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This paper offers an account of the occupational choice among wage work, self-employment and entrepreneurship which contrasts with the "Knightian" one based on risk attitudes. As shown by example, the latter can lead to perverse results. We propose a model in which imperfect capital markets arising from costly output verification cause the cost of ...
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Product market competition and the cost of equity capital
Journal of Business Research, 2021Yongjia Lin, Xiaoou Yu, Xinming Liu
exaly
The capital market reaction to Central Environmental Protection Inspection: Evidence from China
Journal of Cleaner Production, 2021Huixiang Zeng, Qiong Zhou
exaly
Capital market opening and corporate environmental performance: Empirical evidence from China
Finance Research Letters, 2023Rongwu Zhang, Wenqiang Fu, Tong Lu
exaly
The Commons with Capital Markets
We explore a dynamic commons problem and assess the welfare consequences of access to capital markets. The commons has a high intrinsic rate of return but its fruits cannot be secured by individual agents. Capital market access allows resources to be held securely and intertemporally transferred, but at a lower rate of return. In a two period model, weopenaire
Impact of Capital Regulation and Market Discipline on Capital Ratio Selection: A Cross Country Study
International Journal of Financial Studies, 2020Ahmed Imran Hunjra +2 more
exaly
Does political capital create value in the IPO market? Evidence from China
Journal of Corporate Finance, 2013Qigui Liu +2 more
exaly

