L'accesso al credito bancario da parte delle start-up tecnologiche italiane
AbstractThis paper aims to shed new light on start-up financing of new technology-based firms (NTBFs) and the existence of credit cons- traints that may negatively affect their activity. For this purpose, we analyze the different sources of start-up financing used by a sample composed of 386 Italian NTBFs that operate both in manufacturing and services. We provide evidence of the existence of serious imperfections in the Italian credit market, supporting the view that there is a financing hierarchy. We also show that credit to NTBFs is likely to be rationed: the credit supply curve turns out to be inelastic (even though not perfectly so).
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Bibliographic InfoArticle provided by SIPI Spa in its journal Rivista di Politica Economica.
Volume (Year): 95 (2005)
Issue (Month): 3 (May-June)
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