We present a theory of entrepreneurial behavior that explores the relationship between overconfidence and successful firm outcomes, such as acquisition or IPO. In our model, increasing overconfidence produces two conflicting effects on the probability of a successful outcome: it not only induces...

We present a theory of entrepreneurial behavior that explores the relationship between overconfidence and successful firm outcomes, such as acquisition or IPO. In our model, increasing overconfidence produces two conflicting effects on the probability of a successful outcome: it not only induces...

The Small Business Financial Health Project is a joint initiative of the Community Development divisions of the Federal Reserve Banks of Chicago and San Francisco, FundWell, Inc and Pepperdine University Private Capital Markets Project. The purpose of the project is to raise awareness about...

We present a theory of entrepreneurial behavior that explores the relationship between overconfidence and successful firm outcomes, such as acquisition or IPO. In our model, increasing overconfidence produces two conflicting effects on the probability of a successful outcome: it not only induces...

Starting in the first quarter of 2012, the Pepperdine Private Capital Markets Project has done a quarterly survey of private companies asking questions about the demand for and availability of external capital for their business. Through factor analysis, we have identified a subset of variables...

The impact of changes in the minimum wage on employment is a politically charged topic that has been researched extensively. This paper analyzes what small business owners intend to do in the short term to pay for such an increase in labor costs. Since there are multiple ways a business can...

In 2010, Maryland became the first state to allow firms to incorporate as “benefit corporations,” which are for-profit entities with a social purpose. Since then, nineteen other states have followed. Using survey data from the population of 94 benefit corporations existent at the time of the...