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.
In the debate on why firms exist, the question of who chooses between firms and markets and on what basis is rarely addressed. This paper argues that the choice is a core element of the entrepreneurial pursuit of visions or conceptions of business opportunities.
The authors develop a search model of venture capital in which the number of successful matches of entrepreneurs and venture capitalists at any moment in time is a function of the number of entrepreneurs searching for funds, the number of VCs searching for entrepreneurs, and the number of vacancies posted by each VC.
The authors document that the fraction of entrepreneurs who work in the region where they were born is significantly higher than the corresponding fraction for dependent workers. This difference is more pronounced in more developed regions and positively related to the degree of local financial development.
The authors employ a large panel containing almost 60,000 firm–year observations on listed and unlisted companies in Eastern European economies to assess the differential impact of foreign bank lending on firm growth and financing.
The authors re-examine the measurement of entrepreneurial activity and provide a model-based approach at measure. Even though there is consensus about the importance of measuring entrepreneurial activity, researchers differ about the appropriate ways to measure the breadth of entrepreneurial activity, the authors conclude
The focus of the paper is on the individual characteristics of newly certified auditors who apply for their auditing licenses in anticipation of entering solo practice or a partnership in an auditing firm, comparing them to their counterparts who do not apply for such a license. Our analysis draws on an integration of the human capital and entrepreneurship literatures, leading us to a number of hypotheses that are tested through logistic regression models.
Overall findings reveal that entrepreneurs choose the location of their businesses in response to competing business conditions in and outside the state, making state bankruptcy laws a significant determinant of entry and exit decisions by small firms.
This paper develops a game-theoretic model that predicts when a university invention is commercialized in a start-up firm rather than an established firm. The model predicts that university inventions are more likely to occur in start-ups when the technology transfer officers search cost is high, the cost of development or commercialization is lower for a start-up, or the inventors effort cost in development is lower in a start-up.
This paper uses 2004 survey data from the 15 old EU member states and the US to explain country differences in latent and actual entrepreneurship. A comparison is made with results using a similar survey in 2000.