Entrepreneurial finance, credit cards, and race
This paper examines the impact of financial deregulation on entrepreneurship. We assess the impact of credit card deregulation on transitions into self-employment using state-level removal of credit card interest rate ceilings following the US Supreme Court's 1978 Marquette decision as a quasi-...
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| Veröffentlicht in: | Journal of financial economics 2012-10, Vol.106 (1), p.182-195 |
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| container_end_page | 195 |
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| container_issue | 1 |
| container_start_page | 182 |
| container_title | Journal of financial economics |
| container_volume | 106 |
| creator | Chatterji, Aaron K. Seamans, Robert C. |
| description | This paper examines the impact of financial deregulation on entrepreneurship. We assess the impact of credit card deregulation on transitions into self-employment using state-level removal of credit card interest rate ceilings following the US Supreme Court's 1978 Marquette decision as a quasi-natural experiment. We find that credit card deregulation increases the probability of entrepreneurial entry, with a particularly strong effect for black entrepreneurs. We demonstrate that these effects are magnified in states with a history of racial discrimination and link the results to discrimination-based barriers to entry. |
| doi_str_mv | 10.1016/j.jfineco.2012.04.007 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 0304-405X |
| ispartof | Journal of financial economics, 2012-10, Vol.106 (1), p.182-195 |
| issn | 0304-405X 1879-2774 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_1037880701 |
| source | ScienceDirect Journals (5 years ago - present) |
| subjects | Barriers to entry Credit card Credit cards Deregulation Economic concentration Entrepreneurs Entrepreneurship Financial analysis Financial constraints Impact analysis Interest rates Race Studies Supreme Court decisions U.S.A |
| title | Entrepreneurial finance, credit cards, and race |
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