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on Entrepreneurship |
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Issue of 2007‒01‒23
ten papers chosen by Marcus Dejardin Facultes Universitaires Notre-Dame de la Paix |
| By: | Isabel Grilo; Roy Thurik |
| Abstract: | The process of the entrepreneurial decision is decomposed in seven engagement levels ranging from “never thought about starting a business” to “gave up”, “thinking about it”, “taking steps for starting up”, “having a young business”, “having an older business” and “no longer being an entrepreneur”. By using a multinomial logit model we allow the effect of covariates to differ across the various entrepreneurial engagement levels. Data from two Entrepreneurship Flash Eurobarometer surveys (2002 and 2003) con-taining over 20,000 observations of the 15 old EU member states, Norway, Iceland, Liechtenstein and the US are used. Other than demographic variables, the set of explanatory variables used includes the percep-tion by respondents of administrative complexities, of availability of financial support and of risk tolerance, the respondents’ preference for self-employment and country specific effects. Among our results we find that the perception of lack of financial support has no discriminative effect across the various levels of en-trepreneurial engagement while perception of administrative complexities plays a negative role only for high levels of engagement. |
| Keywords: | entrepreneurship, determinants, nascent entrepreneurship, multinomial logit, barriers to entry, Europe |
| JEL: | H10 J23 L26 M13 R12 |
| Date: | 2007–01 |
| URL: | http://d.repec.org/n?u=RePEc:esi:egpdis:2007-02&r=ent |
| By: | Peter van der Zwan (CASBEC, Erasmus School of Economics, Erasmus Universiteit Rotterdam, and EIM, Zoetermeer); Roy Thurik (CASBEC, Erasmus School of Economics, Erasmus Universiteit Rotterdam, EIM Zoetermeer, Max Planck Institute of Economics, and Vrije Universiteit Amsterdam); Isabel Grilo (DG Enterprise, European Commission, GREMARS, Université de Lille 3, and CORE, Université Cath. de Louvain) |
| Abstract: | We test a new model where the entrepreneurial decision is described as a process of successive engagement levels, i.e., as an entrepreneurial ladder. Five levels are distinguished using nearly 12,000 observations from the 2004 “Flash Eurobarometer survey on Entrepreneurship” covering the 25 European Union member states and the United States. The most surprising of the many results is that perception of lack of financial support is no obstacle for moving to a higher entrepreneurial engagement level whereas perceived administrative complexity is a significant obstacle. We also show that the effect of age on the probability of moving forward in the entrepreneurial process becomes negative after a certain age implying that if entrepreneurial engagements are not taken early enough in life they may well never be taken. |
| Keywords: | entrepreneurship; determinants; nascent entrepreneurship; ordered multinomial logit; Europe |
| JEL: | H10 J23 L26 M13 R12 |
| Date: | 2006–11–22 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:uvatin:20060103&r=ent |
| By: | Acs, Zoltan (George Mason University, School of Public Policy); Audrestch, David (Indiana University, School of Environmental and Public Affairs); Braunerhjelm, Pontus (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); Carlsson, Bo (Case Western Reserve University, Weatherhead School of Management, Department of Economics) |
| Abstract: | Contemporary theories of entrepreneurship generally focus on the recognition of opportunities and the decision to exploit them. While the prevailing view in the entrepreneurship literature is that opportunities are exogenous, the most prevalent theory of economic growth suggests that opportunities are endogenous. This paper bridges the gap between the entrepreneurship and economic growth literatures by developing a knowledge spillover theory of entrepreneurship. Knowledge created endogenously results in knowledge spillovers that give rise to opportunities to be identified and exploited by entrepreneurs. |
| Keywords: | Opportunity; knowledge; entrepreneurship; knowledge filter |
| JEL: | J24 M13 O31 R10 |
| Date: | 2007–01–10 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0077&r=ent |
| By: | Claudio Campanale (Universidad de Alicante) |
| Abstract: | In this paper I present a calibrated model of life-cycle occupation and investment decisions where households choose between paid work and entrepreneurship and conditional on the latter how much of their savings to invest in their business. The returns to entrepreneurial activity are modeled through Bayesian learning. The model is able to reproduce the main stylized facts of entry in and exit out of self-employment over the life-cycle. It also suggests a partial explanation of the recent finding of Moskowitz and Vissing-Jørgensen (2002) that entrepreneurs seem not to require a premium for the extra risk of their private equity investment. |
| Keywords: | Occupational choice, portfolio choice, entrepreneurship, firm dynamics, learning, private equity premium |
| Date: | 2007–01 |
| URL: | http://d.repec.org/n?u=RePEc:ivi:wpasad:2006-29&r=ent |
| By: | Goel Abhishek; Vohra Neharika; Zhang Liyan; Arora Bhupinder |
| Abstract: | This study argues that social support is an important enabler in entrepreneurial activity in a country or a region. One untested assumption in policy making on entrepreneurship development has been that all regions are equally desirous of entrepreneurial activity and one policy could address issues in all regions. It was argued that societal attitudes towards entrepreneurs and entrepreneurship are important determinants for future entrepreneurial activity. These attitudes would be impacted by the family background of an individual and entrepreneurial development in the region an individual comes from. It was hypothesized that more positive attitude would be seen in (i) people form entrepreneurial backgrounds, and (ii) entrepreneurially more developed regions. These hypotheses were tested on more than 5,000 respondents in India and China. The results for family background’s influence on attitudes found strong support in both India and China. Regional development showed stronger influence on attitude in India than in China. The findings and implications for studying attitudes and policy making are discussed. |
