- 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
Access to finance is necessary for the efficient allocation of capital and firm growth. However, most surveys find that current and potential entrepreneurs report that access to finance is one of the biggest hurdles to starting and growing a new business. For instance, in the World Bank Enterprise Surveys (2009), 31 percent of firm owners around the world report access to finance as a major constraint to growth, while this figure is 40 percent for firms under three years of age. Given the important role that entrepreneurship is believed to play in the process of economic growth, many governments around the world are concerned with alleviating financing constraints for current and potential entrepreneurs.
Larry Chavis is professor of strategy and entrepreneurship at the University of North Carolina Kenan-Flagler Business School. His undergraduate degree is in anthropology from Duke University. He holds masters degrees from Cornell University in Asian studies and applied economics. His PhD in economics is from the Stanford Graduate School of Business where he was advised by John McMillan. He is broadly interested in economic incentives, especially in the way in which distorted incentives affect markets in developing countries.
Leora Klapper, World Bank, email@example.com
Inessa Love is a senior economist on the Finance Team of the Development Research Group. Her recent research has focused on the relationship between entrepreneurship, business environment and financial crisis, and the impact of global crisis on firm stock returns. She holds a PhD in finance and economics from the Columbia University Graduate School of Business.
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