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Prevailing trade theory is a neglected stepchild of economics. Micro rejects the sole reason for trade’s occurrence. It declares zero profit in equilibrium. Monetary theory and macroeconomics dismiss concerns of trade financing. They assert that money has nothing to do with traded output, but...
Persistent link: https://www.econbiz.de/10005408069
We study the effects of investor protection on the availability of external finance, entrepreneurship, and creation of … surplus between entrepreneurs and financiers. The results indicate that anything that increases (decreases) entrepreneurship …
Persistent link: https://www.econbiz.de/10005413115
This paper addresses the choice between different exit routes of venture capitalists for a project yielding a quality-improving product innovation. We explicitly introduce product market characteristics into the analysis with the aim to identify their effects on the optimal exit strategy and on...
Persistent link: https://www.econbiz.de/10005413189
Why do people become part-time entrepreneurs? Are they credit constrained? Previous studies on entrepreneurship do not …
Persistent link: https://www.econbiz.de/10005413242
The belief that equality of demand and supply determines price and clears the market is universal. Shockingly, this belief is unfounded. It contradicts macro’s claim that equality of demand and supply determines output. It contradicts (new) monetary theory, which claims that equality of demand...
Persistent link: https://www.econbiz.de/10005413280
To exploit the economies of scale and scope in multi-product technologies, enterprises in advanced capitalist countries grew in the last 150 years in three directions. By substituting in the place of traditional entrepreneurs professional managers, they developed organisational capabili-ties to...
Persistent link: https://www.econbiz.de/10005413293
We assess the relevance of formal education for the productivity of the self-employed and distinguish between opportunity entrepreneurs, who voluntarily pursue a business opportunity, and necessity entrepreneurs, who lack alternative employment options. We expect differences in the returns to...
Persistent link: https://www.econbiz.de/10011128857
The theoretical concepts about entrepreneurship have changed since the last three decades. It has become one of the … economy (Audretsch and Thurik 2001), it can be seen clearly those shifts which contributed to become entrepreneurship an … continue their economic activity. The entrepreneurship is influenced by those negative and positive factors (for example other …
Persistent link: https://www.econbiz.de/10011132013
In the attached file you can find an extended abstract an the preliminary mathematical apendix of the paper.
Persistent link: https://www.econbiz.de/10011132235
Germany experienced a unique rise in the level of self-employment in the first two decades following unification. Applying the non-linear Blinder-Oaxaca decomposition technique, we find that the main factors driving these changes in the overall level of self-employment are demographic...
Persistent link: https://www.econbiz.de/10011164333