The impact of the financial crisis on financing technology ventures

Ann-Kristin Achleitner, Reiner Braun, Georg Metzger and Maximilian Schmidt

International Journal of Entrepreneurship and Small Business, 2016, vol. 29, issue 1, 4-24

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.

Keywords: start-up financing; entrepreneurial finance; financial crisis; technology ventures; investment activity; Germany; start-ups; internal funding; external funding; long-term assets; tangible assets; intangible assets; growth rates; firm growth. (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijesbu:v:29:y:2016:i:1:p:4-24

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