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The Rationality and Irrationality of Financing Green Start-Ups

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dc.contributor.author Bergset, Linda
dc.date.accessioned 2016-06-13T11:45:20Z
dc.date.available 2016-06-13T11:45:20Z
dc.date.issued 2015-07
dc.identifier.citation Administrative Sciences 2015, 5(4), 260-285 en_US
dc.identifier.issn 2076-3387
dc.identifier.uri http://hdl.handle.net/123456789/792
dc.description doi:10.3390/admsci5040260 en_US
dc.description.abstract Green start-ups contribute towards a transition to a more sustainable economy by developing sustainable and environmentally friendly innovation and bringing it to the market. Due to specific product/service characteristics, entrepreneurial motivation and company strategies that might differ from that of other start-ups, these companies might struggle even more than usual with access to finance in the early stages. This conceptual paper seeks to explain these challenges through the theoretical lenses of entrepreneurial finance and behavioural finance. While entrepreneurial finance theory contributes to a partial understanding of green start-up finance, behavioural finance is able to solve a remaining explanatory deficit produced by entrepreneurial finance theory. Although some behavioural finance theorists are suggesting that the current understanding of economic rationality underlying behavioural finance research is inadequate, most scholars have not yet challenged these assumptions, which constrict a comprehensive and realistic description of the reality of entrepreneurial finance in green start-ups. The aim of the paper is thus, first, to explore the specifics of entrepreneurial finance in green start-ups and, second, to demonstrate the need for a more up-to-date conception of rationality in behavioural finance theory in order to enable realistic empirical research in this field. en_US
dc.language.iso en en_US
dc.publisher MDPI (Multidisciplinary Digital Publishing Institute) en_US
dc.subject green en_US
dc.subject environmental en_US
dc.subject sustainable en_US
dc.subject entrepreneurship en_US
dc.subject start-up en_US
dc.subject entrepreneurial finance en_US
dc.subject behavioural/behavioral finance en_US
dc.subject rationality en_US
dc.subject venture capital en_US
dc.subject business angels en_US
dc.title The Rationality and Irrationality of Financing Green Start-Ups en_US
dc.type Article en_US


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