主 题：Family Involvement and New Venture Debt Financing
报告人：蔡济铭（Jess H. Chua）教授，加拿大卡尔加里大学Haskayne商学院
主持人：姚铮教授，体育外围平台APP会计与财务管理系
时 间：9月23日（周五）15:00-17:00
地 点：紫金港校区行政大楼702会议室
内容简介：New ventures often require debt financing but face difficulties convincing lenders of their creditworthiness because of agency problems. Researchers have shown that social capital can help small firms reduce lenders’ agency concerns. But new ventures do not yet have their own social capital and the entrepreneur may have insufficient social capital; so the new venture has to borrow the needed social capital. The borrowing of social capital causes another agency problem because the social capital may also be misused. We propose that family involvement increases a venture’s ability to borrow family social capital for the purpose of obtaining debt financing. Empirical tests with 1,267 new ventures suggest that family involvement directly and indirectly improves a new venture’s access to debt financing.
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会计与财务管理系
2011年9月16日
