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On the Role of Entrepreneurial Experience for Start-up Financing: An Empirical Investigation for Germany
Metzger, Georg
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URL:
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http://ub-madoc.bib.uni-mannheim.de/1582
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URN:
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urn:nbn:de:bsz:180-madoc-15826
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Dokumenttyp:
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Arbeitspapier
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Erscheinungsjahr:
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2007
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Titel einer Zeitschrift oder einer Reihe:
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None
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Sprache der Veröffentlichung:
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Englisch
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Einrichtung:
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Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
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MADOC-Schriftenreihe:
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Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
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Fachgebiet:
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330 Wirtschaft
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Fachklassifikation:
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JEL:
M13 L26 G32 ,
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Normierte Schlagwörter (SWD):
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Unternehmensgründung , Finanzierung , Unternehmer , Berufserfahrung , Konkurs , Risikokapital , Schätzung , Deutschland
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Freie Schlagwörter (Englisch):
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Entrepreneurial experience , restart , start-up financing
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Abstract:
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Entrepreneurs are often faced with problems regarding start-up financing. But compared to novice entrepreneurs, experienced entrepreneurs should have both more knowledge and better contacts, which should potentially reduce the occurrence of problems and affect finance composition. However, experience of business failure might result in additional effects. This analysis therefore investigates the effects of experience on several aspects of start-up financing. It is based on data from the KfW Start-up Monitor, a representative annual survey of the German population. The results show that experience affects several financing issues. Yet the impacts depend on the kind of experience. With regard to previously failed entrepreneurs, who are of particular interest, the findings indicate that they cut back their financing demand and are more likely faced with problems satisfying this demand. However, previously failed entrepreneurs do not significantly differ in the sources they use to finance their businesses.
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Zusätzliche Informationen:
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 | Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt. |
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