Colombo, Massimo G.; Croce, Annalisa; Guerini, Massimiliano - In: Applied Economics Letters 21 (2014) 5, pp. 335-339
This work analyses the effect of informal risk capital financing on a firm's investment/cash flow sensitivity (ICFS) in a sample of 498 Italian privately held high-tech entrepreneurial ventures (HTEVs) observed from 1996 to 2008. To detect financial constraints, we resort to an error correction...
