Fostering and supporting start-up businesses by unemployed persons has become anincreasingly important issue in many European countries. These new ventures are beingsupported by various governmental programs. Potential benefits include not only the end ofunemployment for the new entrepreneur but...

Turning unemployment into self-employment has become a major focus of German activelabour market policy (ALMP) in recent years. If effective, this would not only reduceGermany’s persistently high unemployment rate, but also increase its notoriously low selfemploymentrate. Empirical evidence on...

The influence of risk aversion on the decision to become self-employed is a much discussedtopic in the entrepreneurial literature. Conventional wisdom asserts that the role model of anentrepreneur requires to make risky decisions in uncertain environments and hence thatmore risk-averse...