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The effect of foreign bank presence on firm entry and exit in transition economies
Havrylchyk, Olena - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2011
This study investigates the impact of foreign bank penetration on firm entry in Central and Eastern Europe. Acquisition of domestic banks by foreign investors has lowered rates of firm creation, decreased the average size of entrants, and increased firm exit in industries with greater...
Persistent link: https://www.econbiz.de/10009146903
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FinTech credit and entrepreneurial growth
Hau, Harald; Huang, Yi; Shan, Hongzhe; Sheng, Zixia - 2021
Based on automated credit lines to more than two million vendors trading on Alibaba’s online retail platform, we show how the take-up of FinTech credit varies with the entrepreneur’s bank distance. Proximity to the branches of the five largest stateowned banks correlates positively with the...
Persistent link: https://www.econbiz.de/10012612853
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Hoping to win, expected to lose: Theory and lessons on micro enterprise development
Karlan, Dean; Knight, Ryan; Udry, Christopher - 2012
Many basic economic theories with perfectly functioning markets do not predict the existence of the vast number of microenterprises readily observed across the world. We put forward a model that illuminates why financial and managerial capital constraints may impede experimentation, and thus...
Persistent link: https://www.econbiz.de/10010369061
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Hoping to Win, Expected to Lose: Theory and Lessons on Microenterprise Development
Karlan, Dean; Knight, Ryan; Udry, Christopher - 2012
We show how financial and managerial constraints impede experimentation and thus limit learning about the profitability of investments. Imperfect information about one’s own type, but willingness to experiment to learn one’s type, leads to short-run negative expected returns to investments,...
Persistent link: https://www.econbiz.de/10010610688
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Hoping to Win, Expected to Lose: Theory and Lessons on Micro Enterprise Development
Karlan, Dean; Knight, Ryan; Udry, Christopher - Economic Growth Center, Economics Department - 2012
Many basic economic theories with perfectly functioning markets do not predict the existence of the vast number of microenterprises readily observed across the world. We put forward a model that illuminates why financial and managerial capital constraints may impede experimentation, and thus...
Persistent link: https://www.econbiz.de/10010570695
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Hoping to Win, Expected to Lose: Theory and Lessons on Micro Enterprise Development
Karlan, Dean S.; Knight, Ryan; Udry, Christopher - C.E.P.R. Discussion Papers - 2012
Many basic economic theories with perfectly functioning markets do not predict the existence of the vast number of microenterprises readily observed across the world. We put forward a model that illuminates why financial and managerial capital constraints may impede experimentation, and thus...
Persistent link: https://www.econbiz.de/10011084680
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Public equity markets and innovation
Bernstein, Shai - 2017
This paper reviews the literature on the role of public equity markets in the innovation ecosystem. The review highlights the importance of public equity markets in funding the research and development activities of young and high growth firms. It also illustrates the dependence of venture...
Persistent link: https://www.econbiz.de/10011723674
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Financing Constraints, Home Equity and Selection into Entrepreneurship
Jensen, Thais Laerkholm; Leth-Petersen, Søren; Nanda, … - 2021
impacted selection into entrepreneurship. We find that increased entry was concentrated among entrepreneurs whose firms were …
Persistent link: https://www.econbiz.de/10013202284
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Housing Collateral, Credit Constraints and Entrepreneurship - Evidence from a Mortgage Reform
Laerkholm Jensen, Thais; Leth-Petersen, Søren; Nanda, … - C.E.P.R. Discussion Papers - 2014
We study how a mortgage reform that exogenously increased access to credit had an impact on entrepreneurship, using … point increase in entrepreneurship, equivalent to a 4% increase in the number of entrepreneurs. New entrants were more … benefit from the reform. Our results provide evidence that credit constraints do affect entrepreneurship, but that the overall …
Persistent link: https://www.econbiz.de/10011084236
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Public equity markets and innovation
Bernstein, Shai - 2017
This paper reviews the literature on the role of public equity markets in the innovation ecosystem. The review highlights the importance of public equity markets in funding the research and development activities of young and high growth firms. It also illustrates the dependence of venture...
Persistent link: https://www.econbiz.de/10011853002