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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 | |