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This paper aims to hypothesize on the relationship between the Millennial workforce and US firms’ response to the Tax Cuts and Jobs Act (TCJA) of 2017. The authors postulate that societal pressure from the younger generational cohorts will motivate socially cognizant corporations to share their newly acquired tax benefits with their workforce to attract, retain and inspire employee productivity and retention, as well as customer loyalty.

The authors empirically examine work-related cultural attitudes of the Millennial generational cohort in the USA, and by exploring related literature on organizational management and supply side economics, the authors aim to connect them to firms’ response to tax cut windfall in a simple theoretical model. The authors complement their methods by using descriptive statistics on firm tax responses that followed the 2017 TCJA.

The authors offer support for the notion that companies are behaving rationally by providing short-term benefits to employees when employees are, on average, younger. The competitive nature of the global market acts as an incentive to avoid permanent obligations such as wage and benefits increases. The data reveal that a significant number of companies had a transitory reaction to the latest tax cut.

The authors encourage future research, once sufficient time elapses, to exploit the time periods before and after the tax cut to provide a better assessment of the empirical impact of the 2017 tax cut on firm responses, conditional on workforce makeup.

The authors examine whether and how the Millennial cohort might shape firm behavior following changes in tax policy.

The purpose of this paper is to empirically uncover the relationship between economic integration and levels of entrepreneurial activity across 24 EU countries between 2004 and 2012. The deepening of EU integration corresponds to increases in the size and competitiveness of domestic markets as member states reorient economic activity toward the larger, competitive single market. Spillovers of both economic and political dimensions of integration in the common market on micro firm and self-employment are considered. The paper contributes to the understanding of the hypothesized relationship between globalization and the rise of entrepreneurial economy.

The paper uses fixed effects linear regression models to estimate the marginal effects of economic integration on entrepreneurial activity. Several dependent variables and controls for social, economics, and institutional context are used to confirm the robustness of the results.

The paper finds that increased economic activity of member countries within the EU common market, as well as institutional compliance and integration in the European Monetary Union and Schengen Agreement are positively and significantly associated with the rise of entrepreneurship. Notably, it is found that a standard deviation increase in economic and political integration is associated with, respectively, 16 and 7.2 percent increase in micro firm density. Some preliminary evidence on the quality of the arising entrepreneurial activity are also given.

The paper takes stock of existing descriptive and theoretical literature on global economic integration and entrepreneurship to uncover, for the first time, the empirical relationship between entrepreneurship and levels of economic and political integration within the EU bloc.