| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20583 |
| 来源ID | Working Paper 20583 |
| Financing Constraints, Home Equity and Selection into Entrepreneurship | |
| Thais Lærkholm Jensen; Søren Leth-Petersen; Ramana Nanda | |
| 发表日期 | 2014-10-13 |
| 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 benefiting 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 | Microeconomics ; Households and Firms ; Market Structure and Distribution ; Financial Economics ; Financial Institutions ; Industrial Organization ; Firm Behavior |
| URL | https://www.nber.org/papers/w20583 |
| 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/578257 |
| 推荐引用方式 GB/T 7714 | Thais Lærkholm Jensen,Søren Leth-Petersen,Ramana Nanda. Financing Constraints, Home Equity and Selection into Entrepreneurship. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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