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August 9, 2026International Entrepreneurship and Management JournalOpen Access

Industry influences on applying for and obtaining external equity finance - evidence from the greentech sector

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Authors

LMLeonard MeinzingerGLGresa LatifiAHAndrea M. Herrmann

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Overview

Randomized trial shows decreased likelihood of obtaining venture capital in green-tech, indicating industry challenges.

Key Points

  • This research aims to explore how adherence to the green-tech sector affects a venture's ability to secure external equity funding.
  • Utilized a two-stage Heckman-probit model to analyze the probabilities of applying for and obtaining venture capital funding.
  • Examined the relationship between industry adherence and acquisition of venture capital as a two-step process.
  • Focused on green-tech sector ventures to assess their funding challenges.
  • Ventures in the green-tech sector have a higher likelihood of searching for venture capital, but a lower probability of securing funding.
  • Industry adherence negatively impacts the likelihood of obtaining venture capital despite increased efforts to apply.
  • This research highlights the complexities and challenges faced by green-tech ventures during the funding acquisition process.

Cite This Study

Meinzinger et al. (2026) studied this question.

synapsesocial.com/papers/6a782d5f2e1896536c840599https://doi.org/10.1007/s11365-026-01228-3
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