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This paper surveys the various forms of market failure that can arise when innovating entrepreneurs consider entering an industry, and outlines possible implications for public policy. Externalities can arise from entrepreneurial activities such as spillover benefits from new innovations and...
Persistent link: https://www.econbiz.de/10011506218
We explore empirically the relationship between economic growth, factor inputs, institutions, and entrepreneurship. In … particular, we investigate whether entrepreneurship and institutions, either independently or in combination in an ecosystem … interdependent system of complementarities. We argue that entrepreneurship operating in particular institutional contexts, perhaps …
Persistent link: https://www.econbiz.de/10012944722
Analyzing data on all U.S. employers in a cohort of entering firms, we document a highly skewed size distribution, such that the largest 5% account for over half of cohort employment at firm birth and more than two-thirds at firm age 7. Little of the size variation is accounted for by industry...
Persistent link: https://www.econbiz.de/10011881435
This paper surveys the various forms of market failure that can arise when innovating entrepreneurs consider entering an industry, and outlines possible implications for public policy. Externalities can arise from entrepreneurial activities such as spillover benefits from new innovations and...
Persistent link: https://www.econbiz.de/10013320051
Persistent link: https://www.econbiz.de/10011595935
We examine whether VC-backed startups respond to R&D tax incentives by attempting to scale R&D activities through employment. We exploit a provision of the PATH Act of 2015, which allows qualified small businesses to offset payroll taxes with R&D tax credits, and show that marginally eligible...
Persistent link: https://www.econbiz.de/10013215958
Persistent link: https://www.econbiz.de/10011603531
We study whether corporate income taxation affects the long-term growth of newly incorporated companies through its effect on their choice of leverage at entry. We find that a decrease in corporate income taxation leads to a sizeable decrease in leverage at entry, and that the distribution of...
Persistent link: https://www.econbiz.de/10012895712
Persistent link: https://www.econbiz.de/10009629529
Persistent link: https://www.econbiz.de/10009629530