This paper analyzes the early development of new establishments evaluating the role of spatial selection and agglomeration. The analysis shows a clear and strong selection of more productive new establishments into larger regions, regardless of the foundation type. While at the end of the...

This paper analyzes empirically whether individuals' decisions to start an own business can be influenced via television (TV). To identify its effect, we utilize exogenous regional variation in the availability of TV that conveyed images conducive to entrepreneurship and the notion that...

Cluster policies aim at improving collaboration between co-located actors to address systemic failures. As yet, cluster policy evaluations are mainly concerned with effects on firm performance. Some recent studies move to the system level by assessing how the structure of actor-based knowledge...

A region's present-day economic performance can be deeply anchored in historical factors. We provide the first systematic evidence of a deep imprinting effect in the context of Roman rule in the south-western part of Germany nearly 2,000 years ago. Our analysis reveals that regions in the former...

Immigrants can expand labor supply and compete for jobs with native-born workers. But immigrants may also start new firms, expanding labor demand. This paper uses U.S. administrative data and other data sources to study the role of immigrants in entrepreneurship. We ask how often immigrants...

Concerns about socially uneven progress and inequality have regained public attention (including that of many populist politicians). The purpose of this paper is to identify the economic policies as well as economic factors that facilitate inclusive development. This paper is a first attempt to...

One's willingness to accept an outcome or even to correct it depends on whether or not the underlying procedure is deemed legitimate. We manipulate the role allocation procedure in the dictator game to illustrate that this belief is not independent of the outcome and is self-serving in its...

We examine thousands of U.S. private equity (PE) buyouts from 1980 to 2013, a period that saw huge swings in credit market tightness and GDP growth. Our results show striking, systematic differences in the real-side effects of PE buyouts, depending on buyout type and external conditions....

Immigrants who have a better command of the host country's language are more likely to be employed and earn higher wages. Using a survey experiment among international students in Germany, I investigate whether information on the monetary benefits of mastering the language of the host country...

We analyze the influence of two contradicting settings on the success in the academic spin-off creation process. Scientists, who are embedded in the academic setting, have to reach out and adapt to the logics of the commercial setting to successfully found their firm. However, along this...