Despite the enduring relevance of venture capital as a source of funding for new firms, the last decade has seen the emergence of multiple alternative sources of funding, radically reshaping the start-up ecosystem and posing new questions for both academics and practitioners. In this review...

Digitization dramatically changes entrepreneurs’ business models and their implications for the type and timing of finance that support them. It creates new financial channels (including crowd-investors and initial coin offerings) that complement, and in part substitute, traditional...

We investigate how the banking industry concentration and the strength of credit relationships (relationship lending) jointly affect the cost of borrowing of firms. Our results indicate that relationship lending is not associated with the rent extraction mechanism deriving from informational...