Hugendubel.info - Die B2B Online-Buchhandlung 

Merkliste
Die Merkliste ist leer.
Bitte warten - die Druckansicht der Seite wird vorbereitet.
Der Druckdialog öffnet sich, sobald die Seite vollständig geladen wurde.
Sollte die Druckvorschau unvollständig sein, bitte schliessen und "Erneut drucken" wählen.

Contemporary Developments in Entrepreneurial Finance

E-BookPDF1 - PDF WatermarkE-Book
333 Seiten
Englisch
Springer International Publishingerschienen am22.08.20191st ed. 2020
More extensive regulations, new technologies, and new means of communication have significantly changed the financing landscape for startups and small to medium-sized companies (SMEs). This volume provides a contemporary research-based overview of the latest trends in entrepreneurial finance and outlines expected future developments. Starting with the status quo in market regulations and the financing structure of SMEs, it addresses a broad range of new financing alternatives for innovative startups (e.g. business angel financing, venture capital and corporate venture capital), as well as recent social phenomena (e.g. crowdfunding and initial coin offerings (ICOs)). Incorporating qualitative, quantitative and mixed analytical methods, the book contributes to a better understanding of the financing world by reflecting both the researcher's and the practitioner's perspective.





Alexandra Moritz is a post-doctoral researcher at the Chair of Management at University of Trier (Germany), where she finished her PhD on Financing of Small and Medium-sized Firms in Europe. Her work has been published in business and economics journals such as Small Business Economics, Venture Capital: An International Journal and Qualitative Research in Financial Markets.




Joern Block is a Professor of Entrepreneurship and Innovation at Erasmus University Rotterdam (The Netherlands) and University of Trier (Germany). His research has been published in journals such as Administrative Science Quarterly, Journal of Business Venturing and Research Policy. Prof. Block is also the Editor-in-Chief of the journal 'Management Review Quarterly' (Springer).




Stephan Golla is Professor of Management and Entrepreneurship at Fulda University of Applied Sciences (Germany) and Adjunct Professor at University of the Sunshine Coast (USC, Australia). Prof. Golla had previously worked in management positions within VC funded startups and was responsible for the IP commercialization at Western Sydney University (Australia). He publishes in the area of students' occupational choices and founder identities.




Arndt Werner is Professor and chair for SME Management and Entrepreneurship at the University of Siegen (Germany). Prof. Werner has published in various entrepreneurship journals including ET&P, Small Business Economics and Journal of Small Business Management.mehr
Verfügbare Formate
BuchGebunden
EUR139,09
E-BookPDF1 - PDF WatermarkE-Book
EUR96,29

Produkt

KlappentextMore extensive regulations, new technologies, and new means of communication have significantly changed the financing landscape for startups and small to medium-sized companies (SMEs). This volume provides a contemporary research-based overview of the latest trends in entrepreneurial finance and outlines expected future developments. Starting with the status quo in market regulations and the financing structure of SMEs, it addresses a broad range of new financing alternatives for innovative startups (e.g. business angel financing, venture capital and corporate venture capital), as well as recent social phenomena (e.g. crowdfunding and initial coin offerings (ICOs)). Incorporating qualitative, quantitative and mixed analytical methods, the book contributes to a better understanding of the financing world by reflecting both the researcher's and the practitioner's perspective.





Alexandra Moritz is a post-doctoral researcher at the Chair of Management at University of Trier (Germany), where she finished her PhD on Financing of Small and Medium-sized Firms in Europe. Her work has been published in business and economics journals such as Small Business Economics, Venture Capital: An International Journal and Qualitative Research in Financial Markets.




Joern Block is a Professor of Entrepreneurship and Innovation at Erasmus University Rotterdam (The Netherlands) and University of Trier (Germany). His research has been published in journals such as Administrative Science Quarterly, Journal of Business Venturing and Research Policy. Prof. Block is also the Editor-in-Chief of the journal 'Management Review Quarterly' (Springer).




