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The Returns to Education for Opportunity Entrepreneurs, Necessity Entrepreneurs, and Paid Employees
Fossen, Frank M.; Büttner, Tobias J. M. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012
employment options. We expect differences in the returns to education between these groups because of different levels of control …
Persistent link: https://www.econbiz.de/10011128857
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Risk Attitudes and Private Business Equity
Fossen, Frank M. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 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/10010544328
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Gender Differences in Entrepreneurial Choice and Risk Aversion: A Decomposition Based on a Microeconometric Model
Fossen, Frank M. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
and dependent employment are estimated separately by gender, accounting for non-random selection into the employment … in Germany. To explain the gender gap, a structural microeconometric model of the transition rates is estimated, which … includes a standard risk aversion parameter. As inputs into the model, the expected value and variance of earnings from self-employment …
Persistent link: https://www.econbiz.de/10008461826
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The Impact of Risk Attitudes on Entrepreneurial Survival
Caliendo, Marco; Fossen, Frank M.; Kritikos, Alexander S. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008
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/10004963639
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Risky Earnings, Taxation and Entrepreneurial Choice: A Microeconometric Model for Germany
Fossen, Frank M. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2007
model of occupational choice, higher expected after-tax earnings attract people to self-employment, while more risky net … earnings deter risk-averse individuals. In this paper I analyse the expected value and variance of income in self-employment … and dependent employment empirically, accounting for selection. Based on this analysis, structural models of self-employment …
Persistent link: https://www.econbiz.de/10005068790
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Risk Attitudes of Nascent Entrepreneurs: New Evidence from an Experimentally-Validated Survey
Caliendo, Marco; Fossen, Frank M.; Kritikos, Alexander S. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2006
, however, that this is true only for people coming out of regular employment, whereas for individuals coming out of …
Persistent link: https://www.econbiz.de/10005068847
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The Private Equity Premium Puzzle Revisited: New Evidence on the Role of Heterogeneous Risk Attitudes
Fossen, Frank M. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008
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/10005068887
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Would a Flat Tax Stimulate Entrepreneurship in Germany?: A Behavioural Microsimulation Analysis Allowing for Risk
Fossen, Frank M. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 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/10005069001
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Income Taxes and Entrepreneurial Choice: Empirical Evidence from Germany
Fossen, Frank M.; Steiner, Viktor - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2006
analyse the effect of the tax cuts on transitions into and out of self-employment and on the rate of self-employment. We apply … indicate that the decrease in tax rates did not have a significant effect on the self-employment decision. …
Persistent link: https://www.econbiz.de/10005069032
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Trust, Positive Reciprocity, and Negative Reciprocity: Do These Traits Impact Entrepreneurial Dynamics?
Caliendo, Marco; Fossen, Frank M.; Kritikos, Alexander S. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
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/10008765038