Capital structure in start-up firms in the conditions of the Czech economy
2014
Chmelikova, G., Mendel University, Brno (Czech Republic). Dept. of Regional and Business Economics | Somerlikova, K., Mendel University, Brno (Czech Republic). Dept. of Demography and Applied Statistics
The aim of this article is to characterise the form of capital structures in start-up companies in the Czech economy and to identify what determines them. The choice of theme for this research was motivated by the important role that start-up companies have played in the development of economies especially in its contribution to employment, while having a low empirical understanding of the structure of capital resources of the firms. In this contribution, we have managed to identify the average form of the capital structures of start-up companies in the Czech economy. Moreover, they were in keeping with the Trade-Off Theory of Capital Structure testing the factors determining the composition of the capital resources of the firms. However it was only possible to empirically support the conclusions in part.
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