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Does limited access to formal savings services impede business growth in poor countries? To shed light on this question, we randomized access to non-interest-bearing bank accounts among two types of self-employed individuals in rural Kenya: market vendors (who are mostly women) and men working...
Persistent link: https://www.econbiz.de/10012757920
Theory and evidence have raised concerns that microcredit does more harm than good, particularly when offered at high interest rates. We use a clustered randomized trial, and household surveys of eligible borrowers and their businesses, to estimate impacts from an expansion of group lending at...
Persistent link: https://www.econbiz.de/10013060267
We provide evidence on the value of patents to startups by leveraging the quasi-random assignment of applications to examiners with different propensities to grant patents. Using unique data on all first-time applications filed at the U.S. Patent Office since 2001, we find that startups that win...
Persistent link: https://www.econbiz.de/10012960171
-cycle patterns for firm growth. These theories include organizational capital accumulation and management practices, financial … organization and innovation. Second, among theories we analyze, organizational capital and management practices are the most …
Persistent link: https://www.econbiz.de/10013044979
We exploit a unique combination of administrative sources and survey data to study the match between firms and managers. The data includes manager characteristics, such as risk aversion and talent; firm characteristics, such as ownership; detailed measures of managerial practices relative to...
Persistent link: https://www.econbiz.de/10013115322
Dynastic management is the inter-generational transmission of control over assets that is typical of family-owned firms …. It is pervasive around the World, but especially in developing countries. We argue that dynastic management is a … incidence of dynastic management depends on the severity of asset-market imperfections, on the economy's saving rate, and on the …
Persistent link: https://www.econbiz.de/10012752756
organization; and relationships with limited partners. In selecting investments, VCs see the management team as more important than …
Persistent link: https://www.econbiz.de/10012983682
We use an innovative survey tool to collect management practice data from 732 medium sized manufacturing firms in the …-level productivity, profitability, Tobin%u2019s Q, sales growth and survival rates. Management practices also display significant cross … tail of extremely badly managed firms. We find that poor management practices are more prevalent when (a) product market …
Persistent link: https://www.econbiz.de/10012752282
We present a model of endogenous firm growth with R&D investment and stochastic innovation as the engines of growth. The model for firm growth is a partial equilibrium model drawing on the quality ladder models in the macro growth literature, but also on the literature on patent races and the...
Persistent link: https://www.econbiz.de/10013127899
We show that there is a negative relation between leverage and future growth at the firm level and, for diversified firms, at the segment level. Further, this negative relation between leverage and growth holds for firms with low Tobin's q, but not for high-q firms or firms in high-q industries....
Persistent link: https://www.econbiz.de/10013138668