| Keywords: | Attitudes, Entrepreneurs, Entrepreneurship, Cross-cultural, India, China |
| Date: | 2007–01–15 |
| URL: | http://d.repec.org/n?u=RePEc:iim:iimawp:2007-01-06&r=ent |
| By: | Braunerhjelm, Pontus (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); Svensson, Roger (Research Institute of Industrial Economics) |
| Abstract: | According to Schumpeter, the creative process of economic development can be divided into three distinguishable stages of invention, innovation (commercialization) and imitation. We show why there is a rationale for the Schumpeterian entrepreneur to also include the inventor in the innovation process. In addition, we provide a framework where the theories of Knight’s risk defining entrepreneur and Schumpeter’s innovative entrepreneur can be bridged. Merging the two enhances the possibilities of successful commercialization since the inventor may further adapt the innovation to customer needs, transmit information and reduce uncertainty. This serves to expand the market opportunities for the entrepreneur. The empirical analysis is based on a survey covering Swedish patents granted to individuals and small firms, with a response rate of 80 %. The results show improved commercialization performance when the patent is licensed or sold to an entrepreneur, or if the inventor is employed in an entrepreneurial firm, as compared to commercialization in the inventor’s own firm. Another important result is that, irrespective of commercialization mode, an active involvement of the inventor is shown to have a positive impact on performance. |
| Keywords: | Entrepreneur; inventor; innovations; commercialization |
| JEL: | M13 O31 O32 |
| Date: | 2007–01–17 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0078&r=ent |
| By: | Antonia R. Gurrieri (University of Bari); Luca Petruzzellis (University of Bari) |
| Abstract: | This study is concerned with the factors that influence the cooperation among cluster-based firms. Theorists have consistently demonstrated the role and importance of economic externalities, such as knowledge spillovers, within industrial clusters. Less attention has been paid to the investigation of social based externalities, though it has been suggested that these may also accrue from geographical agglomeration. This study explores the development of cooperation between firms operating in a single industry sector and in close proximity. The results suggest that social networking has a greater influence than geographic proximity in facilitating inter-firm co-operation. A semi-structured questionnaire has been developed and the answers were analysed with a stepwise regression model. |
| Keywords: | Networks, Inter-Firm Cooperation, SMEs |
| Date: | 2006–11 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2006.134&r=ent |
| By: | Frances Ruane; Julie Sutherland |
| Abstract: | This paper extends existing research on firm heterogeneity by exploring whether differences in firm performance characteristics may in part be related to the gender of the proprietor of the firm. Using a data set of Irish manufacturing firms covering the period 1993 to 2002, we estimate multivariate regression models comparing the performance of female-owned and male-female joint ownership firms with firms owned by males only. When compared with all other firm types, female-owned firms exhibit inferior firm performance characteristics. However, when we control for the ownership structure of the firm and compare female sole-proprietor firms with male sole-proprietor firms, the under-performance difference is reduced. Examining separately firms that are jointly owned by males and females we find that joint ownership firms significantly under-perform those owned by males. |
| Keywords: | Firm performance, gender |
| Date: | 2007–01–17 |
| URL: | http://d.repec.org/n?u=RePEc:iis:dispap:iiisdp200&r=ent |
| By: | Harold Creusen; Bert Minne; Henry van der Wiel |
| Abstract: | Competition in the Dutch market sector as a whole probably slightly declined during 1993- 2001. Within the market sector, a large variety in competition development exists. Competition changes have been rather small in many industries competition, but a considerable number of industries experienced a sharp rise or strong fall in competition. These findings are puzzling in light of regulatory reforms that have been implemented in the period observed. Yet, econometric analysis suggests that regulatory reforms could have intensified competition. However, strong growth of market demand has weakened competition and it counterbalanced to some extent the impact of regulatory reforms. If demand grows more rapidly than supply, then incumbent firms compete less aggressively. This should attract new competitors if entry barriers are low. Although entry has a positive effect on competition, its contribution has been negligible or even slightly negative. The analysis is based on two competition indicators. The model considerably explains the development of both indicators at the industry level. However, several determinants have statistically insignificant coefficients, particularly the estimated coefficients of entry and exit rates. |
| Keywords: | competition; measurement; competition policy |
| JEL: | D4 L1 L5 |
| Date: | 2006–12 |
| URL: | http://d.repec.org/n?u=RePEc:cpb:docmnt:136&r=ent |
| By: | Marcus Dejardin (Faculté des Sciences économiques, sociales et de gestion, FUNDP - [Facultés Universitaires Notre-Dame de la Paix]) |
| Abstract: | Après avoir brièvement mis en exergue quelques unes des raisons pour lesquelles la connaissance est devenue une préoccupation économique majeure, la contribution discute plus précisément les enjeux posés à l'entreprise. Cette discussion porte sur deux points en particulier. D'abord, il s'agit de considérer les effets attendus du contexte de l'économie de la connaissance sur la localisation et sur l'organisation de la production. Ensuite, la question de la politique salariale de l'entreprise est examinée. La dispersion salariale pourrait constituer un moyen de stimuler la performance des firmes et de limiter les risques liés aux asymétries d'information et les pertes de substance suite au départ du capital humain de l'entreprise. Des recherches complémentaires devraient être menées à ce propos. |
| Keywords: | Economie de la connaissance, asymétrie d'information, politique de l'entreprise |
| Date: | 2007–01–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:papers:halshs-00122850_v1&r=ent |