nep-ent New Economics Papers
on Entrepreneurship
Issue of 2010‒07‒10
three papers chosen by
Marcus Dejardin
Notre-Dame de la Paix University

  1. How Diverse is Entrepreneurship? Observations on the social heterogeneity of self-employment in Germany By Bögenhold, Dieter; Fachinger, Uwe
  2. A parsimonious default prediction model for Italian SMEs By Chiara Pederzoli; Costanza Torricelli
  3. Does history matter for the relationship between R&D, Innovation and Productivity? By Huergo , E; Moreno, L

  1. By: Bögenhold, Dieter; Fachinger, Uwe
    Abstract: The discussion on entrepreneurship often treats entrepreneurs as agents of ideas of economic change and growth. Entrepreneurs are considered to serve as potential multipliers delivering individual and social wealth and prosperity. In that context entrepreneurship has been treated as a rather homogenous category, internal differences were not in the focus of academic talk. In public policy discourse entrepreneurship and the labour market category of self-employment are often used interchangeably. Images and interpretation of self-employment are mostly based on comparison of self-employment with other categories of wage or salary dependent labour market groups. This way self-employed people prove to become an averaged one-type figure. The proposed paper wants to highlight the other side of economic and social reality: the heterogeneity of self-employment. Referring to empirical data for the case of Germany the argumentation intends to illuminate different levels of social and economic integration of self-employed people. Working parameters and firm sizes, economic sectors of activity, income patterns, working hours and biographies have diversified and became increasingly heterogeneous so that further discussion is ultimately provoked: Which entrepreneurship are we talking about when talking entrepreneurship? Where are links between different fractions of the category of self-employment compared to each other and to other socio-economic groups? The contribution must be regarded as a theoretical and empirical task to connect entrepreneurship with debate on innovation, culture and finance.
    Keywords: self-employment; heterogeneity; entrepreneurship
    JEL: D01 J23
    Date: 2010–05
  2. By: Chiara Pederzoli; Costanza Torricelli
    Abstract: In the light of the fundamental role played by small and medium enterprises (SMEs) in the economy of many countries including Italy and of the specific treatment of this issue within the Basel II regulation, the aim of this work is to build a default prediction model for the Italian SMEs. Specifically, we develop a logit model based on financial ratios: using the AIDA database, we focus the attention on a specific region in Italy, Emilia Romagna, where SMEs represent the firms’ majority . We find that a parsimonious model based on only four explanatory variables fits well the default data.
    Keywords: credit default prediction; SMEs; Basel II
    JEL: G28 G31
    Date: 2010–06
  3. By: Huergo , E; Moreno, L
    Abstract: This paper analyzes the relationship between R&D expenditures, innovation and productivity growth, taking into account the possibility of persistence in firms’ behaviour. We study this relationship for a sample of Spanish manufacturing firms between 1990 and 2005, estimating a model with four equations: participation in technological activities, R&D intensity, the generation of innovations and the impact of these technological outputs on total factor productivity growth. Our results reflect the existence of true state dependence both in the decision of R&D investment and in the production of innovations. The omission of this persistence leads to an overestimation of the current impact of innovations on productivity growth. However, the presence of persistence in technological inputs and outputs entails current R&D activities having long–run effects on a firm’s productivity.
    Keywords: CDM model; productivity growth; persistence in R&D and innovation.
    JEL: L6 D24 O3
    Date: 2010–05–10

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