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Stock market wealth and entrepreneurship

Chodorow-Reich, Gabriel; Nenov, Plamen T.; Santos, … - 2024

We use data on stock portfolios of Norwegian households to show that stock market wealth increases entrepreneurship by relaxing financial constraints. Our research design isolates idiosyncratic variation in household-level stock market returns. An increase in stock market wealth increases the...

Persistent link: https://www.econbiz.de/10015324211

The returns to education for opportunity entrepreneurs, necessity entrepreneurs, and paid employees : conference paper

Fossen, Frank M.; Büttner, Tobias - 2013

We assess the relevance of formal education on the productivity of the self-employed and distinguish between opportunity entrepreneurs, who voluntarily pursue a business opportunity, and necessity entrepreneurs, who lack alternative employment options. We expect differences in the returns to...

Persistent link: https://www.econbiz.de/10010344606

Knowledge spillovers, ICT and productivity growth

Corrado, Carol; Haskel, Jonathan; Jona-Lasinio, Cécilia - 2014

This paper looks at the channels through which intangible assets affect productivity. The econometric analysis exploits a new dataset on intangible investment (INTAN-Invest) in conjunction with EUKLEMS productivity estimates for 10 EU member states from 1998 to 2007. We find that (a) the...

Persistent link: https://www.econbiz.de/10010374120

Intangible assets and investments at the sector level : empirical evidence for Germany

Crass, Dirk; Licht, Georg; Peters, Bettina - 2014

This paper investigates the role intangible capital plays for economic growth in different sectors in Germany. It consists of two major parts. In the first part, we aim at measuring investment in intangibles at the sector level. We shed light on differences across sectors but also compare these...

Persistent link: https://www.econbiz.de/10010385066

Intangible capital formation, international equity investments, and output synchronization

Baldi, Guido; Bodmer, André - 2018

We analyze the effects of intangible investment on international output synchronization. Using a dynamic stochastic general equilibrium model, we find that an increase in the importance of intangible capital leads to a higher degree of output comovement across countries. Therefore, countries in...

Persistent link: https://www.econbiz.de/10011857136

The adoption of non-rival inputs and firm scope

Jiang, Xian; Rubinton, Hannah - 2024

Custom software is distinct from other types of capital in that it is non-rival—once a firm makes an investment in custom software, it can be used simultaneously across its many establishments. Using confidential US Census data, we document that while firms with more establishments are more...

Persistent link: https://www.econbiz.de/10014505806

The skill balancing act : determinants of and returns to balanced skills

Bublitz, Elisabeth; Noseleit, Florian - 2011

Entrepreneurs are found to have balanced skill sets and most have worked in small firms before starting their own business. In light of this, we compare the skill sets of employees working in businesses of different size to the skill sets of entrepreneurs using a rich data set on the applied...

Persistent link: https://www.econbiz.de/10009129709

Innovation and social capital : across-country investigation

Doh, Soogwan; Acs, Zoltán J. - 2009

This study explores the impact of social capital on innovation by constructing a more general measure of social capital indicator consisting of generalized and institutional trust, associational activities and civic norms. We test the hypothesis that social capital has a positive impact on...

Persistent link: https://www.econbiz.de/10003886841

Who's afraid of big bad banks? : bank competition, SME, and industry growth

Inklaar, Robert; Koetter, Michael; Noth, Felix - 2012

use a dataset with approximately 700,000 firm-year observations of German small and medium-sized enterprises (SME) to … the German banking market. Market power generally spurs aggregate SME growth. Banks need to realize sufficient margins to … reduces SME growth in industries that depend heavily on external finance. -- growth decomposition ; reallocation ; banking …

Persistent link: https://www.econbiz.de/10009660031

Financial investment constraints : a panel threshold application to German firm level data

Tarassow, Artur - 2015 - First version: September 2014, Revised version: August 2015

This article tests the hypothesis that financial supply-side shifts help to explain the low-investment climate of private firms in Germany. The core contention is that a firm's financial position contributes to its access to external finance on credit markets. Special emphasis is put on small...

Persistent link: https://www.econbiz.de/10011317318