We study the impact of state-owned enterprises (SOEs) on the quality of entrepreneurship in China. Using long series of … improved the quality of entrepreneur- ship. Compared with entrepreneurs in other time periods, firms founded by the reluctant … entrepreneurs induced by the SOE layoffs have better performances. To explain these results, we present a simple model of …

century. In addition to the funding agency, the data report whether the government has title to the patent ("title" patents …) or funded a patent assigned to a private organization ("license" patents). The data include a large number of "license …" patents that cannot be linked to government funding from patent text or other sources. Combining the historical data with …

reference-dependent preferences, with a degree and distribution of loss aversion that explain common levels of risk aversion …

startup advantage in terms of forward citations and outlier-patent rates. Further, startup innovation is both more original …What is the role of startups within the innovation ecosystem? Since 2000, startups have grown in their share of … ventures in the innovation process relative to more traditional alternatives such as academia and established private …

, and predictability of stock returns. The key to our results is that the agent's risk-aversion changes over time as a …

We present a new model of asset prices in which investors evaluate risk according to prospect theory and examine its …

is evidence on which dimension of intertemporal risk - the risk or the time - is evaluated first. Though under discounted …. We find more support for the notion that the risk dimension is evaluated first …

We estimate differences in innovation behavior between foreign versus U.S.-born entrepreneurs in high-tech industries …. Our data come from the Annual Survey of Entrepreneurs, a random sample of firms with detailed information on owner … characteristics and innovation activities. We find uniformly higher rates of innovation in immigrant-owned firms for 15 of 16 …