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Owners of private companies often invest a substantial share of their net worth in one company, which exposes them to idiosyncratic risk. For US companies we investigate whether owners require compensation for lack of diversification in the form of higher returns to equity. Exposure to...
Persistent link: https://www.econbiz.de/10010299466
Does heterogeneity in the educational backgrounds of the founders matter for firm success? Are team foundations more successful than single entrepreneurs? These questions are analysed using data on academic spinoffs in Germany. Firm success is measured by employment growth. I find that team...
Persistent link: https://www.econbiz.de/10010299836
Owners of private companies often invest a substantial share of their net worth in one company, which exposes them to idiosyncratic risk. For US companies we investigate whether owners require compensation for lack of diversification in the form of higher returns to equity. Exposure to...
Persistent link: https://www.econbiz.de/10010299837
transformatorischen und strategischen Potenziale eingeht. Schließlich wird erörtert, in welcher Weise Unternehmer Staatskapazität … Kapazität beiträgt bzw. beitragen. Die Strategie der Unternehmer ist dabei interessengeleitet in dem Sinne, dass sie im … transformatorischen Potenzials der strategischen Gruppe(n) Unternehmer untersucht, ehe Rückschlüsse auf die Bedeutung des Agierens der …
Persistent link: https://www.econbiz.de/10010302297
Auf Grundlage eines großen kombinierten Firmen-Beschäftigten-Datensatzes untersuchen wir Unterschiede im unerklärten geschlechtsspezifischen Lohndifferential zwischen eigentümer- und managergeführten Betrieben für Deutschland. Wir stellen die Hypothese auf, dass eigentümergeführte...
Persistent link: https://www.econbiz.de/10010303637
The amendment to the German Trade and Crafts Code in 2004 offers a natural experiment to asses the causal effects of this reform on the probabilities of being self-employed and transition into and out of self-employment, using cross-sections (2002-2006) of German microcensus data. This study...
Persistent link: https://www.econbiz.de/10010303822
This paper analyzes how companies of immigrant entrepreneurs in knowledgeintensive industries differ from companies of native entrepreneurs with respect to start-up characteristics, firm survival and innovative performance. I focus on immigrants from the 'recruitment countries' of south and...
Persistent link: https://www.econbiz.de/10010304654
A personal bankruptcy law that allows for a 'fresh start' after bankruptcy reduces the individual risk involved in entrepreneurial activity. On the other hand, as risk shifts to creditors who recover less of their credit after a debtor's bankruptcy, lenders may charge higher interest rates or...
Persistent link: https://www.econbiz.de/10010304694
This paper systematically investigates whether different kinds of personality characteristics influence entrepreneurial development. On the basis of a large, representative household panel survey, we examine the extent to which the Big Five traits and further personality characteristics, which...
Persistent link: https://www.econbiz.de/10010304696