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Funding Self-Employment: The Role of Consumer Credit

This article investigates whether self-employed households use consumer loans - in particular, instalment loans and overdrafts - to finance business activities. Controlling for financial and nonfinancial household variables, we show that self-employed households particularly use personal overdrafts significantly more often than employee households. When analysing the correlation between consumer loan ...

Regional Entrepreneurial Opportunities in the Biotech Industry: Exploring the Transition from Award-Winning Nascent Entrepreneurs to Real Start-Ups

Knowledge of factors that determine the transition from nascent entrepreneurship to real entrepreneurship is of major importance for policies aiming to stimulate start-ups effectively. Scholars have concentrated mainly on person-specific factors to explain transition probabilities, and environmental characteristics have been relatively neglected. Given that entrepreneurship is a strongly localized ...

Start-up Competitions as an Instrument of Entrepreneurship Policy: The German Experience

The number of aspiring entrepreneurs in high-tech industries who successfully complete the transition from a nascent start-up project towards an operational new venture is comparatively low in Germany. Since the mid-1990s, policy-makers have initiated numerous start-up competitions (SUCs or business plan competitions) to facilitate this important step in the venture creation process. SUCs have two ...

Daten für die epidemiologische Altersforschung: Möglichkeiten und Grenzen vorhandener Datensätze ; Ergebnisse des 2. Workshops der Arbeitsgruppe Epidemiologie des Alterns der Deutschen Gesellschaft für Epidemiologie (DGEpi)

An Early Warning System to Predict Speculative House Price Bubbles

In this paper, the authors construct country-specific chronologies of the house price bubbles for 12 OECD countries over the period 1969:Q1-2009:Q4. These chronologies are obtained using a combination of a fundamental approach and a filter approach. The resulting speculative bubble chronology is the one which provides the highest concordance between these two techniques. In addition, the authors suggest ...

Need for Conclusive Evidence that Positive and Negative Reciprocity Are Unrelated

Partnership Longevity and Personality Congruence in Couples

Evidence of assortative mating according to personality was reported in a previous SOEP-based study (Rammstedt & Schupp, 2008). Based on population representative data of almost 7000 couples, high levels of congruence between spouses were found, which increased with marriage duration. Almost 5000 of these couples were tracked over a five-year period with personality assessed at the beginning and end ...

Asset Prices, News Shocks, and the Trade Balance

We analyze the relationship between asset prices and the trade balance estimating a Bayesian VAR for a broad set of 38 industrialized and emerging market countries. To derive model-based identifying restrictions, we model asset price shocks as news shocks about future productivity in a two-country dynamic stochastic general equilibrium model. Such shocks are found to exert sizable effects on the trade ...

Stability and Change in Affective Experience across the Adult Life Span: Analyses with a National Sample from Germany

Using cross-sectional and longitudinal data from a national sample spanning the adult life span, age differences in anger and sadness were explored. The cross-sectional and longitudinal findings consistently suggest that the frequency of anger increases during young adulthood, but then shows a steady decrease until old age. By contrast, the frequency of sadness remains stable over most of adulthood ...

Investor Protection and the Value of Shares: Evidence from Statutory Rules Governing Variations of Shareholders' Class Rights in an Emerging Market

This article uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of nonvoting shareholders to veto unfavorable changes to their class rights. We take advantage of the presence of well-defined treatment and control groups and use the voting premium, ...