Factors related to the capital structure of small new ventures
| Autor: | Rainer Harms, Robert J. Breitenecker, E.J. Schwartz, Malgorzata A. Wdowiak |
|---|---|
| Přispěvatelé: | Faculty of Behavioural, Management and Social Sciences |
| Rok vydání: | 2012 |
| Předmět: |
Finance
Social venture capital Capital structure Individual capital business.industry Financial economics Strategy and Management Equity (finance) New Ventures Venture capital Human capital Financial capital Management of Technology and Innovation Economics Business and International Management business |
| Zdroj: | International journal of entrepreneurial venturing, 4(2), 97-110. Inderscience Publishers |
| ISSN: | 1742-5379 1742-5360 |
| DOI: | 10.1504/ijev.2012.046527 |
| Popis: | In the literature, there exists evidence on the capital structure determinants for small ventures, but empirical research for new ventures is limited. We seek to address this gap by presenting a confirmatory analysis of determinants of capital structure of a sample of small new ventures in Austria. An understanding of the determinants of capital structure is vital since a lack of equity can have serious implications for the existence and the prosperity of a new firm. Indicators that relate to the human capital of the founder are easily available and are most prominent in venture financing decisions. Also, the industry chosen and growth intentions can serve as valuable indicators for external investors. Applying ordered logistic regression, influences of the education level, founding experience, leadership experience and turnover on leverage could be detected. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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