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We provide a theory for career choices of employees willing to become entrepreneurs and facing credit constraints. We show that they need a sufficient mix of reputation and financial capital. We consider their choice to work for transparent or opaque firms. Transparent firms disclose more...
Persistent link: https://www.econbiz.de/10010706599
This paper aims at highlighting the debate on firm heterogeneity in the informal sector by testing whether entrepreneurial familial background impacts informal businesses outcomes in the West African context. In the USA, a literature aiming at understanding the high intergenerational correlation...
Persistent link: https://www.econbiz.de/10010708619
Persistent link: https://www.econbiz.de/10010905342
states. An innovation is a set of states that are not publicly known along with an asset (in a broad sense) that pays … contingent on those states. The creator of an innovation is an entrepreneur. He is represented by a probability measure on the … set of new states. All other agents perceive the innovation as ambiguous: each of them is represented by a set of …
Persistent link: https://www.econbiz.de/10010933661
states. An innovation is a set of states that are not publicly known along with an asset (in a broad sense) that pays … contingent on those states. The creator of an innovation is an entrepreneur. He is represented by a probability measure on the … set of new states. All other agents perceive the innovation as ambiguous: each of them is represented by a set of …
Persistent link: https://www.econbiz.de/10010616508