple-case approach uses rich data from in-depth expert interviews combines recent data from academic …
Persistent link: https://www.econbiz.de/10013313093
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What drives financing decisions of SMEs? : a survey of German bank advisers
Goeck, Marco; Walther, Ursula - In: Credit and capital markets : Kredit und Kapital 55 (2022) 1, pp. 67-97
This study explores companies' financing decisions from a new perspective, those of the bank advisers, who are deeply involved in the decision processes, but are nevertheless outsiders. In our survey, corporate advisers of a large German bank report their perception of clients' decisions. The...
Persistent link: https://www.econbiz.de/10014518518
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The importance of equity finance for R&D activity : are there differences between young and old companies?
Müller, Elisabeth; Zimmermann, Volker - 2006
This paper analyzes the importance of equity finance for the R&D activity of small and medium-sized enterprises. We use information on almost 6000 German SMEs from a company survey. Using the intensity of banking competition at the district level as instrument to control for endogeneity, we find...
Persistent link: https://www.econbiz.de/10010365872
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Financial Constraints of Private SMEs in Germany : Measurement and Consequences on Corporate Policies
Schauer (neé Klepsch), Catharina - 2016
We examine a large and unique panel containing survey and financial statement data on small and medium sized private enterprises (SMEs) in Germany from 1991 to 2011. From the survey data, we derive a financial constraints measure based on managers' self-perception. We find that our measure...
Persistent link: https://www.econbiz.de/10013007687
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The impact of German public support transfers on firm finance : evidence from the Covid-19 crisis
Gärtner, Leo; Marek, Philipp - 2022
The economic policy response to COVID-19 lockdowns included a variety of measures. Their effects on non-financial firms, however, remain unclear. To shed light on the effect of transfers, we investigate the effect of German emergency aid transfers (November-December aid), a program designed for...
Persistent link: https://www.econbiz.de/10013205580
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Innovation and investment funding in the post-crisis period : have financing patterns and financial constraints of German firms changed?
Schäfer, Dorothea; Stephan, Andreas - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 1, pp. 129-142
. Specifically, we investigate if and how the funding patterns and financial constraints of German small and medium enterprises (SME … mittleren Unternehmen (KMU) seit der Finanzkrise verändert haben. Der Zweck unserer Analyse ist es, zu beurteilen, ob die Ziele … Finanzierungssituation von deutschen KMU tatsächlich verbessern kann. Wir finden über den Untersuchungszeitraum hinweg stabile …
Persistent link: https://www.econbiz.de/10011916059
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Is relationship lending special? : evidence from credit-file data in Germany
Elsas, Ralf; Krahnen, Jan Pieter - 1998 - This draft: February 24, 1998
The German financial market is often characterized as a bank-based system with strong bank-customer relationships. The corresponding notion of a housebank is closely related to the theoretical idea of relationship lending. It is the objective of this paper to provide a direct comparison between...
Persistent link: https://www.econbiz.de/10009768845
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Call for a spatial classification of banking systems through the lens of SME finance : decentralized versus centralized banking in Germany as an example
Gärtner, Stefan; Flögel, Franz - 2014
SME lending. The degree of banks' centralization is also approximated by the spatial concentration of bank employees and …
Persistent link: https://www.econbiz.de/10010380686