We explore how financial constraints distort the entry decisions among otherwise productive entrepreneurs and limit growth of promising young firms. A model of liquidity-constrained entrepreneurs suggests that the easing of credit constraints can induce more entry of firms with greater long-run...

The relationship of firm size and age to its growth and survival differs according to whether size is measured by sales or employment. Using a large and representative dataset of Greek firms over the period 1999-2014, we find the following patterns. Controlling for age, there is a strong...

The current study investigates how institutional constraints and firms' and entrepreneurs' characteristics affect business recovery. Some elements have not yet been rigorously examined in the existing literature, especially not concerning the post-communist countries' business recovery component...

This paper assesses the prospects of a 2021 time bomb in small and medium-sized enterprises (SME) failures triggered by the generous support policies enacted during the 2020 COVID-19 crisis. Policies implemented in 2020, on their own, do not create a 2021 time bomb for SMEs. Rather, business...

The main research aim is to investigate and test the long-term existence of a balanced relationship (cointegration) between business demographics and economic growth, expressed in terms of real GDP per capita, and to estimate the econometric models expressing relationships between analyzed...

In this brief we studied the liquid wealth of small business owners as they start new firms, and as they close firms. To do this, we leveraged a unique data set that offers a granular, longitudinal, and high-frequency lens on financial outcomes, both for people and the businesses they own....

We examine how regional-level political influence affects firm financial performance and survival. Combining representative survey data on mid-sized manufacturing firms in Russia with official registry data, we find that politically influential firms exhibit higher profitability and retain...

We examine how regional-level political influence affects firm financial performance and survival. Combining representative survey data on mid-sized manufacturing firms in Russia with official registry data, we find that politically influential firms exhibit higher profitability and retain...