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Does the presence of a formal business plan increase formal financial support? Empirical evidence from the PSED II on the signalling and mimetic nature of formal business planning

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  • Christian Hopp

Abstract

In this article, we examine longitudinal data from the Panel Study of Entrepreneurial Dynamics II to infer whether formal business planning affects the amount of formal financing raised by nascent entrepreneurs. Our findings suggest that by and large the use of business plans is mimetic and reveals only limited information about the underlying entrepreneur. Yet, entrepreneurs that write formal business plan receive more formal financial support than had they not planned formally.

Suggested Citation

  • Christian Hopp, 2015. "Does the presence of a formal business plan increase formal financial support? Empirical evidence from the PSED II on the signalling and mimetic nature of formal business planning," Applied Economics Letters, Taylor & Francis Journals, vol. 22(9), pages 673-678, June.
    • Handle: RePEc:taf:apeclt:v:22:y:2015:i:9:p:673-678
    DOI: 10.1080/13504851.2014.967377
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    Cited by:

    1. Marcos Segantini & Lori A. Dickes, 2020. "Recurrent funding in entrepreneurship: an analysis of repeated events," Documentos de Investigación 123, Universidad ORT Uruguay. Facultad de Administración y Ciencias Sociales.
    2. Shahid, Pirzada Syed Rizwan, 2023. "Founder's Human Capital and the Entrepreneurial Process Duration," OSF Preprints yf6mg, Center for Open Science.
    3. Christian Hopp & Gernot Pruschak & Michel Krebs, 2024. "Are corporate affiliations conducive to nascent entrepreneurship?," International Entrepreneurship and Management Journal, Springer, vol. 20(3), pages 2241-2262, September.
    4. Maribel Guerrero & Francisco Liñán & F. Rafael Cáceres-Carrasco, 2021. "The influence of ecosystems on the entrepreneurship process: a comparison across developed and developing economies," Small Business Economics, Springer, vol. 57(4), pages 1733-1759, December.

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