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Entrepreneurial finance, credit cards, and race

Publication ,  Journal Article
Chatterji, AK; Seamans, RC
Published in: Journal of Financial Economics
October 1, 2012

This paper examines the impact of financial deregulation on entrepreneurship. We assess the impact of credit card deregulation on transitions into self-employment using state-level removal of credit card interest rate ceilings following the US Supreme Court's 1978 Marquette decision as a quasi-natural experiment. We find that credit card deregulation increases the probability of entrepreneurial entry, with a particularly strong effect for black entrepreneurs. We demonstrate that these effects are magnified in states with a history of racial discrimination and link the results to discrimination-based barriers to entry. © 2012 Elsevier B.V.

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Published In

Journal of Financial Economics

DOI

ISSN

0304-405X

Publication Date

October 1, 2012

Volume

106

Issue

1

Start / End Page

182 / 195

Related Subject Headings

  • Finance
  • 3801 Applied economics
  • 3502 Banking, finance and investment
  • 1606 Political Science
  • 1502 Banking, Finance and Investment
  • 1402 Applied Economics
 

Citation

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Chatterji, A. K., & Seamans, R. C. (2012). Entrepreneurial finance, credit cards, and race. Journal of Financial Economics, 106(1), 182–195. https://doi.org/10.1016/j.jfineco.2012.04.007
Chatterji, A. K., and R. C. Seamans. “Entrepreneurial finance, credit cards, and race.” Journal of Financial Economics 106, no. 1 (October 1, 2012): 182–95. https://doi.org/10.1016/j.jfineco.2012.04.007.
Chatterji AK, Seamans RC. Entrepreneurial finance, credit cards, and race. Journal of Financial Economics. 2012 Oct 1;106(1):182–95.
Chatterji, A. K., and R. C. Seamans. “Entrepreneurial finance, credit cards, and race.” Journal of Financial Economics, vol. 106, no. 1, Oct. 2012, pp. 182–95. Scopus, doi:10.1016/j.jfineco.2012.04.007.
Chatterji AK, Seamans RC. Entrepreneurial finance, credit cards, and race. Journal of Financial Economics. 2012 Oct 1;106(1):182–195.
Journal cover image

Published In

Journal of Financial Economics

DOI

ISSN

0304-405X

Publication Date

October 1, 2012

Volume

106

Issue

1

Start / End Page

182 / 195

Related Subject Headings

  • Finance
  • 3801 Applied economics
  • 3502 Banking, finance and investment
  • 1606 Political Science
  • 1502 Banking, Finance and Investment
  • 1402 Applied Economics