This paper computes optimal top marginal tax rates in Bewley-Huggett-Aiyagari–type economies that include entrepreneurs. Consistent with the data, entrepreneurs are overrepresented at of income distribution and thus disproportionately affected by an increase rate. The rate maximizes welfare is 60 percent. While average gains positive similar across occupations along transition, they larger for ...

Based on an institutional perspective, this study examines the influence of social desirability entrepreneurship early-stage entrepreneurs’ internationalization and moderating role home country economic freedom. Using data from 45,454 entrepreneurs in 48 countries for period 2005–2016, we find that negatively affects internationalization, freedom positively moderates relationship. The contribut...

Crowdfunding, Cascades and Informed Investors Do higher proportions of (a) informed investors and (b) high-quality projects increase the number of good projects that are ultimately financed via crowdfunding? A simple model and simulation reveals the answers to both questions to be: ‘not necessarily’. JEL Classification: L26, C63, G23

Abstract Certification by analysts on a FinTech platform that harnesses the “wisdom of crowds” is associated with successful initial coin offerings (ICOs). We show favorable ratings group diverse backgrounds positively predict fundraising success and long-run token performance. Analysts’ also help detect potential fraud ex ante. document have career concerns are incentivized to issue informativ...

A tanulmany a mikro-, kis- es kozepvallalati szektor vallalatainak kompetenciateljesitmenye alapjan ertelmezett versenykepesseg penzugyi teljesitmeny kozotti kapcsolatot vizsgalja. Az osszefugges megteremtesen tulmenően azt is elemzi – ellentetben teljesitmenyt alakito mechanizmusok elemzesevel foglalkozo mas tanulmanyokkal –, hogy kozepvallalatok hogyan hasznaljak fel megtermelt profitjaikat. ...

For decades, entrepreneurship and strategy research has been dominated by agent-centric inward-looking theoretical perspectives. The ongoing COVID-19 pandemic demonstrates the limits of this stance, as its influence on business both enormous palpable. most part, effects are no doubt negative. Business research—and presumably practice—typically address such in terms failure, resilience, crisis m...

We propose that the rate of creation and failure of new firm start-ups can be modelled as a search and matching process, as in labor market matching models. Deriving an "entrepreneurial" Beveridge curve, we show that a successful start-up depends on the efficiency with which entrepreneurial ability is matched with business opportunity, and outline a number of possible applications of this match...

Self-Employment Dynamics, State Dependence and Cross-Mobility Patterns This paper analyzes the mobility between self-employment, wage employment and nonemployment. Using data for men in West Germany, we find strong true state dependence in all three states. Moreover, compared to wage employment, non-employment increases the probability of self-employment significantly, and self-employment goes ...

De la capacité de l’entrepreneur à concevoir une organisation apte créer des canaux d’information suffisamment robustes dépendent nature innovations effectuées, façon dont sont exploitées les connaissances scientifiques et techniques, l’usage qui est fait l’esprit créatif. C’est cette aune qu’il convient juger du comportement entrepreneurial, rythmes imposés par finance, allouées ressources hum...

What makes entrepreneurs different? Using a cross-country dataset, this paper explores essential parts of the value system of entrepreneurs in Western European countries by comparing value items of the self-employed to that of the non-self-employed. The selfemployed rate values higher that aim toward openness to change and self-enhancement. In turn, values related to conservation are considered...