Atherton, Andrew (2009) Rational actors, knowledgeable agents: extending pecking order consideration of new venture financing to incorporate founder experience, knowledge and networks. International Small Business Journal, 27 (4). pp. 470-495. ISSN 0266-2426
Full content URL: http://dx.doi.org/10.1177/0266242609334969
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| Item Type: | Article |
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| Item Status: | Live Archive |
Abstract
Standard explanations of the decisions made by new firm founders when acquiring financing to start ventures tend to refer to the efficiency and economic rationales underpinning such choices. In this article, pecking order approach is applied to 26 cases of new venture creation to test such 'rational actor' approaches.When pecking order considerations are extended to incorporate previous experiences of acquiring finance and perceptions of the ease and feasibility of doing so, a fuller explanation of decisions and patterns in new venture financing emerges.A key implication of this analysis is the need to consider the experiential and knowledge base of founders when seeking to understand the dynamics and drivers of new business funding. © 2009 SAGE Publications.
| Keywords: | Entrepreneurship, Founder experience, New venture, SME start-up finance |
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| Subjects: | N Business and Administrative studies > N215 Organisational Development |
| Divisions: | Lincoln International Business School |
| Related URLs: | |
| ID Code: | 9932 |
| Deposited On: | 18 Dec 2013 19:34 |
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