|
on Entrepreneurship |
| By: | P.A. Geroski (deceased); José Mata; Pedro Portugal |
| Abstract: | We analyze the effects of founding conditions on the survival of new firms. We allow the effects of founding conditions to be transitory and estimate how long such effects last. Our findings indicate that founding effects are important determinants of exit rates. Moreover, in most cases, their effect on survival seems to persist without much of an attenuation for several years after the founding of the firm. |
| Keywords: | Survival of firms; founding effects |
| JEL: | L25 |
| Date: | 2007 |
| URL: | http://d.repec.org/n?u=RePEc:aal:abbswp:07-11&r=ent |
| By: | David B. Audretsch; Werner Bönte; Prashanth Mahagaonkar |
| Abstract: | Innovative nascent entrepreneurs face the problem of obtaining finance, mainly due to information problems. We use new data on capital seeking start-ups allowing distinction between planning stage and early stage. Being innovative does not affect the probability of having external finance in the planning stage but has a positive effect in the early stage. Early start-ups with patents have a significantly higher probability of having equity whereas debt is not affected. Patents, coupled with prototypes have a higher probability for external finance which may be due to reduced uncertainties and learning. The most important determinant of debt is house ownership. |
| Keywords: | Innovation; Entrepreneurship; Finance; Information Asymmetries |
| JEL: | M13 G32 O32 O47 |
| Date: | 2007 |
| URL: | http://d.repec.org/n?u=RePEc:aal:abbswp:07-09&r=ent |
| By: | Carol Newman (Trinity College Dublin); John Rand (Department of Economics, University of Copenhagen); Finn Tarp (Department of Economics, University of Copenhagen) |
| Abstract: | Much of the literature on industry evolution has found firm dynamics to be an important source of sector-level productivity growth. In this paper, we ask whether the delineation of entry and exit firms matters in assessing the impact of firm turnover. Using detailed firm level data from Vietnam, it emerges that efficiency differences between sector switchers and exit/entry firms exist. Distinguishing between switchers and firm entry/exit is crucial for understanding the contribution of firm turnover to overall productivity growth. Moreover, we uncover distinct and illuminating firm and sector-level determinants of firm exit and switching, which need to be carefully considered in the search for effective policy. |
| Keywords: | firm dynamics; sector switching; efficiency; Vietnam |
| JEL: | D21 L6 O14 |
| Date: | 2007–09 |
| URL: | http://d.repec.org/n?u=RePEc:kud:kuiedp:0722&r=ent |
| By: | Silva, Maria José; Leitão, João |
| Abstract: | In the context of globalisation, innovation is considered as a key factor for enhancing the competitiveness of firms. Nowadays, it is widely accepted that Portuguese firms face an increasing competitive environment, which is characterised by internationalization and globalization. In this sense, it becomes important to analyse the determinant factors of innovation capability of firms. This paper aims to identify and analyse the degree of importance of the determinant factors of innovation capability of Portuguese industrial firms. The data obtained through the 2rd Community Innovation Survey (CIS II) conducted by EUROSTAT, is used in a linear regression model. The entrepreneurial innovative capability, measured as product innovation, is considered as the variable answer, in the estimation process of a Logit function. The paper presents an innovative contribution since it uses a set of five determinant factors of innovation capability of industrial firms, at a product innovation level. Technological capacity, dimension of the firm, activity sector, market orientation and location of the firm, are considered as determinants factors of innovation capability of the firms. The results of the joint analysis provide the identification of stimulating factors and restraining factors of the entrepreneurial innovative capability of a selected sample of Portuguese industrial firms. Under a Schumpeterian approach, the paper ratifies that large enterprises are more prone to innovate than small enterprises. The dimension plays a role, in terms of the strategic conduct implemented by small firms, which are not so prone to innovate, due to its small dimension. Benchmarking the Portuguese case is particularly important, because small industrial enterprises face restraining conditions imposed by outsourcing contracts that are established between small producers and leading international buyers. This restrains, broadly, the entrepreneurial innovative capability of small industrial enterprises. |
| Keywords: | Innovation; Entrepreneurial Innovative Capability. |
| JEL: | O32 O31 |
| Date: | 2007–10–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:5216&r=ent |