大陆成人直播

Serial Entrepreneurship in China

主讲人：Kjetil Storesletten, University of Minnesota

时间：2022年4月8日 10:00-11:30

地点：加入 Zoom会议

//us02web.zoom.us/j/89585685610?pwd=STQvaGxyS1ZUWHlYNW1yK3pBTjBudz09

会议号：895 8568 5610

密码：266275

摘要：Drawing on data on the universe of all firms in China, we document key facts about serial entrepreneurship in China since the early 1990s and develop a theory of entrepreneurship driven by endowments, ability, and capital market frictions. We also examine determinants of the sectoral choice for serial entrepreneurs' second firms. Quantitatively, serial entrepreneurs are more productive, raise more capital, and operate larger firms than non-serial entrepreneurs. Moreover, serial entrepreneurs with greater liquidity and whose firms have relatively similar productivity are more likely to operate these firms concurrently rather than sequentially. We also find that less productive serial entrepreneurs are more likely to switch sectors when establishing new firms, with the choice of sector influenced by risk diversification, upstream and downstream linkages, and sectoral complementarities.

个人简介：

Kjetil Storesletten is Professor of Economics at University of Minnesota. His academic interests are on political economy, asset pricing and economic development of China. His work has been published in leading journals, including the Journal of Political Economy, American Economic Review, Journal of Monetary Economics and many other journals. He has served as a member of the monetary policy committee for the Norwegian Central Bank, as well as editor of the Review of Economic Studies. He currently serves as the President of the European Economic Association, and he is a co-editor of Quantitative Economics.