This paper attempts to introduce the entrepreneur as the “economic man” into a neoclassical framework and to indicate the role of government in fostering entrepreneurship. The entrepreneur is assumed to behave as if he maximizes utility including his value and desire to succeed, subject to...

While the importance of venture capital to the growth of small firms has been widely discussed during the past decade, little is know about the uses of equity capital, especially internal equity capital, by majority of small firms in the United States. Information from the Federal Reserve...

The federal government purchased goods and services valued at approximately $100 billion from small businesses in FY 2003, which was up from previous years. Moreover, in FY 2003, the federal government exceeded its small business contracting goal of 23 percent. Despite such achievements,...

Often the cooperation behavior of enterprises is described as a rational, conscious, and planned process. If so, a model should be able to identify distinguishing features that have a significant impact on the propensity for inter-firm cooperation. The proposed model analyzes the influence of...

The current fiscal climate is predicated on the notion that revisions to the tax code would be forthcoming every four years, i.e., corresponding to the presidential election cycle. While the depth of the adjustments is usually unknown, the probability that adjustments will happen is substantial....

This study gives estimates of the number of households owning privately held businesses in the United States, compares the demographic and economic characteristics of business owners and non-business owners, and examines the relationship between the growth in the total number of business...