The DOI matches its Crossref record; 42 of the 42 references it cites were found in a registry or an index.
Housing Collateral and Entrepreneurship
Abstract
We show that collateral constraints restrict firm entry and postentry growth, using French administrative data and cross‐sectional variation in local house‐price appreciation as shocks to collateral values. We control for local demand shocks by comparing treated homeowners to controls in the same region that do not experience collateral shocks: renters and homeowners with an outstanding mortgage, who (in France) cannot take out a second mortgage. In both comparisons, an increase in collateral value leads to a higher probability of becoming an entrepreneur. Conditional on entry, treated entrepreneurs use more debt, start larger firms, and remain larger in the long run.
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Cites
How Much Should We Trust Differences-in-Differences Estimates?
Bertrand, M., Duflo, E., & Mullainathan, S. (2004) · The Quarterly Journal of Economics · doi:10.1162/003355304772839588 · Cited by 10,641
Bootstrap-Based Improvements for Inference With Clustered Errors
Cameron, A. C., Gelbach, J. B., & Miller, D. L. (2008) · Review of Economics and Statistics · doi:10.1162/rest.90.3.414 · Cited by 4,417
Selection on observed and unobserved variables: Assessing the effectiveness of Catholic schools
Altonji, J. G., Elder, T. E., & Taber, C. R. (2005) · Journal of Political Economy · doi:10.1086/426036 · Cited by 3,706
An estimated model of entrepreneurial choice under liquidity constraints
Evans, D. S., & Jovanovic, B. (1989) · Journal of Political Economy · doi:10.1086/261629 · Cited by 3,347
Some Empirical Aspects of Entrepreneurship
Evans, D. S., & Leighton, L. S. (1989) · American Economic Review · Cited by 1,992
Household Balance Sheets, Consumption, and the Economic Slump*
Mian, A., Rao, K., & Sufi, A. (2013) · The Quarterly Journal of Economics · doi:10.1093/qje/qjt020 · Cited by 1,538
Liquidity Constraints, Household Wealth, and Entrepreneurship
Hurst, E., & Lusardi, A. (2004) · Journal of Political Economy · doi:10.1086/381478 · Cited by 1,296
Entrepreneurship and bank credit availability
Black, S. E., & Strahan, P. E. (2002) · The Journal of Finance · doi:10.1111/1540-6261.00513 · Cited by 1,140
Finance and Misallocation: Evidence from Plant-Level Data
Midrigan, V., & Xu, D. Y. (2014) · American Economic Review · doi:10.1257/aer.104.2.422 · Cited by 1,127
Some Empirical Aspects of Entrepreneurship
Evans, D. S., & Leighton, L. S. (1990) · Studies in Industrial Organization · doi:10.1007/978-94-015-7854-7_6 · Cited by 1,120
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Anatomy of Corporate Borrowing Constraints*
Lian, C., & Ma, Y. (2020) · The Quarterly Journal of Economics · doi:10.1093/qje/qjaa030 · Cited by 373
Crowdfunding and the Democratization of Access to Capital—An Illusion? Evidence from Housing Prices
Kim, K., & Hann, I.-H. (2019) · Information Systems Research · doi:10.1287/isre.2018.0802 · Cited by 144
Negative Home Equity and Household Labor Supply
BERNSTEIN, A. (2021) · The Journal of Finance · doi:10.1111/jofi.13070 · Cited by 83
Finance, Growth, and Inequality
Levine, R. (2021) · IMF Working Papers · doi:10.5089/9781513583365.001 · Cited by 62
Homeownership and household formation: No homeownership, no marriage?
Hu, M., & Wang, X. (2020) · Journal of Housing and the Built Environment · doi:10.1007/s10901-019-09724-5 · Cited by 37
Metadata
- Authors
- SCHMALZ, M. C., SRAER, D. A., & THESMAR, D.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2017-01-12
- Volume
- 72
- Issue
- 1
- Pages
- 99-132
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3021845779
- Cited by
- 371
- References
- 42
- FWCI
- 49.05
- Type
- journal article
- Language
- en
- Open access
- closed
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
