Industrialization and the rise of nationalism were the two major developments in Germany before the World War I. A novel county-level dataset reveals that industrialization and nationalism measured by membership in the "Kriegervereine'", the biggest civil organization at the time, were...

A framework which allows for the joint testing of the adaptive and rational expectations hypotheses is presented. We assume joint normality of expectations, realizations and variables in the information set, allowing for parsimonious interpretation of the data; conditional first moments are...

Start-up subsidies play an important role in supporting start-up innovation and performance. However, what characteristics help and hinder start-ups to seek start-up subsidies remains unclear. We study whether and how founder personality, as captured by the big five personality traits and...