operators. Second, a problem of moral hazard is revealed, which is able to appear through the implementation of franchising …

franchising schemes with independent divisions. This is particularly interesting because it can be applied to several industries …

Using Finnish panel data, we study how entrepreneurs differ from workers in education and income dynamics. We find that … workers have higher median income in all educational groups. Without additional controls, entrepreneurs have higher average … income with all but undergraduate level of education. However, random effects and matching models suggest that entrepreneurs …

.e., their prediction ability), and derives an aggregate production function as a result of entrepreneurship. An increase in … affects the total factor productivity (TFP) of an economy, the model can explain how entrepreneurship influences TFP. …

This paper examines a particular aspect of entrepreneurship, namely firms' activities in adapting to idiosyncratic …

Short explanation of Schumpeter's concepts of dynamics, innovations and entrepreneurship. It is argued, that …

surplus between entrepreneurs and financiers. The results indicate that anything that increases (decreases) entrepreneurship …We study the effects of investor protection on the availability of external finance, entrepreneurship, and creation of … frictions, specifically interim and ex post moral hazard problems stemming from entrepreneurs’ possibilities to expropriate …