We test whether managerial human capital has a first order effect on the performance and growth of small enterprises in emerging markets. In a randomized control trial in Puebla, Mexico, we randomly assigned 150 out of 432 small and medium size enterprises to receive subsidized consulting...

Exit of venture-backed firms often takes place through sales to large incumbent firms. We show that in such an environment, venture-backed firms have a stronger incentive to develop basic innovations into commercialized innovations than incumbent firms, due to strategic product market effects....

The sustainability of Welfare States requires high employment/high participation to raise the tax base and avoid distortions. To analyse labour market participation decisions in a world with market frictions, we propose and solve a three-state macro model of the labour market. We show that...

In this paper, the author focuses on labour market and economic reforms and their impact on economic growth, employment and wage outcomes in the longer term. To make the task more manageable the paper described the economic growth experiences of four English speaking countries. The author looks...

We study the implications of ownership and its induced incentives on firm performance in the ‘New Economy’. Instead of traditional performance we use firm survival on the stock market as the performance indicator. Using a unique data set of all 341 firms listed on the Neuer Markt, the German...

This Paper focuses on the entrepreneurial endeavors of immigrants and natives in Germany. We pay closer attention to Turks, since they are the largest immigrant group with a strong entrepreneurial tradition; self-employed Turks in Germany represent about 70% of all Turkish entrepreneurs in the...