Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Financing Patterns In New Technology Based Firms
Download Financing Patterns In New Technology Based Firms full books in PDF, epub, and Kindle. Read online Financing Patterns In New Technology Based Firms ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Financing Patterns in New Technology-Based Firms by : Tommaso Minola
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.
Book Synopsis Capital Structure Decision of New Technology-Based Firms by : Lucio Cassia
Download or read book Capital Structure Decision of New Technology-Based Firms written by Lucio Cassia and published by . This book was released on 2014 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper investigates the existence of a pecking order in new technology-based firms (NTBFs) financing, and provides an evidence on factors determining what source of capital NTBFs try to access. The authors pay particular attention to aspects of human capital such as age, education and experience and focus on potential singularities exhibited by young novice entrepreneurs and potential constraints that they experience. These entrepreneurs are found not to be financially constrained. The findings also contribute to the academic debate on the existence of a reversed pecking order for NTBFs. Results confirm traditional pecking order patterns and show that NTBFs do rely heavily on external debt, contradicting the most common theoretical predictions. However data also suggest that (as a new perspective) some light can be shed on the hierarchy between debt and equity as financial source preferred by NTBF when it is investigated from a longitudinal rather than a cross-sectional perspective.
Book Synopsis Financing Strategies of New Technology-Based Firms by : Alicia Robb
Download or read book Financing Strategies of New Technology-Based Firms written by Alicia Robb and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fifth in a series of reports using data from the Kauffman Firm Survey. In this article we used data from the Kauffman Firm Survey to compare the financing strategies of women-and men-owned new technology-based firms. Our findings reveal that women raised dramatically less financial capital than men in the startup year and in the subsequent four years of operation. We also found that women used a significantly higher level of external debt and a significantly lower level of external equity during the startup year. Although our findings do not allow us to definitively rule out the possibility of discrimination, particularly in the market for external equity, our results indicate that women may have different motivations and expectations for their firms. These, in turn, may determine some of their financing choices.
Book Synopsis FINANCING REUIREMENTS OF NEW, TECHNOLOGY-BASED FIRMS by : DAVID J. BROPHY AND WILLIAM WELCH
Download or read book FINANCING REUIREMENTS OF NEW, TECHNOLOGY-BASED FIRMS written by DAVID J. BROPHY AND WILLIAM WELCH and published by . This book was released on 1973 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Patterns Affecting the Development Process of Independent Technology Based Companies by : Claudio Zara
Download or read book Financial Patterns Affecting the Development Process of Independent Technology Based Companies written by Claudio Zara and published by . This book was released on 2013 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this work is to focus on the financial problems affecting a technology based company in its settlement and early development. The study is based on both literature review and field work. Referring to the field work, independent technology based companies which developed new application for the car industry are considered in the study. This hitech companies group is located in UK. At the beginning of the paper some theoretical models which explain the life cycle of a technology based company are introduced and consequently used to explain the specific stages of the business life cycle. The low involvment of the financial network in the early stages of the life cycle of a technology based company is a key problem. The major reasons are: the low level of institutional quality; the sensitive relationship between the entrepreneur and the financial institution executives. The equity market is not present during the early development when the company needs to raise money to support its manufacturing and marketing activities. The result is either the death or the slow down of the companies development process. In the loan market the earning structure of the debt finance is probably the main reason of the low commitment of financial institutions.
Book Synopsis Research Into the Financing of New Technology Based Firms (NTBFs) by : Michel Duhamel
Download or read book Research Into the Financing of New Technology Based Firms (NTBFs) written by Michel Duhamel and published by . This book was released on 1995 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financing Technology's Frontier by : Richard P. Shanley
Download or read book Financing Technology's Frontier written by Richard P. Shanley and published by John Wiley & Sons. This book was released on 2004-03-22 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: An indispensable resource for anyone interested in the future of emerging technology industries Financing Technology's Frontier draws upon the experiences of today's most successful venture capitalists and entrepreneurs to provide investment professionals expert insight and powerful tools for identifying and capitalizing on the most promising high-tech and biotech opportunities. It also includes proven business models and many fascinating and instructive case studies that help entrepreneurs, CEOs and CFOs learn from the successes and setbacks of other companies in their sectors. Richard Shanley (New York, NY) is a partner in the Health Services and New Media division at Deloitte Touche Tohmatsu.
