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on Entrepreneurship |
| By: | Sean Patrick Sassmannshausen (Schumpeter School of Business and Economics Wuppertal University, Germany); Christine Volkmann (Schumpeter School of Business and Economics Wuppertal University, Germany) |
| Abstract: | This paper provides an overview on the state of art of research on social entrepreneurship and the establishment of this topic in the academic world. It uses scientometric methods, especially bibliometrics, in measuring the maturity of social entrepreneurship research. The empirical part reveals the increasing number of literature, the institutionalization of social entrepreneurship in seven dimensions, the emergence of thematic clusters, and methodological issue. The paper makes concrete suggestions on how to overcome methodological challenges at the boarder of advanced qualitative and early quantitative research designs. Using Harzing’s “Publish or Perish” software this article furthermore provides a ranking of the 20 most cited academic contributions in social entrepreneurship. Surprisingly, almost half of the most cited papers have not been published in journals but in books, rising doubts on the current (over-)rating of journal publications. |
| Keywords: | Social entrepreneurship, bibliometric study, citations, review, organizational establishment, academic institutionalization, development of empirical measurement scales |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:bwu:schdps:sdp13003&r=ent |
| By: | Daron Acemoglu; Ufuk Akcigit; Nicholas Bloom; William R. Kerr |
| Abstract: | We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A key feature is the selection between high- and low-type firms, which differ in terms of their innovative capacity. We estimate the parameters of the model using detailed US Census micro data on firm-level output, R&D and patenting. The model provides a good fit to the dynamics of firm entry and exit, output and R&D, and its implied elasticities are in the ballpark of a range of micro estimates. We find industrial policy subsidizing either the R&D or the continued operation of incumbents reduces growth and welfare. For example, a subsidy to incumbent R&D equivalent to 5% of GDP reduces welfare by about 1.5% because it deters entry of new high-type firms. On the contrary, substantial improvements (of the order of 5% improvement in welfare) are possible if the continued operation of incumbents is taxed while at the same time R&D by incumbents and new entrants is subsidized. This is because of a strong selection effect: R&D resources (skilled labor) are inefficiently used by low-type incumbent firms. Subsidies to incumbents encourage the survival and expansion of these firms at the expense of potential high-type entrants. We show that optimal policy encourages the exit of low-type firms and supports R&D by high-type incumbents and entry. |
| JEL: | E02 L1 O31 O32 O33 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:18993&r=ent |
| By: | Avdeitchikova , Sofia (CIRCLE, Lund University; Growth Analysis (Swedish Agency for Growth Policy Analysis)); Coenen, Lars (CIRCLE, Lund University; Nordic Institute for Studies in Innovation, Research and Education, Norway) |
| Abstract: | Clean technology is seen as indispensable to solve or at least abate an environmental/energy crisis without abandoning possibilities for progress and economic growth. This, however, does not imply that sustainable development can be readily achieved through a ‘technical fix’. Innovation and commercial introduction of new technology are inherently uncertain processes that fail more often than that they succeed. Studies on the commercialization of new technology in entrepreneurship literature have often failed to explain why some new technologies reach markets while others don’t, as well as why some technological solutions ultimately become industry standards while others quickly disappear from the market. Technology commercialization models are often linear, based on a technology-push logic and focus rather exclusively on micro-level issues such as characteristics of technology and product, entrepreneurial experience and access to resources. This chapter takes stock with a linear perspective to cleantech commercialization processes and, instead, suggests an alternative approach to analyze the entrepreneurial process of commercializing cleantech. In particular, this approach underlines the duality concerning structure and agency that entrepreneurs tend to encounter in the commercialization of cleantech. The objective of this chapter is to identify how agency and structure interplay in the process of commercializing cleantech. To do so, the chapter compares two literatures that each depart from different starting points. Whereas the institutional entrepreneurship literature often departs from the micro-level of individual or organizational action, the socio-technical transitions literature departs from a systems perspective on technological change. The contribution of the chapter lies in making explicit the agency-structure discussion in the different approaches in order to add to our understanding of cleantech as an emergent technological field and the role of entrepreneurs and/or entrepreneurship in shaping this field. By reviewing the recent knowledge development in the area, we also identify two possible ways how these literature streams can enrich each other; namely by incorporating the transition process in institutional entrepreneurship and by incorporating entrepreneurial strategies in socio-technical transitions. |
