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Caliendo, Marco - 2019

As the policy debate on entrepreneurship increasingly centers on firm growth in terms of job creation, it is important to better understand which variables influence the first hiring decision and which ones influence the subsequent survival as an employer. Using the German Socioeconomic Panel...

Persistent link: https://www.econbiz.de/10012859845

Gender Differences in Entrepreneurial Choice and Risk Aversion : A Decomposition Based on a Microeconometric Model

Fossen, Frank M. - 2009

and dependent employment are estimated separately by gender, accounting for non-random selection into the employment …Why are female entrepreneurs so rare? Women have both to a lower entry rate into self-employment and a higher exit rate … in Germany. To explain the gender gap, a structural microeconometric model of the transition rates is estimated, which …

Persistent link: https://www.econbiz.de/10014201519

Global Integration of Central and Eastern European Financial Markets : The Role of Economic Sentiments

Belke, Ansgar Hubertus - 2009

This paper examines the importance of different economic sentiments, e.g. consumer moods, for the Central and Eastern European countries (CEECs) during the transition process. We first analyze the importance of economic confidence with respect to the CEEC's financial markets. Since the...

Persistent link: https://www.econbiz.de/10013153403

Precautionary and Entrepreneurial Saving : New Evidence from German Households

Fossen, Frank M.; Rostam‐Afschar, Davud - 2009

The well-documented positive correlation between income risk and wealth was interpreted as evidence for high amounts of precautionary wealth in various studies. However, the large estimates emerged from pooling non-entrepreneurs and entrepreneurs without controlling for heterogeneity. This paper...

Persistent link: https://www.econbiz.de/10014202213

Risk Attitudes and Private Business Equity

Fossen, Frank M. - 2012

Why do people engage in entrepreneurship and commit large parts of their personal wealth to their business, despite comparably low returns and high risk? This paper connects several streams of literature to shed some light on this puzzle and suggests possible future research avenues. Key...

Persistent link: https://www.econbiz.de/10013107056

The Private Equity Premium Puzzle Revisited : New Evidence on the Role of Heterogeneous Risk Attitudes

Fossen, Frank M. - 2009

The empirical finding that entrepreneurs tend to invest a large share of their wealth in their own firms despite comparably low returns and high risk has become known as the private equity premium puzzle. This paper provides evidence supporting the hypothesis that lower risk aversion of...

Persistent link: https://www.econbiz.de/10013158383

Would a Flat Tax Stimulate Entrepreneurship in Germany? : A Behavioural Microsimulation Analysis Allowing for Risk

Fossen, Frank M. - 2008

-ante effects of the German tax reform 2000 and of two hypothetical flat tax scenarios on entries into and exits out of self-employment … structural microeconometric models of transitions into and out of self-employment. These structural models include an estimated … people from choosing self-employment. This is explained by the reduction of entrepreneurs' income risk through progressive …

Persistent link: https://www.econbiz.de/10012724638

Personality Characteristics and the Decision to Become and Stay Self-Employed

Caliendo, Marco; Fossen, Frank M.; Kritikos, Alexander - 2011

development. On the basis of a large, representative household panel survey, we examine the extent to which the Big Five traits … into self-employment and survival of self-employed persons in Germany. The empirical analysis reveals that among the … parental self-employment …

Persistent link: https://www.econbiz.de/10014184449

Trust, Positive Reciprocity, and Negative Reciprocity : Do These Traits Impact Entrepreneurial Dynamics?

Caliendo, Marco; Fossen, Frank M.; Kritikos, Alexander - 2011

Experimental evidence reveals that there is a strong willingness to trust and to act in both positively and negatively reciprocal ways. So far it is rarely analyzed whether these variables of social cognition influence everyday decision making behavior. We focus on entrepreneurs who are...

Persistent link: https://www.econbiz.de/10014187377

The Impact of Risk Attitudes on Entrepreneurial Survival

Caliendo, Marco; Fossen, Frank M.; Kritikos, Alexander - 2009

Risk attitudes have an impact on not only the decision to become an entrepreneur but also the survival and failure rates of entrepreneurs. Whereas recent research underpins the theoretical proposition of a positive correlation between risk attitudes and the decision to become an entrepreneur,...

Persistent link: https://www.econbiz.de/10014206890