If control of their firms allows entrepreneurs to derive private benefits, it also allows other controlling parties. Private benefits are especially relevant for venture capitalists, who typically get considerable control in their portfolio firms, but not for banks, which are passive loan...

Frequently described as a ‘much ignored' focus of academic research, small venture financing has been the subject of a burgeoning literature in the past two decades. A considerable amount of research comprises empirical tests of theories developed in the field of corporate finance....

Young, entrepreneurial firms are particularly dependent on external investors to sustain their development. Are non-binding equity investment commitments informative? Our large sample evidence in the context of equity crowdfunding shows that only 18% of non-binding commitments made by investors...

We review the literature that examines how product markets and competition interact with corporate finance, and provide some ideas for future research. The main takeaway from more than forty years of research is that product market considerations have first-order effects on our understanding of...

Brock and De Haas (2023) study the effect of randomising applicant gender in small business loan applications that are reviewed by loan officers at a Turkish bank in a lab-in-the-field experiment based on real-life applications. The main results are: first, that loan approval rates are not...

This study analyzes differences by gender in the ownership of privately held U.S. firms and examines the role of gender in the availability of credit. Using data from the nationally representative Surveys of Small Business Finances, which span a period of sixteen years, we document a series of...

We study the effects of a unique lending program initiated by the Swedish government at the height of the financial crisis that allowed firms to suspend payment of all labor-related taxes and fees. Comprehensive administrative data on all Swedish firms show that firms borrowing from the program...

Definition and comparison of the current business environment of the Czech and Slovakian SMEs in the selected regions are the main objectives of the article. In accordance with this objective motivational factors, status in the society, relationship to the state, level of the corruption,...

Banks finance newly-founded firms extensively despite severe asymmetric information. Whereas the demand for credit usually follows from entrepreneurs' lack of liquidity, we ask why and how banks supply credit to new firms of unknown value. We propose a model of credit allocation in which, due to...

Does intellectual property positively affect the success of the equity crowdfunding campaigns? By using a unique dataset of 191 equity crowdfunding campaigns, gathered from the Italian platforms over the period 2014-2018, we answer this question, focusing on the effect of patents on funding...