Entrepreneurial risk, investment and innovation

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Caggese, Andrea. Entrepreneurial risk, investment and innovation. 2006
To cite or link this document: http://hdl.handle.net/10230/699
dc.contributor.author Caggese, Andrea
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.issued 2006-12-01
dc.identifier.uri http://hdl.handle.net/10230/699
dc.description.abstract In this paper I develop a general equilibrium model with risk averse entrepreneurial firms and with public firms. The model predicts that an increase in uncertainty reduces the propensity of entrepreneurial firms to innovate, while it does not affect the propensity of public firms to innovate. Furthermore, it predicts that the negative effect of uncertainty on innovation is stronger for the less diversified entrepreneurial firms, and is stronger in the absence of financing frictions in the economy. In the second part of the paper I test these predictions on a dataset of small and medium Italian manufacturing firms.
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 1011
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title Entrepreneurial risk, investment and innovation
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2016-06-04T02:50:59Z
dc.subject.keyword Finance and Accounting
dc.subject.keyword entrepreneurs
dc.subject.keyword entrepreneurship
dc.subject.keyword innovation
dc.subject.keyword idiosyncratic risk
dc.subject.keyword uncertainty
dc.subject.keyword incomplete markets
dc.rights.accessRights info:eu-repo/semantics/openAccess

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