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In the 1980s, many U.S. cities initiated programs reserving a proportion of government contracts for minority-owned businesses. The staggered introduction of these set-aside programs is used to estimate their impacts on the self-employment and employment rates of African-American men. Black business ownership rates increased significantly after program initiation, with the black-white gap falling three percentage points. The evidence that the racial gap in employment also fell is less clear as it is depends on assumptions about the continuation of pre-existing trends. The black gains were concentrated in industries heavily affected by set-asides and mostly benefited the better educated.

Zonder onderwerpscode: economie

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In markets where consumers seek expert advice regarding purchases, firms seek to influence experts, raising concerns about biased advice. Assessing firm-expert interactions requires identifying their causal impact on demand, amidst frictions like market power. We study pharmaceutical firms' payments to physicians, leveraging instrumental variables based on regional spillovers from hospitals' conflict-of-interest policies and market shocks due to patent expiration. We find that the average payment increases prescribing of the focal drug by 73 percent. Our structural model estimates indicate that payments decrease total surplus, unless payments are sufficiently correlated with information (vs. persuasion) or clinical gains not captured in demand.

Zonder onderwerpscode: economie

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Why do some entrepreneurs thrive while others fail? We explore whether the advice entrepreneurs receive about people management influences their firm's performance. We conducted a randomized field experiment in India with 100 high-growth technology firms whose founders received in-person advice from other entrepreneurs who varied in their managerial style. We find that entrepreneurs who received advice from peers with an active approach to managing people-instituting regular meetings, setting goals consistently, and providing frequent feedback to employees-grew 28% larger and were 10 percentage points less likely to fail than those who got advice from peers with a passive people-management approach two years after our intervention. Entrepreneurs with MBAs or accelerator experience did not respond to this intervention, suggesting that formal training can limit the spread of peer advice.

Zonder onderwerpscode: economie

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This volume presents studies from experts in twelve industries, providing insights into the future role of innovation and entrepreneurship in driving economic growth across sectors.

Economic development. --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Technological innovations. --- Entrepreneurship. --- Entrepreneur --- Intrapreneur --- Capitalism --- Business incubators --- Breakthroughs, Technological --- Innovations, Industrial --- Innovations, Technological --- Technical innovations --- Technological breakthroughs --- Technological change --- Creative ability in technology --- Inventions --- Domestication of technology --- Innovation relay centers --- Research, Industrial --- Technology transfer --- Economic development --- Technological innovations --- Entrepreneurship --- innovation, innovative, entrepreneurship, entrepreneur, economic growth, economics, business, public policy, entrepreneurial management, investment banking, productivity, industry, silicon valley, boston, research triangle park, dynamism, stagnation, performance, potential, insightful, improvements, competition, technological innovations, organizational forms.

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We explore a new mechanism to understand state funding for public colleges and universities by leveraging data on the educational experiences of state legislators, specifically if and where they received postsecondary education. Using novel, hand-collected data from 2002 through 2014, we provide comprehensive documentation for the first time in the literature on the educational backgrounds of state legislators. We find a statistically significant, positive association between the share of legislators who attended their states' public institutions and state funding for their entire public higher-education system. We also find a similar positive relationship between the share of state legislators who attended particular campuses of the state's public university system and funding for those campuses. This relationship is more pronounced among publicly educated legislators who represent legislative districts close to their alma mater's district, and becomes most consequential when the legislator's district contains his or her alma mater. We discuss the implications of our findings for academic studies on how politics and legislators' personal experiences in influence support for higher education.