Financing High-Tech Startups
Using Productive Signaling to Efficiently Overcome the Liability of Complexity| By: | Robin P. G. Tech |
| Publisher: | Springer Nature |
| Print ISBN: | 9783319661544 |
| eText ISBN: | 9783319661551 |
| Edition: | 0 |
| Copyright: | 2018 |
| Format: | Reflowable |
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This book examines the adverse effects of complexity, information asymmetries, transaction costs, and uncertainty on investors’ decision making. It suggests mitigating those effects using appropriate and matching signals, and analyzes a sample of 903 German startups to quantitatively highlight the distinct financing patterns and characteristics of high-tech startups. It then investigates the reasons for these patterns on the basis of a qualitative study that includes 34 interviews with investors and entrepreneurs in the US and Germany and an international expert panel. Lastly, it presents a framework that matches complexity factors with appropriate productive signals.