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The logic of the entrepreneur: implications of the entrepreneur's perception of early-stage financing
Linköping University, Department of Management and Economics. Linköping University, The Institute of Technology.
Linköping University, The Institute of Technology. Linköping University, Department of Management and Economics.ORCID iD: 0000-0002-5960-9270
2005 (English)In: International Journal of Entrepreneurship and Innovation, ISSN 1465-7503, E-ISSN 2043-6882, Vol. 6, no 2, 85-95 p.Article in journal (Refereed) Published
Abstract [en]

A general and well known problem on the financial market today is the lack of capital for new ventures. Knowledge on how to overcome the financial gap and deliver proper financial solutions for such firms is also scarce. This paper focuses on the perceived importance of early-stage financing to the entrepreneur. The data used emanate from a survey of 165 knowledge-intensive ventures, located in the areas around six universities in Sweden. The study shows that an ambition to grow in general, and on the international market in particular, and a business concept not exclusively offering services and localization in a business incubator are the main attributes that explain differences in perception of external actors as sources of financing. The authors found that it was important to use a holistic approach when studying ventures, taking into account a broad set of variables dealing with venture characteristics, the entrepreneur and external relations.

Place, publisher, year, edition, pages
2005. Vol. 6, no 2, 85-95 p.
National Category
Social Sciences
Identifiers
URN: urn:nbn:se:liu:diva-32326DOI: 10.5367/0000000053966867Local ID: 18218OAI: oai:DiVA.org:liu-32326DiVA: diva2:253148
Available from: 2009-10-09 Created: 2009-10-09 Last updated: 2017-12-13
In thesis
1. Early-stage finance: exploring the financial context of small and young knowledge-intensive firms
Open this publication in new window or tab >>Early-stage finance: exploring the financial context of small and young knowledge-intensive firms
2005 (English)Licentiate thesis, comprehensive summary (Other academic)
Abstract [en]

This thesis essentially explores early-stage finaneing of small and young knowledge-intensive finns. The three studies underlying the thesis deal with the entrepreneurs' attitudes to financing and the creation of spin-affs in a corporate venture capital setting. The major questions posed in the thesis embrace:

  • What variables underlying the business creation process govern the elementary logic behind the entrepreneur's perceived importance of different actors as financiers?
  • Do cognition elements of risk and contral influence the entrepreneur's attitudes towards financing?
  • What is the strategic and financial logic behind a large public corporation initiative to continuously create internal and non-strategic ventures?

In the pursuit of answering the above research questions two survey studies and one case study were accomplished. Interesting findings cornprise the significance of the business context, the novelty of the venture idea, existing financing, the entrepreneur's extent of self-efficacy and expectations on externai financiers in determining the entrepreneur's attitudes towards financing.

Another insight uncovered in this thesis is the delicate balance between generating short-term financial gains through the creation of non-strategic internal ventures, and at the same time sustaining overall business strategy. In certain conditions, it might even be possible that such venturing activities might function as a strategic trash can reinforcing the business strategy pursued, and at the same time generate short-term profits.

Place, publisher, year, edition, pages
Linköping: Linköping University Electronic Press, 2005. 67 p.
Series
Linköping Studies in Science and Technology. Thesis, ISSN 0280-7971 ; 1222Dissertations from the International Graduate School of Management and Industrial Engineering, ISSN 1402-0793 ; 99
National Category
Social Sciences
Identifiers
urn:nbn:se:liu:diva-65869 (URN)LiU-TEK-LIC-2005:74 (Local ID)91-85457-95-7 (ISBN)LiU-TEK-LIC-2005:74 (Archive number)LiU-TEK-LIC-2005:74 (OAI)
Presentation
2005-02-25, Terrafirman Hus Terra, Campus Valla, Linköpings universitet, Linköping, 13:15 (English)
Supervisors
Available from: 2011-02-23 Created: 2011-02-23 Last updated: 2016-05-04Bibliographically approved

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Nouira, SemirKlofsten, Magnus

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