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We examine how executives' behavior outside the workplace, as measured by their ownership of luxury goods (low "frugality") and prior legal infractions, is related to financial reporting risk. We predict and find that CEOs and CFOs with a legal record are more likely to perpetrate fraud. In...
Persistent link: https://www.econbiz.de/10012460658
Across many sectors, research has established that management explains a notable portion of productivity differences across organizations. A remaining question, however, is whether it is managers themselves or firm-wide management practices that matter. We shed light on this question by...
Persistent link: https://www.econbiz.de/10014250209
This paper examines how government funding programs geared towards early-stage companies interact with private capital markets. Using hand-collected data on 755 government programs worldwide, we find that governments' allocations to such funding programs have been comparable to global venture...
Persistent link: https://www.econbiz.de/10012510623
In this paper we explore whether or not the experience as a founder of a venture capital-backed startup influences the performance of founders who become venture capitalists (VCs). We find that nearly 7% of VCs were previously founders of a venture-backed startup. Having a successful exit and...
Persistent link: https://www.econbiz.de/10013191001
We estimate differences in innovation behavior between foreign versus U.S.-born entrepreneurs in high-tech industries. Our data come from the Annual Survey of Entrepreneurs, a random sample of firms with detailed information on owner characteristics and innovation activities. We find uniformly...
Persistent link: https://www.econbiz.de/10012479519
This paper estimates the effect of relaxing the social insurance mandate on entrepreneurial activity. We use a unique discontinuity in Finland that allows certain entrepreneurs not to pay social insurance contributions on their income. Using rich administrative data, we find that relaxing the...
Persistent link: https://www.econbiz.de/10012479602
segregate into low-return industries and avoid entrepreneurship altogether. In this paper, we present a model of female … entrepreneurship and rule of law that predicts that women will only start businesses when they have both formal legal protection and …
Persistent link: https://www.econbiz.de/10012480311
components to entrepreneurship - "opportunity" and "necessity" - the latter of which is mostly counter-cyclical. Although there … is some agreement on the conceptual distinction between these two factors driving entrepreneurship, there is little … opportunity versus necessity entrepreneurship based on the entrepreneur's prior work status (i.e. based on previous unemployment …
Persistent link: https://www.econbiz.de/10012480322
. Such frictions can help explain part of the gender gap in entrepreneurship, and also have implications for how to design …
Persistent link: https://www.econbiz.de/10012480392
The US economy has undergone a number of puzzling changes in recent decades. Large firms now account for a greater share of economic activity, new firms are being created at a slower rate, and workers are getting paid a smaller share of GDP. This paper shows that changes in population growth...
Persistent link: https://www.econbiz.de/10012481030