nep-ent New Economics Papers
on Entrepreneurship
Issue of 2009‒07‒17
seven papers chosen by
Marcus Dejardin
Notre-Dame de la Paix University

  1. Novel Opportunity Exploitation: Impact of Personality, Environment and Uncertainty Avoidance Culture By Lee, Lena; Wong, Poh Kam
  2. Entrepreneurial orientation, organizational learning capability and performance in the ceramic tiles industry By Joaquín Alegre; Ricardo Chiva
  3. Bohemians, Human Capital, and Regional Economic Growth By Oliver Falck; Michael Fritsch; Stephan Heblich
  4. Entrepreneurship in the Netherlands; Ten years entrepreneurship policy: a global overview By EIM
  5. Technology diffusion and growth By Erzo G.J. Luttmer
  6. Who captures who? Long-lasting bank relationships and growth of firms By Alessandro GAMBINI; Alberto ZAZZARO
  7. International Entrepreneurship and Technology Transfer: The CDM´s Reality in China By Aleluia, João; Leitão, João

  1. By: Lee, Lena; Wong, Poh Kam
    Abstract: This study shows that the joint effects of the entrepreneur’s personality and an unpredictable environment, as well as the interaction effects of a low uncertainty avoidance culture, predict opportunity exploitation. Our study’s findings are consistent with the emerging opportunity-exploiter nexus framework of Shane and Venkataraman, which posits that the rate and nature of entrepreneurial exploitation activities are jointly determined by the nexus of environmental factors that shape the emergence of opportunities and the supply of opportunity-seekers with the right entrepreneurial personalities to exploit such opportunities. Specifically, we found that entrepreneurs who display a high level of extroversion, agreeableness, openness to experience, conscientiousness, and non-neuroticism, have a greater propensity to exploit novel opportunities in unpredictable environments and low uncertainty avoidance cultures. A study involving 570 entrepreneurs from UK, Thailand, and South Korea reveals that the interaction effects between personality and environmental unpredictability is more pronounced in cultures with a low high degree of uncertainty avoidance.
    Keywords: Opportunity exploitation; personality; culture
    JEL: L26 M13
    Date: 2009–07–12
  2. By: Joaquín Alegre (Universitat de València); Ricardo Chiva (Universitat Jaume I)
    Abstract: La orientación emprendedora es susceptible de tener un impacto positivo sobre el desempeño de la empresa. Sin embargo, empíricamente esta relación directa no es completamente consistente. Proponemos el desempeño innovador como una variable intermedia y, además, argumentamos que la relación entre orientación emprendedora y desempeño innovador no es incondicional, sino dependiente de la capacidad de aprendizaje organizativo. Utilizamos modelos de ecuaciones estructurales para contrastar nuestras hipótesis sobre la industria cerámica italiana y española. Los resultados sugieren que (1) el desempeño innovador actúa como una variable mediadora entre la orientación emprendedora y el desempeño de la empresa; (2) la orientación emprendedora puede ser considerada como un antecedente de la capacidad de aprendizaje organizativo; y (3) la capacidad de aprendizaje organizativo juega un papel importante en la determinación de los efectos de la orientación emprendedora sobre el desempeño. Finalmente, señalamos las limitaciones del estudio y proponemos futuras líneas de investigación. Entrepreneurial orientation is considered to have a positive impact on firm performance. However, this direct relationship does not seem to be empirically conclusive. In our research we consider innovation performance as an intermediate variable, and explain that the relationship between entrepreneurial orientation and innovation performance is not unconditional, but subject to organizational learning capability. Structural equation modeling has been used to test our research hypotheses on a data set from the Italian and Spanish ceramic tile industry. Results suggest that (1) innovation performance acts as a mediating variable between entrepreneurial orientation and firm performance; (2) entrepreneurial orientation can be considered as an antecedent of organizational learning capability; and (3) organizational learning capability plays a significant role in determining the effects of entrepreneurial orientation on innovation performance. Finally, we highlight our study¿s limitations and we posit avenues for future research.
    Keywords: Entrepreneurial orientation, organizational learning capability, performance. Orientación emprendedora, capacidad de aprendizaje organizativo, desempeño.
    JEL: L26 L61
    Date: 2009–07
  3. By: Oliver Falck (Ifo Institute for Economic Research, Munich.); Michael Fritsch (University of Jena, School of Economics and Business Administration, and Max Planck Institute of Economics, and German Institute for Economic Research (DIW)); Stephan Heblich (Max Planck Institute of Economics, Jena; Entrepreneurship, Growth, and Public Policy Group)
