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on Entrepreneurship |
| By: | Verheul, I.; Block, J.H.; Burmeister-Lamp, K.; Thurik, A.R.; Tiemeier, H.; Turturea, R. |
| Abstract: | This study examines the relationship between AD/HD symptoms and entrepreneurship intentions in a sample of 13,121 students in higher education. We show that the degree to which students experience AD/HD symptoms increases the likelihood of intending to start up a business directly after completion of their studies. We also find evidence of partial mediation for two salient motives for entrepreneurship: students with AD/HD symptoms place a relatively high value on independence and innovation, partly explaining their preference for an entrepreneurial career. |
| Keywords: | entrepreneurship;innovation;AD/HD;career intentions;independ |
| Date: | 2012–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:eureri:1765037266&r=ent |
| By: | Randy A. Becker; Ronald J. Shadbegian; Carl Pasurka |
| Abstract: | It remains an open question whether the impact of environmental regulations differs by the size of the business. Such differences might be expected because of statutory, enforcement, and/or compliance asymmetries. Here, we consider the net effect of these three asymmetries, by estimating the relationship between plant size and pollution abatement expenditures, using establishment-level data on U.S. manufacturers from the Census Bureau’s Pollution Abatement Costs and Expenditures (PACE) surveys of 1974-1982, 1984-1986, 1988-1994, 1999, and 2005, combined with data from the Annual Survey of Manufactures and Census of Manufactures. We model establishments’ PAOC intensity – that is, their pollution abatement operating costs per unit of economic activity – as a function of establishment size, industry, and year. Our results show that PAOC intensity increases with establishment size. We also find that larger firms spend more per unit of output than do smaller firms. |
| Keywords: | Environmental Regulation, costs, Business size, U. S.manufactoring |
| JEL: | L51 L60 Q52 |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:nev:wpaper:wp201206&r=ent |
| By: | Ugo Rizzo; Francesco Nicolli; Laura Ramaciotti |
| Abstract: | This work investigates the variety of development processes of start up firms in a regional setting. The existing literature on entrepreneurship lacks accurate analysis of the processes that lead an idea of business to become an established firm. The present paper moves one step towards filling this gap by dynamically investigating the process development of a self-contained population of 78 new technology based firms (NTBFs) in the North Italian region of Emilia-Romagna. By clustering the firms in similar organisational configurations at three different points in time, the results show that it is possible to observe that firms develop along different, sometimes overlapping paths. Our findings contributes to the understanding of the dynamics of the entrepreneurial process and lead to important policy implications. |
| Keywords: | Entrepreneurship; Firm development process; New technology-based firms; Start-ups; Regional policies; Cluster analysis |
| JEL: | L26 L53 O32 O38 |
| Date: | 2012–09–22 |
| URL: | http://d.repec.org/n?u=RePEc:udf:wpaper:201213&r=ent |
| By: | Daria Ciriaci (JRC-IPTS); Pietro Moncada-Paternò-Castello (JRC-IPTS); Peter Voigt (Institut d'Economia de Barcelona, IEB) |
| Abstract: | This study examines serial correlation in employment, sales and innovative sales growth rates in a balanced panel of 3,300 Spanish firms over the years 2002-2009, obtained by matching different waves of the Spanish Encuesta sobre Innovacion en las Empresas, the Spanish innovation survey conducted annually by the Spanish National Statistics Institute (INE). The main objective is to verify whether the changes (increase/decrease) in these figures are persistent over time, whether such persistence (if any) differs between SMEs and larger firms, and if it is affected by a firm's age. To do so, we adopted a semi-parametric quantile regression approach. This methodology is well suited to cases where outliers (high-growth firms) are the subject of investigation and/or when they have to be assumed as being very heterogeneous. Empirical results indicate that among those innovative firms experiencing high employment growth, the smaller and younger grow faster than larger firms, but the jobs they create are not persistent over time. However, while being smaller and younger helps growing more in terms of employment and sales, it is not an advantage when innovative sales growth is considered: in this case larger firms experience faster growth. |
| Keywords: | Serial correlation; quantile regression model; Spanish firms; firm size, firm age; job creation; fast growing firms |
| JEL: | L11 L25 |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:wpaper:201203&r=ent |
| By: | Carlsson, Bo (Case Western Reserve University, Weatherhead School of Management, Department of Economics); Braunerhjelm, Pontus (CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology); McKelvey, Maureen (RIDE and Institute of Innovation and Entrepreneurship); Olofsson , Christer; Persson , Lars; Ylinenpää, Håkan |
