In this paper we aim at shedding light on the possible role played by BAs in influencing the effects of bank debt on the performances of the funded ventures. We assume that BAs might significantly reduce the agency costs of bank debt and foster a positive effect of debt on venture performance by...

This working paper uses machine learning to identify Cleantech companies in the Orbis database, based on self-declared business descriptions. Identifying Cleantech companies is challenging, as there is no universally accepted definition of what constitutes Cleantech. This novel approach allows...

This paper highlights the main challenges faced by the Cleantech sector. Key barriers include limited access to external finance, with many respondents expecting to raise significant funds in the next five years. Additionally, stringent and uncertain standards and regulations create operational...

We analyze a sample of European high-tech entrepreneurial firms that received bank venture capital (BVC) financing between 1994 and 2004. We employ a “two-step” matching procedure in order to build a control group composed of i) comparable firms that received venture capital financing from...

We explore the switching dynamic between entrepreneurs and their lead venture capital investors (VCs) with a specific attention to the typology of venture capital funds. In particular, we concentrate on the switching that occurs from a lead independent VC investor (IVC) to a governmental VC...

This working paper uses machine learning to identify Cleantech companies in the Orbis database, based on self-declared business descriptions. Identifying Cleantech companies is challenging, as there is no universally accepted definition of what constitutes Cleantech. This novel approach allows...