Financing research and development (R&D) through loans is usually a costly endeavor. Information asymmetry, outcome uncertainty and low collateral value tend to increase the cost of debt. Based on a large panel of heterogeneous firms, this study shows that recipients of public R&D grants, on...

This paper provides a review entrepreneurial finance in emerging industries. First we examined literature to create a view of industrial emergence with reference to systems thinking. We then explored the role of entrepreneurial finance in emerging industries, and whether it can theoretically...

This paper provides a review entrepreneurial finance in emerging industries. First we examined literature to create a view of industrial emergence with reference to systems thinking. We then explored the role of entrepreneurial finance in emerging industries, and whether it can theoretically...

Each country is required to have a clearly formulated and detailed national strategy in the transition period for the purpose of management, stimulation, assessment and funding of innovative technology development process. A range of various funding sources includes private venture capital...