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The social and the private returns to education differ when education can increase productivity, and also be used to signal productivity. We show how instrumental variables can be used to separately identify and estimate the social and private returns to education within the employer learning...
Persistent link: https://www.econbiz.de/10012479834
soliciting the current client in the event of termination of employment. The socially optimal level of entrepreneurship will … are too restrictive and produce too little entrepreneurship, and governments can increase welfare by limiting enforcement …
Persistent link: https://www.econbiz.de/10012462718
Research on entrepreneurship often examines the local dimensions of new business formation. The local environment … dedicated to the geography of entrepreneurship. The paper frames the core questions facing researchers interested in assessing … the local causes and consequences of entrepreneurship, perturbs a core urban model to incorporate entrepreneurship, and …
Persistent link: https://www.econbiz.de/10012463113
entrepreneurship which identifies survival with performance. Instead, many entrepreneurs aim for a cash-out (IPO or acquisition …), especially in innovation based industries. Striving for a cash-out makes mistakes more likely and increases the probability of …
Persistent link: https://www.econbiz.de/10012463117
Entrepreneurs face significant non-diversifiable business risks. We build a dynamic incomplete markets model of entrepreneurial finance to demonstrate the important implications of nondiversifiable risks for entrepreneurs' interdependent consumption, portfolio allocation, financing, investment,...
Persistent link: https://www.econbiz.de/10012463800
aversion, higher initial assets, preferences for entrepreneurship over employment, and optimistic beliefs about the payoffs …
Persistent link: https://www.econbiz.de/10012464428
a start-up, or the inventor's effort cost in development is lower in a start-up. We test the theory using data from the … with the predictions of our theory …
Persistent link: https://www.econbiz.de/10012467204
Entrepreneurial activity is presumed to generate important spillovers, potentially justifying tax subsidies. How does the tax law affect individual incentives? How much of an impact has it had in practice? We first show theoretically that taxes can affect the incentives to be an entrepreneur due...
Persistent link: https://www.econbiz.de/10012469698
entrepreneurship, and use it for comparative statics and welfare analysis. One welfare conclusion is that intermediaries may have …
Persistent link: https://www.econbiz.de/10012470007
an entrepreneurial sector, the paper investigates the effects of taxes on the equilibrium level of entrepreneurship and …
Persistent link: https://www.econbiz.de/10012470760