The high technology pecking order in spinoffs and non-spinoffs in the Irish software sector.

Teresa Hogan; Elaine Robyn Hutson

doi:10.1016/S1876-0228(08)06011-0

The high technology pecking order in spinoffs and non-spinoffs in the Irish software sector.

Teresa Hogan, Elaine Robyn Hutson

Banking & Finance

Research output: Chapter in Book/Report/Conference proceeding › Chapter (Book) › Research

2 Citations (Scopus)

Abstract

Despite their increasing importance in innovation, employment creation and economic growth, there is a dearth of theory-driven research on the financing and capital structure of new technology-based firms (NTBFs).1 Hogan and Hutson (2005a) advance the High-Technology Pecking Order Hypothesis (HTPOH) to explain the role of equity in the financing of NTBFs in the software product sector. The HTPOH posits that NTBFs exhibit a hierarchical pattern of financing that gives precedence to internal sources, but if external financing is required, equity is preferred to debt. This study investigates the extent to which the genesis of the NTBF affects its financing patterns?

Original language	English
Title of host publication	New Technology-Based Firms in the New Millennium
Editors	A. Groen, R. Oakey, P. Van de Sijde, G. Cook
Publisher	Emerald Group Publishing Limited
Chapter	11
Pages	163-184
Number of pages	22
Volume	6
Edition	1st
ISBN (Electronic)	9781849505444
ISBN (Print)	9780080554488
DOIs	https://doi.org/10.1016/S1876-0228(08)06011-0
Publication status	Published - 2008

Access to Document

10.1016/S1876-0228(08)06011-0

Cite this

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title = "The high technology pecking order in spinoffs and non-spinoffs in the Irish software sector.",

abstract = "Despite their increasing importance in innovation, employment creation and economic growth, there is a dearth of theory-driven research on the financing and capital structure of new technology-based firms (NTBFs).1 Hogan and Hutson (2005a) advance the High-Technology Pecking Order Hypothesis (HTPOH) to explain the role of equity in the financing of NTBFs in the software product sector. The HTPOH posits that NTBFs exhibit a hierarchical pattern of financing that gives precedence to internal sources, but if external financing is required, equity is preferred to debt. This study investigates the extent to which the genesis of the NTBF affects its financing patterns?",

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The high technology pecking order in spinoffs and non-spinoffs in the Irish software sector. / Hogan, Teresa; Hutson, Elaine Robyn.
New Technology-Based Firms in the New Millennium. ed. / A. Groen; R. Oakey; P. Van de Sijde; G. Cook. Vol. 6 1st. ed. Emerald Group Publishing Limited, 2008. p. 163-184.

Research output: Chapter in Book/Report/Conference proceeding › Chapter (Book) › Research

TY - CHAP

T1 - The high technology pecking order in spinoffs and non-spinoffs in the Irish software sector.

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AU - Hutson, Elaine Robyn

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