The Leveraging of Silicon Valley
收藏NBER2020-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w27591
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资源简介：
Early-stage firms utilize venture debt in one-third of financing rounds despite their general lack of cash flow and collateral. In our model, we show how venture debt aligns incentives within a firm. We derive a novel theoretical channel in which runway extension through debt increases firm value
提供机构：
美国国家经济研究局
创建时间：
2020-07-01
