Michael Porter (1990) declared that entrepreneurship is "at the heart of national advantage." Edward Lazear (2002) more recently proclaimed that, "the entrepreneur is the single most important player in a modern economy." Audretsch and Thurik (2001) explain that the shifting emphasis on entrepreneurship can be explained by comparative advantage that now lies in knowledge-based economic activities. This growing literature has presented local, state, and federal policy makers with a compelling way through entrepreneurship programs to gain back jobs lost to globalization and outsourcing (Audretsch et al., 2006). While the effects of entrepreneurs on growth have been studied, the benefits of cities for new firms is less researched. We consider how cities encourage entrepreneurship, support entrepreneur survival, and enhance new firm financing.;Chapter 1 analyzes the effect of cities on the individual decision to start a firm. Specifically, we consider how several agglomeration theories may encourage individuals to launch a new firm. We contribute to the expanding literature on entrepreneurship by using the Kauffman Index of Entrepreneurial Activity (KIEA) for 1998-2011, considering individual startup decisions, while controlling for individual motivations, and examining the importance of the local industry conditions to new firm launches across several industries. We find that individuals in regions with entrepreneurial social and institutional structures are more likely to launch a new firm, while industry concentration and diversity are only significant in denser locations. The presence of small and new firms in a region creates an environment conducive to entry and is consistent across industry sectors.;Chapter 2 explores the effect of local industrial conditions on a startup's probability of shutdown using the Kauffman Firm Survey (KFS). We contribute to the expanding literature on entrepreneurship by considering shutdowns and positive-exits separately, using a comprehensive model including firm and local industry conditions, and estimating shutdown determinants for high-tech and manufacturing startups. We find strong evidence that the determinants of shutdown are significantly affected along these three dimensions. We test the effect of cluster, Jacobs, and Chinitz agglomerations on new firm shutdowns, but find that new firm shutdowns are not prevented by any source of agglomeration. While concentrated clusters and dense regions promote persistence for manufacturing firms, a regional structure with a large share of small firms (i.e. Chinitz hypothesis) promotes survival for non-manufacturing startups. An environment with a large share of small firms also decreases the risk of shutdown for low-tech startups, while higher industry MES and research expenditures decrease the risk of shutdown.;Finally, chapter 3 considers the effects of local industry conditions on external capital acquisition of new firms, using the Kauffman Firm Survey (KFS). While survival and growth has been the predominant measure of performance, Gompers and Lerner (2001) emphasize that access to external finance is necessary for entrepreneurs to establish a competitive advantage. We contribute to the entrepreneurial financing literature by accounting for heterogeneity in financing methods and repeated transactions, exploring how local industry conditions affect new firm financing, and considering how the determinants of financing differ for high-tech and low-tech firms. We find that the region in which a firm operates significantly affects the funding chances of new firms. New firms are at a greater risk of external equity and debt infusions in regions that specialize in certain industries and in industries with lower wages. While the chance of equity financing is greater in regions with an entrepreneurial culture and small supplier network (Landier model and Chinitz hypothesis), the probability of debt financing is greater in regions with concentrated clusters (Porter) and lower university research expenditures. Interestingly, these effects are mirrored for low-tech startups, while high-tech startups are only affected by the industry's wage and region's specialization.
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机译：迈克尔·波特（Michael Porter，1990）宣称企业家精神是“国家利益的核心”。爱德华·拉泽尔（Edward Lazear，2002）最近宣称：“企业家是现代经济中最重要的一个参与者。” Audretsch and Thurik（2001）解释说，对企业家精神的关注转移可以通过目前基于知识的经济活动中的比较优势来解释。越来越多的文献为地方，州和联邦政策制定者提供了一种引人注目的方式，即通过创业计划来找回因全球化和外包而流失的工作（Audretsch等，2006）。尽管已经研究了企业家对增长的影响，但是研究城市对新公司的好处却很少。我们考虑了城市如何鼓励企业家精神，支持企业家生存并增加新的公司融资。第1章分析了城市对个人创办公司决策的影响。具体来说，我们考虑几种集结理论如何鼓励个人创办新公司。我们使用1998-2011年考夫曼创业活动指数（KIEA），考虑个人创业决策，同时控制个人动机，并研究当地行业条件对新公司成立的重要性，为不断壮大的创业文学做出贡献行业。我们发现，具有企业家社会和机构结构的地区中的个人更有可能创办新公司，而行业集中度和多样性仅在人口稠密的地区才有意义。区域中小型和新公司的存在创造了一个有利于进入的环境，并且在各个行业中都保持一致。第二章使用考夫曼公司调查（KFS）探索了当地工业条件对初创企业倒闭概率的影响。通过使用包括公司和当地行业状况在内的综合模型，并分别为高科技和制造业初创公司估算停工的决定因素，我们通过分别考虑停工和正退出来为不断壮大的企业家文学做出贡献。我们发现有力的证据表明，停工的决定因素在这三个方面均受到显着影响。我们测试了集群，Jacobs和Chinitz集聚对新公司关闭的影响，但是发现任何集聚源都不能防止新公司关闭。集中的集群和密集的区域可以促进制造业企业的持久性，而具有大量小企业的区域结构（即Chinitz假设）则可以促进非制造业初创企业的生存。小公司占很大比例的环境也降低了低技术初创企业的关闭风险，而更高的行业MES和研究支出降低了关闭风险。最后，第3章考虑了本地行业条件对外部资本获取的影响考夫曼公司调查（KFS）来确定新公司的数量。尽管生存和增长一直是业绩的主要衡量标准，但Gompers和Lerner（2001）强调指出，获得外部融资对于企业家建立竞争优势必不可少。我们通过分析融资方法和重复交易的异质性，探索当地行业条件如何影响新公司融资，以及考虑高科技和低技术公司的融资决定因素如何差异，为企业家融资文献做出贡献。我们发现，公司经营所在的地区显着影响了新公司的融资机会。在专门从事某些行业和工资较低行业的地区，新公司面临的外部股本和债务注入风险更大。虽然在具有企业家文化和较小供应商网络的地区，股权融资的机会更大（Landier模型和Chinitz假设），但在集群集中（波特）且大学研究支出较低的地区，债务融资的可能性更大。有趣的是，这些影响反映在低技术初创企业上，而高科技初创企业仅受行业工资和地区专业化的影响。
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