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This paper considers the implications of asymmetric information in capital markets for entrepreneurial entry and tax policy. In many countries, governments subsidize the creation of new firms. One possible justification for these subsidies is that capital markets for the financing of new firms...
Persistent link: https://www.econbiz.de/10011506206
This paper surveys the various forms of market failure that can arise when innovating entrepreneurs consider entering an industry, and outlines possible implications for public policy. Externalities can arise from entrepreneurial activities such as spillover benefits from new innovations and...
Persistent link: https://www.econbiz.de/10011506218
the rest must resort to standard bank finance. We consider a number of policies to promote entrepreneurship and venture …
Persistent link: https://www.econbiz.de/10011514147
We investigate entry in a dynastic entrepreneurship (overlapping generations) environment created by employee spinoffs …
Persistent link: https://www.econbiz.de/10010528295
The paper introduces a model of enterprise formation in a unionized economy with labor protection and wage bargaining. Enterprise formation is subject to future market risk and is shaped by labor market institutions in the post-entry stage. The predictions of the model are tested in...
Persistent link: https://www.econbiz.de/10009781640
Persistent link: https://www.econbiz.de/10003712514
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We study a model of network formation and start-up financing with endogenous entrepreneurial type distribution. A hub firm admits members to its network based on signals about entrepreneurs' types. Network membership is observable, which allows lenders to offer different interest rates to...
Persistent link: https://www.econbiz.de/10003974212
Persistent link: https://www.econbiz.de/10003499576
investment, and output subsidies at the production stage. While these measures stimulate entrepreneurship, only cost …
Persistent link: https://www.econbiz.de/10011398877