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Some Simple Economics of Crowdfunding
Agrawal, Ajay K.; Goldfarb, Avi; Catalini, Christian - National Bureau of Economic Research (NBER) - 2013
It is not surprising that the financing of early-stage creative projects and ventures is typically geographically localized since these types of funding decisions are usually predicated on personal relationships and due diligence requiring face-to-face interactions in response to high levels of...
Persistent link: https://www.econbiz.de/10010969219
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Housing Collateral, Credit Constraints and Entrepreneurship - Evidence from a Mortgage Reform
Jensen, Thais Lærkholm; Leth-Petersen, Søren; Nanda, … - National Bureau of Economic Research (NBER) - 2014
We study how a mortgage reform that exogenously increased access to credit had an impact on entrepreneurship, using … point increase in entrepreneurship, equivalent to a 4% increase in the number of entrepreneurs. New entrants were more … benefit from the reform. Our results provide evidence that credit constraints do affect entrepreneurship, but that the overall …
Persistent link: https://www.econbiz.de/10010969457
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Banking Deregulations, Financing Constraints, and Firm Entry Size
Kerr, William; Nanda, Ramana - National Bureau of Economic Research (NBER) - 2009
We examine the effect of US branch banking deregulations on the entry size of new firms using micro-data from the US Census Bureau. We find that the average entry size for startups did not change following the deregulations. However, among firms that survived at least four years, a greater...
Persistent link: https://www.econbiz.de/10008601677
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Savings Constraints and Microenterprise Development: Evidence from a Field Experiment in Kenya
Dupas, Pascaline; Robinson, Jonathan - National Bureau of Economic Research (NBER) - 2009
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/10005778404
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The Capital Structure Decisions of New Firms
Robinson, David T.; Robb, Alicia M. - National Bureau of Economic Research (NBER) - 2010
This paper investigates the capital structure choices that firms make in their initial year of operation, using restricted-access data from the Kauffman Firm Survey. Contrary to many accounts of startup activity, the firms in our data rely heavily on external debt sources such as bank financing,...
Persistent link: https://www.econbiz.de/10008531872
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Financing Constraints and Entrepreneurship
Kerr, William; Nanda, Ramana - National Bureau of Economic Research (NBER) - 2009
important role that entrepreneurship is believed to play in the process of economic growth, alleviating financing constraints … examining the relevance of financing constraints for entrepreneurship. We then introduce a framework that provides a unified …
Persistent link: https://www.econbiz.de/10008615799
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Financing Innovation
Kerr, William R.; Nanda, Ramana - National Bureau of Economic Research (NBER) - 2014
We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This research strand has been very active over the past five years, generating important new findings, questioning some long-held beliefs, and creating its own puzzles. Our review...
Persistent link: https://www.econbiz.de/10011071740
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Competitors, Complementors, Parents and Places: Explaining Regional Agglomeration in the U.S. Auto Industry
Cabral, Luis M B; Wang, Zhu; Xu, Daniel Yi - National Bureau of Economic Research (NBER) - 2013
Taking the early U.S. automobile industry as an example, we evaluate four competing hypotheses on regional industry agglomeration: intra-industry local externalities, inter-industry local externalities, employee spinouts, and location fixed-effects. Our findings suggest that inter-industry...
Persistent link: https://www.econbiz.de/10010969338
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Clusters of Entrepreneurship and Innovation
Glaeser, Edward Ludwig; Chatterji, Aaron; Kerr, William R. - National Bureau of Economic Research (NBER) - 2013
This paper reviews recent academic work on the spatial concentration of entrepreneurship and innovation in the United … identify and discuss policies that are being pursued in the United States to encourage local entrepreneurship and innovation …
Persistent link: https://www.econbiz.de/10010969371
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Firms and the Economics of Skilled Immigration
Kerr, Sari Pekkala; Kerr, William R.; Lincoln, William F. - National Bureau of Economic Research (NBER) - 2014
Firms play a central role in the selection, sponsorship, and employment of skilled immigrants entering the United States for work through programs like the H-1B visa. This role has not been widely recognized in the literature, and the data to better understand it have only recently become...
Persistent link: https://www.econbiz.de/10010969384