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Using unpublished time‐series data for three specific age/gender groups, we first determine the percentage of female employment to total employment for nine sectors of the U.S. economy. Second, we estimate the cyclical change in hours of employment for each age/gender group within each sector. Third, we estimate the cyclical behavior of the nominal wage for each sectoral gender group. The paper’s evidence does not support, in general, a more cyclical response of female hours worked in the service‐producing sectors that are dominated by women. We find partial evidence that hours worked by men are more cyclical compared with hours worked by women in the male‐dominated goods‐producing sectors. Given the evidence of no pronounced difference in the cyclical behavior of hours and wages for men and women, the business cycle is gender‐neutral.That is, the elastic female labor supply is washed out over the business cycle across major sectors of the U.S. Economy. Observational evidence suggests supply‐side and structural factors in the economy have attenuated the business cycle, especially in the service‐producing sectors.

The IT sector lost both workers and output following the dot‐com crash of 2000. Despite this loss of employment and earnings, information technology has become a more ubiquitous part of commerce and daily activities. This division between observed use of IT and industry growth is due both to the changing nature of IT investment towards emerging media and the changes in the structure of occupational deployment within firms. This paper describes the type and growth of emerging media with particular emphasis on growth of interactivity applications. This is followed by a description of occupational and skill shifts within traditional firms and the IT sector. We conclude that growth in emerging media occupations and skills represent a significant change in the labor force composition of both IT and traditional firms. The IT sector may be stagnant, but workers who deploy and employ IT related (primarily emerging media) applications is rising. Finally, we trace the value chain of emerging media and outline how it may affect the geography of new firm development.

The purpose of this study is the detection and comparison of distinctive features of Gazelle firms (GFs) at three stages evolution outside the typical boundaries.

The study uses Analysis of Variance and logistic regression to tests the performance of 2427 gazelles for (GFs) a five-year period (2015–2020).

The study found that GFs prediction probability is low. In their second and third stages of evolution (initial growth and continuing growth), the gazelle growth effects appear. They are more effective in terms of profitability and turnover due to increasing sales and size.

This study shows that stakeholders should give preference to GFs that demonstrate long-term (steady) growth. Such firms are more efficient and financially stable than firms with high short-term growth.

The present study identifies patterns in the generation and development of GFs in high-tech industries outside the typical boundaries.

This paper aims to explain the fundraising and valuation processes of startups and discuss the conflicts of interest between entrepreneurs, venture capital (VC) firms and stakeholders in the context of startup corporate governance. Further, this paper uses the examples of WeWork and Zenefits to explain how a failure of stakeholders to demand an external audit from an independent accounting firm in early stages of funding led to an opportunity for fraud.

The methodology used is a literature review and analysis of startup valuation combined with the Fraud Triangle Theory. This paper also provides a discussion of WeWork and Zenefits, both highly visible examples of startup fraud, and explores an increased role for independent external auditors in fraud risk mitigation on behalf of stakeholders prior to an initial public offering (IPO).

This paper documents a number of fraud risks posed by the “fake it till you make it” ethos and investor behavior and pricing in the world of entrepreneurial finance and VC, which could be mitigated by a greater awareness of startup stakeholders of the value of an external audit performed by an independent accounting firm prior to an IPO.

An implication of this paper is that regulators should consider greater oversight of the startup financing process and potentially take steps to facilitate greater independence of participants in the IPO process.

Given the potential conflicts of interest between VC firms, investment banks and startup founders, the investors at the time of an IPO may be exposed to the risk that the shares of the IPO firms are overvalued at offering.

This study demonstrates how startup practices can be extended to the Fraud Triangle and issue a call to action for the accounting profession to take a greater role in protecting the public from startup fraud. This study then offers recommendations for regulators and standards entities.

There are few academic papers in the financial crime literature that link the valuation and culture of startup firms with fraud risk. This study provides a concise explanation of the process of valuation for startups and highlights the considerations for stakeholders in assessing fraud risk. In addition, this study documents an emerging role for auditors as stewards of proper valuation for pre-IPO firms.

