Stephan, Paula E.; Higgins, Matthew J.; Thursby, Jerry G. - National Bureau of Economic Research (NBER) - 2008
Managers of private entrepreneurial firms face obstacles in raising capital both in placing a value on a firm and conveying value to investors. These problems are exacerbated when the firm is small, has limited assets (except for human capital) and has yet to have a lead product. In such cases...