1.

Record Nr.

UNINA9910298199903321

Autore

Tech Robin P. G

Titolo

Financing High-Tech Startups : Using Productive Signaling to Efficiently Overcome the Liability of Complexity / / by Robin P. G. Tech

Pubbl/distr/stampa

Cham : , : Springer International Publishing : , : Imprint : Springer, , 2018

ISBN

3-319-66155-8

Edizione

[1st ed. 2018.]

Descrizione fisica

1 online resource (216 pages)

Disciplina

658.15224

Soggetti

New business enterprises

Corporations—Finance

Management

Industrial management

Economic policy

Industrial organization

Start-Ups/Venture Capital

Corporate Finance

Innovation/Technology Management

R & D/Technology Policy

Industrial Organization

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Nota di contenuto

Introduction: High-Tech Startup Financing -- Theory: The Liability of Complexity -- Methodology: Mixed Methods Approach -- Study I: Survey of German Startups -- Study II: Interviews with Entrepreneurs and Investors -- Framework: Matching Signals with Complexities of High-Tech Strartups -- Discussion: Why Signals Can Help to Overcome the Liability of Complexity -- Conclusion: Taming Complexity -- Appendix.

Sommario/riassunto

This book examines the adverse effects of complexity, information asymmetries, transaction costs, and uncertainty on investors’ decision making. It suggests mitigating those effects using appropriate and matching signals, and analyzes a sample of 903 German startups to



quantitatively highlight the distinct financing patterns and characteristics of high-tech startups. It then investigates the reasons for these patterns on the basis of a qualitative study that includes 34 interviews with investors and entrepreneurs in the US and Germany and an international expert panel. Lastly, it presents a framework that matches complexity factors with appropriate productive signals. .