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dc.contributor.authorLoss, Frédéric
dc.contributor.authorRenucci, Antoine
dc.date.accessioned2009-12-15T11:31:50Z
dc.date.available2009-12-15T11:31:50Z
dc.date.issued2005
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/2710
dc.language.isoenen
dc.subjectCorporate financeen
dc.subjectEconométrieen
dc.subjectProfessional reputationen
dc.subjectentrepreneurshipen
dc.subject.ddc658.1en
dc.subject.classificationjelL26en
dc.titleProfessional Reputation, Cash, and Transition to Entrepreneurial Activityen
dc.typeCommunication / Conférence
dc.contributor.editoruniversityotherCNAM;France
dc.description.abstractenWe analyze the role of professional reputation in the transition to entrepreneurial activity when credit is rationed. We study an employee's willingness to allow the market to learn information about talent by choosing more or less informative projects. This choice impacts the employee's incentives to exert effort, which determines the wage, and in turn the cash to be invested in the business venture. We show that reputation and cash are substitutes in overcoming credit rationing. However, maintaining a good reputation conflicts with accumulating cash. Hence, employees adopt a different strategy depending on their initial reputation. Besides, starting a business venture early can in expectation be easier than waiting in order to build a reputation and accumulate cash.en
dc.identifier.citationpages34en
dc.description.sponsorshipprivateouien
dc.subject.ddclabelOrganisation et finances d'entrepriseen
dc.relation.conftitleAFFI 2005 (Association Française de Finance)en
dc.relation.confdate2005-12
dc.relation.confcityParisen
dc.relation.confcountryFranceen


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