This paper deals with approving the effect of both a governance system and individual cognitive and emotional features in the financial analysis of a firms’ innovation decision. After discussing the theoretical linking between ownership concentration and the CEO’s attitude and behavior, we...

This paper examines the dynamics trade-off financial structure in presence of ownership dispersion of newly created firms. Our objective is to test empirically the relevance of trade-off theory regards the debt funding behavior of business start-up. We use a sample of 200 business start-ups and...