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Author : William W. Welch
Publisher :
ISBN 13 :
Total Pages : 720 pages
Book Rating : 4.:/5 (371 download)
Download or read book Financial Characteristics of New Technology-based Firms written by William W. Welch and published by . This book was released on 1974 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : William W. Welch
Publisher :
ISBN 13 :
Total Pages : 720 pages
Book Rating : 4.:/5 (1 download)
Download or read book Financial characteristics of new technology-based firms written by William W. Welch and published by . This book was released on 1974 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : WILLIAM WELCH
Publisher :
ISBN 13 :
Total Pages : 43 pages
Book Rating : 4.L/5 ( download)
Download or read book FINANCIAL CHARACTERISTICS OF NEW TECHNOLOGY-BASED FIRMS written by WILLIAM WELCH and published by . This book was released on 1972 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Holger Ludewig
Publisher : diplom.de
ISBN 13 : 383241214X
Total Pages : 192 pages
Book Rating : 4.8/5 (324 download)
Download or read book Early Stage Investments in New Technology Based Firms written by Holger Ludewig and published by diplom.de. This book was released on 1999-01-04 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Abstract: In recent years the issue of early stage investment in new technology based firms has drawn considerable attention. Its relevance emerges from the rise of high technology industries in the global economy. As competition in established, mature industries all over the world is ever increasing, the importance of keeping up and increasing the speed of innovation to ensure competitiveness of companies and national wealth is widely recognized. Innovation may concern products or processes. It refers to the development of new proprietary knowledge, i. e. technology, which is embodied in marketable products or services. In as far as the added private knowledge increases the utility of a product to the customers, it adds value. Unless the new features of a product are matched by competitors, a company may earn innovation rents. Thus proprietary knowledge attained through innovation is an important source of strategic advantage. In a competitive, dynamic market, however innovation rents are not sustainable. Competitors will attempt to match and exceed the innovation advantage. This may be achieved by imitation or by adding other or more innovative features. Whereas following the product life cycle model initial growth may be steep and rents may be high for the first mover, imitators competing on price and other rivals competing on innovations, may inflate the monopolistic power of the proprietary knowledge. Striving to maintain and increase market shares and profitability, companies thus have a strong incentive to keep innovating. For new technology-based firms the importance of proprietary knowledge is particularly pronounced. These start-ups operate in a hostile competitive environment, characterized by high uncertainty, offering the potential for rapid growth and high profits on the upside, but also the substantial threat of incurring deep losses on the downside. Whereas large companies generally possess a diversified product portfolio and a host of strategic assets, small companies will need to compete on a single new product or service and the determination of its management team. Politicians, worried by high unemployment and budget deficits, lately fell in love with the high-technology start-ups for their ability to create jobs and ensure future tax revenues. New technology-based firms are drivers of structural change in the economy in that they are among the first to enter new high growth potential industries. For [...]
Author : Tommaso Minola
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (13 download)
Download or read book Financing Patterns in New Technology-Based Firms written by Tommaso Minola and published by . This book was released on 2014 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding financial strategies and patterns of new firms is crucial to the theoretical unraveling of the entrepreneurial process as well as to the elaboration of appropriate support programs from practitioner and policy maker. The aim of this paper is to investigate whether a pecking order theory underlies the financing strategies of new technology-based firms (NTBFs). From the analysis of previous literature on the subject, controversial results emerge: while some authors have confirmed a traditional pecking order theory for NTBFs, others, on grounds of NTBFs major financial constraints derived from higher information asymmetry, have proposed a revised pecking order, where access to equity (in particular private equity) occurs prior to debt. This research has been carried out applying an approach based on estimation of internal financial gap (Cosh et al., ECOJ 119:71494-1533, 2009) using data from the Kauffman Firm Survey. Additionally, we extend the pecking order prediction by examining the effect of human capital as determinants for financing decisions, given its crucial role in shaping entrepreneurial dynamics of NTBFs. Our results support the existence of a revised pecking order in the case of NTBFs; moreover entrepreneur's age and experience play a role in clarifying financial priorities of NTBFs.
