| Autor: |
Brown, Martin, Degryse, Hans, Höwer, Daniel, Penas, Maria Fabiana |
| Jazyk: |
angličtina |
| Rok vydání: |
2012 |
| Předmět: |
|
| Popis: |
Start-up firms often face difficulties in raising external funds. Employing a unique panel dataset covering 9,715 start-up firms over the period 2007-2009, we find that high-tech startups are less likely to use bank finance and face more difficulties in raising bank finance than low-tech start-ups. We find that external credit scores do affect the availability of credit for start-up firms, but that banks rely less on external rating information in their decision making for high-tech start-ups than low-tech start-ups. Start-ups that have their main relation with a small bank use more bank finance and report less difficulties in getting credit. By contrast, a greater expertise of the bank in the firm’s industry is not associated with fewer difficulties to get bank loans. There are no differences between high-tech and low-tech start-ups regarding the impact of bank size. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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