Finansieringsalternativ för digitala start-ups : En jämförande studie mellan bankernas och riskkapitalbolagens riskanalysprocess och riskbenägenhet.
Sammanfattning: Abstract The aim of this essay is to make a comparative study between two common forms of financing, namely venture capital and bank loans, with a focus on digital start-ups and its unique problems. A problem lies in the hardship of accurately evaluating intangible assets of start-ups active in the digital sector, therefore leading to a lack of collateral. Another problem associated with digital start-ups is the unavailability or difficulty of raising capital through bank financing. This may, in turn, result in a socioeconomic slowdown. By processing and analysing primary, as well as secondary, data according to a qualitative study with an abductive approach the outcome of the essay indicates that the banks approaches digital start-ups with a neutral view while venture capitalist firms have a positive attitude. Venture capitalist firms tend to focus more on the qualitative aspects of their investment analysis. Their risk profile is significantly higher than the banks. Banks on the other hand focus more on quantitative financial data, such as credit risk and fundamental financial analyses. Banks have a higher risk aversion than venture capitalist firms, mainly due to restrictive regulations such as Basel II.
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