Does the regional dimension matter as regards finance and entrepreneurship?
Jean Bonnet (),
Sylvie Cieply and
Marcus Dejardin ()
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Sylvie Cieply: University of Caen Basse-Normandie - CREM-CNRS, France
Economics Working Paper Archive (University of Rennes 1 & University of Caen) from Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS
This article investigates the interrelationships between finance and entrepreneurship by exploring regional discrepancies in France. The focus is (1) on regional differences in financial relationships, (2) on the way these relations influence financial constraints on new firms and (3) on the complementary/substitutable effects between funds. No path of exclusion is identified. Rather, firms that are self-constraining or suffer from a weak credit rationing are the ones that later on develop intensive relationships with banks. Substitution exists in almost all the French regions. Results suggest the departure point of an original pecking order theory according to the entrepreneurial intensity of regions.
Keywords: financial constraints; credit rationing; financial relationships; new firms; regional development; regional disparities (search for similar items in EconPapers)
JEL-codes: G20 M13 R10 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ent, nep-geo, nep-sbm and nep-ure
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Working Paper: Does the regional dimension matter as regards finance and entrepreneurship? (2012)
Working Paper: Does the regional dimension matter as regards finance and entrepreneurship ? (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:tut:cremwp:201127
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