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We empirically investigate whether the persistence of politicians in political institutions affects the innovation …' innovation activity. However, once the causal effect is isolated by means of instrumental variables, using death of politicians … persistence and the probability of process innovation. This finding is consistent with the view that political stability may …
Persistent link: https://www.econbiz.de/10009010055
-return characteristics of the selected innovation project and the mode of commercialization chosen by entrepreneurs (market entry versus sale … desire of governments to foster risky 'breakthrough' innovations. -- business taxation ; innovation ; market entry …
Persistent link: https://www.econbiz.de/10009130215
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Consumption risk sharing among U.S. federal states increases in booms and decreases in recessions. We find that small firms' access to credit markets plays an important role in explaining this stylized fact: business cycle fluctuations in aggregate risk sharing are more pronounced in states in...
Persistent link: https://www.econbiz.de/10003807913
Ownership of small businesses can facilitate upward mobility through the income hierarchy and help individuals maintain a place at the higher end of the income distribution hierarchy. This paper compares the positional stability of owners of small businesses with that of wage earners, arguing...
Persistent link: https://www.econbiz.de/10003850142
Small and medium enterprises (SMEs) are important for employment and economic activity; however, they are perceived to lack adequate financing, which hampers their growth. As a consequence, governments have implemented a number of programs to foster SME lending and attention has focused on...
Persistent link: https://www.econbiz.de/10003850504
The minimum wage rate has been introduced in many countries as a means of alleviating the poverty of the working poor. This paper shows, however, that an imperfectly enforced minimum wage rate causes small firms to face an upward-sloping labor supply schedule. Since this turns these firms into...
Persistent link: https://www.econbiz.de/10003872293
There is a lack of clear evidence of the ways in which dividend taxation affects dividend distributions and investment since the evidence is based mainly on the behaviour of large listed companies. This paper utilises a large register-based panel data set, where the vast majority of firms are...
Persistent link: https://www.econbiz.de/10003872811
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