Start-up financing:a comparative perspective


We investigate the determinants of start-up financing in 41 countries, using the Global Entrepreneurship Monitor surveys for 1998-20032. High quality of property rights increases both the total volume of finance and the use of external finance for the individual start-up. The size of the formal financial sector affects the start-up finance via enhancing the volume of self-finance. In addition, the use of external finance by start-ups correlates with the extent of financial restrictions in a country in a non-linear way. Supply of informal finance may to some extent substitute for the use of formal finance.

Divisions: College of Business and Social Sciences > Aston Business School > Economics, Finance & Entrepreneurship
College of Business and Social Sciences > Aston Business School
Uncontrolled Keywords: start-up finance,entrepreneurial traits,informal finance,financial restrictions,property rights,Global Entrepreneurship Monitor
Last Modified: 21 Aug 2023 07:51
Date Deposited: 23 Apr 2013 09:51
Full Text Link: http://discover ... 443/1/17443.pdf
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PURE Output Type: Working paper
Published Date: 2008-12
Authors: Korosteleva, Julia
Mickiewicz, Tomasz (ORCID Profile 0000-0001-5261-5662)



Version: Published Version

License: Creative Commons Attribution

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