Research shows that most ventures fail, yet it has devoted limited attention to the consequences of entrepreneurs' past …. Therefore, failure conveys ambiguous information about skill. We predict that investors will discount entrepreneurs that … of failure into luck and skill. Our results indicate that investors discount entrepreneurs who have experienced failure …

I develop a dynamic model of forward-looking entrepreneurs, who decide whether to operate in the formal economy or …

search model and empirical analysis of survey of entrepreneurs from Swaziland. The results show that entrepreneurs of both … entrepreneurs, formal finance sources of start-up capital are also associated with higher sales. However, as in other developing … countries, women entrepreneurs in Swaziland have smaller start-up capital and are less likely to fund it from formal sources …

Limited access of entrepreneurs to credit constrains the creation and growth of private firms. In Africa, access to … entrepreneurs with productive technologies, while firm growth depends on acquired capital. The shortage of collateral creates a …

shaped by industry-specific constraints. The human- and financial-capital endowments of potential entrepreneurs entering … credentials of highly educated potential entrepreneurs, in particular, predict avoidance of small-firm ownership in some …