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Does Firm Size Matter? The Impact of Homeownership on Business Start-up in Italy

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  • Gaetano Lisi

Abstract

This paper is the first attempt to empirically test the relationship between homeownership and business start-up by putting emphasis on the characteristics of both homeowners and firms. It relies on the fact that the firm size is relevant when considering the relationship between homeownership (outright or with mortgage) and new enterprises (small-sized or medium- and large-sized). A cross-section analysis of Italy supports our hypothesis that firm size matters in estimating the actual effect of homeownership on business start-up: Homeownership has a negative effect on large-sized business start-up; in contrast, outright homeownership has a positive effect on small business start-up, whereas homeownership with mortgage payments has a negative effect only on small business start-up. Theoretical explanations are also provided.

Suggested Citation

  • Gaetano Lisi, 2019. "Does Firm Size Matter? The Impact of Homeownership on Business Start-up in Italy," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot GmbH, Berlin, vol. 65(3), pages 237-246.
    • Handle: RePEc:dah:aeqaeq:v65_y2019_i3_q3_p237-246
    DOI: 10.3790/aeq.65.3.237
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    More about this item

    Keywords

    firm size; business start-up; homeownership;
    All these keywords.

    JEL classification:

    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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