Author : Jan Brinckmann
Publisher : Springer Science & Business Media
ISBN 13 : 3835055038
Total Pages : 325 pages
Book Rating : 4.8/5 (35 download)
Download or read book Competence of Top Management Teams and Success of New Technology-Based Firms written by Jan Brinckmann and published by Springer Science & Business Media. This book was released on 2008-01-17 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jan Brinckmann analyzes how competencies of founders of new technology-based firms affect the development of their ventures. The research is grounded in competence-related literature and combines insights from entrepreneurship and management research.
Author : National Academy of Engineering
Publisher : National Academies Press
ISBN 13 : 0309046467
Total Pages : 145 pages
Book Rating : 4.3/5 (9 download)
Download or read book Mastering a New Role written by National Academy of Engineering and published by National Academies Press. This book was released on 1993-02-01 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the changing character of commercial technology development and diffusion in an integrated global economy and its implications for U.S. public policies in support of technological innovation. The volume considers the history, current practice, and future prospects for national policies to encourage economic development through both direct and indirect government support of technological advance.
Author : david j. brophy
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.L/5 ( download)
Download or read book the role of commercial banks in the financing of new, technology-based firms written by david j. brophy and published by . This book was released on 1973 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mohan Sawhney
Publisher : John Wiley & Sons
ISBN 13 : 0471189553
Total Pages : 365 pages
Book Rating : 4.4/5 (711 download)
Download or read book TechVenture written by Mohan Sawhney and published by John Wiley & Sons. This book was released on 2002-02-28 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawn from the popular TechVenture program at the Kellogg School of Management, this book provides a deep understanding of the key finance and business trends in e-commerce Viewing Silicon Valley as a test lab for e-commerce strategies, this book delivers the latest financial and business models shaping the e-commerce industry. TechVenture focuses on the Silicon Valley phenomenon, the new financial strategies, and evolving e-business models. Each chapter draws from field research and interviews with the top minds in business today, and covers the most recent advances in e-finance, including: technology incubators, start-up funds, measuring intellectual capital, valuation techniques for Internet firms, and emerging technologies. In addition, TechVenture features intriguing and informative case studies and examples of major companies, including Idealab, Merrill Lynch, Pfizer, and Amazon.com. General business and finance readers, as well as those fascinated by the Internet economy, will find TechVenture an invaluable read that is on the cutting edge of e-business. Mohanbir Sawhney (Evanston, IL) is the McCormick Tribune Professor of Electronic Commerce and Technology at the Kellogg Graduate School of Management, Northwestern University. Mr. Sawhney was recently named one of the twenty-five most influential people in e-business by Business Week magazine. Ranjay Gulati (Chicago, IL) is the Associate Professor of Management and Organizations at the Kellogg Graduate School of Management and the Director of the Center for Resource on E-Business Innovation. Anthony Paoni (Chicago, IL) is Associate Professor at the Kellogg Graduate School of Management.
Author : Meghana Ayyagari
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4./5 ( download)
Download or read book Firm Innovation in Emerging Markets written by Meghana Ayyagari and published by World Bank Publications. This book was released on 2012 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors investigate the determinants of firm innovation in over 19,000 firms across 47 developing economies. They define the innovation process broadly, to include not only core innovation such as the introduction of new products and new technologies, but also other types of activities that promote knowledge transfers and adapt production processes. The authors find that more innovative firms are large exporting firms characterized by private ownership, highly educated managers with mid-level managerial experience, and access to external finance. In contrast, firms that do not innovate much are typically state-owned firms without foreign competitors. The identity of the controlling shareholder seems to be particularly important for core innovation, with those private firms whose controlling shareholder is a financial institution being the least innovative. While the use of external finance is associated with greater innovation by all private firms, it does not make state-owned firms more innovative. Financing from foreign banks is associated with higher levels of innovation compared with financing from domestic banks.
