The tax system has at times favoured firm control through private foundations, which has been argued to inhibit high-impact entrepreneurship and economic growth. However, research has been hampered due to a lack of systematic historical tax data. The purpose of this study is threefold. First, we...

In pursuing profit opportunities, entrepreneurs often use multi-person firms. Since employment contracts leave some discretion to the employees, organizational coherence requires that they are coordinated on the entrepreneurial business conception as their own frame of action. Accordingly, the...

Although many economists do a serious and respectable work, main stream economic theory contains an almost complete disregard for the importance of social, cultural and political structures which are the very foundation of the society. Worse than that, such disregard is developed into arrogance...

In the economic development literature, cultural diversity (for example, ethnolinguistic fractionalization) has been shown to have a negative impact on economic outcomes in many underdeveloped countries. We hypothesize that the impact of diversity on economic performance depends on the quality...

In the economic development literature, cultural diversity has been shown to have a positive impact on economic outcomes. A culturally diverse society or interaction among different cultures encourages exchange and competition and generates efficient outcome. Our paper hypothesizes that a...

Frank Knight's theory of the entrepreneurial function in modern enterprise is explored in two contexts. The first is the dismissal of the neoclassical theory of business enterprise by Berle and Means in The Modern Corporation and Private Property, and their subsequent call for measures that...

The author, a legal scholar, reviews academic literature regarding and otherwise relevant to the study of female entrepreneurship from across multiple disciplines. She reports that the legal academy has only minimally engaged in entrepreneurship scholarship and not at all as to female...

The economic performance of a country depends, among other things, on the strategies and structures of its firms. In the framework that is designed by institutions and policies and determined by technology and macroeconomic cycles, entrepreneurs decide how to allocate available resources in...

The enterprise is an historical phenomenon specific to capitalism. It is a fictional agent created by accounting and sanctioned by law. It is based on capital and its purpose is to yield monetary profit. Within the framework of the market economy, production is organized according to the...

Mature capitalism and market economy realities become intelligible also by scrutinizing their “prodigal children”: modern business corporations. But these are not some undivided entities. Beyond the place in the global division of labour, they are fiefs of in-built specialization among the...