Korean government has invested significant amount of resources through credit guarantee funds to promote SMEs survival …

specifications and alternative measures of financial constraints using an approach combining propensity score matching and difference …

to private equity schemes are a common factor in observed financial insolvency. Considering the behavioral attribute of … outcomes of both entrepreneurial activity (investment effort) and bankruptcy. Without correcting for endogeneity it does appear … that starting businesses causes bankruptcy. After using charitable foundations as an instrument, however, the data confirms …

This paper proposes a matching model that distinguishes between job creation by existing firms and job creation by firm … Pissarides matching model account for 10 percent of the cyclical variability of the vacancy unemployment ratio displayed by U ….S. data. A calibration of the model that explicitly considers hiring freeze and bankruptcy can account for 20 to 35 percent of …

This paper analyzes the patent propensity as an outcome of innovative activities of regional SMEs. To achieve the aims … firms designated as innovative SMEs by the government are not performing differently than general firms. Only the CEO … considered to actively promote SMEs innovativeness. …