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Housing Collateral and Entrepreneurship
We show that collateral constraints restrict firm entry and postentry growth, using French administrative data and cross-sectional variation in local house-price appreciation as shocks to collateral values. We control for local demand shocks by comparing treated homeowners to controls in the same region that do not experience collateral shocks: renters and homeowners with an outstanding mortgage, who (in France) cannot take out a second mortgage. In both comparisons, an increase in collateral value leads to a higher probability of becoming an entrepreneur. Conditional on entry, treated entrepreneurs use more debt, start larger firms, and remain larger in the long run..Printed Journal
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| JOF 7201 | PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | The American Finance Association., |
|---|---|
| Edisi | - |
| Subjek | Entrepreneur homeowners collateral value |
| ISBN/ISSN | 221082 |
| Klasifikasi | - |
| Deskripsi Fisik | - |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |