We study a market with entrepreneurial and workers entry where both entrepreneurs' abilities and workers' qualities are … subsidy to labour and a simultaneous tax on entrepreneurs to curb excessive entry, with learning a subsidy-only policy can be …

contains elements of the asymmetric information approach and behavioral finance (overconfident entrepreneurs). The model … managers), for example the pecking-order theory. It also contrasts traditional behavioral finance literature (e.g. Fairchild …

-exempt assets are liquidated. Entrepreneurs can undo this “insurance” by posting collateral. The opportunity cost of doing so is … lower for safer entrepreneurs who face a lower probability of default. Accordingly, we show that under adverse selection, as … tests using data from the US Survey of Small Business support our theory …

contains elements of the asymmetric information approach and behavioral finance (overconfident entrepreneurs). The model …-order theory) where equity represents an inferior security. The latter has rational managers. It also contrasts traditional …

We study a regional economy with a large number of entrepreneurs who own firms and who want to go public. Specifically …

We study a regional economy with a large number of entrepreneurs who own firms and who want to go public. Specifically …