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- Berggren, Björn, 1972-, et al.
(författare)
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Affärer mellan kunder och bank- och finansföretag
- 2006. - 1
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Ingår i: Utveckling av kundrelationer i bank- och finansmarknader. - : Studentlitteratur. ; , s. 13-16
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Bokkapitel (övrigt vetenskapligt/konstnärligt)
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| 4. |
- Berggren, Björn, 1972-, et al.
(författare)
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Control aversion and the search for external financing in Swedish SMEs
- 2000
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Ingår i: Small Business Economics. - 0921-898X .- 1573-0913. ; 15:3, s. 233-242
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Tidskriftsartikel (refereegranskat)abstract
- The discussion on growth (see Storey, 1997) and control aversion (Cressy, 1995; Chittenden et al., 1996; Cressy and Olofsson, 1996) in small and medium sized firms has been attracting an increasing amount of attention. Our purpose in this article is to identify under what circumstances small and medium sized firms are prepared to accept outside control in the business firm in order to grow. In the article it is argued that technology development, financial strength, size and perceived need to grow, change firms attitudes towards external financiers. The change in attitude towards more openness eventually leads to an actual behaviour where the principals choose to apply for external finance in the form of bank loans. A linear structural equation modelling program, LISREL, is used to analyse a sample of 281 Swedish firms. The firms all have less than 200 employees, and the sample includes both manufacturing and service firms.
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| 7. |
- Berggren, Björn, et al.
(författare)
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Do too many cooks spoil the broth? : The effect of syndication on the performance of venture capitalists' portfolio firms in Sweden
- 2006
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Ingår i: AGSE 2006. - : Swinburne University of Technology. ; , s. 778-779
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Konferensbidrag (refereegranskat)abstract
- The literature surrounding venture capital firms' relations to their portfolio firms is vast, but tend to focus primarily on the relationship between venture capitalists and entrepreneurs from the venture capitalists' perspective. Many studies focus on how the venture capitalists need to control their investment. It is often implied that venture capitalists are beneficial to the firms in which they invest. In several studies it has been suggested that venture capitalist add value to their portfolio firms by providing capital as well as competence in form of advice and improved routines to the portfolio firm. Many researchers seem to assume that venture capital firms' advices to portfolio firms are always relevant and useful. Governments and government agencies also tend to unconditionally support the venture capital industry as being crucial providers of venture creation. As Sweden has targeted science-related ventures as being of prime importance to the growth of the Swedish economy, venture capital provision has been placed in the forefront of likely contributors to venture growth in that particular field. Not all entrepreneurs seem equally impressed by contributions made by venture capitalists. Case research provides evidence of venture capitalists having a short term focus, lack of patience with investments and above all, being unable to provide adequate support in terms of contributions aimed at enhancing ventures abilities to market their products. According to these studies there seems to be indications that venture capital may not be as beneficial to venture growth as has been previously reported.
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| 8. |
- Berggren, Björn, et al.
(författare)
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Effect of syndication on the performance of venture capitalists portfolio firms: The Swedish case
- 2010
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Ingår i: Journal of International Finance and Economics. - 1555-6336 .- 2378-864X. ; 10:1
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Tidskriftsartikel (refereegranskat)abstract
- In this paper, we have analyzed the performance of 154 investments made by Swedish and international venture capital firms in Sweden. The purpose of this paper was to investigate whether the syndicated investments outperformed the non-syndicated investments in terms of growth and survival. The results show that the syndicated investments targeted different industries, primarily biotechnology and information and communications technology (ICT). The non-syndicated investments were to a larger extent made in mature firms in low-tech industries, such as traditional manufacturing and retail. Furthermore, the survival rate among the syndicated investments was significantly lower than the non-syndicated investments. This difference in survival rate is partly dependent upon the greater risk associated with investments in younger firms in rapidly growing industries. The managerial implication is that syndication is the means by which venture capital invests during the early stages of knowledge-based firms, thus making syndication between venture capitalists of primary concern for policy-making purposes.
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| 10. |
- Berggren, Björn, 1972-, et al.
(författare)
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Financing entrepreneurship in different regions: The failure to decentralise financing to regional centres in Sweden
- 2010
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Ingår i: Journal of Small Business and Enterprise Development. - : Emerald. - 1462-6004 .- 1758-7840. ; 17:2, s. 230-246
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: The purpose of the paper is to analyse the financial search behaviour of small and medium-sized enterprises (SMEs) in different regions and the perceived importance of different external financiers for these firms. Design/methodology/approach: A postal survey targeting the chief executive officers (CEOs) of 459 SMEs was distributed indifferent regions of Sweden. Findings: Large differences exist in the financial search behaviour exhibited by firms in the four different types of regions. In the metropolitan areas, firms are more active in searching for new owners, especially professional investors. In smaller municipalities, banks dominate as the most important financier. Research limitations/implications: The study might not be generalised for other settings because it was carried out in Sweden. Furthermore, the regional types used might cause some concern as to whether the findings can be generalised. Practical implications: Thestudy provides evidence that policies need to be tailor-made for different regionsbecause the predominant type of financier differs greatly between regions. The findings also emphasise the need for policymakers to focus on equity gap issues in regionalcentres. Originality/value: The paper fulfils an important role in elaborating on the use and importance of different types of financing in various regions.
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