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Title:Small Firms in the U.S. Economy, Three Essays
Author(s):Herranz Gonzalez, Maria De Las Nieves
Doctoral Committee Chair(s):Stefan Krasa
Department / Program:Economics
Degree Granting Institution:University of Illinois at Urbana-Champaign
Subject(s):Economics, Theory
Abstract:This thesis studies the characteristics of small firms in the US using data from the Survey of Small Business Finances (SSBF). The first chapter examines how the owners of small firms use decisions about legal organization, firm size, capital structure, and owner investment in the firm to manage firm risk and also finds the return on assets to be described as a very risky undertaking with high upside gain. The second chapter constructs a dynamic, computable model with heterogeneous agents and endogenous default in which entrepreneurs weigh a firm's current and future returns and uses it to match the SSBF data. The third chapter uses the cross-section of data contained in the same survey to estimate the survival probabilities of small firms both along their life-cycle and the business cycle.
Issue Date:2009
Description:129 p.
Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 2009.
Other Identifier(s):(MiAaPQ)AAI3392066
Date Available in IDEALS:2015-09-25
Date Deposited:2009

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