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on Entrepreneurship |
| By: | Block, Joern; Sandner, Philipp; Spiegel, Frank |
| Abstract: | The notion of risk and entrepreneurship has been widely discussed in the entrepreneurship literature. Starting a business involves risk and requires a risk-taking attitude. Most studies have com-pared entrepreneurs with non-entrepreneurs such as managers or bankers. So far, little research exists on the risk attitudes of different types of entrepreneurs. This study aims to fill this gap. Our particular focus is on the entrepreneurs’ motivations to start their business. The results show that opportunity entrepreneurs are more willing to take risks than necessity entrepreneurs. In addition, entrepreneurs who are motivated by creativity are more risk-tolerant than other entrepreneurs. The study contributes to the literature about risk attitudes of entrepreneurs and to the literature about necessity and opportunity entrepreneurship. |
| Keywords: | Entrepreneurship; Self-employment; Risk attitude; Necessity entrepreneurship; Creativity entrepreneurship |
| JEL: | L26 M13 J23 |
| Date: | 2009–09–29 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:17587&r=ent |
| By: | André van Stel; Roy Thurik; Erik Stam; Chantal Hartog |
| Abstract: | We estimate the impact of ambitious entrepreneurship (entrepreneurs expecting to grow their firm) and high-growth firms (firms that have actually realized high growth rates) on subsequent macroeconomic growth for a sample of countries participating in the Global Entrepreneurship Monitor between 2002-2005. We find that ambitious entrepreneurship has a positive impact on macroeconomic growth. This effect is stronger than that of entrepreneurship in general. Surprisingly, this effect of ambitious entrepreneurship is stronger in low-income countries than in high-income countries. Established high-growth firms do not seem to drive macroeconomic growth. |
| Date: | 2009–09–25 |
| URL: | http://d.repec.org/n?u=RePEc:eim:papers:h200911&r=ent |
| By: | Kobayashi, Teruyoshi |
| Abstract: | This paper presents an additional credit channel for monetary policy that would arise in the presence of credit rationing. I formally examine a situation in which new entry firms have no choice but to borrow funds from a financial intermediary to cover entry costs, taking into account the fact that most of the small and young firms are bank dependent in practice. It turns out that the presence of nominal debt contracts allows the central bank to influence firm entry and thereby aggregate output through its effect on the severity of credit rationing even in the absence of price stickiness. This is because a decrease in the nominal interest rate reduces the cost of funds for lending, which enables financial intermediaries to extend credit to less creditworthy firms. This ``credit rationing effect" is absent in the conventional balance-sheet channel, where loan rates are determined such that credit demand is equal to credit supply. |
| Keywords: | credit channel; credit rationing; firm entry; monetary policy transmission. |
| JEL: | E32 E52 E44 |
| Date: | 2009–09–28 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:17553&r=ent |
| By: | Erik Stam |
| Abstract: | This chapter is an inquiry into the role of entrepreneurship in evolutionary economic geography. The focus is on how and why entrepreneurship is a distinctly spatially uneven process. We will start with a discussion on the role of entrepreneurship in the theory of economic evolution. Next, we will review the empirical literature on the geography of entrepreneurship. The chapter concludes with a discussion of a future agenda for the study of entrepreneurship within evolutionary economic geography. |
| Keywords: | entrepreneurship, evolution, geography |
| JEL: | R0 M13 R11 |
| Date: | 2009–09 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:0913&r=ent |
| By: | Faraha Nawaz (Department of Public Administration, Rajshahi University) |
| Abstract: | The paper aims to analyze the critical factors of women entrepreneurship development in rural Bangladesh. The analysis is based on recent theoretical ideas that have been supported by empirical research findings. The paper depicts an analytical framework based on institutional theory, which focuses on three kinds of factors: regulative, normative, and cognitive. Regulative factors refer to different rules and regulations of the Government that facilitate women entrepreneurship development in rural Bangladesh. Normative and cognitive factors include norms, rules, regulation, and values of society. Based on the analysis of these factors, the paper provides many significant policy implications on how to improve women entrepreneurship development in rural Bangladesh. |
| Keywords: | Bangladesh, women, entrepreneuship, development |
| Date: | 2009–05 |
| URL: | http://d.repec.org/n?u=RePEc:bnr:wpaper:5&r=ent |
| By: | Yamori, Nobuyoshi |
| Abstract: | The increased diversification of fund rising methods among small and medium-sized businesses has been a major policy challenge in recent years, and private financial institutions are proactively striving to disseminate new financial technologies. However, this does not necessarily mean that every small and medium-sized business benefits from such technologies. It is difficult to analyze this aspect based on ready-made data. Fortunately, this paper can analyze the current status and challenges of the utilization of new financial products among small and medium-sized businesses by using unique survey questionnaires (Kansai RIETI Questionnaires). The results of responses from more than 2,000 companies showed that most companies began utilizing new financial products due to introductions by main banks, and it was seen that the diversification of fund rising methods among small and medium-sized businesses has developed as a result of efforts made by policy-making authorities and financial institutions. However, the rate of utilization of each financial method is as low as a few percentage points, and extremely small businesses or cash-strapped companies has not improved in terms of fund risings. Improved diversification was mainly found in excellent small and medium-sized businesses. |
| Keywords: | Financing Products; SME Finance; Relationship Banking; Main Bank. |
| JEL: | G32 G21 |
| Date: | 2009–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:17494&r=ent |
| By: | Juan Cristóbal Birbuet (Centre for the Promotion of Sustainable Technologies (CPTS)); Carlos Gustavo Machicado (Institute for Advanced Development Studies) |
| Abstract: | In this case study performed on the industrial sub-sector of manufacture of leather shoes in Bolivia, we use the Hsieh and Klenow model (2008) to determine the differences between productivity of larger and formal companies and productivity of smaller and informal companies. Our results reveal that there are not many differences in terms of productivity among these types of companies. We think that informality is indeed the most important factor that contributes to this phenomenon. Apparently, the decrease in costs associated with informality compensates to some extend the economies of scale of formal companies with bigger dimensions and better technology. A notable fact in the shoe manufacturing industry is that it had experienced an atomization process in the last years. This trend is the consequence of a progressive creation of many small informal companies instead of the consolidation of this industry in medium and large formal companies. In a way, informality has contributed to this process. First, because it allows the survival of less productive companies that if they were not informal, they would have to bear costs that would not allow them to continue in business. Second, because informality creates strong incentives for employees to start their own business. In the other hand, many costs associated to formality discourage legally operating companies to employ more people, raise capital and growth. |
| Keywords: | Productivity, Informality, Bolivia |
| JEL: | D24 L1 L6 |
| Date: | 2009–08 |
| URL: | http://d.repec.org/n?u=RePEc:adv:wpaper:200908&r=ent |