- 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 begins by surveying some macro-level evidence of the importance of banks for start-up activity. Then, because household financial decisions are intertwined with entrepreneurial financing decisions, the article provides a framework for delineating different types of entrepreneurial financing decisions. After this it considers evidence gleaned from the Panel Study of Entrepreneurial Dynamics, a multiwave panel of nascent entrepreneurs and the businesses they start. Evidence from the Kauffman Firm Survey, a multiwave panel of firms that were started in 2004, follows. The remainder of the article considers additional sources of evidence and concludes with a discussion of the policy relevance of the importance of debt.
David Robinson is a professor of finance at Duke University's Fuqua School of Business. He is also a faculty research associate in the National Bureau of Economic Research's Productivity Program. He graduated from the London School of Economics with a master degree in economics, and earned MBA and PhD degrees from the University of Chicago. He has published numerous scholarly articles in top finance and economics journals. His research interests include empirical corporate finance, entrepreneurship, venture capital, and private equity.
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