70 likes | 191 Vues
Who, how and why financing the start-ups? Research Concept. Alyona Albutova Artyom Gudov Nikita Kiselev Elena Konobeeva Ekaterina Murzacheva. March, Moscow, 2011. Actuality of investigation. That’s why it’s important to know:
E N D
Who, how and why financing the start-ups?Research Concept Alyona Albutova Artyom Gudov Nikita Kiselev Elena Konobeeva Ekaterina Murzacheva March, Moscow, 2011
Actuality of investigation • That’s why it’s important to know: • What are the expectations of early entrepreneurs about financial aspect? • What is the influence of the adverse social and economic conditions on their intentions? • Who is ready to support small-scale businesses materially and under what terms?
Our aim and tasks Objective: to investigate the influence of global economic slowdown on the structure, nature, and motivation of investments in the early entrepreneurship area for two patterns of the economies: developed one (the Netherlands) and developing one (Russia) Tasks: • To define the characteristics of the demand for financial funds among early entrepreneurs in Russia and the Netherlands depending on the time period (2006-2007 – period before crisis; 2008 –crisis; 2009 – after crisis); • To explore the informal investment activity and its motivation during the distinguished time periods; • To find out business areas which have especial attractiveness for informal investments.
Our hypotheses H1: The deficit for financial resources is higher in Russia than in the Netherlands (the demand side). It is a pro-cyclical characteristic; H2: The lack of financial funds can be compensated by informal investments in Russia (due to the immature financial system) and mitigated by government initiatives in the Netherlands (due to the societal orientation of the economy); H3: Immaterial low value-added services are the most attractive business area for informal investments in Russia in opposite to high-tech activities in the Netherlands
Why? or the main factors that influence the investment process