endogenous share opts for innovation and faces credit constraints in the subsequent expansion phase. We emphasize four results …: (i) R&D subsidies not only encourage innovation but also relax finance constraints and help innovative firms to exploit … investment of constrained firms by reducing free cash-flow and thereby discourage innovation. (iii) A revenue neutral increase in …

Stimulating entrepreneurship is high on the policy agenda of many countries. We study the effects of tax policies on … entrepreneurs’ choice of riskiness (quality) of an innovation project, and on their mode of commercializing the innovation (market …

We develop entrepreneurship and institutional theory to explain variation in different types of entrepreneurship across … grow faster. We test these hypotheses using the Global Entrepreneurship Monitor surveys in 55 countries for 2001 …

an entrepreneurial sector, the Paper investigates the effects of taxes on the equilibrium level of entrepreneurship and …

capital-backed entrepreneurship. We also argue that dividend and capital gains taxes on mature firms have important …

regard to the capital gains tax, innovation subsidy, public R&D spending and other policy initiatives. …

paper, we analyze a two-stage innovation game between one incumbent and a large number of entrants. In the first stage … innovation. In the second stage, successful entrants bid to be acquired by the incumbent. We assume that entrants cannot survive …&D approaches than the incumbent and are more likely to generate the highest value innovation. Thus, the need of entrants to be …

innovation to the financiers through patenting and prototyping activities, right in the early stages of the venture. We build a …