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The empirical finding that entrepreneurs invest a large share of their wealth in their own firms, despite comparably low returns and high risk, has become known as the private equity premium puzzle. This paper provides evidence supporting the hypothesis that lower risk-aversion of entrepreneurs, and thus not necessarily credit constraints, may explain this puzzle. The analysis is based on a representative ...
In:
Economica
78 (2011), 312, 656-675
| Frank M. Fossen
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Why are female entrepreneurs so rare? In Germany, women exhibit both a lower entry rate into and higher exit rate from self-employment. To explain this gender gap, this study estimates a structural microeconometric model of transition rates that includes a standard risk aversion parameter. Inputs into the model are the expected value and variance of earnings from self-employment and dependent employment, ...
In:
Applied Economics
44 (2012), 14, 1795-1812
| Frank M. Fossen
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Why do people engage in entrepreneurship and commit large parts of their personal wealth to their business, despite comparably low returns and high risk? This paper connects several streams of literature to shed some light on this puzzle and suggests possible future research avenues. Key insights from the literature are that entrepreneurs may operate in imperfect financial markets and that entrepreneurs ...
In:
Douglas Cumming ,
The Oxford Handbook of Entrepreneurial Finance
New York: Oxford University Press
109-132
| Frank M. Fossen
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In:
Richard Hauser, Irene Becker ,
The Personal Distribution of Income in an International Perspective
Berlin et al.: Springer
176-204
| Joachim R. Frick, Felix Büchel, Peter Krause
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In:
Economic Bulletin
34 (1997), 2, 25-32
| Joachim R. Frick, Felix Buechel, Peter Krause, Gert G. Wagner
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Berlin:
DIW Berlin,
2011,
(DIW Berlin Data Documentation 61)
| Joachim R. Frick, Jan Goebel (eds.)
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This paper delivers new insights into the development of income inequality and regional stratification in Germany after unification using a new method for detecting social stratification by a decomposition of the GINI index which yields the obligatory between- and within-group components as well as an overlapping index for the different sup-populations. We find that East Germany is still a stratum ...
In:
Regional Studies
42 (2008), 4, 555-577
| Joachim R. Frick, Jan Goebel
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In:
Schmollers Jahrbuch
130 (2010), 3, 393-401
| Joachim R. Frick, Jan Goebel, Michaela Engelmann, Uta Rahmann
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In:
Sociological Methods & Research
34 (2006), 4, 427-468
| Joachim R. Frick, Jan Goebel, Edna Schechtman, Gert G. Wagner, Shlomo Yitzhaki
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This article deals with income advantages derived from owner occupied housing (Imputed Rent, IR) and their impact on the personal income distribution. Following a brief description of different methods with which to calculate IR in household surveys, we conduct a cross-national comparative study based on micro-data from the British Household Panel Study (BHPS), the German Socio- Economic Panel (SOEP), ...
Berlin:
DIW Berlin,
2002,
(Discussion Papers No. 271)
| Joachim R. Frick, Markus M. Grabka