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L'accesso al credito bancario da parte delle start-up tecnologiche italiane

Author

Listed:
  • Massimo G. Colombo

    (Politecnico di Milano)

  • Luca Grilli

    (Politecnico di Milano)

Abstract

This paper aims to shed new light on start-up financing of new technology-based firms (NTBFs) and the existence of credit cons- traints that may negatively affect their activity. For this purpose, we analyze the different sources of start-up financing used by a sample composed of 386 Italian NTBFs that operate both in manufacturing and services. We provide evidence of the existence of serious imperfections in the Italian credit market, supporting the view that there is a financing hierarchy. We also show that credit to NTBFs is likely to be rationed: the credit supply curve turns out to be inelastic (even though not perfectly so).

Suggested Citation

  • Massimo G. Colombo & Luca Grilli, 2005. "L'accesso al credito bancario da parte delle start-up tecnologiche italiane," Rivista di Politica Economica, SIPI Spa, vol. 95(3), pages 165-218, May-June.
    • Handle: RePEc:rpo:ripoec:v:95:y:2005:i:3:p:165-218
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    Cited by:

    1. Barbara ERMINI, 2008. "Oltre Gibrat. Capitale umano dei fondatori, endogeneita' del finanziamento pubblico e crescita delle giovani imprese hi-tech italiane," Working Papers 322, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.

    More about this item

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

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