Regional determinants of access to entrepreneurial finance: a conceptualisation and empirical study in Norwegian startup ecosystems
This paper presents hypotheses and a novel examination of the influence of a set of conditional factors concerning regional industries, startup culture, ecosystem collaboration and non-financial investor resources on perceived access to startup finance. We conducted a survey of 131 nascent, early-phase or mature startups and founders associated with entrepreneurial ecosystems in rural and urban Norway. The data were analyzed using structural equation modeling. Two main findings are that (1) startups that open up for outside involvement at an earlier phase experience better perceived access to finance and (2) unrelated ventures in homogenous industrial regions find it harder to attract finan…
The role of finance in the literature of entrepreneurial ecosystems
Financial access is considered a crucial element of entrepreneurship. Much of the literature focuses on how individual actors demand or supply finance, but rarely within the context of systemic entrepreneurship. The current entrepreneurial finance literature is fragmented and rooted in various traditions. However, the entrepreneur’s perceived role in aggregated wealth creation is currently being strengthened, most recently by the emerging entrepreneurial ecosystem perspective. This calls for exploring the role of finance in systemic entrepreneurship and entrepreneurial ecosystems. By conducting a systematic literature review of financial determinants, sources and effects, the study synthesi…
Managerial compensation, ownership structure and profitability in Norwegian hydroelectric energy companies : N/A
Masteroppgave i økonomi og administrasjon - Universitetet i Agder 2009 Today, the Norwegian energy sector is significantly dominated by public ownership, both directly and indirectly, and the sector has turned out to be very profitable compared to other sectors. This master thesis starts by introducing some concepts of corporate governance and the agency theory which will be the theoretical basis. The study attempts to determine the relationship between the level of fixed pay and profitability, and ownership structure and profitability of Norwegian hydroelectric energy companies. According to a tremendous amount of research conducted on these relationships in other industries and sectors, t…