Stephan Golla is Professor of Management and Entrepreneurship at Fulda University of Applied Sciences (Germany) and Adjunct Professor at University of the Sunshine Coast (USC, Australia). Prof. Golla had previously worked in management positions within VC funded startups and was responsible for the IP commercialization at Western Sydney University (Australia). He publishes in the area of students' occupational choices and founder identities.




Arndt Werner is Professor and chair for SME Management and Entrepreneurship at the University of Siegen (Germany). Prof. Werner has published in various entrepreneurship journals including ET&P, Small Business Economics and Journal of Small Business Management.
Details
Weitere ISBN/GTIN9783030176129
ProduktartE-Book
EinbandartE-Book
FormatPDF
Format Hinweis1 - PDF Watermark
FormatE107
Erscheinungsjahr2019
Erscheinungsdatum22.08.2019
Auflage1st ed. 2020
ReiheFGF Studies in Small Business and Entrepreneurship
Seiten333 Seiten
SpracheEnglisch
IllustrationenXIV, 333 p. 65 illus., 38 illus. in color.
Artikel-Nr.4808216
Rubriken
Genre9200

Inhalt/Kritik

Inhaltsverzeichnis
1;About the FGF Studies in Small Business and Entrepreneurship;6
2;Preface;8
3;Contents;11
4;Contributors;13
5;Part I: Status Quo in SME Financing and Financial Market Regulation;15
5.1;European SME Financing: An Empirical Taxonomy;16
5.1.1;1 Introduction;17
5.1.2;2 Literature Review;18
5.1.3;3 Data, Method and Variables;19
5.1.3.1;3.1 The SAFE Survey;19
5.1.3.2;3.2 Method;19
5.1.3.3;3.3 Variables;20
5.1.3.3.1;3.3.1 Active Cluster Variables;20
5.1.3.3.2;3.3.2 Passive Cluster Variables;20
5.1.3.4;3.4 Descriptive Statistics;22
5.1.4;4 Empirical Analysis;23
5.1.4.1;4.1 Identifying an Empirical Taxonomy of SMEs in 2015;23
5.1.4.2;4.2 Profiling and Describing the Taxonomy;26
5.1.4.2.1;4.2.1 Macroeconomic Variables;26
5.1.4.2.2;4.2.2 Country-Level Characteristics of the Clusters;33
5.1.5;5 Discussion;37
5.1.5.1;5.1 Summary of Main Findings and Contributions;37
5.1.5.2;5.2 Avenues for Future Research;40
5.1.6;References;40
5.2;The European Capital Markets Union and its Impact on Future SME Financing;44
5.2.1;1 Introduction;44
5.2.2;2 European Capital Markets Union;46
5.2.2.1;2.1 Green Paper;46
5.2.2.2;2.2 Action Plan;50
5.2.2.3;2.3 Reactions and Critical Reflection;55
5.2.2.3.1;2.3.1 Role of the Financial System;55
5.2.2.3.2;2.3.2 Relevance of Bank-Based SME Financing;57
5.2.2.3.3;2.3.3 Critical Reflection;59
5.2.3;3 Study;60
5.2.3.1;3.1 Research Design, Database and Method;60
5.2.3.2;3.2 Analysis;61
5.2.3.2.1;3.2.1 Initial Knowledge;61
5.2.3.2.2;3.2.2 Implications for Start-up and Growth Financing in Europe;62
5.2.3.2.3;3.2.3 Direct Capital Market Financing for SMEs;64
5.2.3.2.4;3.2.4 The Future Role of Banks;65
5.2.4;4 Conclusion;66
5.2.5;References;68
5.3;Innovation and Investment Finance in Comparison;72
5.3.1;1 Introduction;73
5.3.2;2 Conceptual Background;74
5.3.3;3 Method;76
5.3.3.1;3.1 Database;76
5.3.3.2;3.2 Variables;77
5.3.4;4 Empirical Results;78
5.3.4.1;4.1 Overall Sample;78
5.3.4.2;4.2 Company Size;80
5.3.4.3;4.3 Company Age;82
5.3.4.4;4.4 Amount of Expenditure Related to Annual Turnover;83
5.3.4.5;4.5 Share of RandD Expenditure in Innovation Expenditure;84
5.3.4.6;4.6 Credit Rating;84
5.3.4.7;4.7 Return on Sales;86
5.3.5;5 Conclusion;87
5.3.6;References;89
5.4;Trends in Financing Programmes for the Development of Micro, Small and Medium Enterprises (MSMEs) in Nigeria: A Qualitative Me...;93
5.4.1;1 Introduction;94
