Showing 1 - 10 of 2,152
Emigration of young, motivated individuals may deprive countries-of-origin of entrepreneurs. We isolate exogenous variation in a large emigration wave from Italy between 2008 and 2015 by interacting diaspora networks with economic pull factors in destination countries, and find that larger...
Persistent link: https://www.econbiz.de/10012829325
This short article studies the tax effects on a start-up investment decision under uncertainty. Since the representative firm can decide both when to invest and how much to borrow, the distortive effects are twofold. We thus show that the deadweight loss (namely, the ratio between the welfare...
Persistent link: https://www.econbiz.de/10013310768
to entrepreneurship, and output. The calibration shows that optimism can explain the empirical puzzle of the low mean … returns to entrepreneurship compared to average wages …
Persistent link: https://www.econbiz.de/10012892272
This paper explores the impact of credit market on the entrepreneurs and demand for credit in a credit constrained economy and the resultant impact on the capital flows. In standard trade models the capital flows across countries are explained as a result of the rate of return differentials due...
Persistent link: https://www.econbiz.de/10012824582
We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are …
Persistent link: https://www.econbiz.de/10010291511
We examine the impact of fintech start-ups on the performance and default risk of traditional financial institutions. We find a positive relationship between fintech start-up formations and incumbent institutions’ performance for the period 2005–2018 and a large sample of financial...
Persistent link: https://www.econbiz.de/10013229697
This paper considers a two sectors heterogeneous firms model where firms' specific production technology and capital intensity are endogenously determined through business dynamics. It shows that a shock to the relative price of investment goods is followed by the entrance of new firms...
Persistent link: https://www.econbiz.de/10012834880
Various forms of social learning and network effects are at work on crowdfunding platforms, giving rise to informational and payoff externalities. We use novel entrepreneur-backer data to study how these externalities shape funding dynamics, within and across projects. We find that backers...
Persistent link: https://www.econbiz.de/10012861378
Venture capital (VC) and growth are examined both empirically and theoretically. Empirically, VC-backed startups have higher early growth rates and initial patent quality than non-VC-backed ones. VC-backing increases a startup's likelihood of reaching the right tails of the firm size and...
Persistent link: https://www.econbiz.de/10012861411
Are entrepreneurs liquidity constraint? Using quasi-random housing wealth variation resulting from communist era decisions, we argue yes, as we find that wealthier East Germans are more likely to become self-employed after reunification. In the literature, no such strong relationship was found...
Persistent link: https://www.econbiz.de/10012865172