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What Does the Corporate Income Tax Tax? A Simple Model without Capital

Kotlikoff, Laurence J. - 2010

their assets. In discouraging incorporation, the corporate tax taxes business risk-sharing, keeping more entrepreneurs … others. This represents a second channel through which the corporate tax induces excessive business …

Persistent link: https://www.econbiz.de/10012462458

Age and High-Growth Entrepreneurship

Azoulay, Pierre - 2018

Many observers, and many investors, believe that young people are especially likely to produce the most successful new firms. We use administrative data at the U.S. Census Bureau to study the ages of founders of growth-oriented start-ups in the past decade. Our primary finding is that successful...

Persistent link: https://www.econbiz.de/10012453226

Lack of Selection and Limits to Delegation : Firm Dynamics in Developing Countries

Akcigit, Ufuk - 2016

Managerial delegation is essential for firm growth. While firms in poor countries often shun outside managers and instead recruit among family members, the pattern is quite the opposite for firms in rich countries. In this paper, we ask whether these differences in managerial delegation have...

Persistent link: https://www.econbiz.de/10012456767

Income Inequality and Asset Prices under Redistributive Taxation

Pastor, Lubos - 2015

Our simple model features agents heterogeneous in skill and risk aversion, incomplete financial markets, and redistributive taxation. In equilibrium, agents become entrepreneurs if their skill is sufficiently high or risk aversion sufficiently low. Under heavier taxation, entrepreneurs are more...

Persistent link: https://www.econbiz.de/10012457001

Dynastic Entrepreneurship, Entry, and Non-Compete Enforcement

Rauch, James - 2015

We investigate entry in a dynastic entrepreneurship (overlapping generations) environment created by employee spinoffs. Without finance constraints, enforcement of non-compete agreements unambiguously improves social welfare outcomes, and even increases the rate of spinoffs from original firms....

Persistent link: https://www.econbiz.de/10012457600

The Impact of Entrepreneurial Risk Aversion on Wages in General Equilibrium

Feng, Ying - 2015

One of the leading theories of entrepreneurship is that less risk averse individuals become entrepreneurs and more risk averse individuals become their employees. Kihlstrom and Laffont (1979) formalized this insight in an elegant and widely taught general equilibrium model. However, their model...

Persistent link: https://www.econbiz.de/10012457625

Invisible Women : Entrepreneurship, Innovation and Family Firms in France during Early Industrialization

Khan, B. Zorina - 2015

when the company is handed over to a female relative. Women in business have generally been presented as petty traders and … firms during the nineteenth century, and for disincentives for the integration of women in the business sector. These issues …

Persistent link: https://www.econbiz.de/10012457812

A Schumpeterian Model of Top Income Inequality

Jones, Charles I. - 2014

Top income inequality rose sharply in the United States over the last 35 years but increased only slightly in economies like France and Japan. Why? This paper explores a model in which heterogeneous entrepreneurs, broadly interpreted, exert effort to generate exponential growth in their incomes....

Persistent link: https://www.econbiz.de/10012458028

Demographics and Entrepreneurship

Liang, James - 2014

Entrepreneurship requires energy and creativity as well as business acumen. Some factors that contribute to … entrepreneurship may decline with age, but business skills increase with experience in high level positions. Having too many older … when older workers occupy key positions they may block younger workers from acquiring business skills. A formal theoretical …

Persistent link: https://www.econbiz.de/10012458161

Young, Restless and Creative : Openness to Disruption and Creative Innovations

Acemoglu, Daron - 2014

This paper argues that openness to new, unconventional and disruptive ideas has a first-order impact on creative innovations--innovations that break new ground in terms of knowledge creation. After presenting a motivating model focusing on the choice between incremental and radical innovation,...

Persistent link: https://www.econbiz.de/10012458770