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From Population Growth to Firm Demographics : Implications for Concentration, Entrepreneurship and the Labor Share
Hopenhayn, Hugo - 2018
The US economy has undergone a number of puzzling changes in recent decades. Large firms now account for a greater share of economic activity, new firms are being created at a slower rate, and workers are getting paid a smaller share of GDP. This paper shows that changes in population growth...
Persistent link: https://www.econbiz.de/10012481030
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The State of American Entrepreneurship : New Estimates of the Quantity and Quality of Entrepreneurship for 15 US States, 1988-2014
Guzman, Jorge - 2016
entrepreneurship. Building on Guzman and Stern (2015a; 2015b), this paper offers new evidence to inform this debate by estimating … simultaneously account for both the quantity as well as the quality of entrepreneurship: the Entrepreneurial Quality Index (EQI …, measuring the average quality level among a group of start-ups within a given cohort), the Regional Entrepreneurship Cohort …
Persistent link: https://www.econbiz.de/10012456579
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Financing Constraints and Entrepreneurship
Kerr, William - 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/10012463151
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Firm-Specific Resources, Financial-Market Development and the Growth of U.S. Multinationals
Feinberg, Susan - 2002
We study the resource allocation decisions of U.S. multinational corporations (MNCs). We examine how established MNCs grow across countries and how firm-specific resources and host country financial-market development influence MNC growth. We find evidence of intra-firm trade-offs to growth in...
Persistent link: https://www.econbiz.de/10012469457
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Capital Market Financing, Firm Growth, Firm Size Distribution
Didier, Tatiana - 2014
Which firms issue equity and debt in domestic and international markets and what happens to their assets, sales, and number of employees? To answer these questions, we assemble a new dataset on firm-level capital raising activity during 1991-2011, which we match with firm attributes for 45,527...
Persistent link: https://www.econbiz.de/10012458331
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The Firm as a Dedicated Hierarchy : A Theory of the Origin and Growth of Firms
Rajan, Raghuram G. - 2000
A fundamental problem entrepreneurs face in the formative stages of their businesses is how to provide incentives for employees to protect, rather than steal, the source of organizational rents. We study how the entrepreneur's response to this problem will determine the organization's internal...
Persistent link: https://www.econbiz.de/10012471229
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Measuring the Dynamics of Young and Small Businesses : Integrating the Employer and Nonemployer Universes
Davis, Steven J. - 2007
We develop a preliminary version of an Integrated Longitudinal Business Database (ILBD) that combines administrative records and survey data for all employer and nonemployer business units in the United States. Unlike other large-scale business databases, the ILBD tracks business transitions...
Persistent link: https://www.econbiz.de/10012465428
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Does Local Financial Development Matter?
Guiso, Luigi - 2002
We study the effects of differences in local financial development within an integrated financial market. To do so, we construct a new indicator of financial development by estimating a regional effect on the probability that, ceteris paribus, a household is shut off from the credit market. By...
Persistent link: https://www.econbiz.de/10012469791
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Age and High-Growth Entrepreneurship
Azoulay, Pierre - 2018
Many observers, and many investors, believe that young people are especially likely to produce the most successful new firms. We use administrative data at the U.S. Census Bureau to study the ages of founders of growth-oriented start-ups in the past decade. Our primary finding is that successful...
Persistent link: https://www.econbiz.de/10012453226
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What is a Patent Worth? Evidence from the U.S. Patent “Lottery”
Farre-Mensa, Joan - 2017
We provide evidence on the value of patents to startups by leveraging the random assignment of applications to examiners with different propensities to grant patents. Using unique data on all first-time applications filed at the U.S. Patent Office since 2001, we find that startups that win the...
Persistent link: https://www.econbiz.de/10012455413