5.4.1.1;1.1 Methodology and Approach;96
5.4.2;2 Conceptual Issues;96
5.4.2.1;2.1 Entrepreneurial Financing and Financing Programmes in Nigeria;96
5.4.3;3 Theories of Entrepreneurial Financing;101
5.4.4;4 Key Entrepreneurial Financing Challenges in Nigeria;106
5.4.5;5 Overview of Findings on Entrepreneurial Financing in Nigeria;107
5.4.6;6 Conclusion, Implications and Recommendations;108
5.4.7;References;109
6;Part II: Entrepreneurial Finance from Established Risk Capital Providers;114
6.1;Research on Venture Capitalists´ and Business Angels´ Investment Criteria: A Systematic Literature Review;115
6.1.1;1 Introduction and Motivation;115
6.1.2;2 Review of Literature on VCs´ and BAs´ Investment Criteria;117
6.1.2.1;2.1 Review Approach;117
6.1.2.2;2.2 A Comprehensive Framework Based on Agency Theory;118
6.1.2.3;2.3 Descriptive Literature Analysis;120
6.1.2.4;2.4 Literature Systematization and Categorization;123
6.1.2.4.1;2.4.1 Investment Criteria Regarding the ``Management Team´´;124
6.1.2.4.2;2.4.2 Investment Criteria Regarding the ``Business´´;133
6.1.2.4.3;2.4.3 Investment Criteria Regarding ``Financial Traction´´;134
6.1.3;3 Limitations;137
6.1.4;4 Avenues for Future Research;137
6.1.5;5 Conclusion;140
6.1.6;References;140
6.2;Measuring Venture Capital Sentiment in Europe;147
6.2.1;1 Introduction;148
6.2.2;2 Survey, Sample, and Data;150
6.2.2.1;2.1 Description of the Survey;150
6.2.2.2;2.2 Sample and Collection of Data;150
6.2.2.3;2.3 Descriptive Statistics;151
6.2.2.4;2.4 Representativity of the Data;154
6.2.3;3 Theory on Sentiment Measurement;155
6.2.3.1;3.1 General Information on Sentiment Measurement;155
6.2.3.2;3.2 Examples of Sentiment Index Calculation;157
6.2.3.3;3.3 Questions Used for the European VC Market Sentiment Index;158
6.2.3.4;3.4 Calculation of the European VC Sentiment Index;160
6.2.4;4 Results;161
6.2.4.1;4.1 Correlations and t-Tests;161
6.2.4.2;4.2 Overall Sentiment Index Results;164
6.2.4.3;4.3 Investment Stage Focus Differences;166
6.2.4.4;4.4 Industry Focus Differences;167
6.2.4.5;4.5 Regional Differences;167
6.2.4.5.1;4.5.1 Overview;168
6.2.4.5.2;4.5.2 Benelux;168
6.2.4.5.3;4.5.3 Central-Eastern Europe, Greece, and Turkey;170
6.2.4.5.4;4.5.4 DACH Region;171
6.2.4.5.5;4.5.5 France;173
6.2.4.5.6;4.5.6 Southern Europe;174
6.2.4.5.7;4.5.7 Nordic Region;175
6.2.4.5.8;4.5.8 UK and Ireland;176
6.2.5;5 Summary, Limitations, and Further Outlooks;178
6.2.6;Appendix;181
6.2.7;References;183
6.3;The Private Value of Patents for Government-supported Start-Ups: The Case of the European Investment Fund;185
6.3.1;1 Introduction;185
6.3.2;2 Related Literature;187
6.3.3;3 Data;188
6.3.3.1;3.1 Firm-Patent Matched Data;188
6.3.3.2;3.2 Patent Renewal Data;190
6.3.4;4 The Economic Value of Start-Ups´ Innovations;196
6.3.4.1;4.1 A Model of IP Protection Renewal and Value;196
6.3.4.2;4.2 Estimation of Patent Values;198
6.3.5;5 Results;201
6.3.5.1;5.1 The Value of Innovations for EIF-Backed Start-Ups;201
6.3.5.2;5.2 Sectoral Differences;201
6.3.5.3;5.3 Geographical Differences;203
6.3.5.4;5.4 Age and Timing of Innovations;204
6.3.6;6 Conclusion;206
6.3.7;References;207
6.4;In Which Regions Do Governmental, Independent, and Corporate Venture Capital Firms Invest? An Empirical Investigation across 4...;210
6.4.1;1 Introduction;210
6.4.2;2 Conceptual Framework and Hypotheses;212
6.4.2.1;2.1 Characteristics of GVC, IVC, and CVC Firms;212
6.4.2.2;2.2 Regional Development Focus of GVC Firms;214
