search query: @indexterm Strategic management / total: 1889
reference: 174 / 1889
| Author: | Huyghebaert, N. Gucht, L. M. van de |
| Title: | Incumbent strategic behavior in financial markets and the exit of entrepreneurial start-ups |
| Journal: | Strategic Management Journal
2004 : JUL, VOL. 25:7, p. 669-688 |
| Index terms: | Strategic management Entrepreneurship Financial markets |
| Language: | eng |
| Abstract: | The authors find that entrepreneurial start-ups in highly competitive industries are more likely to exit and the leverage compounds this exit risk. However, the latter result only holds when potential adverse selection and moral hazard problems in financial markets are large at start-up. Under these circumstances, competitors can negatively influence creditors' perceptions on entrepreneurial quality or behaviour through aggressive strategic actions to implede future financing and induce the start-up's exit. |
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