We study the impact of measures devoted to relieving financial constraints for the growth and survival of Italian innovative start-ups. Using balance sheet data on innovative start-ups and information on the use of the Italian Central Guarantee Fund for small and medium-sized enterprises, we evaluate whether access to the fund, relieving financial constraints, helps innovative start-ups survive and grow. We find innovative start-ups benefit significantly more than similar control firms. We shed light on the relevance of policies aimed at reducing financial constraints for the growth and survival of innovative start-ups, an issue receiving increasing attention at the European level.

Financial constraints and the growth and survival of innovative start-ups: An analysis of Italian firms / Ferrucci, E.; Guida, R.; Meliciani, V.. - In: EUROPEAN FINANCIAL MANAGEMENT. - ISSN 1354-7798. - 27:2(2021), pp. 364-386. [10.1111/eufm.12277]

Financial constraints and the growth and survival of innovative start-ups: An analysis of Italian firms

Ferrucci E.;Meliciani V.
2021

Abstract

We study the impact of measures devoted to relieving financial constraints for the growth and survival of Italian innovative start-ups. Using balance sheet data on innovative start-ups and information on the use of the Italian Central Guarantee Fund for small and medium-sized enterprises, we evaluate whether access to the fund, relieving financial constraints, helps innovative start-ups survive and grow. We find innovative start-ups benefit significantly more than similar control firms. We shed light on the relevance of policies aimed at reducing financial constraints for the growth and survival of innovative start-ups, an issue receiving increasing attention at the European level.
financial constraints; growth; innovative start-ups; survival
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11385/199300
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