G2TT
来源类型Discussion paper
规范类型论文
来源IDDP10260
DP10260 Financing Constraints, Home Equity and Selection into Entrepreneurship
Ramana Nanda
发表日期2014-11-23
出版年2014
语种英语
摘要We exploit a mortgage reform that differentially unlocked home equity across the Danish population and study how this impacted selection into entrepreneurship. We find that increased entry was concentrated among entrepreneurs whose firms were founded in industries where they had no prior work experience. In addition, we find that marginal entrants beneting from the reform had higher pre-entry earnings and that a significant share of entrants started longer-lasting firms. Our results are most consistent with the view that housing collateral enabled high ability individuals with less-well-established track records to overcome credit rationing and start new firms, rather than just leading to `frivolous entry' by those without prior industry experience.
主题Public Economics
关键词entrepreneurship Credit constraints Mortgage finance Household wealth
URLhttps://cepr.org/publications/dp10260
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/539093
推荐引用方式
GB/T 7714
Ramana Nanda. DP10260 Financing Constraints, Home Equity and Selection into Entrepreneurship. 2014.
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