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We estimate the effect of college education on business survival using the NLSY79. The endogeneity of both education and business ownership is accounted for by a competing risks duration model augmented with a college selection equation. Contrary to the previous literature, we fi nd no effect of...
Persistent link: https://www.econbiz.de/10010504519
Venture capital has become a dominant form of innovation finance, used by many high-tech startups. Europe lags the U …
Persistent link: https://www.econbiz.de/10011917044
-impact Schumpeterian entrepreneurship relative to the U.S. Once we account for Europe's strong performance in technological innovation, an …
Persistent link: https://www.econbiz.de/10011917046
One response to uncertainty and transactions costs in VC-finance is to compensate founders (and other key personnel) with stock options under complex contracts. Entrepreneurs are granted stock options contingent on firm performance, vesting and other criteria. While most countries tax stock...
Persistent link: https://www.econbiz.de/10011442493
contrarian, whereas public policy has a bias toward incremental innovation and replication of past success. If central planners … knew what the next radical innovation would be, there would be no need for Schumpeterian entrepreneurs. Schumpeterian … are too complex to design, and central planning instead reduces the space for organic institutional innovation. …
Persistent link: https://www.econbiz.de/10012615463
Innovation often takes place in entrepreneurial ecosystems. We use the history of the Silicon Valley venture capital …
Persistent link: https://www.econbiz.de/10012703461
strong performance in technological innovation. …
Persistent link: https://www.econbiz.de/10010504474
entrepreneurial effort, entrepre-neurial innovation and capital investment. Because of these constraints, the entrepreneurial project …
Persistent link: https://www.econbiz.de/10010320176
Previous research, notably Baumol (1990), has highlighted the role of insti-tutions in channeling entrepreneurial supply into productive, unproductive or destructive activities. However, entrepreneurship is not only influenced by institutions - entrepreneurs often help shape institutions...
Persistent link: https://www.econbiz.de/10010320255
-2010 period. To our knowledge this is the first systematic cross-country study of billionaire entrepreneurs, an economically …
Persistent link: https://www.econbiz.de/10010320283