| Abstract: | Research on entrepreneurship has flourished in recent years and is evolving rapidly. This paper explores the history of entrepreneurship research, how the research domain has evolved, and its current status as an academic field. The need to concretize these issues stems partly from a general interest to define the current research domain, partly from the more specific tasks confronting the prize committee of the Global Award for Entrepreneurship Research. Entrepreneurship has developed in many sub-fields within several disciplines - primarily economics, management/business administration, sociology, psychology, economic and cultural anthropology, business history, strategy, marketing, finance, and geography - representing a variety of research traditions, perspectives, and methods. We present an analytical framework that organizes our thinking about the domain of entrepreneurship research, by specifying elements, levels of analysis and the process/context. An overview is provided of where the field stands today and how it is positioned relative to the existing disciplines and new research fields upon which it draws. Areas needed for future progress are highlighted, particularly the need for a rigorous dynamic theory of entrepreneurship that relates entrepreneurial activity to economic growth and human welfare. Moreover, applied work based on more careful design as well as on theoretical models yielding more credible and robust estimates seems also highly warranted. |
| Keywords: | Entrepreneurship; innovation; evolution; inter-disciplinary |
| JEL: | B53 L10 L26 O30 |
| Date: | 2012–09–26 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0284&r=ent |
| By: | Göbel, Kristin (University of Hamburg); Grimm, Michael (University of Passau); Lay, Jann (University of Göttingen) |
| Abstract: | We investigate the returns to capital and capital accumulation using panel data of Peruvian micro enterprises (MEs). Marginal returns to capital are found to be very high at low levels of capital, but rapidly decreasing at higher levels. The dynamic analyses of capital accumulation in MEs suggest that credit constraints explain a major part of the variation in firm growth. We find a very large positive effect of household non-business wealth on capital stocks of MEs. We also show a sizable effect of risk on accumulation and pronounced interactions between wealth and risk. The presented evidence is consistent with poorly endowed entrepreneurs who operate in imperfect capital markets and a very risky environment. |
| Keywords: | micro and small enterprises, credit constraints, risk, risk aversion, firm growth, Peru |
| JEL: | D13 D61 O12 |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp6866&r=ent |
| By: | Holton, Sarah (Central Bank of Ireland); McCann, Fergal (Central Bank of Ireland) |
| Abstract: | This letter provides a consistent picture of Irish SME credit supply and demand up to March 2012 across two data sources: the European Commission and European Central Bank Survey of Access to Finance of Small and Medium Enterprises (SAFE) and the Mazars SME lending demand survey, commissioned by the Department of Finance. The data report that the Irish rejection rate for credit applications is the second highest in the euro area, while Irish SMEs are among the most likely to have faced increased collateral requirements, increased interest rates, or lower loan quantities. On the demand side, the data depict Irish credit demand, as measured by changes in firms’ reported need for external financing, to be at or close to the euro area average, while application rates for credit are slightly lower than average. The difference between Ireland’s ranking on demand and application rates is partly explained by a share of discouraged borrowers, who have demand for credit but do not apply for credit, that is double the euro area average. |
| Date: | 2012–08 |
| URL: | http://d.repec.org/n?u=RePEc:cbi:ecolet:08/el/12&r=ent |
| By: | Philippe Desbrières (Université de Bourgogne) |
| Abstract: | (VF)Le financement par fonds propres des firmes entrepreneuriales a fait l’objet d’une littérature foisonnante depuis les années 1980. Dans un premier temps, ce chapitre est consacré au courant de la finance entrepreneuriale, qui s’est essentiellement focalisé sur les problématiques liées au différentiel d’informations existant entre capital-investisseurs et entrepreneurs et sur les mécanismes de gouvernance disciplinaires mis en place en réponse. Mais ces travaux ignorent la notion de connaissance, pourtant centrale dans la relation établie entre capital-investisseurs et entrepreneurs, qui ne partagent pas tous le même modèle cognitif. La seconde partie de l'article est donc centrée sur la littérature stratégique qui a largement contribué à l’enrichissement des approches classiques de la finance entrepreneuriale en étudiant le rôle de soutien et d’orientation de ces investisseurs et en renouvelant la compréhension de leur contribution au processus de création de richesse des firmes qu’ils financent, de même que celle du système de gouvernance des firmes entrepreneuriales qui prend une orientation cognitive majeure. (VA)The equity financing of entrepreneurial firms has been a growing literature since the 1980s. This paper is firstly devoted to current entrepreneurial finance, which has mainly focused on issues related to the differential information between entrepreneurs and investors and on governance mechanisms in place in response. But these studies ignore the notion of knowledge, yet central to the relationship between venture capitalists and entrepreneurs, who do not have the same cognitive model. The second section is focused on the strategic literature which has largely contributed to the enrichment of traditional approaches to entrepreneurial finance by studying the role of support and advice to investors and renewing the understanding of their contribution to the process wealth creation of the firms they fund, as well as the governance system of entrepreneurial firms that takes a major cognitive orientation. |
| Keywords: | finance entrepreneuriale;stratégie;gouvernance d’entreprise;vision disciplinaire;vision cognitive;entrepreneurial finance;strategy;corporate governance;disciplinary view;cognitive view. |
| JEL: | G30 P50 |
| Date: | 2012–08 |
| URL: | http://d.repec.org/n?u=RePEc:dij:wpfarg:1120801&r=ent |