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initially employ more skilled and more experienced workers than other startups. Controlling for these and other differences, we … find that spinoffs are less likely to exit than other startups. We show that in West and East Germany and in all sectors …
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founder(s). The analysis is based on matched employer-employee data and covers about 5,300 startups in manufacturing … endogenous and correlated with the human capital of the founders and the ownership structure of startups (single founder versus …
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