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Persistent link: https://www.econbiz.de/10003229546
An introduction to the concept ofentrepreneurship capital is provided, with an emphasis on its influence onregional economic performance. Entrepreneurship capital is defined as thecapacity of a society to produce new firms. It involves creative individualsneeded to create new firms, a regional...
Persistent link: https://www.econbiz.de/10014201308
Persistent link: https://www.econbiz.de/10002490587
This paper examines the link between liquidity constraints and investment behavior for German firms of different sizes from 1970 to 1986. Results indicate that medium sized firms appear to be more liquidity constrained in their investment behavior than either the smallest or largest firms in the...
Persistent link: https://www.econbiz.de/10010295599
The neoclassical model of the production function, as applied by Robert Solow to build the neoclassical model of growth, linked labor and capital to output. More recently, Romer and others have expanded the model to include measures of knowledge capital. In this paper we introduce a new factor,...
Persistent link: https://www.econbiz.de/10010297675
This Paper links the performance of new technology firms, measured in terms of growth, to geographic location. We introduce a model of firm growth that is specific to characteristics of the location as well as the firm and industry. The model is estimated using a new dataset identifying the...
Persistent link: https://www.econbiz.de/10010332758
In this paper we investigate the determinants of entrepreneurial activity in a cross section of German regions for the period 1998-2005. Departing from the knowledge spillover theory of entrepreneurship, the focus of our analysis is on the role of the regional environment and, in particular,...
Persistent link: https://www.econbiz.de/10010332765
Whereas initially physical capital and later, knowledge capital were viewed as crucial for growth, more recently a very different factor, entrepreneurship capital, has emerged as a dri-ving force of economic growth. In this paper, we define a region's capacity to create new firms start-ups as...
Persistent link: https://www.econbiz.de/10010263827
An important literature has made a fundamental link between corporate governance and corporate strategy. According to agency theory, assigning managers stock options aligns their interests with the interests of the owners of the firm. This paper suggests that this may not apply in the context of...
Persistent link: https://www.econbiz.de/10010263845
Marshall's student Pigou noted: It's all in Marshall. From a static point of view, this seems rather bold in a constantly changing world. However, this statement becomes more plausible in a dynamic context, where principles are subject to change. Indeed, over time, Marshall's concept of external...
Persistent link: https://www.econbiz.de/10010264206