TY - JOUR
T1 - The impact of the financial crisis on financing technology ventures
AU - Achleitner, Ann Kristin
AU - Braun, Reiner
AU - Metzger, Georg
AU - Schmidt, Maximilian
N1 - Publisher Copyright:
Copyright © 2016 Inderscience Enterprises Ltd.
PY - 2016
Y1 - 2016
N2 - This study examines the impact of the financial crisis on technology venture financing and investment activity. Multivariate analyses on a sample of 1,916 German technology ventures from 2007 to 2011 show that the total financing volume dropped during the financial crisis. This drop was driven by a decrease in internal and external funding. As one consequence, technology ventures, especially those with strong growth potential, reduced their investment activities in long-term tangible and intangible assets. The practical implications are worrisome, since the future prospects and growth rates of these technology ventures are likely to be affected.
AB - This study examines the impact of the financial crisis on technology venture financing and investment activity. Multivariate analyses on a sample of 1,916 German technology ventures from 2007 to 2011 show that the total financing volume dropped during the financial crisis. This drop was driven by a decrease in internal and external funding. As one consequence, technology ventures, especially those with strong growth potential, reduced their investment activities in long-term tangible and intangible assets. The practical implications are worrisome, since the future prospects and growth rates of these technology ventures are likely to be affected.
KW - Entrepreneurial finance
KW - Financial crisis
KW - Start-up financing
UR - http://www.scopus.com/inward/record.url?scp=84982840968&partnerID=8YFLogxK
U2 - 10.1504/IJESB.2016.078051
DO - 10.1504/IJESB.2016.078051
M3 - Article
AN - SCOPUS:84982840968
SN - 1476-1297
VL - 29
SP - 4
EP - 24
JO - International Journal of Entrepreneurship and Small Business
JF - International Journal of Entrepreneurship and Small Business
IS - 1
ER -