Legitimacy and the Benefits of Firm Formalization
Organization Science, Volume 28, Issue 5, 2017.
Entrepreneurs in many emerging economies start their firms informally, without registering with the state. We examine how informality at the time of founding affected the performance of 12,146 firms in 18 countries across sub-Saharan Africa. Our findings indicate that entrepreneurs who registered their firms at founding enjoyed greater su...More
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