Author : F. Peter Boer
Publisher : John Wiley & Sons
ISBN 13 :
Total Pages : 442 pages
Book Rating : 4.3/5 (91 download)
Download or read book The Valuation of Technology written by F. Peter Boer and published by John Wiley & Sons. This book was released on 1999-02-26 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Valuation of Technology is a timely and thoughtful book on a critical issue in the global business arena. Peter Boer's insights constitute important reading for leaders in all fields."-Jeffrey E. Garten, Dean, Yale School of Management "The Valuation of Technology fills a critical void for those executives who wish to upgrade technology decision making from an art to a more definable science."-George B. Rathmann, Chairman and CEO, ICOS Corporation Technology valuation has replaced risk management as the management approach to analyzing the profitability of current and future technology projects. The Valuation of Technology: Business and Financial Issues in R&D explores the link between research and development and shareholder value in a comprehensive way, providing mathematical models for the valuation of R&D projects and answering critical questions on how to analyze technology initiatives and forecast their future value. This professional reference creates a common language for understanding the financial issues relating to R&D and provides analytical tools that businesspeople, scientists, and engineers can use to assess new technologies, R&D projects, and R&D budgets-thereby facilitating communication and producing more enlightened decisions. It also identifies several common fallacies in performing valuation of technology-based properties, including adding together enterprises with different time horizons and failing to recognize the value of risk-minimization strategies. Among the many remarkable features of The Valuation of Technology: * Offers quick, easy models for technology valuation that readers can use immediately * Includes a method for the quantitative valuation of technology projects and shows readers how to build a project spreadsheet and assign value to research projects * Comes with a disk containing templates for a selection of mathematical models provided in the book
Author : Arti Grover Goswami
Publisher : World Bank Publications
ISBN 13 : 1464813701
Total Pages : 222 pages
Book Rating : 4.4/5 (648 download)
Download or read book High-Growth Firms written by Arti Grover Goswami and published by World Bank Publications. This book was released on 2019-02-19 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Remarkably, a small fraction of firms account for most of the job and output creation in high-income and developing countries alike. Does this imply that the path to enabling more economic dynamism lies in selectively targeting high-potential firms? Or would pursuing broad-based reforms that minimize distortions be more effective? Inspired by these questions, this book presents new evidence on the incidence, characteristics, and drivers of high-growth firms based on in-depth studies of firm dynamics in Brazil, Côte d’Ivoire, Ethiopia, Hungary, India, Indonesia, Mexico, South Africa, Thailand, Tunisia, and Turkey. Its findings reveal that high-growth firms are not only powerful engines of job and output growth but also create positive spillovers for other businesses along the value chain. At the same time, the book debunks several myths about policies to support firm dynamism that focus on outward characteristics, such as firm size, sector, location, or past performance. Its findings show that most firms struggle to sustain rapid rates of expansion and that the relationship between high growth and productivity is often weak. Consequently, the book calls for a shift toward policies that improve the quality of firm growth by supporting innovation, managerial skills, and firms’ ability to leverage global linkages and agglomeration. To help policy makers structure policies that support firm growth, the book proposes a new ABC framework of growth entrepreneurship: improving Allocative efficiency, encouraging Business-to-business spillovers, and strengthening firm Capabilities. This book is the third volume of the World Bank Productivity Project, which seeks to bring frontier thinking on the measurement and determinants of productivity to global policy makers. 'Policy makers often get carried away by the disproportionate contributions of high-growth firms to job and output growth and commit to pursuing policies targeting the potential ‘stars.’ This book separates fact from fiction underpinning such interventions through a comprehensive analysis of high-growth firms across a range of developing countries, making a compelling argument that public policy to pick prospective winners is neither possible nor desirable. Policy makers would be wise to consult its arguments and policy advice when designing the next generation of policies to support the growth of firms.' William R. Kerr Professor of Business Administration, Harvard University; author of The Gift of Global Talent: How Migration Shapes Business, Economy and Society 'How to ignite and sustain high firm growth has eluded both economic analysis and thought leaders in policy and business. Through its meticulous and thoughtful analysis, this important new book provides a tractable framework to guide policy to harness the growth and productivity potential of firms in the developing-country context.' David Audretsch Distinguished Professor and Director of the Institute for Development Strategies, Indiana University .
