- Consulting Editors
- Finance of New industries
- The Returns to Entrepreneurship
- Risk Attitudes and Private Business Equity
- New Firm Financing and Performance
- New Perspectives On Entrepreneurial Capital Structure
- The Capital Structure of Family Firms
- Influence of Internal Factors on the Use of Equity-and Mezzanine-Based Financing in Family Firms
- Planning For Entrepreneurial Finance And Capital: A Critical Review Of The Importance Of Teaching Business Planning
- Funding Gaps
- Availability of Credit to Small Firms Young and Old: Evidence from the Surveys of Small Business Finances
- Asymmetric Information, Credit Market Condition, and Entrepreneurial Finance
- Alternative Types Of Entrepreneurial Finance
- Angel Investors and Their Investments
- Firm Growth, Schumpeterian Entrepreneurship, and Venture Capital
- Why Do Firms Go Public?
- Valuation Of IPOs
- Trade Credit and Its Role in Entrepreneurial Finance
- Factoring and Invoice Financing
- Project Finance
- Hedge Fund Asset-Based Lending
- Business Taxation, Corporate Finance, and Economic Performance
- Financial Capital among Minority-Owned Businesses
- Financing Women-Owned Firms: A Review Of Recent Literature
- International Differences In Entrepreneurial Finance
- Entrepreneurial Finance in Weak Institutional Environments
- Microfinance for Entrepreneurs
- The Past and Future of Innovations in Microfinance
- Index of Names
Abstract and Keywords
This article examines the financing patterns of minority-owned businesses. It first reviews findings from the previous literature on financing constraints and related constraints faced by minority firms. Next it conducts an extensive empirical analysis of the barriers to financing faced by minority-owned firms using data from three sources: the Survey of Business Owners (SBO), the Kauffman Firm Survey (KFS), and the Survey of Small Business Finances (SSBF). These are the most commonly used and respected sources of data on the financing of minority-owned businesses. The analysis explores the potential barriers to financing among minority-owned firms from the earliest stages of business creation to the financing of successful older firms. The goal is to provide a comprehensive analysis of the use of financial capital among minority-owned firms and the causes of constraints in financing.
Robert W. Fairlie is a professor of economics at the University of California, Santa Cruz. He has held visiting positions at Yale University, UC Berkeley, Australian National University, and the Institute for the Study of Labor (IZA), Germany. His research interests include entrepreneurship, technology, inequality, labor economics, education, and immigration. He recently published Race and Entrepreneurial Success: Black-, Asian-, and White-Owned Businesses in the United States with MIT Press. He is also the author of the Kauffman Index of Entrepreneurial Activity.His research has been published in leading economics, public policy, management, and demography journals. He has received funding for his research from numerous government agencies and foundations, and has testified to the U.S. Congress, U.S. Department of Treasury, and the California State Assembly regarding the findings from his research. Dr. Fairlie holds a PhD and MA in economics from Northwestern University and a BA with honors from Stanford University.
Alicia Robb is a senior research fellow with the Kauffman Foundation, a research associate with the University of California at Santa Cruz, and a visiting scholar with both the Center for European Economic Research (Zentrum für Europäische Wirtschaftsforschung [ZEW]) in Mnnheim, Germany, and the Federal Reserve Bank of Atlanta. Her main research interests are entrepreneurship, entrepreneurial finance, entrepreneurship by women and minorities, and entrepreneurship in emerging markets. Dr. Robb received her MS and PhDd in economics from the University of North Carolina at Chapel Hill. She previously worked as a staff economist for an economic consulting firm and as an economist for the Office of Economic Research in the Small Business Administration and for the Division of Research and Statistics at the Federal Reserve Board for Governors. In addition to numerous journal articles and book chapters, she is the co-author of Race and Entrepreneurial Success, published by MIT Press, and is currently working on her second book on entrepreneurial finance and women-owned businesses for Stanford University Press.
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