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Smart capital in German start-ups - an empirical analysis

Author

Listed:
  • Dorothea Schaefer

    () (German Institute for Economic Research (DIW))

  • Dirk Schilder

    ()

Abstract

It 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.

Suggested Citation

  • Dorothea Schaefer & Dirk Schilder, 2007. "Smart capital in German start-ups - an empirical analysis," Jena Economic Research Papers 2007-015, Friedrich-Schiller-University Jena.
  • Handle: RePEc:jrp:jrpwrp:2007-015
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    References listed on IDEAS

    as
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    Citations

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    Cited by:

    1. Diana Hechavarría & Charles Matthews & Paul Reynolds, 2016. "Does start-up financing influence start-up speed? Evidence from the panel study of entrepreneurial dynamics," Small Business Economics, Springer, vol. 46(1), pages 137-167, January.
    2. Andreas Fili & Jaan Grünberg, 2016. "Business angel post-investment activities: a multi-level review," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 20(1), pages 89-114, March.
    3. Diana M. Hechavarría & Charles H. Matthews & Paul D. Reynolds, 2016. "Does start-up financing influence start-up speed? Evidence from the panel study of entrepreneurial dynamics," Small Business Economics, Springer, vol. 46(1), pages 137-167, January.

    More about this item

    Keywords

    Smart capital; start-up financing; venture capital; banks;

    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; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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