Which entrepreneurs are financially constrained?
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10362/143361 |
Resumo: | We study what type of entrepreneurs are a ected by financial constraints by exploiting age-based discontinuities in the amount of funding available through a public program for unemployed workers. Our sample links administrative data on 2.1 million eligible workers to the firms they create, spanning a wide range of skills, sectors and outcomes. We find that access to funding increases the rate of entrepreneurship and that the e ect is stronger for entrepreneurs who incorporate their business, especially for those who were in the top decile of the wage distribution before unemployment. Among incorporated entrepreneurs, the effect is strongest in the information and communication sector, followed by manufacturing. In terms of ex-post outcomes, we find that the effect is more pronounced for businesses in the upper half of the size, growth and profitability distributions. Our findings suggest that financial constraints hamper growth-oriented entrepreneurship. |
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Which entrepreneurs are financially constrained?EntrepreneurshipUnemployment insuranceFinancial constraintsIncorporated firmsWe study what type of entrepreneurs are a ected by financial constraints by exploiting age-based discontinuities in the amount of funding available through a public program for unemployed workers. Our sample links administrative data on 2.1 million eligible workers to the firms they create, spanning a wide range of skills, sectors and outcomes. We find that access to funding increases the rate of entrepreneurship and that the e ect is stronger for entrepreneurs who incorporate their business, especially for those who were in the top decile of the wage distribution before unemployment. Among incorporated entrepreneurs, the effect is strongest in the information and communication sector, followed by manufacturing. In terms of ex-post outcomes, we find that the effect is more pronounced for businesses in the upper half of the size, growth and profitability distributions. Our findings suggest that financial constraints hamper growth-oriented entrepreneurship.Nova School of Business and EconomicsRUNFerreira, Miguel A.Lopes, Marta C.Queiró, FranciscoReis, Hugo2022-08-30T16:54:44Z2021-01-082021-01-08T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10362/143361engFerreira, Miguel, Lopes, Marta C., Queiró, Francisco, Reis, Hugo. Which entrepreneurs are financially constrained?. (January 2021) Nova SBE Working Paper Series No. 647info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T05:21:40Zoai:run.unl.pt:10362/143361Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:50:54.187032Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Which entrepreneurs are financially constrained? |
title |
Which entrepreneurs are financially constrained? |
spellingShingle |
Which entrepreneurs are financially constrained? Ferreira, Miguel A. Entrepreneurship Unemployment insurance Financial constraints Incorporated firms |
title_short |
Which entrepreneurs are financially constrained? |
title_full |
Which entrepreneurs are financially constrained? |
title_fullStr |
Which entrepreneurs are financially constrained? |
title_full_unstemmed |
Which entrepreneurs are financially constrained? |
title_sort |
Which entrepreneurs are financially constrained? |
author |
Ferreira, Miguel A. |
author_facet |
Ferreira, Miguel A. Lopes, Marta C. Queiró, Francisco Reis, Hugo |
author_role |
author |
author2 |
Lopes, Marta C. Queiró, Francisco Reis, Hugo |
author2_role |
author author author |
dc.contributor.none.fl_str_mv |
RUN |
dc.contributor.author.fl_str_mv |
Ferreira, Miguel A. Lopes, Marta C. Queiró, Francisco Reis, Hugo |
dc.subject.por.fl_str_mv |
Entrepreneurship Unemployment insurance Financial constraints Incorporated firms |
topic |
Entrepreneurship Unemployment insurance Financial constraints Incorporated firms |
description |
We study what type of entrepreneurs are a ected by financial constraints by exploiting age-based discontinuities in the amount of funding available through a public program for unemployed workers. Our sample links administrative data on 2.1 million eligible workers to the firms they create, spanning a wide range of skills, sectors and outcomes. We find that access to funding increases the rate of entrepreneurship and that the e ect is stronger for entrepreneurs who incorporate their business, especially for those who were in the top decile of the wage distribution before unemployment. Among incorporated entrepreneurs, the effect is strongest in the information and communication sector, followed by manufacturing. In terms of ex-post outcomes, we find that the effect is more pronounced for businesses in the upper half of the size, growth and profitability distributions. Our findings suggest that financial constraints hamper growth-oriented entrepreneurship. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-01-08 2021-01-08T00:00:00Z 2022-08-30T16:54:44Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10362/143361 |
url |
http://hdl.handle.net/10362/143361 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Ferreira, Miguel, Lopes, Marta C., Queiró, Francisco, Reis, Hugo. Which entrepreneurs are financially constrained?. (January 2021) Nova SBE Working Paper Series No. 647 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Nova School of Business and Economics |
publisher.none.fl_str_mv |
Nova School of Business and Economics |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
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RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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