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https://hdl.handle.net/10419/18529
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Schäfer, Dorothea | en |
dc.contributor.author | Talavera, Oleksandr | en |
dc.date.accessioned | 2009-01-28T15:47:45Z | - |
dc.date.available | 2009-01-28T15:47:45Z | - |
dc.date.issued | 2006 | - |
dc.identifier.uri | http://hdl.handle.net/10419/18529 | - |
dc.description.abstract | In this paper we investigate whether small-scale businesses face financial constraints that affect their survival. We develop a model of moral hazard 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. We test this proposition using German Socio-Economic Panel (GSOEP) data, which cover the period 1984{2004. The release from financial constraints is measured by inheritance. 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 that switch from self-employment into wage employment. These results are consistent with hypothesis that financial frictions have a perceptible impact on bankruptcy among small business firms. | en |
dc.language.iso | eng | en |
dc.publisher | |aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlin | en |
dc.relation.ispartofseries | |aDIW Discussion Papers |x636 | en |
dc.subject.jel | G30 | en |
dc.subject.jel | J20 | en |
dc.subject.jel | L10 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Entrepreneurship | en |
dc.subject.keyword | survival | en |
dc.subject.keyword | financial constraints | en |
dc.title | Small-Scale Business Survival and Inheritance: Evidence from Germany | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 519891546 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:diw:diwwpp:dp636 | en |
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