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2020 | OriginalPaper | Buchkapitel

11. Start-Ups Beyond the Crisis: A Survival Analysis

verfasst von : Giulia Baschieri, Giorgio S. Bertinetti, Gloria Gardenal

Erschienen in: Banking and Beyond

Verlag: Springer International Publishing

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Abstract

The aim of this paper is to investigate the role of the initial capital structure in the success and duration of entrant manufacturing start-ups. We select all the Italian manufacturing companies incorporated in the database Aida Bureau van Dijk in 2009; we include financial variables such as leverage (measured as debt-to-asset ratio) and study their impact on firm survival. We use duration analysis as the estimation technique and focus on the time span 2009–2016. Our analysis confirms that the relation between initial leverage and firm hazard is positive and significant also for the Italian manufacturing companies. We also find a weak evidence of a positive relation between the quintiles of the leverage distribution and the hazard ratio but this relation requires further investigation.

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Vorheriges Kapitel The Italian Minibonds Experience in Triveneto

SMEs are characterized by the privacy of contracts, limited accounting disclosure and the minimal presence in public markets.

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Titel: Start-Ups Beyond the Crisis: A Survival Analysis
verfasst von: Giulia Baschieri
Giorgio S. Bertinetti
Gloria Gardenal
Verlag: Springer International Publishing
Buch: Banking and Beyond
Print ISBN: 978-3-030-45751-8

Electronic ISBN: 978-3-030-45752-5

Copyright-Jahr: 2020
DOI: https://doi.org/10.1007/978-3-030-45752-5_11