Entrepreneurial Decisions and Liquidity Constraints
Using a matched sample of federal estate and personal income tax returns, we examine how the receipt of an inheritance affects an individual's decision to become an entrepreneur and the amount of capital employed in the new enterprise. These findings are consistent with the presence of liquidity constraints.
Volume (Year): 25 (1994)
Issue (Month): 2 (Summer)
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"What Makes A Young Entrepreneur?,"
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- Francine D. Blau & John W. Graham, 1990. "Black-White Differences in Wealth and Asset Composition," The Quarterly Journal of Economics, Oxford University Press, vol. 105(2), pages 321-339.
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- William G. Gale & John Karl Scholz, 1994. "Intergenerational Transfers and the Accumulation of Wealth," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 145-160, Fall.
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- James M. Poterba, 1989. "Venture Capital and Capital Gains Taxation," NBER Chapters,in: Tax Policy and the Economy, Volume 3, pages 47-68 National Bureau of Economic Research, Inc.
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- Bernard F. Lentz & David N. Laband, 1990. "Entrepreneurial Success and Occupational Inheritance among Proprietors," Canadian Journal of Economics, Canadian Economics Association, vol. 23(3), pages 563-579, August.
- Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June. Full references (including those not matched with items on IDEAS)
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