The impact of the financial crisis on financing technology ventures
by Ann-Kristin Achleitner; Reiner Braun; Georg Metzger; Maximilian Schmidt
International Journal of Entrepreneurship and Small Business (IJESB), Vol. 29, No. 1, 2016

Abstract: 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.

Online publication date: Sun, 31-Jul-2016

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