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Do Liquidity Constraints Matter For New Entrepreneurs
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Book Synopsis Do Liquidity Constraints Matter for New Entrepreneurs? by : Kevin B. Moore
Download or read book Do Liquidity Constraints Matter for New Entrepreneurs? written by Kevin B. Moore and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Numerous studies have found a positive relationship between wealth and entering entrepreneurship, and interpret this as evidence of the existence of liquidity constraints. However, recent research has shown that the relationship between wealth and entering entrepreneurship may be non-linear and only significant for high-wealth households; this result cannot be interpreted as evidence of liquidity constraints. Using data from the SCF, we construct a proxy for wealth based on the household's home equity wealth at the time of the entrepreneurial decision. The results provide further evidence that the relationship between wealth and entering entrepreneurship is only significant for high-wealth households and that liquidity constraints do not appear to bind for the majority of new entrepreneurs. Possible explanations for the relationship between wealth and becoming an entrepreneur include lower risk aversion and differences in the types of businesses started by high-wealth households"--Federal Reserve Board web site.
Book Synopsis Do Liquidity Constraints Matter for New Entrepreneurs? by : Kevin Moore
Download or read book Do Liquidity Constraints Matter for New Entrepreneurs? written by Kevin Moore and published by . This book was released on 2004 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Numerous studies have found a positive relationship between wealth and entering entrepreneurship, and interpret this as evidence of the existence of liquidity constraints. However, recent research has shown that the relationship between wealth and entering entrepreneurship may be non-linear and only significant for high-wealth households; this result cannot be interpreted as evidence of liquidity constraints. Using data from the SCF, we construct a proxy for wealth based on the household's home equity wealth at the time of the entrepreneurial decision. The results provide further evidence that the relationship between wealth and entering entrepreneurship is only significant for high-wealth households and that liquidity constraints do not appear to bind for the majority of new entrepreneurs. Possible explanations for the relationship between wealth and becoming an entrepreneur include lower risk aversion and differences in the types of businesses started by high-wealth households"--Federal Reserve Board web site.
Book Synopsis Why are Entrepreneurs Liquidity Constrained? by : Wei-ying Chang
Download or read book Why are Entrepreneurs Liquidity Constrained? written by Wei-ying Chang and published by . This book was released on 1997 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Entrepreneurship in Emerging Domestic Markets by : Glenn Yago
Download or read book Entrepreneurship in Emerging Domestic Markets written by Glenn Yago and published by Springer Science & Business Media. This book was released on 2007-12-03 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book will be the most up-to-date compilation of different perspectives on entrepreneurship. The authors are highly respected in the field, either as scholars or practitioners and have interacted before on this topic either as co-authors on papers or as conference discussants The research provides historical information as well as the latest data on entrepreneurship The book focuses on "emerging domestic markets" which encompasses minorities, women, and low-income communities
Book Synopsis Liquidity Constraints, Household Wealth, and Entrepreneurship Revisited by : Robert W. Fairlie
Download or read book Liquidity Constraints, Household Wealth, and Entrepreneurship Revisited written by Robert W. Fairlie and published by . This book was released on 2012 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: A large body research shows a positive relationship between wealth and entrepreneurship and interprets the relationship as providing evidence of liquidity constraints. Recently, however, the liquidity constraint interpretation has been challenged because of the finding that the relationship between business entry rates and assets is flat throughout most of the asset distribution and only rises dramatically after this point (Hurst and Lusardi 2004). We reexamine the liquidity constraint hypothesis in three ways. First, we demonstrate that examining the relationship separately for those who experience a job loss and those who do not reveals generally increasing entry rates through the wealth distribution for both groups. Based on the entrepreneurial choice model of Evans and Jovanovic (1989), these two groups face different incentives, and thus have different solutions to the entrepreneurial decision. We also find evidence of a stronger relationship between entrepreneurship and a different measure of wealth - net housing equity - for the two groups. Second, we examine the liquidity constraint hypothesis using a two-period simulation model that extends the Evans and Jovanovic (1989) model. The model shows how exogenous wealth shocks can be used to accurately identify the presence of liquidity constraints even allowing for endogenous saving and correlated abilities. Third, we provide new evidence from matched Current Population Survey (1993-2004) data to study whether changes in housing prices affect self-employment entry.
Book Synopsis Liquidity Constraints and Entrepreneurial Performance by : Hans K. Hvide
Download or read book Liquidity Constraints and Entrepreneurial Performance written by Hans K. Hvide and published by . This book was released on 2007 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Liquidity Constraints, Household Wealth, and Entrepreneurship Revisited by : Robert W. Fairlie
Download or read book Liquidity Constraints, Household Wealth, and Entrepreneurship Revisited written by Robert W. Fairlie and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Entrepreneurial Decisions and Liquidity Constraints by : Douglas Holtz-Eakin
Download or read book Entrepreneurial Decisions and Liquidity Constraints written by Douglas Holtz-Eakin and published by . This book was released on 1993 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Overcoming Barriers to Entrepreneurship in the United States by : Diana Furchtgott-Roth
Download or read book Overcoming Barriers to Entrepreneurship in the United States written by Diana Furchtgott-Roth and published by Lexington Books. This book was released on 2008 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book presents, chapter-by-chapter, evidence for and possible solutions to many of the most evident obstacles to entrepreneurs. It seeks to demonstrate that policy changes can have a significant effect on entrepreneurship in America by reducing barriers that block business creation.
