Recent research suggests that employment in young firms is more negatively impacted during economic downturns than employment in incumbent firms. This questions the effectiveness of policies that promote entrepreneurship to fight crises. We complement prior research that is mostly based on...

Business creation is economically important, and unemployment precedes the creation of a substantial share of new firms. Yet, most research has focused on analyzing the effects of unemployment insurance policies on re-employment outcomes, ignoring self-employment. In this paper, we analyze how...

Leasing ist für junge Unternehmen ein wichtiger Baustein zum Aufbau ihres Sachkapitalstocks und wird besonders in den Nachgründungsjahren intensiv genutzt. Vor allem im verarbeitenden Gewerbe werden Anschaffungen für die Anfangsausstattung im Gründungsjahr hingegen noch überwiegend als...

Recent research based on aggregate data suggests that employment in young firms is more negatively impacted during economic crises than employment in incumbent firms. Using firm-level data, we show that under constant human capital of the firms' founders, employment growth in less than 1...

We investigate whether appointing a middle management level affects startups' innovation performance. Additional hierarchical levels are often suspected to restrict innovative activities. However, founders' capacities for information processing and resource allocation are usually strongly...