Financing of technology-intensive small businesses: Some evidence on the uniqueness of the ICT sector

Information Economics and Policy

Volumn 17, Issue 1, 2005, Pages 115-132

  Hyytinen, Ari ^a,b   Pajarinen, Mika ^a  

^a Elinkeinoelaman Tutkimuslaitos   (Finland)

^b UNIVERSITY OF CALIFORNIA   (United States)

Author keywords

Capital structure; Growth options; ICT; R D

Indexed keywords

DATA ACQUISITION; FINANCE; INDUSTRIAL ECONOMICS; MARKETING; TELECOMMUNICATION;

INFORMATION AND COMMUNICATIONS TECHNOLOGY (ICT); TECHNOLOGY-INTENSIVE SMALL BUSINESSES;

INFORMATION TECHNOLOGY;

FINANCIAL PROVISION; INFORMATION AND COMMUNICATION TECHNOLOGY; RESEARCH AND DEVELOPMENT; SMALL SCALE INDUSTRY;

EASTERN HEMISPHERE; EURASIA; EUROPE; FINLAND; NORTHERN EUROPE; SCANDINAVIA; WORLD;

EID: 11344254409     PISSN: 01676245     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.infoecopol.2004.03.005     Document Type: Article

References (20)

1. Aghion P. Tirole J. The management of innovation Quarterly Journal of Economics 109 1994 1185-1210
2. Anton J.J. Yao D.A. Expropriation and inventions: Appropriable rents in the absence of property rights American Economic Review 84 1994 190-209
3. Baker M. Stein J.C. Wurgler J. When does the market matter? Stock prices and the investment of equity-dependent firms Quarterly Journal of Economics 118 2003 969-1006
4. Barclay, M.J., Morellec, E., Smith, C.W. Jr., in press. On the debt capacity of growth options, Journal of Business
5. Dosi G. Sources, procedures, and microeconomic effects of innovation Journal of Economic Literature 26 1988 1120-1171
6. Griliches Z. The search for R&D spillovers Scandinavian Journal of Economics 94 1992 29-48
7. Harris M. Raviv A. The theory of capital structure Journal of Finance 54 1991 1969-1997
8. Holmström B. Agency costs and innovation Journal of Economic Behavior and Organization 12 1989 305-327
9. Hyytinen, A., Pajarinen, M., 2003. Small business finance in Finland. A descriptive study. In: Hyytinen, A., Pajarinen, M. (Eds.), Financial Systems and Firm Performance: Theoretical and Empirical Perspectives, ETLA B-200 (Taloustieto Ltd, Helsinki)
10. Jensen M.C. Agency costs of free cash flow, corporate finance and takeovers American Economic Review 76 1986 323-329
11. Jensen M.C. Meckling W.H. Theory of the firm: Managerial behaviour, agency costs and ownership structure Journal of Financial Economics 3 1976 305-360
12. Koski H.A. Majumdar S.K. Paragons of virtue? Competitor entry and the strategies of incumbents in the US local telecommunications industry Information Economics and Policy 14 2002 453-480
13. Martin S. Scott J.T. The nature of innovation market failure and the design of public support for private innovation Research Policy 29 2000 437-447
14. Myers S.C. Determinants of corporate borrowing Journal of Financial Economics 5 1977 147-175
15. Myers S.C. Majluf N. Corporate financing and investment when firms have information that investors do not have Journal of Financial Economics 13 1984 187-221
16. Organisation for Economic Co-operation and Development (OECD), 2000. Measuring the ICT Sector, Paris
17. Rousseeuw P.J. Leroy A.M. Robust Regression and Outlier Detection 1987 John Wiley and Sons Ltd West Sussex
18. Schoder D. Forecasting the success of telecommunications services in the presence of network effects Information Economics and Policy 12 2000 181-200
19. Varian, H.R., 2001. Economics of information technology, mimeo, University of California, Berkeley. Available from http://www.sims.berkeley.edu/~hal/
20. Zingales L. In search of new foundations Journal of Finance 55 2000 1623-1653