DC FieldValueLanguage
dc.contributor.authorRizomyliotis, Ioannis-
dc.contributor.authorKvasova, Olga-
dc.contributor.authorSalvi, Antonio-
dc.contributor.authorGiakoumelou, Anastasia-
dc.date.accessioned2024-03-27T11:02:24Z-
dc.date.available2024-03-27T11:02:24Z-
dc.date.issued2023-05-26-
dc.identifierscopus-85160089559-
dc.identifier.issn1355-2554-
dc.identifier.other85160089559-
dc.identifier.urihttps://uniwacris.uniwa.gr/handle/3000/1621-
dc.description.abstractPurpose: Access to financing is a key success factor for start-ups. High failure rates, long payback periodse and asymmetries lead to conservative pricing and valuation discounts. The authors examine financial marketing and contingent factors, as enablers of a “patent premium” by private equity (PE) investors targeting start-ups in their growth and expansion stages. Design/methodology/approach: Drawing from the contingency, innovation and signaling theories, the authors collect patent records for Italian start-ups in which a higher than 30% stake was acquired by PE investors during the period 2014–2020. The authors apply a generalized linear model with a logit link and robust clustered error to test the key relationships and control for endogeneity with a Heckman two-stage selection model. Findings: Findings indicate start-ups’ access to financing is significantly impacted by marketing constructs adopted in the operation. Innovation alone does not suffice to determine a valuation premium, unless contingent on the promotion of its product, the placement -investors targeted-of the equity, brand equity levers of previous ownership and marketing competence backing the deal. Originality/value: The authors provide new insights in the marketing-finance interface, highlighting levers that reassure investors and enable monetizing innovation in start-ups that are still privately held. The authors bridge a gap in literature that has mainly focused on venture capital and innovation financing in the open market, as well as a significant gap regarding the marketing design of private equity placements.en_US
dc.language.isoenen_US
dc.relation.ispartofInternational Journal of Entrepreneurial Behaviour and Researchen_US
dc.subjectBusiness developmenten_US
dc.subjectFinancingen_US
dc.subjectInnovationen_US
dc.subjectStart-upsen_US
dc.titleThe start-up's roadmap to private equity financing: substituting discounts with a premium in valuation for growthen_US
dc.typeArticleen_US
dc.identifier.doi10.1108/IJEBR-02-2022-0197en_US
dc.identifier.scopus2-s2.0-85160089559-
dcterms.accessRights0en_US
dc.relation.deptDepartment of Business Administrationen_US
dc.relation.facultySchool of Administrative, Economics and Social Sciencesen_US
dc.collaborationUniversity of West Attica (UNIWA)en_US
dc.journalsSubscriptionen_US
dc.publicationPeer Revieweden_US
dc.countryGreeceen_US
local.metadatastatusverifieden_US
item.fulltextNo Fulltext-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.cerifentitytypePublications-
item.openairetypeArticle-
item.languageiso639-1en-
item.grantfulltextnone-
crisitem.author.deptDepartment of Business Administration-
crisitem.author.facultySchool of Administrative, Economics and Social Sciences-
crisitem.author.orcid0000-0002-3516-0050-
crisitem.author.parentorgSchool of Administrative, Economics and Social Sciences-
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