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| Preface | |
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| Introduction | |
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| Racial Patterns in Business Outcomes | |
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| Outline of This Book | |
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| Main Findings of the Research | |
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| Racial Disparities in Business Ownership and Outcomes | |
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| Racial Differences in Business Ownership | |
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| Recent Trends in Business Ownership | |
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| Racial Trends over the Twentieth Century | |
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| Explanations for Racial Differences in Business Ownership | |
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| Trends in the Number of Minority-Owned Businesses | |
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| Comparison of SBO/SMOBE and CPS Estimates | |
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| Racial Patterns and Trends in Business Outcomes | |
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| Racial Differences in Business Outcomes: Evidence from the CBO | |
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| Estimates from Other Business-Level Data Sources | |
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| Differences across Asian and Latino Groups | |
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| Conclusions | |
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| The Determinants of Small Business Success | |
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| Education | |
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| Family-Business Background | |
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| Evidence from the CBO on Intergenerational Links in Business Ownership | |
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| Work Experience in Family Businesses | |
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| Business Inheritances | |
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| Intergenerational Links, Family-Business Backgrounds, and Business Success | |
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| Other Forms of Business Human Capital | |
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| Identifying the Determinants of Business Outcomes | |
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| Regression Results | |
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| Educational Effects | |
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| The Effects of Family-Business Background on Outcomes | |
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| Other Forms of Business Human Capital | |
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| Profits | |
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| Gender Issues | |
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| Examining the Sensitivity of Results to Alternative Sample Definitions | |
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| Correcting for Missing Data | |
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| Multiple Imputation | |
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| Startup Capital | |
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| Industry | |
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| Startup Capital and Industry Estimates | |
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| Age of the Business | |
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| Conclusions | |
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| Appendixes | |
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| Estimating the Intergenerational Transmission in Business Ownership | |
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| Why Are African American-Owned Businesses Less Successful? | |
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| Racial Differences in Education | |
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| Family-Business Background | |
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| Racial Differences in Family-Business Experience | |
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| Racial Differences in Business Human Capital | |
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| Financial Capital | |
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| Black/White Differences in Wealth | |
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| Family Wealth | |
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| Lending Discrimination | |
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| Differential Types of Financing | |
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| Racial Differences in Startup Capital | |
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| Industry Differences | |
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| Identifying the Causes of Black/White Differences in Business Outcomes | |
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| Differences between Male and Female Business Owners | |
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| Contributions from Startup Capital and Industry Differences | |
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| Other Potential Explanations: Consumer Discrimination | |
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| Networks | |
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| Conclusions | |
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| Appendixes | |
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| Nonlinear Decomposition Method | |
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| Why Are Asian-Owned Businesses More Successful? | |
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| Social Capital and Ethnic Resources | |
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| Human, Financial, and Other Types of Capital | |
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| Educational Differences | |
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| Family-Business Experience | |
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| Differences in Business Human Capital | |
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| Wealth Differences | |
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| Types of Financing | |
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| Startup Capital | |
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| Industry Differences | |
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| Hours Worked | |
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| Asian Subgroups | |
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| Identifying the Causes of Asian/White Differences in Business Outcomes | |
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| Conclusions | |
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| Appendix | |
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| Conclusions and Implications | |
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| Financial Capital | |
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| Family-Business Experience | |
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| Human Capital | |
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| Policy Implications | |
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| New Policy Ideas | |
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| Data Appendix | |
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| The Survey of Business Owners (SBO) and the Survey of Minority-Owned Business Enterprises (SMOBE) | |
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| The Characteristics of Business Owners (CBO) | |
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| The Current Population Survey (CPS) | |
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| Individual- versus Business-Level Data | |
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| Additional Data Sources for Studying Minority-Owned Businesses | |
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| Summary | |
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| Notes | |
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| References | |
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| Index | |