… Also, firstly, being motivated solely by gained revenues, with time, the importance of internal
funding by gross profit grows significantly and even becomes more important than revenue. …

… expect R & D expenditures to increase with the flow of internally generated funds (internal
cash … from its own funds (R & D as we have defined it) must match public funds dollar for dollar. …

… entrepreneur’s preference for internal or external sources of … or non-availability of internal
funds. A major challenge in … firm liquidity, availability of internal funds for debt repayment and …

… paper is the analysis of how internal determinants affect the firms’ … The availability of internal
funds can allow greater risk of … In the same way, the availability of internal funds can make it …

… Hence, hedge fund managers voluntarily implement internal … that internal controls are
stronger in funds with higher potential agency costs. Further, internal controls are stronger in funds …

… finance is more costly than internal finance due to asymmetric … increase in the supply of
internal funds results in a higher … While we explore the determinants of self-reported financing …

… We show, however, that the negative effect of internal funds … , external financing is insensitive
to internal funds. These cross-… greater complementarity between internal funds and external …

… between R&D investment and internal finance. Our results … the flow of internal finance is
the principal determinant of the … internally from a firm's current profits and accumulated funds." …

… theory assumes that managers favor internal funding over external funding because internal
… in this study such as the low adjusted r square value, limited proxies used to measure the …

… of venture capital funding has been high in many countries, but funding levels still vary
significantly (see Table 1). In this paper, our goal is to understand the determinants of growth in …