6.4.2.3;2.3 Network Partners of GVC Firms;215
6.4.2.4;2.4 Local Bias of VC Investments;216
6.4.3;3 Data and Variables;217
6.4.3.1;3.1 Data;217
6.4.3.2;3.2 Variables;218
6.4.3.2.1;3.2.1 Dependent Variables;218
6.4.3.2.2;3.2.2 Independent and Control Variables;218
6.4.3.3;3.3 Descriptive Statistics;219
6.4.4;4 Results;223
6.4.4.1;4.1 Method;223
6.4.4.2;4.2 Multivariate Results;224
6.4.5;5 Discussion and Conclusion;229
6.4.5.1;5.1 Discussion of the Results;229
6.4.5.2;5.2 Contributions and Implications for Theory and Practice;231
6.4.5.3;5.3 Limitations and Future Research;232
6.4.6;References;233
6.5;Playing with the Devil? Organizational Voids within Corporate Venture Capital Dyads;237
6.5.1;1 Introduction;238
6.5.2;2 Literature Review;239
6.5.3;3 Isomorphic Tendencies and the Call for a Mixed-Method Approach;241
6.5.4;4 Making Isomorphic Tendencies Measurable;241
6.5.5;5 Disentangling Potential Drivers of Isomorphism;244
6.5.6;6 Discussion;248
6.5.7;7 Conclusion;250
6.5.8;References;251
7;Part III: New Trends in Entrepreneurial Finance;256
7.1;Social Finance in Europe: The Transition from Grants to Follow-Up Financing for Social Enterprises;257
7.1.1;1 Introduction;257
7.1.2;2 Theoretical Background on SE Funding;259
7.1.2.1;2.1 Funding Types for SEs;259
7.1.2.2;2.2 Challenges in SE Funding;260
7.1.2.2.1;2.2.1 Investor Relationship-Related Challenges;260
7.1.2.2.2;2.2.2 Grant Funding as an Alternative;261
7.1.3;3 Data and Method;262
7.1.3.1;3.1 Data Collection and Sample;262
7.1.3.2;3.2 Interview Process;263
7.1.3.3;3.3 Data Analysis;263
7.1.4;4 Results and Discussion;266
7.1.4.1;4.1 Requirements to Receive Grant Funding;268
7.1.4.2;4.2 Challenges Within the European Grant Landscape;270
7.1.4.3;4.3 The Influence of Grants on Follow-Up Financing;271
7.1.4.4;4.4 Equity as a Follow-Up Financing Source for SEs;273
7.1.5;5 Conclusion;274
7.1.5.1;5.1 Summary and Conceptual Model;274
7.1.5.2;5.2 Implications for Theory and Practice;275
7.1.5.2.1;5.2.1 Theoretical Implications;275
7.1.5.2.2;5.2.2 Implications for Practice;277
7.1.5.3;5.3 Limitations and Future Research;277
7.1.6;References;278
7.2;Democratising Entrepreneurial Finance: The Impact of Crowdfunding and Initial Coin Offerings (ICOs);282
7.2.1;1 Introduction;282
7.2.2;2 Appearance and Characteristics;284
7.2.3;3 Market Relevance;287
7.2.4;4 Project Focus;289
7.2.5;5 Project Development Stage;291
7.2.6;6 Campaign Procedure;293
7.2.7;7 Backer´s Motivation;295
7.2.8;8 Campaigns´ Success Factors;297
7.2.9;9 Risks and Limitations;299
7.2.10;10 Secondary Market;301
7.2.11;11 Legal Framework;302
7.2.12;12 Summary;305
7.2.13;13 Conclusion;305
7.2.14;References;308
7.3;Is Crowdfunding Suitable for Financing German Public Research Organization (PRO) Projects?;314
7.3.1;1 Current Situation;315
7.3.2;2 Rising Expectations: From Research to Knowledge and Technology Transfer;316
7.3.3;3 The Funding Gap;318
7.3.4;4 Crowdfunding as a Financing Instrument for Research and Spin-Off Creation;319
7.3.4.1;4.1 Crowdfunding for Scientific Research and Technology;319
7.3.4.2;4.2 Research Approach;321
7.3.4.3;4.3 Analysis of Preconditions for Scientific Crowdfunding;323
7.3.4.4;4.4 Exemplary Challenges and Propositions for Further Research;323
7.3.4.4.1;4.4.1 Research Project Characteristics: A Barrier for Funding?;323
7.3.4.4.2;4.4.2 Regulation;326
7.3.4.4.3;4.4.3 Crowdfunding as a Channel for Science Communication;329
7.3.4.4.4;4.4.4 Crowd Management;331
7.3.5;5 Conclusion;333
7.3.6;References;334mehr

