This paper uses panel data to test the extent to which trade credit has acted as a substitute for bank finance in Small and Medium Sized Enterprises (SMEs), in the aftermath of the financial crisis of 2008. It demonstrates that the reduction in the supply of funds to SMEs was compounded by the...

This paper examines the role of trade credit in a comprehensive panel of 290,301 SMEs across 15 European countries over the period 2003-2012. The results show that trade credit served as an important source of finance for credit constrained firms, and that the financial position of firms...

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

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...

The role of the university in the 21st century is rapidly changing, reflecting a growing interest in the commercialisation of university knowledge among scholars and policymakers. University spin-offs (USOs) represent one mechanism for commercialising knowledge that are attracting considerable...