In the present paper it will be pointed out with a panel data econometric model that taxation on entrepreneurship causes unemployment, but the impact of taxation is not equal among all countries. The estimation of the model is made feasible through the Eviews software package

This paper combines the theories on social capital and occupational choices to explain how social capital that saves on transaction costs and scale economies of skills in the production technology, determine the relative specialization between entrepreneurs-managers and markets in governing...

This paper provides a theoretical model for explaining the separation of ownership and control in firms. An entrepreneur hires a worker for providing eff ort to complete a project. The worker's eff ort determines the probability that the project is completed on time, but the worker receives...

We analyze how entrepreneurial opportunity cost conditions performance. Departing from the common practice of using survival as a measure of entrepreneurial performance, we model both failure and cash-out (liquidity event) as conditioned by the same underlying process. High-opportunity-cost...

In his Man, Economy, and State, Murray Rothbard introduces the catallactic function of decision-making owner, and the correspondent income of decision-making ability rent. These are supposed to exist both in ERE (they are, therefore, distinct from the capitalist function and his income, from...

What are the historical foundations of entrepreneurial market process theories? Within the marginal revolution, economists laid down rigorous microeconomic foundations for market analysis. While the Cambridge school and the Lausanne school attempted to provide a theoretical apparatus that would...

Why do so many high-priced acquisitions of entrepreneurial firms take place in network industries? We develop a theory of commercialization (entry or sale) in network industries showing that high equilibrium acquisition prices are driven by the incumbents' desire to prevent rivals from acquiring...

We develop an equilibrium model where risk-averse agents can choose between employment and entrepreneurship. An important property of our framework is that the effort of agents is not observable (moral hazard), so that optimal employment contracts must be incentive compatible. In equilibrium we...

The paper investigates whether the impact of regulations on entrepreneurship depends on corruption. We first test whether regulations robustly deter firm entry into the markets. Our results show that some regulations are indeed important determinants of entrepreneurial activity. Specifically,...

What do entrepreneurial opportunities look like? How do firms discover and exploit these opportunities to create value and sustain competitive advantage? This paper reviews the strategic management and entrepreneurship literatures to identify the nature and character of entrepreneurial...