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This paper aims to analyze the effects of financial constraints and the financial crisis on the financing and … financing as well as on the investments of these firms. Moreover, we find that financially constrained firms use less external … debt financing and invest smaller amounts. They also rely on less trade credit. With regard to bank financing, newly …
Persistent link: https://www.econbiz.de/10011772844
Using U.S. Census firm-worker data, I document that firms' financial distress has an economically important effect on employee departures to entrepreneurship. The impact is amplified in the high-tech and service sectors, where employees are key assets. In states with enforceable noncompete...
Persistent link: https://www.econbiz.de/10012854608
Using U.S. Census firm-worker data, I document that firms' financial distress has an economically important effect on employee departures to entrepreneurship. The impact is amplified in the high-tech and service sectors, where employees are key assets. In states with enforceable noncompete...
Persistent link: https://www.econbiz.de/10012855884
effect of debtor protection on the financing structure and performance of a representative panel of U.S start-ups. The effect …
Persistent link: https://www.econbiz.de/10012975744
While bootstrap finance is widely used in entrepreneurial ventures, both scholars and practitioners have presented conflicting views on the relation between financial bootstrapping and venture growth. This paper empirically investigates the association between bootstrap strategies used at...
Persistent link: https://www.econbiz.de/10013094019
Firms invest in Corporate venture capital (CVC) for strategic reasons. Consistent with maintaining financial flexibility to fund CVC driven innovation and acquisitions, CVC investing firms hold less debt and more cash. Our results are more pronounced among the highest CVC investors and...
Persistent link: https://www.econbiz.de/10013290530
Persistent link: https://www.econbiz.de/10011586545
Persistent link: https://www.econbiz.de/10003861660
An entrepreneur faces non-diversifiable business risk and liquidity constraints. We provide a unified framework that embeds these frictions to study interdependent business start-up/entry, capital accumulation/asset sales, portfolio allocation, consumption/saving, and business exit decisions....
Persistent link: https://www.econbiz.de/10013129278
950 dyads of venture capitalists and German new ventures which have closed a financing round between January 2002 and … financing round help explain variations in spatial proximity. We find that spatial proximity is more likely for younger ventures … is more likely for consecutive financing rounds. Furthermore, we find the effects to be more pronounced for lead …
Persistent link: https://www.econbiz.de/10003858196