subsidy for entrepreneurship. I disagree. This Article argues that the preferential tax treatment of founders’ stock cannot be …

entrepreneurship activity. Our research design isolates idiosyncratic, quasi-random variation in stock market returns. An increase in … wealth on firm outcomes that corrects for the bias introduced by selection into entrepreneurship. An increase in stock market … new firm is one-for-one, indicating that higher stock market wealth relaxes would-be entrepreneurs' financial constraints …

redistributive taxation. In equilibrium, agents become entrepreneurs if their skill is sufficiently high or risk aversion … sufficiently low. Under heavier taxation, entrepreneurs are more skilled and less risk-averse, on average. Through these selection …

redistributive taxation. Agents differ in both skill and risk aversion. In equilibrium, agents become entrepreneurs if their skill is … sufficiently high or risk aversion sufficiently low. Under heavier taxation, entrepreneurs are more skilled and less risk …

redistributive taxation. In equilibrium, agents become entrepreneurs if their skill is sufficiently high or risk aversion … sufficiently low. Under heavier taxation, entrepreneurs are more skilled and less risk-averse, on average. Through these selection …