The recent financial crisis, start‐up financing and survival

Deloof, Marc; Vanacker, Tom

doi:10.1111/jbfa.12319

Cited by 33 publications

(17 citation statements)

References 72 publications

(140 reference statements)

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“…Based on extant literature, the results we have presented on the negative impact of the recession on young firms are, if anything, underestimated. Recent contributions have indicated that start-ups founded in recessionary years have a higher probability of going bankrupt, relative to start-ups founded in nonrecessionary years ( Deloof and Vanacker, 2018 ). Huber et al (2017) , who use Austrian data and adopt a methodology similar to ours, find that young firms decrease their employment growth during the Great Recession when considering firms conditional on survival.…”

Section: Discussionmentioning

confidence: 70%

The effect of the Great Recession on the employment growth of young vs. small firms in the Eurozone

Mina

Santoleri

2021

Structural Change and Economic Dynamics

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This paper examines the uneven impact of the Great Recession on firm-level employment growth across firm size and age classes. Based on firm-level data from ten Eurozone countries, we show that, notwithstanding the negative impact of the crisis, young firms were the most dynamic group of firms and prime contributors to net job creation even during the recession. However, conditional on survival, young firms experienced a sharp drop in their employment growth rates, whereas small firms were mostly unaffected. By using industry-level measures of external financial dependence, we then show how financial frictions were a driver of the growth rates slowdown of young firms.

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Section: Discussionmentioning

confidence: 70%

The effect of the Great Recession on the employment growth of young vs. small firms in the Eurozone

Mina

Santoleri

2021

Structural Change and Economic Dynamics

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“…The practice of using digital equipment, platform solutions and software on leasing terms has already become widespread. Digital startups are becoming increasingly popular [16]. The construction industry is already a consumer of developed digital technologies [17].…”

Section: The Content Of the International Financial Leasing Transactionmentioning

confidence: 99%

Civil law regulation of investments in the digital infrastructure of the construction industry

et al. 2021

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Civil law regulation of investments combines regulations from different industry sectors and is characterized by its complexity. An efficient type of investment in the digital infrastructure of the construction industry is a financial lease. The purpose of the study is to characterize the civil law regulation of a financial lease. The methodological basis was the technical and legal method that ensures the effectiveness of the analysis of civil law regulation of a financial lease, the adequacy of the assessment of concepts and legal structures. The following results of the study have been obtained: the content of the international financial leasing transaction and the essence of a financial lease in Russia have been determined; particular aspects of the implementation of the UNIDROIT Convention in Russia have been identified. The content of the international financial leasing transaction reflects a threeway process with the participation of the equipment seller, lessor and lessee, who are linked by a supply contract and a lease contract. In Russian legislation, the term «financial lease» is used. The essence of a financial lease reflects both a lease contract with elements of sale in conjunction with the purchase option and the type of secured financing. Particular aspects of the implementation of the UNIDROIT Convention in Russia are due to different terminology and are associated with cross-border leasing. A draft federal law is undergoing a regulatory impact assessment, which provides for the introduction of a financial lease concept. Civil law regulation of leasing relations will ensure the effectiveness of attracting investments in order to improve the digital infrastructure of the construction industry.

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“…In the case of firm survival is startup capital, previous studies based on firm survival often highlight the important role played by financial capital (Cooper et al, 1994), so that in the case of new firms, one would anticipate higher levels of financial capital at startup would improve a firm's chances of survival because so they have more time to access additional sources of capital before their startup capital runs out (Liao et al, 2008;Parker and Belghitar, 2006), while startups founded in crisis years useless bank debt and have a higher likelihood of bankruptcy (Deloof and Vanacker, 2018).…”

Section: Internal Determinants Of Firm's Survivalmentioning

confidence: 99%

Business Survival, a Literary Review of Internal and External Determinants

Garavito-Hernández¹,

Galvis²,

Capacho³

2021

criteriolibre

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Numerous studies have analyzed the factors that influence the survival of companies, which is why the objective of this article is to review the internal and external determinants from the literature that most influence the permanence over time of companies in the market. Therefore, a descriptive literature review was carried out on the main findings on the positive effects of innovation, level of training in R&D employees, and collaboration between companies, proposing a moderating effect between these factors and business survival.

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The recent financial crisis, start‐up financing and survival

Cited by 33 publications

References 72 publications

The effect of the Great Recession on the employment growth of young vs. small firms in the Eurozone

The effect of the Great Recession on the employment growth of young vs. small firms in the Eurozone

Civil law regulation of investments in the digital infrastructure of the construction industry

Business Survival, a Literary Review of Internal and External Determinants

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