, potentially spurring productive investment. Low interest rates, however, also induce entrepreneurs to lever up so as to increase … their incentives thereby lowering productivity and discouraging investment. If leverage is unregulated (for example, due to … payouts by stimulating investment in response to adverse shocks only up to a level below the first-best. The optimal monetary …

-binding investment credit limit. Permanent dividend tax reforms distort capital investment decisions in the binding long-run equilibrium …

This paper proposes and analyses a model of start-up investment. Innovative entrepreneurs are commercially … the rest must resort to standard bank finance. We consider a number of policies to promote entrepreneurship and venture …

be used in the process of entrepreneurship development within a changing business environment. To achieve the research …