    Abstract: An emerging literature on the geography of bohemians argues that a region's lifestyle and cultural amenities explain, at least partly, the unequal distribution of highly qualified people across space, which in turn, explains geographic disparities in economic growth. However, to date, there has been little or no empirical attempt to identify a causal relation. To identify the causal impact of bohemians on economic growth, we apply an instrumental variable approach using as an exogenous instrument the geographic distribution of bohemians prior to the Industrial Revolution in Germany. This distribution was primary the result of competition for prestige between courts and not of economic prosperity. Accordingly, the instrument is independent of today's regional economic development. Focusing on the concentration of highly skilled people today that is explained by the proximity to exogenous concentrations of bohemians, the observed local average treatment effect supports the hypothesis of a positive impact of bohemians on regional economic development.
    Keywords: Regional Growth, Human Capital, Bohemians, Instrumental Variables
    JEL: R11 J24 C31
    Date: 2009–07–06
  4. By: EIM
    Abstract: This report is the tenth edition of the series “Entrepreneurship in the Netherlands“, with the first edition being published in 1997. These series are a co-production of the Ministry of Economic Affairs, EIM Business & Policy Research and international entrepreneurship experts. In each edition, a specific aspect of entrepreneurship is studied, such as; nascent entrepreneurship, fast-growing enterprises and high-tech start-ups. Previous aspects reviewed are; entrepreneurship and competitiveness, ambitious entrepreneurs, nascent entrepreneurs, entrepreneurship in the new economy, innovative entrepreneurship, business transfer, high-growth and the quality of entrepreneurship. The tenth edition focuses on the entrepreneurship and entrepreneurship policies that have been developed world-wide in the past 10 years.
    Date: 2009–02–05
  5. By: Erzo G.J. Luttmer
    Abstract: Suppose firms are subject to decreasing returns and permanent idiosyncratic productivity shocks. Suppose also firms can only stay in business by continuously paying a fixed cost. New firms can enter. Firms with a history of relatively good productivity shocks tend to survive and others are forced to exit. This paper identifies assumptions about entry that guarantee a stationary firm size distribution and lead to balanced growth. The range of technology diffusion mechanisms that can be considered is greatly expanded relative to previous work. High entry costs slow down the selection process and imply slow aggregate growth. They also push the firm size distribution in the direction of Zipf's law.
    Keywords: Technology ; Productivity
    Date: 2009
  6. By: Alessandro GAMBINI (Universita' Politecnica delle Marche, Dipartimento di Economia); Alberto ZAZZARO (Universita' Politecnica delle Marche, Dipartimento di Economia)
    Abstract: The theoretical literature has identified potential benefits and costs of close bank-firm relationships for both parties, suggesting possible reasons for firms being captured by banks and vice versa. In this paper we empirically explore the effects of long-lasting credit relationships on employment and asset growth of a large sample of Italian manufacturing firms in the period 1998-2003. The main findings are that relationship lending hampers the efforts of small firms to increase their size (especially in terms of employees), while it mitigates the negative growth of troubled, medium-large enterprises, thus supporting the hypothesis that small firms are captured by banks which, in turn, are captured by large firms.
    Keywords: Capture effetcs, Firms' growth, Relationship lending
    JEL: G21 G34
    Date: 2009–07
  7. By: Aleluia, João; Leitão, João
    Abstract: Entrepreneurship as a determinant of economic growth and innovation intensity has been increasingly used by governments for shaping public policies with sustainable development purposes. This chapter positions the Clean Development Mechanism as an example of an international technology transfer mechanism that can stimulate knowledge spillovers in the host economies. Taking as reference the Chinese context, a benchmarking approach is proposed to assess the performance of distinct mechanisms of climate friendly technology transfers. This is particularly relevant since it is an innovative attempt for addressing the caveat found in the literature of international entrepreneurship and technology transfer, especially focused in the need for developing both qualitative and quantitative analyses about distinct experiences in adopting technology transfer mechanisms into developing countries. This is useful not only in the scope of global efforts to mitigate the emission of greenhouse gases, but also in the accomplishment of sustainable development goals of host economies. Moreover, from the current proposal an operative tool is derived for guiding the action of policy makers, managers and practitioners engaged in the field of Energy Entrepreneurship.
    Keywords: Benchmarking; Clean Development Mechanism; CDM; International Entrepreneurship; Technology Transfer.
    JEL: O34 F23 L26 L24
    Date: 2009–06–15

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