Empirical studies show that the pecuniary returns to an individual's decision to switch from wage employment to entrepreneurship are low. We reconsider the pecuniary gains from this transition using a unified and flexible approach based on a mixed model with heterogeneous returns to...

Are investments by new firms constrained by access to financing? If so, are the constraints persistent or do firms overcome their financing problems during the first years of operation? We examine the role of capital constraints by estimating the relation between founders’ initial wealth and...

The underrepresentation of women in entrepreneurship is consistent over cultures and countries, and is even higher in Norway than in most other industrialised societies. In spite of a growing literature, the reasons for this pattern are still not well understood. In this paper I explore an area...