Download or read book Start-up Finance written by and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financing Requirements of New, Technology-based Firms by : David J. Brophy
Download or read book Financing Requirements of New, Technology-based Firms written by David J. Brophy and published by . This book was released on 1973 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Evidence on the Capability of Small Technology Based Firms in Iowa to Price and Negotiate External Capital by : Tsui-Ling Lu
Download or read book Evidence on the Capability of Small Technology Based Firms in Iowa to Price and Negotiate External Capital written by Tsui-Ling Lu and published by . This book was released on 1997 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study examines the capability of small technology based firms in Iowa to price and negotiate external debt and equity capital using t-statistic to test hypotheses with sample data based on a survey of 142 Iowa small technology based firms. Data analysis provides information on the financing difficulty and potential patterns underlying the capital structure of small firms. The study examines three important aspects of small technology based firms financing: (1) the familiarity of different sources of capital, (2) ability to price and negotiate equity and debt, (3) the differences in ability to price and negotiate debt and equity according to familiarity with capital. The statistical results support all three hypotheses, which state that, (1) owners of technology based firms who are more familiar with alternative forms of capital are better able to negotiate and price external debt, (2) owners of technology based firms who are more familiar with alternative forms of capital are better able to negotiate and price external equity, and (3) owners of technology based firms are better able to price and negotiate external debt and equity in later stages relative to earlier stages.
Book Synopsis Who's Going to Provide the Funding for High Tech Start-Ups? A Model for the Analysis of Determinants with a Fuzzy Approach by : Tommaso Minola
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.
Book Synopsis Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance by : El Bachir Boukherouaa
Download or read book Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Book Synopsis Financing New Technological Enterprise; Report of the Panel on Venture Capital by : United States. Department of Commerce
Download or read book Financing New Technological Enterprise; Report of the Panel on Venture Capital written by United States. Department of Commerce and published by . This book was released on 1970 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Systems, Corporate Investment in Innovation, and Venture Capital by : Anthony Bartzokas
Download or read book Financial Systems, Corporate Investment in Innovation, and Venture Capital written by Anthony Bartzokas and published by Edward Elgar Publishing. This book was released on 2004 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Financial Systems, Corporate Investment in Innovation, and Venture Capital is a text for scholars and students of the theory and practice of financing innovation. It will also be a source for governments, NGOs, financial institutions and multilateral agencies interested in the practicalities of promoting technology-based small and medium enterprises."--BOOK JACKET.
Book Synopsis The Financing of Technology-Based Small Firms by : Peter Brierley
Download or read book The Financing of Technology-Based Small Firms written by Peter Brierley and published by . This book was released on 2014 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This review assesses the academic literature of recent years on the financing issues faced by technology-based small firms (TBSFs). It was produced as part of the latest report on these firms by the Bank's Domestic Finance Division, published last month. This report finds that, while there may still be market weaknesses in the provision of relatively small amounts of risk capital to TBSFs at the start-up and early stages, these appear to be less than four or five years ago, and to impact on TBSFs less than was the case then. Peter Brierley, Head of Domestic Finance Division, explains why the literature suggests that market imperfections in the provision of finance to small companies may apply with particular force to the start-up and early-stage financing of TBSFs, but concludes that there is little compelling evidence of a major market failure.
Book Synopsis Speed of Venture Financing for Emerging Technology-Based Entrepreneurial Firms as a Function of Founder Reputation by : Raj V. Mahto
Download or read book Speed of Venture Financing for Emerging Technology-Based Entrepreneurial Firms as a Function of Founder Reputation written by Raj V. Mahto and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the major commercialization hurdles for technology-based entrepreneurial enterprises is financing and the speed of its acquisition. This is compounded in the case of emerging technology-based enterprises by the nature of their technology acquisition and founding team structure. Many of these firms do not have founders with extensive reputations in the financial community. If founder reputation is important to funding sources with regard to speed and access, and emerging technology commercial development is important for solving twenty-first-century problems and generating economic growth, then there is cause for concern. Here we build on prior research and data from 140 Internet-based firms to examine the effect that founder reputation has on the ability of an enterprise to swiftly obtain financing. Our results suggest that founder reputation expedites ventures' quick access to public but not to private financing. In addition, our results demonstrate that venture capital financing obtained early on and financing by large venture capital syndicates delay access to public financing for founders with extensive reputations.
Book Synopsis Valuing Digital Business Designs and Platforms by : Thorsten Feix
Download or read book Valuing Digital Business Designs and Platforms written by Thorsten Feix and published by Springer Nature. This book was released on 2021-09-15 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book develops an interwoven framework for the strategic and financial valuation of digital business designs and platform companies which became game changers for a multitude of ecosystems in the 21st century. But, also incumbents of traditional industries are challenged by those digital natives and have therefore either to revitalize their business design or facing the risk to be marginalized. The business design twin of innovation is resilience to create lasting competitive advantage and capture value for the post-pandemic world of the 20s. The ultimate idea of the book rests on the hypothesis that only the combination of business design analytics - 10C Business Design and the 8 strategic levers of platform strength - with intense financial modeling - Reverse DCF - enables a true understanding of the competitive advantage and value of such business designs. Based on a tailored strategic-financial conceptual framework a set of high-profile, new case studies will highlight the working principles and application of the concept.
