Entrepreneurs rely on a spectrum of financing options for new companies. I analyze two key aspects: the role of debt and bank loans in the early financing of new firms and the relationship between financing choice and subsequent innovation trajectory. I use microdata in the confidential Kauffman...

Business angels (BAs) and venture capitalists (VCs) are important sources of finance for entrepreneurs in emerging markets for raising start-up and growth capital. Recognising that entrepreneurial investment evaluation decision-making is a highly complex process, and that there are limited...

Mittels einer empirischen Untersuchung (n=208) bei Lüneburger Studierenden wird Ajzens 'Theory of Planned Behavior' - eine einschlägige Theorie zur Erklärung spezifischen Verhaltens- auf die Erklärung der individuellen Gründungsabsicht angewendet. Im Anschluss an die Darlegung des...

In this report, we study the development of Finnish startup firms based on both survey and register data. The sample includes all firms that were founded in the first half of the year 2005, and those firms have been monitored for eight years. We find that entrepreneurs in growth-oriented...

In this study, we analyze the characteristics and development of Finnish startups based on firm-level data available in public databases. By startups we refer to young, small, and independent firms holding basic elements for growth. Some 4 000–5 000 of such firms are being established...

The FinTech market in Germany is a dynamic and growing field that is difficult to observe in its entirety. This report provides a hand-collected market overview of the FinTech market in Germany, as well as an application case in terms of volume estimates for the financing and asset management...

Mittels einer empirischen Untersuchung (n=208) bei Lüneburger Studierenden wird Ajzens 'Theory of Planned Behavior' - eine einschlägige Theorie zur Erklärung spezifischen Verhaltens- auf die Erklärung der individuellen Gründungsabsicht angewendet. Im Anschluss an die Darlegung des...

In a game theoretical setting, this paper studies the entrepreneur's decision making by using a new financing opportunity referred to as crowdinvesting. In this model, the entrepreneur can collect money and advertise his innovative idea. However, crowdinvesting carries the risk of being copied...

This paper reviews the literature on the role of public equity markets in the innovation ecosystem. The review highlights the importance of public equity markets in funding the research and development activities of young and high growth firms. It also illustrates the dependence of venture...

External finance is central for nascent entrepreneurs, people in the process of starting new ventures. We argue that nascent entrepreneurs use patents and prototypes in order to signal their ability to appropriate the returns from their innovation as well as the project´s feasibility. Our...