The study is based on a questionnaire survey of 117 Irish software firms. It finds no systematic relation between product lead time and acquisition of first external funds in new technology-based firms (NTBFs). Contrary to the stage model's predictions, these firms are just as likely to secure...

Using a sample of 117 Irish software companies, we examine the capital structure of new technology-based firms. Consistent with the findings on financing for other small businesses, internal funds are the most important source of funding in new technology-based firms. However, in apparent...

Policymakers have long supported the development of venture capital markets on the basis that venture capital fills a perceived gap in the availability of early stage seed capital funding for new technology-based firms (NTBFs). Support from policymakers, however, has not been matched by academic...

Despite their increasing importance in innovation, employment creation and economic growth, there is a dearth of theory-driven research on the financing and capital structure of new technology-based firms (NTBFs). Hogan and Hutson (2005a) advance the High-Technology Pecking Order Hypothesis...