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What drives women out of entrepreneurship? The joint role of testosterone and culture

Guiso, Luigi; Rustichini, Aldo - C.E.P.R. Discussion Papers - 2011

entrepreneurship so that only women with well above average entrepreneurial skills find it attractive to self-select into … entrepreneurship. This finding can rationalize three facts: a) fewer women than men are entrepreneurs; b) the proportion of women among … entrepreneurs tends to be higher in countries with higher women emancipation; c) women who break the barrier into entrepreneurship …

Persistent link: https://www.econbiz.de/10008854553

Understanding the size and profitability of firms: The role of a biological factor

Guiso, Luigi; Rustichini, Aldo - C.E.P.R. Discussion Papers - 2011

We collect information on prenatal testosterone in a large sample of entrepreneurs by measuring the length of their 2th to 4th fingers in face to face interviews. Entrepreneurs with higher exposure to prenatal testosterone (lower second to fourth digit ratio) manage larger firms, are matched...

Persistent link: https://www.econbiz.de/10008854464

What Hinders Investment in the Aftermath of Financial Crises: Insolvent Firms or Illiquid Banks?

Kalemli-Ozcan, Sebnem; Kamil, Herman; Villegas-Sanchez, … - C.E.P.R. Discussion Papers - 2011

We provide evidence on the real effects of credit supply shocks utilizing a new firm-level database from six Latin American countries between 1990 to 2005. Holding creditworthiness constant through foreign currency debt exposure, we compare investment undertaken by domestic exporters to that of...

Persistent link: https://www.econbiz.de/10009275697

Quantifying Productivity Gains from Foreign Investment

Fons-Rosen, Christian; Kalemli-Ozcan, Sebnem; … - C.E.P.R. Discussion Papers - 2013

We quantify the causal effect of foreign investment on total factor productivity (tfp) using a new global firm-level database. Our identification strategy relies on exploiting the difference in the amount of foreign investment by financial and industrial investors and simultaneously controlling...

Persistent link: https://www.econbiz.de/10011084518

Deep Financial Integration and Volatility

Kalemli-Ozcan, Sebnem; Sørensen, Bent E; Volosovych, Vadym - C.E.P.R. Discussion Papers - 2010

We investigate the relationship between financial integration and output volatility at micro and macro levels. Using a very large firm-level dataset (AMADEUS) from 16 European countries, we construct a measure of ``deep'' financial integration at the regional level based on observations of...

Persistent link: https://www.econbiz.de/10008468519

Financial Integration and Business Cycle Synchronization

Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Peydró, … - C.E.P.R. Discussion Papers - 2009

Standard theory predicts that financial integration leads to a lower degree of business cycle synchronization. Surprisingly, cross-country studies find the opposite. Our contribution is to document the theoretically predicted negative effect of financial integration on business cycle...

Persistent link: https://www.econbiz.de/10005041098

The Cost of Banking Regulation

Guiso, Luigi; Sapienza, Paola; Zingales, Luigi - C.E.P.R. Discussion Papers - 2006

We use exogenous variation in the degree of restrictions to bank competition across Italian provinces to study both the effects of bank regulation and the impact of deregulation. We find that where entry was more restricted the cost of credit was higher and - contrary to expectations- access to...

Persistent link: https://www.econbiz.de/10005792358

Household Portfolios in Italy

Guiso, Luigi; Jappelli, Tullio - C.E.P.R. Discussion Papers - 2000

We provide a detailed account of the portfolio of Italian households and its evolution, using repeated cross-sectional and panel data drawn from the 1989-95 Bank of Italy Survey of Household Income and Wealth. We offer an in-depth description of the lifetime pattern of asset holdings and their...

Persistent link: https://www.econbiz.de/10005792420

Awareness and Stock Market Participation

Guiso, Luigi; Jappelli, Tullio - C.E.P.R. Discussion Papers - 2004

The extent to which consumers are aware of available financial assets depends on the incentives of asset suppliers to spread information about the instruments they issue. We propose a theoretical framework in which the amount of information disseminated and the probability of individuals...

Persistent link: https://www.econbiz.de/10005124162

Household Stockholding in Europe: Where Do We Stand, and Where Do We Go?

Guiso, Luigi; Haliassos, Michalis; Jappelli, Tullio - C.E.P.R. Discussion Papers - 2003

We discuss the current state of stock ownership among households in major European countries (France, Germany, Italy, the Netherlands, Sweden and the UK), drawing parallels and contrasts with the US experience. We use detailed microeconomic datasets and explore the extent to which observed...

Persistent link: https://www.econbiz.de/10005656278