Through a path regression analysis of data from the Vermont Micro Business Development Program, this study examines the relationships between client characteristics, program activities, interim outcomes, and impacts, to understand factors that lead to and mediate client success in microenterprise development programs and as entrepreneurs. Statistics demonstrated excellent model fit to the data....

Purpose Despite the noticeable consequences of disruptive financial innovations, access to finance remains a major factor inhibiting sustainable-growth potentials young micro-entrepreneurs in informal settings. This study examines determinants financing options among Specifically, seeks establish whether credit history, income, asset, gender, awareness and network capability have effects on for...

Black-owned businesses tend to operate with less finance and employ fewer workers than those owned by Whites. Motivated a simple conceptual framework, we document these facts show they are causally connected using large firm-level surveys linked universal employer data from the Census Bureau. We find that racial financing gap is most pronounced at start-up tends narrow firm age. At any age, fir...

Governments around the world have begun to look to small-and medium-sized enterprises (SMEs) as sources of employment and economic growth for their domestic economies. However, neither public policy makers nor researchers have a solid understanding of which government policies are most likely to be most effective. We examined government policies towards entrepreneurship in three Latin American ...

We analyze the relationship between financial development and inter-industry resource allocation in the shortand long-run. We suggest that in the long-run, economies with high rates of financial development will devote relatively more resources to industries with a 'natural' reliance on outside finance due to a comparative advantage in these industries. By contrast, in the short-run we argue th...

How does prior firm-founding experience affect subsequent venture performance? In this study, I examine the effect of founders’ prior firm-founding experience on the survival rate and the annualized rate of return on investment in subsequent ventures. Estimates of this relationship take into account selection effect of serial entrepreneurs and two roles of venture capitalists (VCs): i) evaluati...

There is an implicit blindly bubble situation behind the interest and enthusiasm towards the Internet entrepreneurship, so it is necessary for entrepreneurs to make scientific and reasonable assessment about the possible risks before the related decisions made. This research embarks from the perspective of entrepreneurs and focus on the risk factors of entrepreneurship in Internet industry base...

This paper studies the interaction between monetary policy and asset prices using a simple general equilibrium model in which asset-price bubbles may form due to herd behavior in investment in a new technology whose productivity is uncertain. The economy is populated with one infinitely lived representative household and overlapping generations of finitely lived entrepreneurs. Entrepreneurs rec...