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[This article uses data from the Kauffman Firm Survey to explore the financing sources and strategies of new technology-based firms. Findings reveal that technology-based firms, and particularly high tech firms, raise larger amounts of capital at startup than firms on average. These findings also suggest that, contrary to the Pecking Order and Life Cycle theories, owners of high tech firms are both willing and able to use external equity as a financing source.]
Published: Nov 10, 2010
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