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Nascent Entrepreneurs, Innovation and Financing Constraints

Audretsch, David B.; Bönte, Werner; Mahagaonkar, Prashanth - DRUID, Copenhagen Business School, Department of … - 2007

Innovative nascent entrepreneurs face the problem of obtaining finance, mainly due to information problems. We use new data on capital seeking start-ups allowing distinction between planning stage and early stage. Being innovative does not affect the probability of having external finance in the...

Persistent link: https://www.econbiz.de/10005839210

Financial signaling by innovative nascent ventures: The relevance of patents and prototypes

Audretsch, David B.; Bönte, Werner; Mahagaonkar, Prashanth - In: Research Policy 41 (2012) 8, pp. 1407-1421

External finance is a central issue for innovative nascent ventures. In this study, we argue that innovative nascent ventures may use patents to signal appropriability and prototypes to signal feasibility to potential investors. Using new data on 906 nascent ventures, we find that nascent...

Persistent link: https://www.econbiz.de/10011046471

Financial Signaling by Innovative Nascent Entrepreneurs

Audretsch, David B.; Mahagaonkar, Prashanth; Bönte, Werner - Universitätsbibliothek Wuppertal, University Library - 2009

innovation as well as the project's feasibility. Our analysis of 900 nascent entrepreneurs finds that patents and prototypes … increase the likelihood of obtaining equity finance. Thus, if signals are credible, innovation positively impacts external … that the relation between finance and innovation depends on the stage of a start-up lifecycle. …

Persistent link: https://www.econbiz.de/10004964265

Financial Signaling by Innovative Nascent Entrepreneurs

Audretsch, David B.; Bönte, Werner; Mahagaonkar, Prashanth - Wirtschaftswissenschaftliche Fakultät, … - 2009

Persistent link: https://www.econbiz.de/10005090597