How does debt financing influence a Start-up's ability to raise equity financing?

This study aims to investigate the impact of debt financing on a start-up's capacity to attract equity investment later. Analyzing a comprehensive dataset of 43,013 start- ups, the research examines debt's dual role as a signal of financial stability, and as a deterrent due to financial di...

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Detalles Bibliográficos
Autor: Subirós Sagnier, Pia
Tipo de recurso: tesis de maestría
Fecha de publicación:2024
País:España
Institución:Universitat Politècnica de Catalunya (UPC)
Repositorio:UPCommons. Portal del coneixement obert de la UPC
Idioma:inglés
OAI Identifier:oai:upcommons.upc.edu:2117/421817
Acceso en línea:https://hdl.handle.net/2117/421817
Access Level:acceso abierto
Palabra clave:New business enterprises
Entrepreneurship
Empreses--Creació
Emprenedoria
Àrees temàtiques de la UPC::Economia i organització d'empreses
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spelling How does debt financing influence a Start-up's ability to raise equity financing?Subirós Sagnier, PiaNew business enterprisesEntrepreneurshipEmpreses--CreacióEmprenedoriaÀrees temàtiques de la UPC::Economia i organització d'empresesThis study aims to investigate the impact of debt financing on a start-up's capacity to attract equity investment later. Analyzing a comprehensive dataset of 43,013 start- ups, the research examines debt's dual role as a signal of financial stability, and as a deterrent due to financial distress risks. Employing three regression models to control for various factors, the findings reveal that previous debt significantly deters equity investment, supporting the debt overhang theory. These results are consistent across different models, underscoring the importance of understanding debt dynamics in start-up funding strategies. This research contributes to the literature by providing detailed empirical evidence on the interplay between debt and equity financing in start-ups, offering valuable insights for entrepreneurs and investors.OutgoingUniversitat Politècnica de CatalunyaPérez González, Juan Jesús20242024-09-0120252025-01-14master thesishttp://purl.org/coar/resource_type/c_bdccNAhttp://purl.org/coar/version/c_be7fb7dd8ff6fe43info:eu-repo/semantics/masterThesisapplication/pdfhttps://hdl.handle.net/2117/421817reponame:UPCommons. Portal del coneixement obert de la UPCinstname:Universitat Politècnica de Catalunya (UPC)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2info:eu-repo/semantics/openAccessoai:upcommons.upc.edu:2117/4218172026-05-27T15:37:01Z
dc.title.none.fl_str_mv How does debt financing influence a Start-up's ability to raise equity financing?
title How does debt financing influence a Start-up's ability to raise equity financing?
spellingShingle How does debt financing influence a Start-up's ability to raise equity financing?
Subirós Sagnier, Pia
New business enterprises
Entrepreneurship
Empreses--Creació
Emprenedoria
Àrees temàtiques de la UPC::Economia i organització d'empreses
title_short How does debt financing influence a Start-up's ability to raise equity financing?
title_full How does debt financing influence a Start-up's ability to raise equity financing?
title_fullStr How does debt financing influence a Start-up's ability to raise equity financing?
title_full_unstemmed How does debt financing influence a Start-up's ability to raise equity financing?
title_sort How does debt financing influence a Start-up's ability to raise equity financing?
dc.creator.none.fl_str_mv Subirós Sagnier, Pia
author Subirós Sagnier, Pia
author_facet Subirós Sagnier, Pia
author_role author
dc.contributor.none.fl_str_mv Pérez González, Juan Jesús
dc.subject.none.fl_str_mv New business enterprises
Entrepreneurship
Empreses--Creació
Emprenedoria
Àrees temàtiques de la UPC::Economia i organització d'empreses
topic New business enterprises
Entrepreneurship
Empreses--Creació
Emprenedoria
Àrees temàtiques de la UPC::Economia i organització d'empreses
description This study aims to investigate the impact of debt financing on a start-up's capacity to attract equity investment later. Analyzing a comprehensive dataset of 43,013 start- ups, the research examines debt's dual role as a signal of financial stability, and as a deterrent due to financial distress risks. Employing three regression models to control for various factors, the findings reveal that previous debt significantly deters equity investment, supporting the debt overhang theory. These results are consistent across different models, underscoring the importance of understanding debt dynamics in start-up funding strategies. This research contributes to the literature by providing detailed empirical evidence on the interplay between debt and equity financing in start-ups, offering valuable insights for entrepreneurs and investors.
publishDate 2024
dc.date.none.fl_str_mv 2024
2024-09-01
2025
2025-01-14
dc.type.none.fl_str_mv master thesis
http://purl.org/coar/resource_type/c_bdcc
NA
http://purl.org/coar/version/c_be7fb7dd8ff6fe43
dc.type.openaire.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
dc.identifier.none.fl_str_mv https://hdl.handle.net/2117/421817
url https://hdl.handle.net/2117/421817
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universitat Politècnica de Catalunya
publisher.none.fl_str_mv Universitat Politècnica de Catalunya
dc.source.none.fl_str_mv reponame:UPCommons. Portal del coneixement obert de la UPC
instname:Universitat Politècnica de Catalunya (UPC)
instname_str Universitat Politècnica de Catalunya (UPC)
reponame_str UPCommons. Portal del coneixement obert de la UPC
collection UPCommons. Portal del coneixement obert de la UPC
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,81155

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