is not markedly different than elsewhere. In line with previous studies, spinoffs of incumbents perform better than other … growth of spinoffs is greater the larger the size of their parent, which contrast sharply with findings for firms with a …

growth. In this paper we study the effects of tax and subsidy policies on entrepreneurs’ choice of riskiness of an innovation … tax system induce entrepreneurs to choose projects with too little risk and this problem arises primarily when … entrepreneurs market their product themselves. When innovations reduce only the fixed costs of production this leads to a …

institutions—entrepreneurs often help shape institutions themselves. The bilateral causal relation between entrepreneurs and … institutions is examined in this paper. Entrepreneurs affect institutions in at least three ways. Entrepreneurship abiding by … existing institutions is occasionally disruptive enough to challenge the foundations of prevailing institutions. Entrepreneurs …

In this paper entrepreneurs are defined as agents who bring about economic change by combining their own effort with …

Recent research has highlighted the role of institutions in channeling entrepreneurs into activities with positive or … reveals the bilateral causal relation between entrepreneurs and institutions. Core features of the entrepreneur force us to … channels of influence are isolated, analyzed and exemplified. Entrepreneurs influence formal economic institutions through …