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We study the dynamic general equilibrium of an economy where risk averse shareholders delegate the management of the firm to risk averse managers. The optimal contract has two main components: an incentive component corresponding to a non-tradable equity position and a variable 'salary'...
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This meta-analytical review of empirical studies of the impact of schooling on entrepreneurship selection and … entrepreneurship to farming. The education effect that separates workers into self-employment and wage employment is stronger for women …
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Little empirical evidence provides insight in person-oriented drivers of business survival and success of small business owners. In this paper I perform a duration analysis of business survival amongst young white (selfemployed) small business owners in the U.S. Compulsory exits are...
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