Author : Tommaso Minola
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Who's Going to Provide the Funding for High Tech Start-Ups? A Model for the Analysis of Determinants with a Fuzzy Approach written by Tommaso Minola and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this paper is to understand which factors influence the financial structure of Italian young, high-tech, innovative firms, and to attempt to formulate a predictive model to determine the ideal financial strategy for a given entrepreneurial project. Venture capital is the most relevant form of financing for high-technology start-ups in the United States and is frequently cited as crucial in the technological leadership of the US economy. However, banks are also moving toward establishing a role in capital provision, making innovative offers to meet the financial needs of start-ups, especially in bank-centric countries such as Italy. Is it possible to build a robust and ordered set of determinants of the financial strategy of new technology-based firms? Is it possible to gather them in a model that allows a rigorous analysis? Is it possible to summarize the analysis in a synthetic value of orientation to one or other form of financing? Through a systematic review of the literature and comparison between investors, we have taken the first step toward answering these questions. This work develops a methodology to solve the problem and builds a provisional fuzzy-set based tool to permit the rationalization of the relevant information and effectively support the reduction of qualitative evaluation of complex phenomena into simple and measurable dimensions. The structure of the model is hierarchical but simple. We consider, as the first level of main determinants (sub-dimensions), the figure of the entrepreneur, the nature of the project, the financial scenario, and the market characteristics. For each of these, we provide deep insights about their relation with finance. We have verified the value of this approach in the context of ten business cases, by matching the financial strategies undertaken by entrepreneurs and the obtainable conclusions with the fuzzy tool. However, the definition of a robust, predictive model requires more consistent empirical validation, which we intend to develop from this work.
Author : Baldwin, John R. (John Russel)
Publisher : Analytical Studies Branch, Statistics Canada
ISBN 13 : 9780662322238
Total Pages : 41 pages
Book Rating : 4.3/5 (222 download)
Download or read book Financing Innovation in New Small Firms : New Evidence from Canada written by Baldwin, John R. (John Russel) and published by Analytical Studies Branch, Statistics Canada. This book was released on 2002 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert Alphonse Grasso
Publisher :
ISBN 13 :
Total Pages : 80 pages
Book Rating : 4.:/5 (244 download)
Download or read book A Discriminant Analysis of the Financial Characteristics of Selected Firms Utilizing New Common Stock Financing written by Robert Alphonse Grasso and published by . This book was released on 1968 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John R. Baldwin
Publisher :
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4.:/5 (129 download)
Download or read book Financing Innovation in New Small Firms written by John R. Baldwin and published by . This book was released on 2014 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the financial characteristics of new small firms. The analysis develops a representative, small-firm financial profile, and evaluates the extent to which the proportionate use of different instruments and sources is correlated with industry-level and firm-specific characteristics. Multivariate methods are then used to examine relationships between financial structure, Ramp;D-intensity and innovation. Our results suggest that relationships between knowledge-intensity and capital structure are bi-directional. After controlling for a range of industry- and firm-level covariates, firms that devote a higher percentage of their investment expenditure to Ramp;D also exhibit less debt-intensive structures. Conversely, debt-intensive structures also act to constrain investments in Ramp;D. These relationships, however, depend upon the type of debt in the asset mix. It is the share of long-term debt to total assets that is negatively related to investments in knowledge.
Author : Oliver Bürgel
Publisher : Springer Science & Business Media
ISBN 13 : 3790827029
Total Pages : 297 pages
Book Rating : 4.7/5 (98 download)
Download or read book The Internationalisation of Young High-Tech Firms written by Oliver Bürgel and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is now a certain tradition of Anglo-German comparative research on new technology-based firms (NTBFs). Two of the most influential studies in this area have both been sponsored by the Anglo-German Foundation for the Study of In dustrial Society (AGF). Starting in 1977, the first AGF project on NTBFs, which was carried out by the consultancy firm Arthur D. Little, has been one ofthe most important early contributions in this field (Little 1977). This report was the first public document to use the term 'new technology-based firm' and to provide a definition, which despite its operational limitations subsequently became an es tablished term in the literature. More importantly, this study represented one ofthe first serious attempts to survey the existing stock of this type of firm. The report was critical of the contemporary situation in Europe. (This is a policy area which continues to be hotly debated, see European Commission 1995, Bank of England 1996 and HM Treasury 1998. ) It emphasised that, in comparison with the USA, Germany and the UK were each lagging behind if judged by the rate of formation of NTBFs and in their total contribution to the overall economic activity of both countries. In terms of a policy contribution, this study was instrumental in high lighting the lack ofsupport infrastructures for the genesis and growth of high-tech start-ups in two of Europe's leading economies.
