English, Article, Journal or magazine article edition: Financial development, entrepreneurship and job satisfaction Milo Bianchi

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Bookmark: http://trove.nla.gov.au/version/44085
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Financial development, entrepreneurship and job satisfaction
Author
  • Milo Bianchi
Physical Description
  • preprint
Notes
  • This paper shows that utility differences between the self-employed and the employees increase with nancial development. This effect is not explained by increased profits but by an increased value of non- monetary benefits, in particular job independence. We interpret these findings by building a simple occupational choice model in which financial constraints may impede firms' creation and depress labor demand, thereby pushing some individuals into self-employment for lack of salaried jobs. In this setting, financial development favors a better matching between individual motivation and occupation, thereby increasing entrepreneurial utility despite increasing competition and so reducing profits.
  • RePEc:pse:psecon:2008-59
Language
  • English
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