We used confidential and restricted-access data from the Kauffman Firm Survey matched administrative on credit scores to explore racial disparities in access capital for new business ventures. The novel results inequality start-up financing indicate that Black-owned start-ups start smaller stay over entire first eight years of their existence. Black face more difficulty raising external capital...

We study capital misallocation within and across 10 African countries using the World Bank Enterprise Surveys. First, we compare the extent of misallocation among firms within countries. We document high variation in firms’ marginal product of capital (MPK), implying that countries could produce significantly more with the same aggregate capital stock if capital were allocated optimally. Such v...

Recently, there has been a shift in the way management scholars view the firm, from more traditional models that are based on ideas of opportunism and market failure (Williamson, 1975), to newer knowledge-based theories that argue for a more socialized perspective (Kogut & Zander, 1992). One of the key components of these theories is the notion of social capital. Social capital is the set of re...

This study investigated the role of social capital affinity (the sense of community and likeness felt for people online) and the experience of flow (concentrated engagement in/enjoyment of an activity) as antecedents to a variety of positive outcomes associated with the use of e-commerce sites. Also, based on socio-emotional selectivity theory, the current study assessed the influence of age on...

In this paper we discuss the potential role capital markets will play in health care restructuring. According to theory, agency costs, asymmetric information and strategic interactions cause the cost of capital for nonprofit entities to slope upward. Freestanding nonprofits are particularly disadvantaged in this regard. We conclude that some organizational forms will be less viable due to probl...

Studying the relation between equity market liberalization and imports of capital goods, we examine one channel through which international financial integration can promote growth. For the period 1980-1997, we find that after controlling for other policies and fundamentals, stock market liberalizations are associated with a significant increase in the share of imports of machinery and equipmen...

This paper presents a study that was designed to examine efforts undertaken by two cities—Atlanta and LaGrange, Georgia—to redress the digital divide. Atlanta’s initiative has taken the form of community technology centers where citizens can come to get exposure to information technology and to learn something about computers and their applications. LaGrange has taken a very different approach,...

The purpose of the study was to identify and document technical knowledge and information gaps that can inform development of appropriate training programs for cane farmers. The study employed a survey research design; involving 105 small scale farmers in selected from eight Sub-counties of Kakamega County. Data was analyzed using both descriptive and inferential statistics. Pearson’s product m...

This paper examines how transnational gold mining operations are transforming rural household livelihoods in the Cajamarca region of Peru. In particular, this paper evaluates how Newmont Mining Corporation’s Minera Yanacocha (MYSA) mining operations are altering access to the produced, human, natural and social capital resources that households utilize to produce their livelihoods. The paper ar...

This paper assesses the quality of various micro level measures of social capital. It begins by examining a simple model of social capital accumulation in which households acquire social capital by devoting resources to forming relationships with other households. Through these relationships households acquire access to social resources which raises utility for any level of consumption. Tests o...