This paper examines the relationship between government economic development programming and entrepreneurial activity, by examining evidence in Southern California cities. While numerous studies explore this relationship between government institutions and entrepreneurship at the level of countries and states, significant questions remain at the level of city government, and the influence of local government economic development programs on city-level entrepreneurial activity.

This paper uses regression analysis of data from all 215 Southern California cities to decompose the complex relationships between economic development programming and different types of entrepreneurial activity.

Results suggest startups are attracted to cities with higher crime rates, more diversity, and older populations, yet not those with higher levels of economic development programming. There is evidence that some types of economic development programming may influence entrepreneurship, especially for the level of minority-owned businesses.

The paper makes three important contributions to the literature. First, it is among the first to use local (city-level) entrepreneurship as an outcome variable to measure the effect of government economic development programming. Many scholars have instead chosen to look at outcomes relating to general economic growth (e.g. new jobs) rather than outcomes specific to local entrepreneurship. Second, it explores city-wide entrepreneurial activity with respect to numerous measures, such as start-ups, minority and female ownership, and self-employment. Third, it examines the potential influence of economic development programming, both on aggregate and decomposed into economic development program clusters.

The current paper extends previous studies on the match between CEO and firm and explores whether certain characteristics of young CEOs make them more desirable to young firms. Results in this paper will provide useful information to startup companies when they need to find managers leading the firms.

This study use a large sample of panel regression to study the match between CEOs and firm via a difference-in-differences approach.

The author finds that young firms hire a disproportionately higher percentage of young CEOs than established firms. Young firms led by young CEOs exhibit higher growth rates in sales and assets and invest more in capital expenditure and R&D activities than similar firms led by older CEOs. Young CEOs in young firms also receive higher compensation than both older CEOs working in young firms and young CEOs working in established firms.

There are many studies examining how CEO age affect their decision-making process. There are also many studies examining the differences between young firms and established firms. However, there is no study so far examining the intersection of the two questions above. Specifically, whether the differences between young vs established firms make certain characteristics of young CEOs beneficial to young firms.

There is a large literature about crisis entrepreneurship, spanning from necessity, natural disaster and long-term conflict entrepreneurship. This paper situates pandemic entrepreneurship as a unique form of crisis entrepreneurship.

The authors utilize the Kirznerian and Schumpeterian theories of entrepreneurship to understand pandemic entrepreneurship. Using evidence from the US COVID-19 pandemic, the authors argue that pandemics impact both the “identification” and “action” moments of entrepreneurship.

The Kirznerian identification moment becomes much more uncertain for entrepreneurs because of fluctuating conditions, such as public health conditions, new potential variants of the virus causing the pandemic, shifting government mandates and rules and so forth. The Schumpeterian action moment becomes more challenging because of the necessity of physical distancing and because, generally, all crises raise the cost of entrepreneurial action. That said, the authors still document considerable entrepreneurship during pandemics as entrepreneurs adapt to the increased uncertainty and costs by rely upon local and customary knowledge.

This research finds that entrepreneurs, depending upon the crisis, face differing constraints. Specifically in times of pandemic, entrepreneurs face difficulty recognizing opportunities because of shifting conditions and acting upon opportunities because of financial and political constraints. This research thus implies that there are large opportunities for alleviation of such constraints if there were to be future variants or pandemics.

Practically speaking, this research affects how people study entrepreneurship. By recognizing the differing constraints that pandemic entrepreneurs face, the authors can better understand the last several years, and can also prepare better policy wise for future pandemics or further variants of COVID-19.

Socially, entrepreneurship can be a large factor in recovery from disasters and crises. By recognizing and perhaps alleviating constraints that pandemic entrepreneurs face, future crises could have better responses and recoveries.

