This paper examines how entrepreneurs and incumbents differ in R&D strategies. We show that entrepreneurs have incentives to choose projects with higher risk and a higher potential in order to reduce expected commercialization costs. However, entrepreneurs may still select too safe projects from...

This paper investigates the variation in entrepreneurship across cities of the Commonwealth of Independent States during 1995-2008, utilising a unique dataset and employing the System Generalised Method of Moments technique. Our findings suggest that banking reform facilitates entrepreneurship,...

We investigate variation in entrepreneurial activity across 98 Eastern Neighbourhood cities. The aim of study is twofold: to bridge the city-level gap in empirical research on entrepreneurship in the Eastern Neighbourhood urban areas; to focus on urban heterogeneity in entrepreneurship unlike...

Aufgrund der geringen Eigenkapitalausstattung junger, innovativer und schnell wachsender Unternehmen und erheblicher Unsicherheiten hinsichtlich des Erfolgs der geplanten Investitionen scheidet eine Finanzierung mittels Fremdkapital oftmals aus oder erfolgt nicht in dem Umfang, den die...