Suchergebnisse

In many countries entrepreneurship is promoted through tax reductions for small businesses and by various government support schemes. We analyze the effects of such policies to subsidize small businesses in a setting where both the risk-return characteristics of the selected innovation project and the mode of commercialization chosen by entrepreneurs (market entry versus sale to an incumbent firm) are endogenous. We show that government programs to support small businesses foster market entry by entrepreneurs but, at the same time, give an incentive to choose low risk projects, due to the existence of limited loss offset provisions. This points to a basic trade-off between the goals of raising competition in technology-intensive markets and the desire of governments to foster risky 'breakthrough' innovations.

In many countries entrepreneurship is promoted through tax reductions for small businesses and by various government support schemes. We analyze the effects of such policies to subsidize small businesses in a setting where both the risk-return characteristics of the selected innovation project and the mode of commercialization chosen by entrepreneurs (market entry versus sale to an incumbent firm) are endogenous. We show that government programs to support small businesses foster market entry by entrepreneurs but, at the same time, give an incentive to choose low risk projects, due to the existence of limited loss offset provisions. This points to a basic trade-off be- tween the goals of raising competition in technology-intensive markets and the desire of governments to foster risky `breakthrough' innovations.

AbstractWe develop a theoretical oligopoly model to study how international differences in profit and capital gains taxes affect foreign acquisitions. Reductions in foreign profit taxes tend to trigger inefficient foreign acquisitions, while reductions in foreign capital gains taxes may trigger efficient foreign acquisitions. Foreign acquisitions can increase domestic tax revenues even when profit taxes are evaded. The reason is that bidding competition between foreign firms ensures that all benefits from the acquisition, including tax advantages, are captured by a domestic seller paying capital gains taxes. Tax code issues, such as the treatment of goodwill, are shown to affect the pattern of foreign acquisitions.

What explains the world-wide trend of pro-entrepreneurial policies in the last few decades? We study entrepreneurial policy in a lobbying model taking into account the con.ict of interest between entrepreneurs and incumbents. It is shown that international market integration leads to more pro-entrepreneurial policies. It becomes more difficult to protect the profits of incumbent firms from entrepreneurial entry and pro-entrepreneurial policies make foreign entrepreneurs less aggressive. Making use of the Doing Business database, we find, consistent with our theory, evidence that international openness reduces barriers to entry for new entrepreneurs and that the effect is stronger in countries with more rent-seeking governments.

We provide a model that explains the following empirical observations: i) private ownership is more efficient than public ownership, ii) privatizations are associated with increases in efficiency and iii) the increase in efficiency predates the privatization. The two key mechanisms explaining the results are: (i) a government owner keeping control takes into account the negative effect on employment of investment and (ii) a privatizing government has a stronger incentive to invest than an acquiring firm: the government exploits the fact that investments increase the sales price not only due to the increase in the acquirer's profit, but also due to a reduced profit for the non-acquirer.

Starting from a three-dimensional conception of mood (pleasantness, activation, and calmness) it was assumed that activation and/or calmness should reflect strength and centrality of desires present, while pleasantness should reflect expected goal achievement. These assumptions
were tested in a study where a mood questionnaire and rating scales concerning task aspects were administered to students before and after an undergraduate exam. It was found that expected goal achievement correlated with calmness. The subjects who did not accord to this postulated pattern
gave indications in their data and in their verbal comments that the task studied was of less importance for them, a finding also in accordance with the present approach to mood.

Summary This article describes caregivers' strategies for reaching children on the streets and caring for them at institutions of care. Data was collected over a period of two years from 70 caregivers in 35 organisations in Nairobi, Nakuru and Muranga, identified by snowball sampling strategy. Data was collected using a semi-structured topic guide based on issues emerging from earlier studies with street boys. Direct observation, video recording and photography were used to study interactions between the children and their caregivers. Findings Two themes were developed: the "dedicated" caregiver confronting street realities, and making a difference despite the limitations. The way caregivers interacted with the children on the streets and in the institutions influenced the children's decision to leave the streets, to be initiated into residential care, and attend rehabilitation and reintegration programmes. Children were more positive to caregivers who took time to understand them and were soft in establishing rapport with them. Application The results suggest that caregivers' strategies are potential contributors to reversing trends in the street children phenomenon as they influence the children's decision to leave the streets and undergo rehabilitation at institutions of care. We thus recommend development of educational efforts focusing on helping caregivers develop healthy relationships and positive interactions with the children.