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...

This paper aims at comparing French and Californian social businesses' financial structure and their access to equity and equity-like funding. The author finds from the study of an 800-French social businesses sample that these French organizations suffer from a lack of access to this type of...

Small enterprises are a key source of employment, economic growth, innovation and productivity in advanced as well as emerging economies and as such they are a crucial sector of an economy. Access to financing plays an important role for the small enterprise sector in any economy. Based on...

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...

Nachfolgeregelung durch Unternehmenskauf - Werkzeuge für die Bewertungund Finanzierung kleiner und mittelständischer Unternehmen im Rahmen einerexternen Nachfolge - die Themenstellung dieser Arbeit enthält zweiSchwerpunkte aus dem Gesamtprozess der Unternehmensnachfolge durchVerkauf: Die...

We examine the role of spatial proximity for Venture Capital (VC) investments inGermany. The main database is a survey of 85 personal interviews withrepresentatives of different types of financial institutions. The analysis shows thatspatial proximity is far less important for VC investments...

This study explores individual and country-level environmental drivers of informal “seed” investment. We examine four types of informal investors based on business ownership experience (or no such experience) and close family relationship with investee (or no such relationship): “classic love...

We investigate whether the supply of Venture Capital (VC) in Germany is driven by spatial influences. The study is based on information from more than 300 VC investments made in Germany between 2004 and 2005. We find evidence that the geographical distance between a VC company and the portfolio...

It is now widely acknowledged that the entrepreneurial capacity in an economy is a key determinant of economic growth and productivity improvements. This paper uses survey data from the 15 EU Member States and the US to establish the effect of demographic and other variables on latent and actual...

Small enterprises are a key source of employment, economic growth, innovation and productivity in advanced as well as emerging economies and as such they are a crucial sector of an economy. Access to financing plays an important role for the small enterprise sector in any economy. Based on...