It remains a question whether serial entrepreneurs typically perform better than their novice counterparts owing to learning by doing e¤ects or mostly because they are a selected sample of higher-than-average ability entrepreneurs. This paper tries to unravel these two effects by exploring a...

In this paper I test two intuitions. First, that small private firms have incentives to undertake earnings management. Second, that firms’ financing needs are one of such incentives, constraining the sense of the income manipulation. The tax incentive is deemed to motivate firms into adopting...