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Foundation evidence of the relationship between entrepreneurs, financial issues and financial advisers Klyver, Kim and Hindle, Kevin 2006, Foundation evidence of the relationship between entrepreneurs, financial issues and financial advisers, in Proceedings of the 11th Finsia-Melbourne Centre for Financial Studies Banking and Finance Conference, 2006, Melbourne Centre for Financial Studies, Melbourne, Vic., pp. 1-24. Title Foundation evidence of the relationship between entrepreneurs, financial issues and financial advisers Author(s) Klyver, Kim Hindle, Kevin Conference name Finsia-Melbourne Centre for Financial Studies Banking and Finance Conference (11th : 2006 : Melbourne, Victoria) Conference location Melbourne, Victoria Conference dates 25-26 Sep. 2006 Title of proceedings Proceedings of the 11th Finsia-Melbourne Centre for Financial Studies Banking and Finance Conference, 2006 Editor(s) [Unknown] Publication date 2006 Conference series Finsia and Melbourne Centre for Financial Studies Banking and Finance Conference Start page 1 End page 24 Publisher Melbourne Centre for Financial Studies Place of publication Melbourne, Vic. Keyword(s) entrepreneurs social networks financial advisers discussion networks financial issues Summary In this study financial advisers’ relative influence on entrepreneurs’ decisions have been investigated. Financial advisers are advisers, included in entrepreneurs’ discussion networks, with whom entrepreneurs discuss financial issues. The concept of financial adviser includes a range of different people with different functions, irrespective of whether these people provide the entrepreneur with finance or not. It may include people such as venture capitalists, business angels, bankers, accountants, advocates or management advisers. Based on follow-up surveys completed in relation to the Danish participation in Global Entrepreneurship Monitor (GEM), it was found that financial advisers only play a minor role in the two early phases of the entrepreneurial process before the venture is actually started. Entrepreneurs might have relationships with financial advisers in these stages, but only few of them are included in the discussion network. It was further revealed that the ties between financial advisers and entrepreneurs often are weaker than the ties entrepreneurs have with others in their discussion network. Two practical implications for financial advisers emerged from the study. First, they need to re-consider their role in the early phases of the entrepreneurial process in order to increase their influence and benefit from the co-operation. Second, they need to find a way to create a closer relationship with the entrepreneurs they advise. Language eng Field of Research 150399 Business and Management not elsewhere classified Socio Economic Objective 910499 Management and Productivity not elsewhere classified HERDC Research category E1.1 Full written paper - refereed Persistent URL http://hdl.handle.net/10536/DRO/DU:30029572 Document type: Conference Paper Collection: School of Management and Marketing   Unless expressly stated otherwise, the copyright for items in DRO is owned by the author, with all rights reserved. Versions Version Filter Type Mon, 16 Aug 2010, 09:22:34 EST Thu, 26 Aug 2010, 15:34:17 EST Thu, 26 Aug 2010, 15:35:32 EST Fri, 16 Mar 2012, 18:12:42 EST Filtered Full Access Statistics: 300 Abstract Views, 1 File Downloads  -  Detailed Statistics Created: Mon, 16 Aug 2010, 09:22:34 EST

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