van Pottelsberghe de la Potterie, Bruno; Bozkaya, ANT - Centre Emile Bernheim, Solvay Brussels School of … - 2004
Using an original survey sample of 103 unquoted Belgian technology-based small firms (TBSFs), we examine the capital structure of start-up companies during their consecutive development stages. We find that internal funds, either alone as personal savings or in combination with family and...