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Advanced Introduction to Entrepreneurial Finance
This book synthesises and stretches our knowledge on entrepreneurial finance and will be invaluable for high level MBA students. It reviews the state-of-the-art and the context of entrepreneurial finance, before outlining the entrepreneur's perspective on the demand for capital, the financier's perspective on its supply and the future direction of research in the area.
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Critical Acclaim
Contents
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Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world’s leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas.
Hans Landström’s book provides a comprehensive understanding of entrepreneurial finance from the entrepreneur and investor’s perspectives. With a unique research-based focus, he synthesizes contemporary knowledge and presents diverse theoretical approaches to explain financial decision-making in entrepreneurial ventures.
This Advanced Introduction analyses the financial problems facing the diverse range of entrepreneurial projects taking into consideration the changing nature of entrepreneurial ventures today. In particular, this work focuses on the demand for finance and financial decisions taken by entrepreneurs in new and growing ventures. In addition, it includes a detailed discussion of the supply of capital from debt-capital providers, like banks and microfinance organizations, and equity-capital providers, such as crowd investors, business angels and venture capitalists. It concludes by considering the characteristics of financial markets for entrepreneurial finance, examining both financial gaps and public interventions.
Key features include:
• a strong focus on the entrepreneur’s perspective in entrepreneurial finance, yet also a discussion on the supply of capital for ventures from different capital providers such as governments, banks, crowd investors, business angels and venture capitalists
• synthesized contemporary knowledge on entrepreneurial finance to provide a comprehensive, accessible understanding
• a starting point for entrepreneurship studies, with a focus on young and growing ventures.
This is ideal for advanced students and scholars in entrepreneurship, innovation, finance and business. Policy-makers interested in financial issues in young and growing ventures will also find this Advanced Introduction a useful tool for exploring financial decision-making from an entrepreneur’s perspective.
Hans Landström’s book provides a comprehensive understanding of entrepreneurial finance from the entrepreneur and investor’s perspectives. With a unique research-based focus, he synthesizes contemporary knowledge and presents diverse theoretical approaches to explain financial decision-making in entrepreneurial ventures.
This Advanced Introduction analyses the financial problems facing the diverse range of entrepreneurial projects taking into consideration the changing nature of entrepreneurial ventures today. In particular, this work focuses on the demand for finance and financial decisions taken by entrepreneurs in new and growing ventures. In addition, it includes a detailed discussion of the supply of capital from debt-capital providers, like banks and microfinance organizations, and equity-capital providers, such as crowd investors, business angels and venture capitalists. It concludes by considering the characteristics of financial markets for entrepreneurial finance, examining both financial gaps and public interventions.
Key features include:
• a strong focus on the entrepreneur’s perspective in entrepreneurial finance, yet also a discussion on the supply of capital for ventures from different capital providers such as governments, banks, crowd investors, business angels and venture capitalists
• synthesized contemporary knowledge on entrepreneurial finance to provide a comprehensive, accessible understanding
• a starting point for entrepreneurship studies, with a focus on young and growing ventures.
This is ideal for advanced students and scholars in entrepreneurship, innovation, finance and business. Policy-makers interested in financial issues in young and growing ventures will also find this Advanced Introduction a useful tool for exploring financial decision-making from an entrepreneur’s perspective.
Critical Acclaim
‘I think readers can learn a great deal from this book. Indeed, I hope it will inspire more researchers to engage in entrepreneurial finance as a fascinating research topic.’
– Douglas Cumming, International Small Business Journal
‘Over the last decades, Hans Landström has made important contributions to the financial bootstrapping, business angel and venture capital literatures. In this book, he provides a rich overview of the entrepreneurial finance literature, going back to the earliest contributions and breaking down the “silos” of research on entrepreneurial finance that developed in the entrepreneurship and finance literatures. Experienced researchers and PhD students will find much to learn in this book to position their own research vis-à-vis the state of the art.’
– Tom Vanacker, Ghent University, Belgium
‘This book is outstanding and provides an excellent review of the study of entrepreneurial finance. It is research-based and expands our understanding of the application and adaption of traditional financial techniques to the management of new and growing ventures. The book takes the perspectives of both capital providers and entrepreneurs, with significant attention being devoted to the financial decision-making behaviors in entrepreneurial firms. Overall, this book is a must-read and offers a comprehensive and critical discussion of knowledge on the fundamental topic of entrepreneurial finance.’
– Dirk De Clercq, Brock University, Canada
– Douglas Cumming, International Small Business Journal
‘Over the last decades, Hans Landström has made important contributions to the financial bootstrapping, business angel and venture capital literatures. In this book, he provides a rich overview of the entrepreneurial finance literature, going back to the earliest contributions and breaking down the “silos” of research on entrepreneurial finance that developed in the entrepreneurship and finance literatures. Experienced researchers and PhD students will find much to learn in this book to position their own research vis-à-vis the state of the art.’
– Tom Vanacker, Ghent University, Belgium
‘This book is outstanding and provides an excellent review of the study of entrepreneurial finance. It is research-based and expands our understanding of the application and adaption of traditional financial techniques to the management of new and growing ventures. The book takes the perspectives of both capital providers and entrepreneurs, with significant attention being devoted to the financial decision-making behaviors in entrepreneurial firms. Overall, this book is a must-read and offers a comprehensive and critical discussion of knowledge on the fundamental topic of entrepreneurial finance.’
– Dirk De Clercq, Brock University, Canada
Contents
Contents: Part I Introduction 1. The Basics Of Entrepreneurial Finance Part II The Financial Context 2. The Context Of Entrepreneurial Finance 3. Public Interventions On Entrepreneurial Finance Part III The Entrepreneurs’ Perspective 4. The Demand For Capital – Empirical Evidence 5. The Demand For Capital – Theoretical Explanations Part IV The Financiers’ Perspective 6. Debt Capital Finance 7. Equity Capital Finance Index
