Right-Sizing the U.S. Venture Capital Industry

Explores the future role of the venture capital industry and its size, in terms of aggregate underlying financial commitment, in financing entrepreneurship and driving high returns. Argues that the sector needs to shrink in order to be competitive

Neutralism and Entrepreneurship: The Structural Dynamics of Startups, Young Firms and Job Creation

Based on data since 1977, analyzes how the structural dynamics of firm formation, exit, and accumulation suggests that firm formation has been largely constant and new and young companies' share of net job creation is a stabilizing force in the economy

Financialization and Its Entrepreneurial Consequences

Examines the financial sector's rise in relative economic importance and its impact on science and engineering employment and entrepreneurship. Explores new firm formation and performance and capital allocation under a scenario with a smaller sector

Entrepreneurs and Recessions: Do Downturns Matter?

Based on the number of companies founded during recessionary and non-recessionary periods that later made initial public offerings, explores the extent to which a company's success is affected by the economic conditions at the time of its founding

Exploring Firm Formation: Why Is the Number of New Firms Constant?

Explores the factors behind the constant number of new firms started each year, including the relatively steady rate of employment turnover creating a supply of potential entrepreneurs. Considers implications for economic research and policy making

Financial crisis and North-South gap within the main media groups in the EU

La crisis y los ajustes económicos en los grandes grupos de medios comunicación de la Unión Europea han incrementado la brecha Norte-Sur en cuanto a solidez financiera, competitividad y capitalización, a favor de los modelos centroeuropeo y anglosajón. Los resultados financieros de los 93 mayores grupos y empresas del sector en la UE evidencian no sólo los efectos perniciosos de la financiarización y la coyuntura económica, sino también el incremento de las divergencias regionales en la UE-28. Los países mediterráneos, con los peores resultados, son los más expuestos a estos peligros y muestran los escasos avances en la convergencia del sector mediático europeo en cuanto a gestión económica y solidez para cumplir sus cometidos sociales. La crisis ha reforzado la posición de los grupos mediáticos del Norte frente a un debilitado Sur, que ya partía de una mayor dependencia por su mayor exposición a intereses partidistas. La difusión diaria de prensa en la UE bajó de 115,33 millones de ejemplares distribuidos en 2008 a 82,54 millones en 2012, un 27,73% menos. El 64,5% de los grandes medios cotizados en la UE-28 se concentra en cinco países. El 52,7% de los medios cuenta con participaciones significativas de instituciones financierasThe financial crisis and the economic adjustments within the most important media groups of the European Union (EU) have enlarged the North-South gap regarding financial strength, competitiveness and capitalisation, favouring Center European and UK patterns. The financial results of the 93 biggest media groups and enterprises in the EU provide evidence of not only the pernicious effects of financialization, but also the increase of regional divergences within the EU-28. The Mediterranean countries, which have got the worst results in all of the indicators analysed, are the most exposed to those dangers and confirm the poor advances of the media sector regarding convergence of management and economic solidity, at the expense of their capability to fulfil their social aims. The crisis has strengthened the position of the media groups in the North in front of the weakened South, that already had a greater dependence by its greater exposure to partisan interests. The daily circulation of press in the EU fell from 115.33 million copies distributed in 2008 to 82.54 in 2012, 27.73% less. 64.5% of the major media listed in the EU-28 is concentrated in five countries. 52.7% of the media has significant holdings in financial institutionsS