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Constrained firms, not subsistence activities: Evidence on capital returns and accumulation in Peruvian microenterprises

Göbel, Kristin; Grimm, Michael; Lay, Jann - 2012

We investigate the returns to capital and capital accumulation using panel data of Peruvian micro enterprises (MEs). Marginal returns to capital are found to be very high at low levels of capital, but rapidly decreasing at higher levels. The dynamic analyses of capital accumulation in MEs...

Persistent link: https://www.econbiz.de/10010289847

Better means more: property rights and high-growth aspiration entrepreneurship

Estrin, Saul; Korosteleva, Julia; Mickiewicz, Tomasz - 2009

This paper contrasts the determinants of entrepreneurial entry and high-growth aspiration entrepreneurship. Using the Global Entrepreneurship Monitor (GEM) surveys for 42 countries over the period 1998-2005, we analyse how institutional environment and entrepreneurial characteristics affect...

Persistent link: https://www.econbiz.de/10010271286

The Influence of Start-up Motivation on Entrepreneurial Performance

Caliendo, Marco; Kritikos, Alexander S.; Stier, Claudia - 2022

job creation, expansion and innovation activities for up to 40 months after business formation. Using self … better, the higher they score on this index. Effects are particularly strong for growth oriented outcomes like innovation and … ambition, and necessity. We show that individuals driven by opportunity motives perform better in terms of innovation and …

Persistent link: https://www.econbiz.de/10014296537

What Makes Small Firms Grow? : Finance, Human Capital, Technical Assistance, and the Business Environment in Romania

Brown, J. David; Earle, John S.; Lup, Dana - 2004

Although the development of a new private sector is generally considered crucial to economic transition, there has been rather little empirical research on the determinants of startup firm growth. This paper uses panel data techniques to analyze a survey of 297 new small enterprises in Romania...

Persistent link: https://www.econbiz.de/10010262083

Employment Protection Legislation and the Size of Firms

Garibaldi, Pietro; Pacelli, Lia; Borgarello, Andrea - 2003

The existing literature ignores the fact that in most European countries the strictness of Employment Protection Legislation (EPL) varies across the firm size distribution. In Italy firms are obliged to rehire an unfairly dismissed worker only if they employ more than 15 employees....

Persistent link: https://www.econbiz.de/10010262751

A Structural Empirical Model of Firm Growth, Learning, and Survival

Abbring, Jaap H.; Campbell, Jeffrey R. - 2003

We present a structural model of firm growth, learning, and survival and consider its identification and estimation. In the model, entrepreneurs have private and possibly errorridden observations of persistent and transitory shocks to profit. We demonstrate that the model's parameters can be...

Persistent link: https://www.econbiz.de/10010262756

Entrepreneurship and the process of firms' entry, survival and growth

Santarelli, Enrico; Vivarelli, Marco - 2006

This survey paper aims at critically discussing the recent literature on firm formation and survival and the growth of new-born firms. The basic purpose is to single out the microeconomic entrepreneurial foundations of industrial dynamics (entry and exit) and to characterise the founder's...

Persistent link: https://www.econbiz.de/10010267877

Defending Gibrat's Law as a long-run regularity

Lotti, Francesca; Santarelli, Enrico; Vivarelli, Marco - 2007

According to Gibrat's Law of Proportionate Effect, the growth rate of a given firm is independent of its size at the beginning of the period examined. While earlier studies tended to confirm the Law, more recent research generally rejects it. This paper reconciles these two streams of...

Persistent link: https://www.econbiz.de/10010268311

Credit constraints as a barrier to the entry and post-entry growth of firms

Aghion, Philippe; Fally, Thibault; Scarpetta, Stefano - 2007

Advanced market economies are characterized by a continuous process of creative destruction. Market forces and technological developments play a major role in shaping this process, but institutional and policy settings also influence firms' decision to enter, to expand if successful and to exit...

Persistent link: https://www.econbiz.de/10010268719

Internal finance and growth: microeconometric evidence on Chinese firms

Guariglia, Alessandra; Liu, Xiaoxuan; Song, Lina - 2008

Does the availability of internal finance constrain firm growth? Or does it foster it? To answer these questions, we use a panel of 407,096 Chinese firms over the period 2000-2005. We estimate dynamic assets growth equations augmented with cash flow, and find that the growth of state owned...

Persistent link: https://www.econbiz.de/10010269180

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