The aim of this study is to explore the previously unresearched outcomes of firms funded through equity crowdfunding, a novel type of entrepreneurial finance. We study the outcomes of a sample of 337 firms funded on equity crowdfunding platforms in Europe between 2009 and 2014. By incorporating...

This article provides an overview of sources of finance and some patterns of financing for entrepreneurial firms in Canada. Based on Miglo (2018), we compare the predictions of major theories of entrepreneurial finance (flexibility theory of capital structure, asymmetric information, credit...

Flexibility theory of capital structure, asymmetric information, credit rationing, life cycle theory and market timing are consistent with many patterns of financing of entrepreneurial or small/medium size enterprises (SME) in Canada. Tax theory of capital structure does not seem to play a...

Entrepreneurial ventures often face liquidity constraints. While governments have intervened with programs subsidizing R&D projects, these programs may have their effectiveness undermined by the restrictions they impose on subsidy recipients. We study the impact on venture outcomes of one...

This paper reflects on the policy formation process in the burgeoning area of government’s involvement venture capital finance (VC) over the two decades 2000-2020. It looks at both why and how government VC funds (GVC) have evolved. The increasingly common vehicle of ‘hybrid’ co-investment...

The paper investigates the existence of a pecking order in new technology-based firms (NTBFs) financing, and provides an evidence on factors determining what source of capital NTBFs try to access. The authors pay particular attention to aspects of human capital such as age, education and...

This paper deals with the question of whether public venture capital (VC) is performing its task properly, taking a look at how public VC companies' selection process, investment behavior, and consulting services reflect goals that differ from those of private VC firms. The results present...

The paper deals with the issues of investment of hybrid and public venture capital funds. The results show that hybrid and public venture capital funds in Latvia in most cases are the first investors. Only a smaller part of these investments are investments of the early stages of funding. The...

The current article examines the issue of financing the micro-enterprises of Latvia by venture capital funds. It considers the number of applications submitted by enterprises to venture capital funds, the number of investments and the amount of the financing granted to enterprises in general and...

This report presents the main findings of a new survey of 170 European business incubators. It finds that a large share of surveyed incubators began to operate in the last 5 years. The survey suggests that upwards of 5,500 people work in Europe's business incubators, offering services to around...