研究生: |
李品慧 |
---|---|
論文名稱: |
影響新創企業創業者之股權融資行為 與決策的因素為何? The Equity Financing Behaviors And Decisions Of Entrepreneurs |
指導教授: | 陳寶蓮 |
口試委員: |
王瑜琳
李傳楷 陳寶蓮 |
學位類別: |
碩士 Master |
系所名稱: |
科技管理學院 - 科技管理研究所 Institute of Technology Management |
論文出版年: | 2013 |
畢業學年度: | 101 |
論文頁數: | 60 |
中文關鍵詞: | 人格特質 、人生經歷 、信任關係 、態度 、社會網絡 、股權融資決策 |
相關次數: | 點閱:3 下載:0 |
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創業初期,公司的發展過程中,無可避免地會產生外部資金的需求;在缺少抵押品進行債權融資的情形下,往往必須藉由股權融資來獲得外部資金,同時面臨其可能帶來的控制權稀釋問題,猶如兩難的抉擇;因此,本研究以創業者的角度出發,試圖將創業者的創業融資過程與決策考量具體地描繪出來。
本研究選擇曾經或正在面臨首次股權融資決策的新創企業,進行資料的收集;考量到創業者個人的想法有許多難以預測的部分,因而以半結構的方式進行訪談。並就蒐集到的個案資料,從人格特質、人生經歷、信任關係、態度以及社會網絡關係構面進行分析,再進一步跨個案找出一致性,與文獻理論互相對應、討論。最後提出研究者的主張:
一、 創業者的人格特質影響其融資決策的方式
二、 創業者擁有相關的工作經驗,對融資行為將有更開放的態度
三、 創業者對創業投資資金的態度越正面,將越傾向於接受創投資金的挹注
四、 創業者傾向於接受較信任之投資者的融資資金投入
五、 透過信任的中間人介紹,將提高創業者對投資者的信任
六、 創業者與投資者具有背景、經歷的相似性,將提高創業者接受投資者資金投入的可能性
七、 創業者與投資者是否屬於強、弱連結,皆不影響創業者接受融資的決策
八、 創業者擁有較多弱連結的社會網絡關係時,將獲得較多的融資機會
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