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Persistent link: https://www.econbiz.de/10010128922
Cressy (2000) argues that the positive correlation between assets and the rate of business startups is due to DARA preferences. We show however that the required property is prudence, and prudence is consistent with DARA, IARA or CARA.
Persistent link: https://www.econbiz.de/10010678828
Cressy (2000) argues that the positive correlation between assets and the rate of business startups is due to DARA preferences. We show however that the required property is prudence,and prudence is consistent with DARA, IARA or CARA.
Persistent link: https://www.econbiz.de/10011188891