Smart capital in German start-ups - an empirical analysis
AbstractIt is still an open question what kind of smart capital relational investors actually supply. We divide smart capital into several components and conduct a survey among 85 German suppliers of start-up finance. The results show that the degree of "smartness" is determined by the financial product used and also by the finan-ciers' institutional background, the duration of the investment and the stage of development of the firm being financed.
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Bibliographic InfoPaper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2007-015.
Date of creation: 07 May 2007
Date of revision:
Smart capital; start-up financing; venture capital; banks;
Find related papers by JEL classification:
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-05-12 (All new papers)
- NEP-EEC-2007-05-12 (European Economics)
- NEP-ENT-2007-05-12 (Entrepreneurship)
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