More extensive regulations, new technologies, and new means of communication have significantly changed the financing landscape for startups and small to medium-sized companies (SMEs). This volume provides a contemporary research-based overview of the latest trends in entrepreneurial finance and outlines expected future developments. Starting with the status quo in market regulations and the financing structure of SMEs, it addresses a broad range of new financing alternatives for innovative startups (e.g. business angel financing, venture capital and corporate venture capital), as well as recent social phenomena (e.g. crowdfunding and initial coin offerings (ICOs)). Incorporating qualitative, quantitative and mixed analytical methods, the book contributes to a better understanding of the financing world by reflecting both the researcher’s and the practitioner’s perspective.
Part I. Status Quo in SME Financing and Financial Market Regulation.-
European SME Financing: An Empirical Taxonomy.- The European Capital Markets
Union and its Impact on Future SME Financing.- Innovation and Investment
Finance in Comparison.- Trends in Financing Programs for the Development of
Micro, Small and Medium Enterprises (MSMEs) in Nigeria: A Qualitative
Meta-Synthesis.- Part II. Entrepreneurial Finance from Established Risk
Capital Providers.- Research on Venture Capitalists and Business Angels
Investment Criteria: A Systematic Literature Review.- Measuring Venture
Capital Sentiment in Europe.- The Private Value of Patents for
Government-supported Start-Ups: The Case of the European Investment Fund.- In
which Regions do Governmental, Independent, and Corporate Venture Capital
Firms Invest? An Empirical Investigation across 402 German Regions.- Playing
with the Devil? Organizational Voids within Corporate Venture Capital Dyads.-
Part III. New Trends in Entrepreneurial Finance.- Social Finance in Europe:
The Transition from Grants to Follow-up Financing for Social Enterprises.-
Democratising Entrepreneurial Finance: The Impact of Crowdfunding and Initial
Coin Offerings (ICOs).- Is Crowdfunding Suitable for Financing German Public
Research Organization (PRO) Projects?.
Alexandra Moritz is a post-doctoral researcher at the Chair of Management at University of Trier (Germany), where she finished her PhD on Financing of Small and Medium-sized Firms in Europe. Her work has been published in business and economics journals such as Small Business Economics, Venture Capital: An International Journal and Qualitative Research in Financial Markets. Joern Block is a Professor of Entrepreneurship and Innovation at Erasmus University Rotterdam (The Netherlands) and University of Trier (Germany). His research has been published in journals such as Administrative Science Quarterly, Journal of Business Venturing and Research Policy. Prof. Block is also the Editor-in-Chief of the journal 'Management Review Quarterly' (Springer). Stephan Golla is Professor of Management and Entrepreneurship at Fulda University of Applied Sciences (Germany) and Adjunct Professor at University of the Sunshine Coast (USC, Australia).Prof. Golla had previously worked in management positions within VC funded startups and was responsible for the IP commercialization at Western Sydney University (Australia). He publishes in the area of students occupational choices and founder identities. Arndt Werner is Professor and chair for SME Management and Entrepreneurship at the University of Siegen (Germany). Prof. Werner has published in various entrepreneurship journals including ET&P, Small Business Economics and Journal of Small Business Management.
