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7154126 
Journal Article 
FACTORS INFLUENCING FUND RAISING: AN EMPIRICAL STUDY ON ITALIAN STARTUPS 
Talaia, M; Pisoni, A; Onetti, A; , 
2013 
EUROMED PRESS 
MARSEILLE CEDEX 9 
2253-2270 
WOS:000338727100133 
This paper aims at identifying the factors that influence fund raising in new ventures. We analyzed a sample of 108 Italian startups. The research is aimed at identifying the characteristics of the entrepreneurial team that have a bigger influence on equity acquisition. We focused the research on the lead person in the founders' team (we identified with the person who assumes the CEO position) and we carried out a Tobit regression to test hypotheses developed on a list of variables extracted from the literature analysis. The analysis shows a significant relationship between the ability of a startup in fund raising and the level of education of the CEO. This causal relation is even stronger if the CEO has a managerial education acquired through an MBA. Moreover, previous work experience seems not to have a key role in fund raising, while company's size and legal form may affect it. Future research lines conclude the paper. 
Vrontis, D; Weber, Y; Tsoukatos, E; 
6th Annual EuroMed Conference of the EuroMed-Academy-of-Business 
Cascais, PORTUGAL