To facilitate the transformation of the German economy from the traditional manufacturing industries towards emerging new technologies, a new segment of the Frankfurt exchange was introduced in 1997 - Der Neue Markt. This study provides evidence that not only did many new firms obtain funding...

In 1997, a new segment of the Frankfurt stockexchange was introduced to promote Germany's transition from traditionalmanufacturing to new technologies: the Neuer Markt. To discover whether thecreation of the Neuer Markt was a success, the relationship between firm sizeand firm growth of...

This paper investigates the dynamic relationship between self-employment and unemployment rates. On the one hand, high unemployment rates may lead to start-up activity of self-employed individuals (the “refugee” effect). On the other hand, higher rates of self-employment may indicate...