TY - UNPB
T1 - University of Caen. University of Rennes 1. CREM Working Papers Series 2011-27: Does the regional dimension matter as regards
finance and entrepreneurship?
AU - Bonnet, Jean
AU - Cieply, Sylvie
AU - Dejardin, Marcus
PY - 2011
Y1 - 2011
N2 - This article investigates the interrelationships between finance and entrepreneurship by exploring regional discrepancies in France. The focus is (1) on regional differences in financial relationships, (2) on the way these relations influence financial constraints on new firms and (3) on the complementary/substitutable effects between funds. No path of exclusion is identified. Rather, firms that are self-constraining or suffer from a weak credit rationing are the ones that later on develop intensive relationships with banks. Substitution exists in almost all the French regions. Results suggest the departure point of an original pecking order theory according to the entrepreneurial intensity of regions.
AB - This article investigates the interrelationships between finance and entrepreneurship by exploring regional discrepancies in France. The focus is (1) on regional differences in financial relationships, (2) on the way these relations influence financial constraints on new firms and (3) on the complementary/substitutable effects between funds. No path of exclusion is identified. Rather, firms that are self-constraining or suffer from a weak credit rationing are the ones that later on develop intensive relationships with banks. Substitution exists in almost all the French regions. Results suggest the departure point of an original pecking order theory according to the entrepreneurial intensity of regions.
KW - regional development
KW - financial constraints
KW - financial relationships
KW - credit rationing
KW - new firms
KW - regional disparities.
M3 - Working paper
BT - University of Caen. University of Rennes 1. CREM Working Papers Series 2011-27: Does the regional dimension matter as regards
finance and entrepreneurship?
ER -