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on Entrepreneurship |
| By: | Henrekson, Magnus (Research Institute of Industrial Economics (IFN)); Johansson, Dan (Ratio); Stenkula, Mikael (Research Institute of Industrial Economics (IFN)) |
| Abstract: | Public policy affects the prevalence and performance of both productive and high-impact entrepreneurship. High-impact entrepreneurship prospers when knowledge is successfully generated and exploited in the economy. This process depends on complementary key ac-tors who use their competencies in what we denote a competence bloc. Although variations in economic contexts make prescribing a general panacea impossible, a number of relevant policy areas that affect key actors can be identified. In this paper this is done in the areas of tax policy and labor market policy. It is shown that high and/or distortive taxes and heavy labor market regulations impinge on the creation and functioning of competence blocs, thereby reducing high-impact entrepreneurship. |
| Keywords: | Entrepreneurship; Gazelles; High-growth firms; High-impact entrepreneurship Innovation; Institutions; Labor market policy; Tax policy |
| JEL: | H32 L25 L50 M13 O31 P14 |
| Date: | 2010–03–23 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:0826&r=ent |
| By: | Christian Schröder (EUropäisches Institut für Internationale Wirtschaftsbeziehungen (EIIW)) |
| Abstract: | This paper highlights the role of financial development in producing innovative products and services. Venture Capitalists (VCs) seem to play a crucial role in achieving product and service innovation. Young entrepreneurs particularly face the problem of financial constraints if starting their business, and risk capital could be their sole solution. However, the level of early-stage venture capital (VC) investments across European countries differ profoundly. I employ a panel analysis to illustrate whether technical and innovative opportunities as well as entrepreneurial environment influence early-stage venture capital investments. In addition, I emphasize the role of the financial system in attracting early stage VC. The empirical analysis was conducted in 15 European countries and looked at the period from 1995 to 2005. The results show that technical and innovation opportunities as well as entrepreneurial environment influence the level of early-stage risk capital. Taking the financial system also into account, the analysis revealed that a bank-based system has a negative impact on the relative amount of early stage VC investments, as a market-based system attracts risk capital for young entrepreneurs. Assumedly, venture capital and debt provided by banks are found not to be complements but rather substitutes. |
| Keywords: | Early Stage Venture Capital, Risk Capital, Financial System, Financing Innovations |
| JEL: | G23 |
| Date: | 2009–10 |
| URL: | http://d.repec.org/n?u=RePEc:bwu:eiiwdp:disbei167&r=ent |
| By: | Abraham George |
| Abstract: | The concept of social entrepreneurship as a characterization of social responsibility for business organizations has gained considerable popularity. There is growing belief in international development and donor communities that this form of for-profit activity might be the long-sought panacea for solving poverty at the so-called Base of the Pyramid (BoP) -- the poorest segment of the society. Yet, there is no consensus within these communities as to what constitutes social entrepreneurship, and how the BoP is defined. Confusion arises from the absence of generally accepted definitions for both terms, leaving much scope for some conventional for-profit activities to assert a higher social service status. This paper attempts to clarify what constitutes social entrepreneurship serving the BOP segment of the population, and how the BoP may be defined to better represent the poor. |
| Keywords: | social entrepreneurship, bottom of the pyramid, poverty alleviation |
| JEL: | O10 |
| Date: | 2009–12–15 |
| URL: | http://d.repec.org/n?u=RePEc:wdi:papers:2009-972&r=ent |