-return characteristics of the selected innovation project and the mode of commercialization chosen by entrepreneurs (market entry versus sale … entrepreneurs but, at the same time, give an incentive to choose low risk projects, due to the existence of limited loss offset …

Emigration of young, motivated individuals may deprive countries-of-origin of entrepreneurs. We isolate exogenous …

We investigate entry in a dynastic entrepreneurship (overlapping generations) environment created by employee spinoffs … increases the rate of spinoffs from original firms. Indeed, if employers have all the bargaining power vis-à-vis their employees …, optimal entry of original firms and all subsequent employee spinoffs is achieved, despite the fact that the original firm can …