Capital Market Imperfections, High‐Tech Investment, and New Equity Financing

Clicks: 2
ID: 299786
2002
Free PDF
Article Quality & Performance Metrics
Overall Quality
Not rated
Combines reader engagement with the AI quality analysis. This article has not been analysed, so there is no overall score — reader engagement is measured and shown alongside.
AI Quality Assessment
Not analyzed
Readership in this journal
Emerging

Ranked #255 of 265 articles by views in the economic journal

Most read Least read

Bar heights use a square-root scale. Only the 120 most-read articles are drawn; the journal has 265 in total.

Mint this article as an NFT
Not yet minted

Create a permanent, verifiable on-chain record of this article on the Scimatic Network. The NFT is held in your Journament account, and you can withdraw it to your own wallet at any time.

5 SUSD one-off · no wallet required
Sign in to mint
Abstract
Highly variable returns, asymmetric information and a lack of collateral should cause small high‐tech firms to have poor access to debt. New equity financing has several advantages over debt, but may be costly compared to internal finance. We examine an unbalanced panel of over 2,400 publicly traded US high‐tech companies over the period 1981–98. Most small high‐tech firms obtain little debt financing. New equity financing, in the form of the initial public offering, is very important and permits a major increase in firm size. After going public, comparatively few firms make heavy use of external finacing.
Reference Key
openalex_W2166941765 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Robert E. Carpenter, Bruce C. Petersen
Journal the economic journal
Year 2002
DOI
10.1111/1468-0297.00683
URL
https://doi.org/10.1111/1468-0297.00683
Keywords Keywords not found

Citations

No citations found. To add a citation, contact the admin at info@scimatic.org

Comments

No comments yet. Be the first to comment on this article.