Surveys of current and potential entrepreneurs suggest that obtaining adequate access to
capital is one of the biggest hurdles to starting and growing a new business. Given the …

This paper is a survey of recent empirical work on financial constraints faced by firms. It is
organized as a series of stylized results which mirror what is generally understood about the …

A country's institutional framework plays a crucial role in promoting entrepreneurship, which
drives economic growth. Encouraging a minimum level of certainty in ambiguous …

This paper constructs and calibrates a parsimonious model of occupational choice that
allows for entrepreneurial entry, exit, and investment decisions in the presence of borrowing …

This paper serves as an introduction to the special issue of Entrepreneurship Theory and
Practice on government policy and entrepreneurial activity. Entrepreneurship is an important …

Does wealth beget wealth and entrepreneurship, or is entrepreneurship mainly determined
by an individual's ability? A large literature studies the relationship between wealth and …

This study examines how state subsidies to firms affect corporate investment efficiency.
Using archival data from a sample of Chinese listed firms over the 2007–2015 period, we …

Consistent with the prevailing socio-political ideology of China, the Chinese government
offers financial assistance to firms, including many listed companies. Government subsidies …

This paper studies the estate tax in a quantitative framework with business investment,
borrowing constraints, estate transmission, and wealth inequality. We find that the estate tax …

Public schemes aiming at facilitating small and medium-sized enterprises (SMEs) and
young firms' access to external finance are pervasive around the world. While these …