Schäfer, Dorothea and Talavera, Oleksandr (2009) Small business survival and inheritance: evidence from Germany. Small Business Economics, 32. pp. 95-109.
Full text not available from this repository.Abstract
This paper investigates whether small businesses face financial constraints that affect their survival. A model of moral hazard is developed in which financial constraints arise endogenously. The model predicts that higher private assets relax financial constraints and have a positive effect on the firm’s probability of survival. The empirical analysis confirms that the entrepreneur has a higher propensity to stay in business when she inherits capital. This effect is particularly strong for entrepreneurs who switch from self-employment into wage employment.
Item Type: | Article |
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Uncontrolled Keywords: | entrepreneurship,survival,financial constraints |
Faculty \ School: | Faculty of Social Sciences > School of Economics |
Depositing User: | Gina Neff |
Date Deposited: | 16 Nov 2010 16:00 |
Last Modified: | 16 Jan 2023 10:30 |
URI: | https://ueaeprints.uea.ac.uk/id/eprint/10915 |
DOI: | 10.1007/s11187-007-9069-7 |
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