Book Synopsis Identifying Binding Constraints to Growth by : Mr.Mauricio Vargas
Download or read book Identifying Binding Constraints to Growth written by Mr.Mauricio Vargas and published by International Monetary Fund. This book was released on 2015-01-14 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: As emphasized by Hausmann, Rodrik and Velasco, the policy challenge of boosting growth requires prioritization and identifying what are the most binding constraints. This paper draws on firm-level data from the World Bank Enterprise Survey, which suggests that the obstacles for the functioning of firms is related to firm size. Recognizing the potential endogeneity and simultaneity between firms' constraints and firm size, we implement an Ordered-Probit model with a potential categorical endogenous regressor to estimate, for the case of Bolivia, the conditional probability of facing obstacles given the firm size category, while controlling for other factors. The results confirm the importance of allowing for the roles of firm size in identifying constraints and suggest priorities for policies to remove constraints to economic performance.
Book Synopsis Liquidity Constraints and Their Effects on the Transition Into Entrepreneurship by : Teodor Stoyanov
Download or read book Liquidity Constraints and Their Effects on the Transition Into Entrepreneurship written by Teodor Stoyanov and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Liquidity Constraints, Household Wealth, and Entrepreneurship by : Erik Hurst
Download or read book Liquidity Constraints, Household Wealth, and Entrepreneurship written by Erik Hurst and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The propensity to become a business owner is a nonlinear function of wealth.The relationship between wealth and entry into entrepreneurship is essentially flat over the majority of the wealth distribution.It is only at the top of the wealth distribution--after the ninety-fifth percentile--that a positive relationship can be found. Segmenting businesses into industries with high-- and low--starting capital requirements, we find no evidence that wealth matters more for businesses requiring higher initial capital.When using inheritances as an instrument for wealth, we find that both past and future inheritances predict current business entry, showing that inheritances capture more than simply liquidity.We further exploit the regional variation in house prices and find that households that lived in regions in which housing prices appreciated strongly were no more likely to start a business than households in other regions.(Publication abstract).
Book Synopsis Identifying Binding Constraints to Growth by : Mr.Mauricio Vargas
Download or read book Identifying Binding Constraints to Growth written by Mr.Mauricio Vargas and published by International Monetary Fund. This book was released on 2015-01-14 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: As emphasized by Hausmann, Rodrik and Velasco, the policy challenge of boosting growth requires prioritization and identifying what are the most binding constraints. This paper draws on firm-level data from the World Bank Enterprise Survey, which suggests that the obstacles for the functioning of firms is related to firm size. Recognizing the potential endogeneity and simultaneity between firms' constraints and firm size, we implement an Ordered-Probit model with a potential categorical endogenous regressor to estimate, for the case of Bolivia, the conditional probability of facing obstacles given the firm size category, while controlling for other factors. The results confirm the importance of allowing for the roles of firm size in identifying constraints and suggest priorities for policies to remove constraints to economic performance.
Book Synopsis Personal Wealth from a Global Perspective by : James B. Davies
Download or read book Personal Wealth from a Global Perspective written by James B. Davies and published by OUP Oxford. This book was released on 2008-11-13 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is great media fascination in the activities and lifestyles of the super-rich. But personal wealth is also important for those of more modest means as a store of potential consumption, as a cushion against emergencies, and as collateral for business and investment loans. This book is the first global study of household assets and debts. It documents not only the level, distribution, and trend of wealth holdings in rich nations, but also addresses developing countries like China and India. The situation in Latin America and Africa is given attention along with the experiences of Russia and other transition countries. Components of household wealth like financial assets, land, and property are examined, as well as the gender division. Worldwide, it is estimated that the richest 2% own more than half of total global wealth, and that this elite group resides almost exclusively in North America, Western Europe, and rich Asia-Pacific countries.
Book Synopsis The Allocation of Limited Entrepreneurial Attention by : Sharon Gifford
Download or read book The Allocation of Limited Entrepreneurial Attention written by Sharon Gifford and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Allocation of Limited Entrepreneurial Attention examines the implications of allocating limited entrepreneurial attention among activities or projects. This book maintains that attention is simultaneously limited in that a decision maker can pay attention to only one thing at a time, and entrepreneurial in that it may be allocated to evaluating a potential new project for possible adoption. However, since the outcome of the allocation of attention is not certain, the number of projects among which attention can be allocated is stochastic and the maximum number of projects is endogenously determined by the optimal allocation of limited entrepreneurial attention and describes the implications of this analysis for a number of economic problems.
Book Synopsis Is Inequality Bad for Business? by : Alice Mesnard
Download or read book Is Inequality Bad for Business? written by Alice Mesnard and published by World Bank Publications. This book was released on 2001 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Data on occupational choice among return migrants in Tunisia reveal that higher inequality of wealth reduces the level of new business activity. The effect is not large, however. Even dramatic redistributions of wealth would not provide much stimulus to entrepreneurship.
Book Synopsis Liquidity Constraints, Spillovers, and Entrepreneurship by : Rafael P. Ribas
Download or read book Liquidity Constraints, Spillovers, and Entrepreneurship written by Rafael P. Ribas and published by . This book was released on 2019 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper exploits a welfare programme in Brazil to investigate the role of financial constraints, in opposition to general equilibrium mechanisms, in explaining entrepreneurship. A method for decomposing its impact into direct and indirect effects is presented. Instead of requiring two-level randomization, this method only assumes cluster-level independence of treatment. Results indicate that the number of formal entrepreneurs increased, but only due to the indirect component. Further tests suggest that the indirect effect is associated with an increase in private transfers between households. Thus entrepreneurship tends to respond more to the interaction between households than to financial constraints.
