Showing 1 - 10 of 11
The paper argues that cost of capital comparisons across closely held companies and entrepreneurial ventures on the one hand and widely held companies on the other, ought not to be based on an equal level assumption regarding the investors’ required rates of return, net of taxes. Theoretical...
Persistent link: https://www.econbiz.de/10005645311
In this paper entrepreneurs are defined as agents who bring about economic change by combining their own effort with other factors of production in search of economic rents. The institutional setup is argued to determine both the supply and direction of entrepreneurial activity. Four key...
Persistent link: https://www.econbiz.de/10005645286
In this introductory chapter to a collective volume dealing with the political economy of entrepreneurship,* we argue, based on a suggested unifying framework, that political economy is a fruitful approach to entrepreneurship. The importance of institutions in structuring such an analysis is...
Persistent link: https://www.econbiz.de/10005645310
High-growth firms (HGFs) are critical for net job creation and economic growth. We analyze HGFs using the theory of competence blocs, linking firm growth to property rights and the interaction of complementary expertise. Specifically, we discuss how the institutional framework affects the...
Persistent link: https://www.econbiz.de/10005645380
We outline a politico-economic growth system centered around the entrepreneur. By defining entrepreneurs in relation to economic rents we are able to develop a more general theory comprising central aspects of research within the fields of entrepreneurship/small business, public choice and new...
Persistent link: https://www.econbiz.de/10005645430
In 2007, the Swedish employer-paid payroll tax was cut on a large scale for young workers, substantially reducing labor costs for this group. Using Difference-in-Differences paired with exact matching, we estimate a small impact, both on employment and on wages, implying a labor demand...
Persistent link: https://www.econbiz.de/10010818413
In response to high and enduring youth unemployment, large payroll tax cuts for young workers were implemented in two Swedish reforms in 2007 and 2009. This paper analyses the effects of the reforms on worker outcomes and firm performance in the retail industry, an important employer of young...
Persistent link: https://www.econbiz.de/10010818432
Public policy affects the prevalence and performance of both productive and high-impact entrepreneurship. High-impact entrepreneurship prospers when knowledge is successfully generated and exploited in the economy. This process depends on complementary key ac-tors who use their competencies in...
Persistent link: https://www.econbiz.de/10008605950
In this introductory chapter to a collective volume,* we build on Baumol’s (1990) framework to categorize, catalog, and classify the budding research field that explores the interplay between institutions and entrepreneurship. Institutions channel entrepreneurial supply into productive or...
Persistent link: https://www.econbiz.de/10008794457
Commentators on the private equity industry often claim that favorable tax treatment gives private equity firms advantages in the market for corporate control. But we show that tax advantages do not affect the equilibrium ownership of corporate assets when acquisition costs are fully deductible...
Persistent link: https://www.econbiz.de/10008599462