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In the economic environment firms born and die. The development of start-ups is essential for the growth of the whole economy. The present book analyses the role of financial and legal local systems on new firms´ access to external sources of finance and their consequential capacity to get growth opportunities. The findings evidence the importance of local financial development for start-ups´ capital structure decisions, providing a useful advice in order to improve financial institutions.

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FRANCESCO FASANO is research assistant in Management and Finance at the University of Calabria (Italy). MAURIZIO LA ROCCA is Associate Professor in Business Economics and Management at the University of Calabria (Italy). His main research interests and scientific publications concern capital structure, cash holding and corporate governance.

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