Analysis of the capital structure of startups in light of the tradeoff and pecking Order theories
Gabriela de Carvalho Colombo,
Matheus da Costa Gomes,
João Paulo Augusto Eça
et al.
Abstract:Purpose: Startups have significant differences compared to other companies. They have many intangible assets (e.g., team tenure and experience of founders), are risky, and tend not to generate profits in their initial years (Heirman & Clarysse, 2007; Weber & Zulehner, 2009). Does the startups’ financing choice also differ from that of traditional companies? We analyzed the capital structure of startups in their first years of life based on the classic tradeoff and pecking order theories. Methodology/ap… Show more
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