|
on Entrepreneurship |
| By: | Onetti Alberto (Department of Economics, University of Insubria, Italy); Odorici Vincenza (Business Administration Department , University of Bologna, Italy); Presutti Manuela (Business Administration Department , University of Bologna, Italy) |
| Abstract: | Using qualitative methodology, we aim to understand how serial entrepreneurs can foster the development of born-global ventures. We consider a born-global start-up as the final stage of the learning process for a serial entrepreneur, advancing propositions regarding the importance of prior entrepreneurial experience – in terms of knowledge acquisition, identification and exploitation of opportunities, social networks development – for bornglobal venture creation and growth. We verify that the serial entrepreneur’s previous entrepreneurial experiences could substitute for the lack of knowledge, opportunity recognition and social networks of a born-global start-up. Thus, we recognize the necessity of a shift in the unit of analysis, from born-global start-up to a global serial entrepreneur. Moreover, we suggest to follow a dynamic approach when the born-global start-up issue is discussed since we expect that the entrepreneur’s learning process evolves over time in relation to their quality of previous experiences. |
| Keywords: | born-global, international new ventures, entrepreneurship, serial entrepreneur, internationalization, social network, entrepreneurial experience, opportunity identification, opportunity exploration, longitudinal case study. |
| Date: | 2008–04 |
| URL: | http://d.repec.org/n?u=RePEc:ins:quaeco:qf0801&r=ent |
| By: | Alberto F. Alesina; Francesca Lotti; Paolo Emilio Mistrulli |
| Abstract: | The answer is yes. By using a unique and large data set on overdraft contracts between banks and microfirms and self-employed individuals, we find robust evidence that women in Italy pay more for overdraft facilities than men. We could not find any evidence that women are riskier then men. The male/female differential remains even after controlling for a large number of characteristics of the type of business, the borrower and the market structure of the credit market. The result is not driven by women using a different type of bank than men, since the same bank charges different rates to male and female borrowers. Social capital does play a role: high levels of trust loosen credit conditions by lowering interest rates, but this benefit is not evenly distributed, as women benefit from increased social capital less than men. |
| JEL: | G21 J16 J71 |
| Date: | 2008–07 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:14202&r=ent |
| By: | Mette Ejrnaes (Copenhagen University); Stefan Hochguertel (VU University Amsterdam) |
| Abstract: | We study risk behavior of Danish self-employed entrepreneurs, whose income risk may be driven by both exogenous factors and effort choice (moral hazard). Partial insurance is available through voluntary unemployment insurance (UI). Additional incentives to sign insurance contracts stem from a UI-embedded, government-subsidized early retirement (ER) program, giving benefits that are unrelated to business risk. Indeed, we argue that the self-employed's incentives to insure themselves stem from the ER plan rather than from the UI cover. We show how to use a policy reform to identify moral hazard in observed transitions to unemployment when insurance is a choice variable. We use administrative (register) panel data covering 10% of the Danish population. We find that the insured are indeed more likely to transit into unemployment than the uninsured, once we properly instrument for the insurance choice. |
| Keywords: | entrepreneurs; self-employment; early retirement; unemployment insurance; moral hazard; Denmark; panel data |
| JEL: | C33 D12 D14 D91 J23 J26 |
| Date: | 2008–07–14 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:uvatin:20080065&r=ent |
| By: | Hulsink, W.; Elfring, T.; Stam, W. (Erasmus Research Institute of Management (ERIM), RSM Erasmus University) |
| Abstract: | Social networks matter in the innovation processes of young and small firms, since ‘innovation does not exist in a vacuum (Van De Ven, 1986: 601).’ The contacts a firm has could both generate advantages for further innovation and growth, and disadvantages leading to inertia and stagnation. In the first case the existing social network or the new business contact provides opportunities furthering eventual success, in the second case, the existing network or the new business contacts turns out to have a constraining or even detrimental effect on performance. The search and use of social capital is driven by goal-specificity: it only includes those ties that help the actor in the attainment of particular goals. Most of the research so far has been deliberately or unwillingly one-sided, by for instance only looking at entrepreneurial firms in dynamic industries (or more specifically, start-ups in the high-tech industries). Or selective attention has been paid to either the internal sources or the external contacts to trigger innovation. And when a conclusive study has been conducted into investigating both the effect of internal and external ties on innovation, the sample often includes large and established companies and managers (instead of entrepreneurs and smaller firms, as what we are interested in). The main line of reasoning in this paper is as follows. In the first section we discuss the key network concepts, such as, social capital, relational embeddedness (strong and weak ties), structural embeddedness (i.e. structural holes). Section two deals with innovation and the central role of knowledge in the discovery and realisation of innovations. Social networks and its potential for knowledge brokering appear to be important and therefore the last section focuses on the relationship between particular network characteristics and innovation. |
| Keywords: | entrepreneurship;innovation;social capital;networking;small- and medium-sized firms;James Dyson |
| Date: | 2008–07–21 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:eureri:1765012873&r=ent |
| By: | Simone Tuor (Institute for Strategy and Business Economics, University of Zurich); Uschi Backes-Gellner (Institute for Strategy and Business Economics, University of Zurich) |
| Abstract: | This paper investigates the rates of return and the risks of different types of educational paths after compulsory education. We distinguish a purely academic educational path from a purely vocational path and a mixed path with loops through both systems. To study the labor market outcome we compare earnings and calculate net return rates as well as risk measures to investigate whether different educational paths are characterized by different risk-return trade-offs. We use Lazear’s jack-of-all-trades theory on entrepreneurship to derive testable predictions about the labour market outcome of different combinations of education for entrepreneurs and employees. Our empirical results are based on the Swiss Labor Force Survey (SLFS) and demonstrate that mixed educational paths are well rewarded in the labor market. However, a high return is also associated with a high income variance which is driven by those who end up as entrepreneurs. |
| Keywords: | risk-return trade-off, complete educational paths, occupational choice |
| JEL: | J24 I21 M53 |
| Date: | 2008–06 |
| URL: | http://d.repec.org/n?u=RePEc:iso:educat:0031&r=ent |