Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/96235
Authors: 
Harjoto, Maretno A.
Paglia, John K.
Year of Publication: 
2011
Citation: 
[Journal:] The Journal of Entrepreneurial Finance (JEF) [ISSN:] 1551-9570 [Volume:] 15 [Year:] 2011 [Issue:] 2 [Pages:] 1-22
Abstract: 
The Pepperdine Private Capital Markets Project survey for business owners, administered during the spring of 2010, reveals an increasingly important role of friends and family (Friends/Family) to provide capital for privately-held businesses. Examining business owners’ perceptions of their sources of capital reveals that, overall, business owners prefer Friends/Family and angel financing as well as asset-based lenders and banks (ABL/Bank). Business owners consider Friends/Family financing to be the least costly. However, business owners also believe venture capital (VC), private equity (PE), and angels provide more benefits than friends/family and ABL/Bank. This study unveils a detailed spectrum of the funding continuum for privately owned firms across different levels of firms’ size, age, and information availability.
Subjects: 
Funding continuum
private capital markets
business owners’ impressions
JEL: 
G10
G20
G24
G31
Document Type: 
Article

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