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  1. Confidence is good, too much, not so much
    exploring the effects on reward-based crowdfunding success
    Author: Moy, Naomi; Chan, Ho Fai; Mathmann, Frank; Schaffner, Markus; Torgler, Benno
    Published: [2021]
    Publisher:  CREMA, Zürich

    Self-confidence has long been regarded as one of the key qualities in determining entrepreneurial success. In markets with uncertainty, like crowdfunding, entrepreneurial confidence is an important signal that lowers the information imbalance for... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 695
    Inter-library loan:
    No inter-library loan

     

    Self-confidence has long been regarded as one of the key qualities in determining entrepreneurial success. In markets with uncertainty, like crowdfunding, entrepreneurial confidence is an important signal that lowers the information imbalance for potential investors. However, current literature on confidence is limited in three ways; first is the limited understanding of confidence in interpersonal interactions; second is the accurate measurement of confidence and thirdly, limited insight on whether an optimal level of confidence exists. We use two novel behavioral approaches to measure self and exhibited confidence and examine their relation to entrepreneurial success in reward-based crowdfunding. Derived from ex-ante information (i.e., before realization of success), our measurements for confidence allow us to draw causal inferences, allowing for contributions to confidence and displays of interpersonal emotion literature. By analyzing over 70,000 Kickstarter projects, we show an optimal level of entrepreneurial confidence exists in determining funding received, popularity, and likelihood of success.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/234633
    Series: Working paper / CREMA, Center for Research in Economics, Management and the Arts ; no. 2021, 18
    Subjects: Behavioral; crowdfunding; entrepreneur; exhibiting confidence; interpersonal confidence; success
    Scope: 1 Online-Ressource (circa 41 Seiten), Illustrationen
  2. To be or not to be
    the entrepreneur in endogenous growth theory
    Author: Henrekson, Magnus; Johansson, Dan; Karlsson, Johan
    Published: [2021]
    Publisher:  Örebro University School of Business, Örebro, Sweden

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    Verlag (lizenzpflichtig)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 776
    Inter-library loan:
    No inter-library loan
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; 2021, 3
    Subjects: creative destruction; economic growth; entrepreneur; innovation; judgment; bibliometric analysis; Knightian uncertainty
    Scope: 1 Online-Ressource (circa 40 Seiten), Illustrationen
  3. Wealth inequality, uninsurable entrepreneurial risk and firms markup
    Author: Brien, Samuel
    Published: [2021]
    Publisher:  [Department of Economics, Queen's University], [Kingston, Ontario, Canada]

    This paper examines the effect of wealth concentration on firms' market power when firm entry is driven by entrepreneurs facing uninsurable idiosyncratic risks. Under greater wealth concentration, households in the lower end of the wealth... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 216
    Inter-library loan:
    No inter-library loan

     

    This paper examines the effect of wealth concentration on firms' market power when firm entry is driven by entrepreneurs facing uninsurable idiosyncratic risks. Under greater wealth concentration, households in the lower end of the wealth distribution are more risk averse and less willing (or able) to bear the risk of entrepreneurial activities. This has implications for firm entry, competitiveness, and market power. I calibrate a Schumpeterian model of endogenous growth with heterogeneous risk averse entrepreneurs competing to catch up with firms. This model is unique in that both household wealth distribution and a measure of firm markup are endogenously determined on a balanced growth path. I find that a spread in the wealth distribution decreases entrepreneurial firm creation, resulting in greater aggregate firm market power. This result is supported by time series evidence obtained from the estimation of a structural panel VAR with OECD data from eight countries.

     
    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/260482
    Series: [Queen's Economics Department working paper] ; [no. 1476]
    Subjects: Wealth inequality; market power; growth; Schumpeterian; endogenous growth; entrepreneur
    Scope: 1 Online-Ressource (circa 59 Seiten), Illustrationen