Entrepreneurship and Financing: Empirical Characterization of New Catalan Companies and the Influence of Belonging to a Business Group | Zendy

Sir. Josep CASTELLÀ-ESCOLÀ | Zendy; Joan TorrentSellens | Zendy; Dra. M. Pilar CURÓS-VILÀ | Zendy

Open Access

Entrepreneurship and Financing: Empirical Characterization of New Catalan Companies and the Influence of Belonging to a Business Group

Author(s) -

Sir. Josep CASTELLÀ-ESCOLÀ,

Joan TorrentSellens,

Dra. M. Pilar CURÓS-VILÀ

Publication year - 2015

Publication title -

journal of small business and entrepreneurship development

Language(s) - English

Resource type - Journals

eISSN - 2333-6382

pISSN - 2333-6374

DOI - 10.15640/jsbed.v3n2a2

Subject(s) - catalan , entrepreneurship , corporate group , empirical research , business , venture capital , finance , business administration , humanities , corporate governance , philosophy , epistemology

This paper studies behavior of funders’ agents in Catalonia, with the aim of determine if there are differences between traditional (bank) or alternative (venture) capital in financing entrepreneurship’s projects, considering the relationship with business group and other carhacteristics. The study is based on quantitative analysis of financing in 300 new Catalan companies created in Catalonia from 2006 to 2011. The results indicate a tendency in firms belonging to business groups to have more funding from banks and greater perception of public aids. There are also differences regarding export activity and complexity, which are higher in companies belonging to business groups.

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