| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19680 |
| 来源ID | Working Paper 19680 |
| Housing Collateral and Entrepreneurship | |
| Martin C. Schmalz; David A. Sraer; David Thesmar | |
| 发表日期 | 2013-11-27 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | This paper shows that collateral constraints restrict entrepreneurial activity. Our empirical strategy uses variations in local house prices as shocks to the value of collateral available to individuals owning a house and controls for local demand shocks by comparing entrepreneurial activity of homeowners and renters operating in the same region. We find that an increase in collateral value leads to a higher probability of becoming an entrepreneur. Conditional on entry, entrepreneurs with access to more valuable collateral create larger firms and more value added, and are more likely to survive, even in the long run. |
| 主题 | Financial Economics ; Corporate Finance |
| URL | https://www.nber.org/papers/w19680 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/577355 |
| 推荐引用方式 GB/T 7714 | Martin C. Schmalz,David A. Sraer,David Thesmar. Housing Collateral and Entrepreneurship. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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