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We document how a plant-specific shock to investment opportunities at one plant of a firm ("treated plant") spills over to other plants of the same firm--but only if the firm is financially constrained. While the shock triggers an increase in investment and employment at the treated plant, this...
Persistent link: https://www.econbiz.de/10012460069
) the effects of trade and growth on the skill premium. The theory is consistent with certain facts about factor allocation …In this paper we develop a theory of how factors interact at the plant level. The theory has implications for: (1) the … micro foundations for capital skill complementarity (2) the relationship between factor allocation and plant size and (3 …
Persistent link: https://www.econbiz.de/10012468615
-variables techniques. We then apply our methodology to study the wages and allocation of workers across occupations and across industries … misleading. We also suggest further applications of our theory and methodology …
Persistent link: https://www.econbiz.de/10012469825
Financial frictions distort the allocation of resources among productive units--all else equal, firms whose financing …
Persistent link: https://www.econbiz.de/10012460110
This paper analyzes the role of liquidity constraints in the formation of new entrepreneurial enterprises. The basic empirical strategy is to determine whether an individual's wealth affects the probability of becoming an entrepreneur, and the conditional amounts of depreciable assets, ceteris...
Persistent link: https://www.econbiz.de/10012474416
The paper studies the factors which shape entrepreneurship among young adults. It finds, using data on a British birth …
Persistent link: https://www.econbiz.de/10012475785
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/10012463151
We explore the impact of the institutional environment on the nature of entrepreneurial activity across Europe. Political, legal, and regulatory variables that have been shown to impact capital market development influence entrepreneurial activity in the emerging markets of Europe, but not in...
Persistent link: https://www.econbiz.de/10012468529
established by non-star analysts. Extending traditional theories of entrepreneurship and labor mobility, our results also suggest … that drivers of turnover vary by destination: (a) turnover to entrepreneurship and (b) other turnover. In contrast to … turnover to entrepreneurship, star analysts are less likely to move to other firms than non-star analysts …
Persistent link: https://www.econbiz.de/10012465006
-entrepreneurial sectors, and its allocation depends on the reward structure. We test these hypotheses by linking administrative college …
Persistent link: https://www.econbiz.de/10012533414