We investigate the manifold posed question: To what extent does investment in human and social capital, besides the effect of talent, enhance entrepreneurial performance? We distinguish between three different performance measures: survival, profits, and generated employment. On the basis of the...

Two approaches can be distinguished with respect to modelling entrepreneurship: (i) the approachfocusing on the net development of the number of entrepreneurs in an equilibrium framework and (ii)the approach focusing on the entries and exits of entrepreneurs. In this paper we unify these...

This article investigates empirically whether and to what extent initial capital constraints hinder entrepreneurial performance once the venture has been started. Prior empirical research in this area could investigate this issue only indirectly by lack of data. The key contribution of this...

A survey is given of models in the literature that can be used to explain the number of self-employed individuals in the framework of a competitive market. Apart from giving a survey, this paper also intends to explain how the various models work. Thus, the connections between the various models...

Firm growth is an important indicator of a thriving economy. Although the determinants of firm growth have been studied in various disciplines, an integrated analysis is still lacking. This paper attempts to provide such an analysis. Many determinants of firm growth are summarized and classified...

Using a behavioral model of political decision-making, it is argued that an increasing population size and/or an increasing efficiency of production in a private enterprise economy relative to a centrally planned economy may create the conditions for a self-interested nomenklatura in a...