nep-ent New Economics Papers
on Entrepreneurship
Issue of 2009‒05‒02
five papers chosen by
Marcus Dejardin
Notre-Dame de la Paix University

  1. Entrepreneurs, Inventors and the Growth of the Economy By William J. Baumol
  2. Entrepreneurship and Income Inequality in Southern Ethiopia By Kimhi, Ayal
  3. Does the Participation in the Microcredit Programs Contribute to the Development of Women Entrepreneurship at the Household Level? Experience from Bangladesh By Chowdhury, M. Jahangir Alam
  4. The Impact of Trade Costs on Firm Entry, Exporting, and Survival in Korea By Kim, Sooil; Reimer, Jeffrey J.; gopinath, Munisamy
  5. Private Placements by Small Public Entities: Canadian Experience By Cécile Carpentier; Jean-Marc Suret

  1. By: William J. Baumol (New York University / Princeton University)
    Abstract: Part of the Supplemental Materials for INNOVATION AND U.S. COMPETITIVENESS, The Conference Board report #R-1441-09-RR. About the Report: The Conference Board has recently undertaken a project on innovation and competitiveness, with funding from Microsoft Corporation. The goal of the project is to provide an overview of the current state of knowledge on the nature of innovation, and its role in stimulating economic growth and improved living standards in the U.S. The project draws on experts across the academic, corporate, and policy arenas, in addition to The Conference Board’s own analysis, surveys, and focus groups of the business community. Such experts met in February 2007 to present and discuss various aspects of the innovation process and measurement thereof. Each presenter wrote a summary piece focusing on his respective area of expertise. These summary documents underpin the content in Innovation and U.S. Competitiveness; however the conclusions drawn are those of The Conference Board alone. These papers are retained for reference in The Conference Board Economics Program Working Paper Series.
    Date: 2008–12
  2. By: Kimhi, Ayal
    Abstract: This paper uses inequality decomposition techniques in order to analyze the consequences of entrepreneurial activities to household income inequality in Southern Ethiopia. A uniform increase in entrepreneurial income reduces per capita household income inequality. This implies that encouraging rural entrepreneurship may be favorable for both income growth and income distribution. Such policies could be particularly successful if directed at the low-income, low-wealth, and relatively uneducated segments of the society.
    Date: 2009–02
  3. By: Chowdhury, M. Jahangir Alam
    Keywords: Microcredit, Women Entrepreneurship Development, Bangladesh, Consumer/Household Economics,
    Date: 2008–07–15
  4. By: Kim, Sooil; Reimer, Jeffrey J.; gopinath, Munisamy
    Abstract: This study uses a unique firm-level dataset to examine how falling trade costs from 1993-2001 affected entry, exit, productivity, and exporting in the Korean manufacturing sector. We verify many of the predictions of recent heterogeneous-firm models of international trade. For example, falling trade costs reduced entry by new Korean firms, increased their probability of exit, and reduced the market share of surviving firms. We also find that small firms had a particularly high level of dynamism over the sample period. Small firms were more likely to enter and exit, and marginally more likely to gain market share, enter export markets for the first time, and improve their productivity.
    Keywords: Employment, Exit, Exports, Firm deaths, Survival, Trade costs, Agribusiness, Industrial Organization, International Development, International Relations/Trade, Labor and Human Capital, Marketing, Production Economics, Productivity Analysis, Research and Development/Tech Change/Emerging Technologies, F10, D24,
    Date: 2009
  5. By: Cécile Carpentier; Jean-Marc Suret
    Abstract: In Canada, most of the private placements are offered by small and unprofitable entrepreneurial ventures -- for which the asymmetry of information and adverse selection problems are particularly acute. Private placements are a very important source of equity for these emerging businesses. In contrast with the public offering process, placements of shares are made in the exempt market with accredited or sophisticated investors. It is assumed that these investors would be knowledgeable enough to protect their own interests. The aim of this paper is to analyze the extent to which such private placements can be considered “fair”, i.e. if they provide investors with a fair rate of return and if accredited investors are indeed able to price these placements correctly in a context of large asymmetry of information. The answer is clearly negative. <P>Au Canada, la majorité des placements privés sont émis par de petites entreprises en émergence, non rentables. Les problèmes d’asymétrie de l’information et d’anti-sélection sont particulièrement sévères. Les placements privés sont toutefois une source de financement très importante pour ces entreprises. Contrairement aux offres publiques, les placements privés sont émis dans le cadre du régime d’exemption, auprès d’investisseurs agréés dont on considère qu’ils ont les connaissances requises pour veiller à leurs intérêts financiers. L’objectif de l’étude est de déterminer dans quelle mesure les placements privés procurent un taux de rendement équitable aux investisseurs et si les investisseurs agréés sont en mesure d’apprécier correctement la valeur de ce type d’investissement. La réponse est négative.
    Keywords: Private placements, SME, securities regulation, public policies, financing, Placement privé, petites entreprises, réglementation des valeurs mobilières, politiques publiques, financement
    Date: 2009–04–01

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