VC-backed SME investment. The moderation effect of VC ownership reduces the magnitudes of the positive impact of cash …

.S. employers to estimate the effects of financial access on employment growth. Our methods combine regressions with matching on … firm age, size, industry, year, and employment history, and with instrumental variables capturing ease of access to SBA … constraints impede small business growth prior to loan receipt. We also investigate the variation in estimated employment effects …

associated with a reduction in firm revenue and employment growth. Exploiting sectoral variation, we find that the leverage …