debt is prevalent among start-up firms in transportation and utilities than those in other industries. When debt obtained …, studies of small firms have been somewhat less common, and investigation of capital structure at origin (start-up) has been … virtually nil. In this paper we present empirical evidence concerning the start-up capital structures of small firms. We base …

cover start-up costs, to provide working capital, to secure facilities or equipment, and to hire employees. Most small firms … are at a relative disadvantage, because they are too small to access the public debt and equity markets. Similarly, they … Finances (NSSBF) to examine the financing strategies of very small firms, a largely understudied segment of the small business …

this effect. It is shown that this entails financing high quality ventures with debt and low quality ventures with equity … provided by the entrepreneur and the quality of the business venture. External financing induces the effort-averse entrepreneur …. This explains the predominance of debt in the capital structures of small firms. …

this effect. It is shown that this entails financing high quality ventures with debt and low quality ventures with equity … provided by the entrepreneur and the quality of the business venture. External financing induces the effort-averse entrepreneur …. This explains the predominance of debt in the capital structures of small firms. …

compared to traditional sources of financing when bootstrap financing comprised at least 60% of the total start-up capital. No …This study examines the use of bootstrap financing for a sample of 78 firms in a Midwestern state. The results show … that traditional sources of capital accounted for 65% of the firms' start-up capital and 35% of the start-up capital was …

compared to traditional sources of financing when bootstrap financing comprised at least 60% of the total start-up capital. No …This study examines the use of bootstrap financing for a sample of 78 firms in a Midwestern state. The results show … that traditional sources of capital accounted for 65% of the firms' start-up capital and 35% of the start-up capital was …

are unable to tap into this market. Instead, they depend on owner equity, other private equity, and debt financing. Survey …. Evidence suggests that debt financing for small businesses was extremely important, especially for young firms. … data from the Federal Reserve Board allow an in depth look at the patterns of small business financing in the late nineties …