Early-stage financing and firm growth in new industries
نویسندگان
چکیده
منابع مشابه
Early-stage financing and firm growth in new industries
This paper shows that active investors, such as venture capitalists, can affect the speed at which new ventures grow. In the absence of product market competition, new ventures financed by active investors grow faster initially, though in the long run those financed by passive investors are able to catch up. By contrast, in a competitive product market, new ventures financed by active investors...
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ژورنال
عنوان ژورنال: Journal of Financial Economics
سال: 2009
ISSN: 0304-405X
DOI: 10.1016/j.jfineco.2008.07.004