This thesis examines the role of economic markets and agents in promoting entrepreneurship, and their impact on innovation. The first chapter focuses on small business creation within the context of the United States economy, while the second chapter looks at returns to high-technology entrepreneurship internationally. Chapter 1 examines the impact of economic downturns on entrepreneurship in the United States by illustrating the direct link between the labor market and self-employment sector. When conditions in the labor market deteriorate for certain groups of individuals they are more likely to become entrepreneurs. This chapter shows that while African-American (henceforth Black) entrepreneurship rates have hovered around one-third that of the Caucasian (henceforth White) rate across all industries since 1910, Blacks are significantly more likely than Whites to become entrepreneurs, thereby narrowing the racial entrepreneurship gap. This phenomenon is accompanied by a widening of the racial wage gap - a 1 percent increase in state level unemployment causes Black wages to fall by 5 percent while nominal White wages remain unchanged. This is not a result of a compositional change in the labor force or industry specific shocks and the estimates are robust to an IV approach. This chapter next shows that discrimination reduces the demand for Black labor, resulting in the decrease of Black wages. Black wages fall more sharply with higher unemployment in states with higher racial prejudice compared to that in states with lower racial prejudice. As Black business income does not show corresponding cyclicality these empirical facts suggest that falling wages alter the payoffs from wage employment relative to self-employment, incentivizing Blacks to start businesses. Black businesses started in recessions do not differ from their White counterparts in income generated, incorporation rates or duration of survival. Moreover, it is the higher-ability Blacks who become business owners in recessions, suggesting that these ventures are voluntary and not the result of job termination. These findings show that Blacks do not differ from Whites in entrepreneurial ability, but face high barriers to entry into entrepreneurship and only cross these barriers when incentives change. Chapter 2 examines the role played by economic agents and ownership structures in creating incentives for high-technology entrepreneurship. The goal of high-technology entrepreneurship is to go public through initial public offers (IPO). Going public eases access to finance and rewards entrepreneurs for innovation. This chapter examines the links between the corporate ownership structures of an economy, focusing in particular on business groups, and the degree of average underpricing associated with IPOs. This approach allows for an exploratory look at the effects of market competition, information asymmetry, power and conflicts of interest on IPO pricing. Using a cross-country analysis based on two independent data sets, the chapter shows that the amount of money left on the table for investors decreases with the degree of concentration of ownership within the economy. The greater the degree of separation between control and equity ownership, the smaller the average IPO underpricing. These findings are viewed as supporting evidence for IPO pricing theories based on share allocation, social control and power.

Communication has developed during the years and is discussed to have become a central part in marketing, since it can be seen as the process where a company try to communicate the value of a product or a service to an end consumer. A relatively new way of communication is through the use of technology and internet, which has given companies new opportunities to communicate. Today does more than 91 percent of the Swedish population have access to internet. Businesses sees the online space as an opportunity to capture customers attention, which has lead to an increase in online businesses, also called e-commerce. It is more common than ever to shop online but the phenomenon can be seen as relatively new and therefore with potential risks that can affect consumers trust towards shopping online. A few studies have been done within the field of trust in e-commerce, however are there a lack of studies that suggests what variables that contributes to trust before a purchase, during purchase and after purchase. This thesis do therefore attempt to describe what it is that contributes to the perception of trust in e-commerce and which trust variables that are important throughout the purchase process online. This thesis is a qualitative research with a descriptive design. Based on theory about trust in e- commerce and the three purchase phases was a focus group guide designed in order to obtain data from six focus groups. The sample frame consisted of three age groups, which are based on statistics of online shopping behaviour. The study showed that trust plays an essential part when shopping online and that there are several variables that contributes to trust. Before an online purchase was it shown that variables such as word of mouth, information search, web design and delivery information is important. During the online purchase was information regarding price, delivery, return and payment but also safe transaction of personal information important in order to feel trust, where the online payment seemed to matter the most. After an online purchase was confirmation of order, delivery information, warranty and repair contacts considered to be the most important variables that contributes to trust.

Co-operative banks of Delhi state

Small scale industries

Financing in India

Delhi stock exchange

Marketing of financial services

Financial services by public sector banks

Mutual funds in India

New issues in India