| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10260 |
| 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 |
| URL | https://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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