Although several studies have examined entrepreneurship during the COVID-19 pandemic, the extant literature on pandemic entrepreneurship remains relatively underdeveloped and has not yet focused on what distinguishes pandemic entrepreneurship from other forms of crisis entrepreneurship. The authors highlight what pandemic entrepreneurship has in common with other forms of crisis entrepreneurship and pinpoint the various ways that is distinct.

Applied research shows higher wages are associated with lower mobility at the establishment level. A usual interpretation is that high pay decreases labour turnover. The purpose of this paper is to test if such relationship holds for every type of worker in every type of firm.

The analysis is based on a linked employer-employee panel dataset covering the French private sector from 2002 to 2005. The authors compute establishment wage effects and use them as explanatory variables in labour mobility equations (for churning rate and quit rate). Using spline regression models enables to investigate for potential non-linearities.

The authors show that the relationship between churning rate and wage is non-linear and has the shape of an inverted J: the relation is negative and intense for establishments with low wage effect, weaker for average paying establishments and even becomes positive for very high-paying ones. This is true whatever the skill group of workers. It is also true for large establishments while the relationship is still negative but linear for small ones. The relationship between wages and quit rates has a strikingly similar pattern. This suggests that the link between churning and establishment wage effect is strongly related to quit decisions.

A possible interpretation of our results is that paying higher wages may be an effective stabilizing tool especially for employers in small establishments and when starting wages are relatively low.

The paper is the first to decompose the relationship between wage and mobility. It shows the relationship differs across establishment size and is not linear. The paper also shows quits play a role in this relationship.

The purpose of this paper is to investigate the micro determinants of the extent of credit rationing experienced by small and medium-sized enterprises (SMEs) in Ghana.

The study adopted the direct approach to investigating the presence of credit rationing. This involves the use of surveys permitting loan applicants to report on their credit market experiences. The multinomial logistic regression model was then applied to the survey data to arrive at the findings reported.

The study amongst other things confirms the existence of credit rationing in the SME sector. It also revealed that the extent to which SMEs are rationed varies and these variations are determined by the characteristic of the SME owner and the characteristics of the business.

The use of the survey method in investigating credit rationing could introduce some biases in the responses obtained. However, the lack of publicly available data did not permit the use of the indirect method which is based on the testing for possible violation of the permanent income hypothesis. Despite its weakness, the survey method remains the more realistic approach to investigating credit constraints especially in the data-constrained developing countries. The design and piloting of the questionnaire as well as the use a large sample size all went a long way to reduce any possible biases in the responses.

Despite the fact that a number of studies exist on SME financing problem in Ghana, available studies present the problem as if it were the same for all SMEs. Even though there is evidence to suggest that SMEs may be rationed in the credit market to different extents, currently, there are no known studies that have empirically investigated the various degrees of rationing and factors that determine the extent to which SMEs may be credit rationed. This paper thus attempts to contribute to the literature by unearthing these factors.

Up to date, it remains an unresolved issue how firms shape inequality in interaction with mechanisms of stratification at the individual and occupational-level. Accordingly, the authors ask whether workers of different occupational classes are affected to different degrees by between-firm wage inequality. In light of the recent rise of overall wage inequality, answers to this question can contribute to a better understanding of the role firms play in this development. The authors argue and empirically test that whether workers are able to benefit from firms’ internal or external strategies for flexibility depends on resources available at the individual and occupational level. The paper aims to discuss these issues.

Matched employer-employee data from official German labour market statistics are used to estimate firm-specific wage components, which are then regressed on structural characteristics of firms.

Between-firm wage effects of internal labour markets are largest among unskilled workers and strongly pronounced among qualified manual workers. Effects are clearly smaller among classes of qualified and high-qualified non-manual workers but have risen sharply for the latter class from 2005 to 2010.

The most disadvantaged workers in the labour market are also most contingent upon employers’ increasingly heterogeneous policies of recruitment and remuneration.

This paper combines insights from sociological and economic labour market research in order to formulate and test the new hypothesis that between-firm wage effects of internal labour markets are larger for unskilled than for qualified workers.