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Do Entrepreneurs Want Control? And Should They Get What They Want? A Historical and Theoretical Exploration

Lamoreaux, Naomi R.; Rosenthal, Jean-Laurent - National Bureau of Economic Research - 2023

From Elihu Thomson and Herbert Dow in the late nineteenth century to Steve Jobs a hundred years later, many entrepreneurs have been stymied by their investors. In this paper, we use a simple model to explore how outcomes might have been different if entrepreneurs, instead of the investors, had...

Persistent link: https://www.econbiz.de/10014250124

Khan, B. Zorina - 2017

Scholars engage in extensive debate about the role of families and corporations in economic growth. Some propose that personal ties provide a mechanism for overcoming such transactions costs as asymmetrical information, while others regard familial connections as conduits for inefficiency, with...

Persistent link: https://www.econbiz.de/10012455628

The Geography of Crowdfunding

Agrawal, Ajay K. - 2011

Perhaps the most striking feature of "crowdfunding" is the broad geographic dispersion of investors in small, early-stage projects. This contrasts with existing theories that predict entrepreneurs and investors will be co-located due to distance-sensitive costs. We examine a crowdfunding setting...

Persistent link: https://www.econbiz.de/10012461837

Great Fortunes of the Gilded Age

Rockoff, Hugh - 2008

This paper explores the origins of the great fortunes of the Gilded Age. It relies mainly on two lists of millionaires published in 1892 and 1902, similar to the Forbes magazine list of the 400 richest Americans. Manufacturing, as might be expected, was the most important source of Gilded Age...

Persistent link: https://www.econbiz.de/10012464093

Entrepreneurship and Urban Growth : An Empirical Assessment with Historical Mines

Glaeser, Edward L. - 2012

Measures of entrepreneurship, such as average establishment size and the prevalence of start-ups, correlate strongly with employment growth across and within metropolitan areas, but the endogeneity of these measures bedevils interpretation. Chinitz (1961) hypothesized that coal mines near...

Persistent link: https://www.econbiz.de/10012460330

Cities, Skills, and Regional Change

Glaeser, Edward L. - 2011

One approach to urban areas emphasizes the existence of certain immutable relationships, such as Zipf's or Gibrat's Law. An alternative view is that urban change reflects individual responses to changing tastes or technologies. This paper examines almost 200 years of regional change in the U.S....

Persistent link: https://www.econbiz.de/10012461723

Secular Stagnation : The Long View

Eichengreen, Barry - 2015

Four explanations for secular stagnation are distinguished: a rise in global saving, slow population growth that makes investment less attractive, averse trends in technology and productivity growth, and a decline in the relative price of investment goods. A long view from economic history is...

Persistent link: https://www.econbiz.de/10012457830

The Forging of a Rebel

Marchais, Gauthier; Mugaruka, Christian M.; Sanchez de … - National Bureau of Economic Research - 2021

We use variation in exposure to victimization of 1,537 households of eastern Congo for each year of 1990-2013 to examine the formation of preferences to participate in armed groups. In this context, most armed groups are Congolese militia, whose objective is fighting foreign armed groups. We...

Persistent link: https://www.econbiz.de/10012510592

Electoral Violence and Supply Chain Disruptions in Kenya's Floriculture Industry

Ksoll, Christopher; Macchiavello, Rocco; Morjaria, Ameet - National Bureau of Economic Research - 2021

Violent conflicts, particularly at election times in Africa, are a common cause of instability and economic disruption. This paper studies how firms react to electoral violence using the case of Kenyan flower exporters during the 2008 post-election violence as an example. The violence induced a...

Persistent link: https://www.econbiz.de/10012629517

Education and Innovation : The Long Shadow of the Cultural Revolution

Huang, Zhangkai - 2020

The Cultural Revolution deprived Chinese students of the opportunity to receive higher education for 10 years when … turned 18 during the Cultural Revolution, which sharply reduced their chances of attending college. Using multiple approaches … Revolution and a regression discontinuity approach, we show that Chinese firms led by CEOs without a college degree spend less on …

Persistent link: https://www.econbiz.de/10012481690

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