Do firms select their main bank relationship according to their risk or risk preferences? Relationship banking is attractive for high risk firms since it improves their access to finance and provides liquidity insurance. Low risk firms instead may not want to bear the additional costs. I employ...

Do private banks act as hard-nosed bankers when firms get financially distressed compared to public banks that have the mandate to support regional economy? For German firms in the period 2000-2005, I find that the probability of leaving the market after financial distress is higher for firms...

Start-ups, especially those in high-tech industries, are an important force for innovation. They contribute to the competitive success of the economy, and help to create new jobs. Bank financing is the most important source of external credit for newly established firms. In the last two decades,...

Start-up firms often face difficulties in raising external funds. Employing a unique panel dataset covering 9,715 start-up firms over the period 2007-2009, we find that high-tech startups are less likely to use bank finance and face more difficulties in raising bank finance than low-tech...

Do firms select their main bank relationship according to their risk or risk preferences? Relationship banking is attractive for high risk firms since it improves their access to finance and provides liquidity insurance. Low risk firms instead may not want to bear the additional costs. I employ...

There remains considerable scholarly debate about the role that prior entrepreneurial experience plays in new venture survival. Drawing on entrepreneurial learning theories, we use panel data on 8,400 new ventures to investigate the impact of four different types of prior entrepreneurial...

Sowohl in der politischen als auch in der wissenschaftlichen Diskussion zum Thema Unternehmensgründungen werden anspruchsvolle Erwartungen an die von jungen Unternehmen ausgehenden Wirkungen formuliert. Von einer regen Gründungstätigkeit erhofft man sich eine Verbesserung der...

Unternehmensgru¨ndungen haben in der wirtschaftspolitischen Diskussion einen großen Stellenwert, wird ihnen doch gemeinhin ein wichtiger Beitrag zur Schaffung neuer, zukunftsorientierter Arbeitsplätze unterstellt. Eine höhere gesamtwirtschaftliche Effizienz, ein beschleunigter Strukturwandel...