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This paper analyses the importance of entrepreneurs in terms of job creation and wage growth. Relying on unique data that
cover all establishments, firms and individuals in the Danish private sector, we are able to distil a number of different
subsets from the total set of new establishments—subsets which allow us to more precisely capture the “truly new” or “entrepreneurial”
establishments than has been possible in previous studies. Using these data, we find that while new establishments in general
account for one-third of the gross job creation in the economy, entrepreneurial establishments are responsible for around
25% of this, and thus only account for about 8% of total gross job creation in the economy. However, entrepreneurial establishments
seem to generate more additional jobs than other new establishments in the years following entry. Finally, the jobs generated
by entrepreneurial establishments are to a large extent low-wage jobs, as they are not found to contribute to the growth in
average wages. 相似文献
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Marie Herly Nikolaj Niebuhr Lambertsen 《Journal of Business Finance & Accounting》2023,50(1-2):91-117
Financial restatements are costly, but frequent, events and many firms restate several times. We explore why rational managers engage in misreporting despite the costly consequences. To guide our analysis, we build a parsimonious model of reporting bias and the cost of restating. In our model, the observed cost of a restatement conveys information about the true cost of biasing financial statements, which the manager incorporates into the optimal choice of bias. A restatement hence offers managers an opportunity to learn about the true cost of reporting bias, which allows them to update their biasing strategy if the observed cost differs from the expected. We test the model's predictions by analyzing how firms' accruals quality changes after observing the costs attached to restating, which we measure as the market loss following a restatement scaled by the restatement's net income effect. We find that future accruals quality is increasing in the cost of restating and the change in the cost of restating. Consistent with our stylized model, our results indicate that rational managers use the insights from prior restatements to improve their future bias strategy. 相似文献
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Nikolaj Malchow-møller Jan Rose Skaksen 《The journal of international trade & economic development》2013,22(5):682-709
Despite the fact that migration flows have always been closely related to business cycles, the effects of immigration are typically analysed in models without economic fluctuations. In this paper, we find that the welfare consequences of business-cycle-induced immigration are very different from the consequences of permanent immigration in a static economy. Specifically, the welfare effects depend crucially on (1) the return rate of immigrants in downturns and (2) the costs of recruiting immigrants. This has important consequences for the optimal design of temporary immigration programmes to deal with labour shortages. 相似文献