While mature capital markets in Western economies suffer from a significant drop in listed companies for two decades, the number of listings at stock exchanges on the African continent is increasing and the importance of stock exchanges for equity issues is growing. This not only raises...

Humans make decisions jointly with others. They share responsibility for the outcome with their interaction partners. Today, more and more often the partner in a decision is not another human but, instead, a machine. Here we ask whether the type of the partner, machine or human, affects our...

This paper reviews the empirical evidence concerning the regional emergence of innovative new businesses. It is argued that analyses using aggregate data that focus on the regional level and do not account for career patterns of innovative founders are of limited value in guiding policy that is...

The development of inventor networks is characterized by the addition of a significant number of new inventors, while a considerable number of incumbent inventors discontinue. We estimate the persistence of knowledge in regional inventor networks using alternative assumptions about knowledge...

New business formation plays an important role for economic development. Therefore, policy makers put emphasis on fostering start-up activity. Aims and scope of entrepreneurs can be just as heterogeneous as the structure of new ventures. The project "New business formation and the labor market...

Crowdinvesting emerged recently as an alternative way of funding for start-up projects. Our dataset consists of all pledges made at Companisto, one of the largest crowdinvesting platforms in Europe. Using cluster analysis based on individual investment histories, we find that crowdinvestors...

We investigate the role of entrepreneurship culture and the historical knowledge base of a region on current levels of new business formation in innovative industries. The analysis is for German regions and covers the time period 1907-2014. We find a pronounced positive relationship between high...

Migration restrictions are a hotly debated topic in the current refugee crisis in Europe. This paper investigates the long-term effect of a restrictive migration policy on regional development. The analysis is based on the large-scale expulsion of Germans from Cen-tral and Eastern Europe after...

The value of social network analysis is critically dependent on the comprehensive and reliable identification of actors and their relationships. We compare regional knowledge networks based on different types of data sources, namely, co-patents, co-publications, and publicly subsidized...

New business formation plays an important role for economic development. Therefore, policy makers put emphasis on fostering start-up activity. Aims and scope of entrepreneurs can be just as heterogeneous as the structure of new ventures. The project "New business formation and the labor market...