Autor

Alexandra Moritz is a post-doctoral researcher at the Chair of Management at University of Trier (Germany), where she finished her PhD on Financing of Small and Medium-sized Firms in Europe. Her work has been published in business and economics journals such as Small Business Economics, Venture Capital: An International Journal and Qualitative Research in Financial Markets.



Joern Block is a Professor of Entrepreneurship and Innovation at Erasmus University Rotterdam (The Netherlands) and University of Trier (Germany). His research has been published in journals such as Administrative Science Quarterly, Journal of Business Venturing and Research Policy. Prof. Block is also the Editor-in-Chief of the journal 'Management Review Quarterly' (Springer).



Stephan Golla is Professor of Management and Entrepreneurship at Fulda University of Applied Sciences (Germany) and Adjunct Professor at University of the Sunshine Coast (USC, Australia). Prof. Golla had previously worked in management positions within VC funded startups and was responsible for the IP commercialization at Western Sydney University (Australia). He publishes in the area of students' occupational choices and founder identities.



Arndt Werner is Professor and chair for SME Management and Entrepreneurship at the University of Siegen (Germany). Prof. Werner has published in various entrepreneurship journals including ET&P, Small Business Economics and Journal of Small Business Management.
Weitere Artikel von
Moritz, Alexandra
Hrsg.
Weitere Artikel von
Block, Joern H.
Hrsg.
Weitere Artikel von
Golla, Stephan
Hrsg.