entrepreneurship

Decline of the Independent Inventor: A Schumpterian Story?

Joseph Schumpeter argued in Capitalism, Socialism and Democracy that the rise of large firms’ investments in in-house R&D spelled the doom of the entrepreneurial innovator. The authors explore this idea by analyzing the career patterns of successive cohorts of highly productive inventors from the late nineteenth and early twentieth centuries. They find that over time highly productive inventors were increasingly likely to form long-term attachments with firms.

Financial Integration and Entrepreneurial Activity: Evidence from Foreign Bank Entry in Emerging Markets

An extensive empirical literature has documented the positive growth effects of equity market liberalization. However, this line of research ignores the impact of financial integration on a category of firms crucial for economic development, i.e. the small entrepreneurial firms. This paper aims to fill this void.

Entrepreneurship Among Married Couples in the United States: A Simultaneous Probit Approach

This article proposes a simultaneous probit equation framework to analyse the business ownership patterns of married couples in the United States. A structural model of knowledge spillovers within couples is formulated and estimated. Empirical analysis reveals significant and substantial positive interdependence of business ownership propensities within couples.