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Perotti, Enrico C; Volpin, Paolo - C.E.P.R. Discussion Papers - 2004

entry and financial development. Incumbents seek a low level of effective investor protection to prevent potential entrants … higher rents earned with less competition. Entry and investor protection improve when wealth distribution becomes less … countries we find that greater accountability is associated with higher entry in sectors that are more dependent on external …

Persistent link: https://www.econbiz.de/10005662100

Do Entrepreneurs Matter?

Becker, Sascha O.; Hvide, Hans K. - CESifo - 2013

In the large literature on firm performance, economists have given little attention to entrepreneurs. We use deaths of more than 500 entrepreneurs as a source of exogenous variation, and ask whether this variation can explain shifts in firm performance. Using longitudinal data, we find large and...

Persistent link: https://www.econbiz.de/10010607007

Does the New Economy Need New Governance? Ownership, Knowledge and Performance

Audretsch, David B; Lehmann, Erik - C.E.P.R. Discussion Papers - 2002

We study the implications of ownership and its induced incentives on firm performance in the ‘New Economy’. Instead of traditional performance we use firm survival on the stock market as the performance indicator. Using a unique data set of all 341 firms listed on the Neuer Markt, the German...

Persistent link: https://www.econbiz.de/10005504269

Business Decision-Making under Uncertainty: Evidence from Employment and Number of Businesses

Ghosal, Vivek; Ye, Yang - CESifo - 2013

Using the framework provided by the asymmetric-information and real-options theories, we examine the impact of uncertainty on firms’ decisions and market outcomes. We construct alternative measures of uncertainty based on survey of professional forecasters and our estimation of...

Persistent link: https://www.econbiz.de/10010674454

Do entrepreneurs matter?

Becker, Sascha O.; Hvide, Hans K - C.E.P.R. Discussion Papers - 2013

Persistent link: https://www.econbiz.de/10011083991

Market Size, Entrepreneurship, and Income Inequality

Behrens, Kristian; Pokrovsky, Dmitry; Zhelobodko, Evgeny - C.E.P.R. Discussion Papers - 2014

We develop a monopolistic competition model with two sectors and heterogeneous agents who self-select into entrepreneurship, depending on entrepreneurial ability. The effect of market size on the equilibrium share of entrepreneurs crucially hinges on properties of the lower-tier utility function...

Persistent link: https://www.econbiz.de/10011084591

Impeded Industrial Restructuring: The Growth Penalty

Audretsch, D.B.; Carree, M.A.; Stel, A.J. van; Thurik, A.R. - Tinbergen Instituut - 2000

This paper documents that a process of industrial restructuring has been transforming the developed economies, where large corporations are accounting for less economic activity and small firms are accounting for a greatershare of economic activity. Not all countries, however, are experiencing...

Persistent link: https://www.econbiz.de/10011256821

Does Entrepreneurship reduce Unemployment?

Audretsch, D.B.; Carree, M.A.; Thurik, A.R. - Tinbergen Instituut - 2001

In this paper, we develop two hypotheses: First, regional innovation efforts have a positive impact on regional knowledge based entrepreneurial activity. Second, knowledge based entrepreneurship positively affects regional economic performance. We test these hypotheses using county level data...

Persistent link: https://www.econbiz.de/10011257436

Uncertainty and the Employment Dynamics of Small and Large Businesses

Ghosal, Vivek; Ye, Yang - CESifo - 2014

We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based on the survey of professional forecasters, and regression-based forecasting models for GDP growth, inflation, S&P500 stock price index, and fuel prices. Our results indicate...

Persistent link: https://www.econbiz.de/10010960647