Abstract

http://ssrn.com/abstract=630982
 
 

References (47)



 
 

Citations (6)



 


 



Financing High-Tech Growth: The Role of Banks and Venture Capitalists


David B. Audretsch


Indiana University - Institute for Development Strategies; King Saud University; WHU - Otto Beisheim School of Management; Indiana University Bloomington - School of Public & Environmental Affairs (SPEA)

Erik E. Lehmann


University of Augsburg - Faculty of Business and Economics


Schmalenbach Business Review, Vol. 56, October 2004

Abstract:     
Using a data set of the firms listed on the Neuer Markt in Germany, we demonstrate that venture-backed firms differ from firms with other financial resources, especially debt. Thus, the results of this study support the hypothesis that small and innovative firms are more likely to be financed by venture capitalists rather than banks. We also provide evidence that the presence of venture capitalists enhance the growth rates of firms positively.

Number of Pages in PDF File: 19

Keywords: Venture capital, new economy, entrepreneurship, corporate governance

JEL Classification: G32, L11, M13

Accepted Paper Series


Download This Paper

Date posted: December 11, 2004  

Suggested Citation

Audretsch, David B. and Lehmann, Erik E., Financing High-Tech Growth: The Role of Banks and Venture Capitalists. Schmalenbach Business Review, Vol. 56, October 2004. Available at SSRN: http://ssrn.com/abstract=630982

Contact Information

David B. Audretsch (Contact Author)
Indiana University - Institute for Development Strategies ( email )
1315 East Tenth Street
Bloomington, IN 47405
United States
812-855-6766 (Phone)
812-855-0184 (Fax)
King Saud University ( email )
Riyadh, 11451
Saudi Arabia
WHU - Otto Beisheim School of Management ( email )
Burgplatz 2
Vallendar, 56179
Germany
Indiana University Bloomington - School of Public & Environmental Affairs (SPEA) ( email )
1315 East Tenth Street
Bloomington, IN 47405
United States

Erik E. Lehmann
University of Augsburg - Faculty of Business and Economics ( email )
Universitätsstr. 16
Augsburg, 86135
Germany
Feedback to SSRN


Paper statistics
Abstract Views: 1,622
Downloads: 417
Download Rank: 37,972
References:  47
Citations:  6
Paper comments
No comments have been made on this paper

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo2 in 0.266 seconds