Who Values the Status of the Entrepreneur? Parker and Van Praag (2009) showed, based on theory, that the group status of the profession ‘entrepreneurship’ shapes people’s occupational preferences and thus their choice behavior. The current study focuses on the determinants and consequences of the group status of a profession, entrepreneurship in particular. If the group status of entrepreneursh...

We model the IPO decision of an entrepreneur in an exchange economy. The entrepreneur holds a Lucas Tree, and when the IPO occurs, the market converges to a Two Trees economy built on Cochrane, Longstaff, and Santa-Clara (2008). We solve the optimal timing problem and study the diversification effects over the firm’s value and entrepreneur’s consumption. The model predicts that IPOs should be c...

We propose a tractable model of entrepreneur dynamics where the investment conditions are stochastic. Applying the approach of stochastic control and optimization, we solve the dynamics of the entrepreneur’s optimal investment, consumption and portfolio allocation under regime switching. We find that the interactions of precautionary savings and liquidation boundary advance/postpone motives gen...

Unlike in the past where industrial policy was either focused on creation and growth of state-owned firms or alternatively consisted merely of broadly functional policies without consideration for firm or entrepreneurial specifics, the requirement now is that future industrial policy ought to be a nuanced partnership between entrepreneurs and the state. In this paperwe outline some consideratio...

Unlike in the past where industrial policy was either focused on creation and growth of stateowned firms or alternatively consisted merely of broadly functional policies without consideration for firm or entrepreneurial specifics, the requirement now is that future industrial policy ought to be a nuanced partnership between entrepreneurs and the state. In this paper we outline some consideratio...

The nature of the firm and its financing are closely interlinked. To produce significant net present value, an entrepreneur has to transform her enterprise into one that is differentiated from the ordinary. To achieve the control that will allow her to execute this strategy, she needs to have substantial ownership, and thus financing. But it is hard to raise finance against differentiated asset...

This paper presents a theoretical framework in which the relationships between ethnic entrepreneurs and the communities in which they work can be understood. The nature of social ties that affect ethnic entrepreneurs is described. Drawing on concepts from the family business literature, it is proposed that entrepreneurs will have an ambivalent relationship with their employees, customers, co-et...

This study provides some empirical insight into managerial roles of chief information officer (CIO) based on Mintzberg's classic managerial role model and CSC's information systems (IS) leadership roles. A survey was conducted in Norway to investigate potential predictors of leadership roles. Statistical results indicate that CIOs find the role of entrepreneur most important, and this role has ...

prices? As it stands, the theorem provides an important benchmark and enforces careful thinking about financial markets’ workings and the imperfections that would create a world where a firm’s financial position (hence equity prices) affects its ability to engage in production. Many possible imperfections could generate such a world. This article focuses on failures of information. Suppose that...