| Keywords: | cleantech; technology entrepreneurship; sustainability transitions; institutional entrepreneurship |
| JEL: | O31 Q56 |
| Date: | 2013–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2013_006&r=ent |
| By: | John Tang |
| Abstract: | Railroads in Meiji Japan are credited with facilitating factor mobility as well as access to human and financial capital, but the impact on firms is unclear. Using a newly developed firm-level dataset and a difference-in-differences model that exploits the temporal and spatial variation of railroad expansion, I assess the relationship between railways and firm activity across Japan. Results indicate that railroad expansion corresponded with increased firm activity, particularly in manufacturing, although this effect is mitigated in less populous regions. These findings are consistent with industrial agglomeration in areas with larger markets and earlier development among both new and existing establishments. |
| Keywords: | agglomeration, entrepreneurship, firm genealogy, late development |
| JEL: | L26 N75 O53 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:csg:ajrcwp:1302&r=ent |
| By: | Höwer, Daniel |
| Abstract: | Do firms select their main bank relationship according to their risk or risk preferences? Relationship banking is attractive for high risk firms since it improves their access to finance and provides liquidity insurance. Low risk firms instead may not want to bear the additional costs. I employ a nested logit model to study the determinants of the main bank relationship decision by newly established German firms. I find that firms that ask for bank support in case of financial distress are more likely to choose a relationship-oriented bank, such as a public or cooperative bank. Cost sensitive firms are more likely to choose a private bank. But I find no evidence that firms select a bank according to ex ante risk. Transaction oriented banks are not able to attract low risk firms. -- |
| Keywords: | Relationship Banking,Start-up,Entrepreneurship,Financing Choice |
| JEL: | G21 G32 M13 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:13018&r=ent |
| By: | Oriana Bandiera; Robin Burgess; Narayan Das; Selim Gulesci; Imran Rasul; Munshi Sulaiman |
| Abstract: | The world's poorest people lack capital and skills and toil for others in occupations that others shun. Using a large-scale and long-term randomized control trial in Bangladesh this paper demonstrates that sizable transfers of assets and skills enable the poorest women to shift out of agricultural labor and into running small businesses. This shift, which persists and strengthens after assistance is withdrawn, leads to a 38% increase in earnings. Inculcating basic entrepreneurship, where severely disadvantaged women take on occupations which were the preserve of non-poor women, is shown to be a powerful means of transforming the economic lives of the poor. |
| Keywords: | asset transfers, capital constraints, vocational training, occupationalchoice, structural change, poverty. |
| JEL: | O12 I30 D50 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:cep:stieop:43&r=ent |
| By: | Miguel Atienza (IDEAR - ORDHUM - Department of Economics, Universidad Católica del Norte - Chile); Patricio Aroca (IDEAR - Department of Economics, Universidad Católica del Norte - Chile); Robert Stimson (Australian Urban Research Infraestructure Network. Faculty of Architecture, Building and Planning, University of Melbourne VIC 3010, Australia); Roger Stough (George Mason University, School of Public Policy 4400 University Drive, MS6D5 Fairfax, Virginia 22030 USA) |
| Abstract: | In regions whose industrial structure is organized around one or more large firm corporations, the best practices of small and medium enterprises (SMEs) depend on where firms are located in the supply chain. This paper studies 351 SMEs in the Antofagasta Region in Chile between 2007 and 2008, where multinational and public mining companies are the drivers of the local economy and the government is promoting the formation of a mining cluster. Structural equation model (SEM) is used to show that first-tier SME mining suppliers, directly related to large corporations, follow business practices that promote international certification, quality control and investment in innovation, while in contrast second-tier SMEs are more focused on avoiding insolvency and client orientation. These results cast doubt on the formation of a mining cluster in the region and suggest the need for differentiated policies in these two groups of SMEs, especially those related to knowledge transfer. |
| Keywords: | Spatial concentration, growth, urbanization, development |
| JEL: | D22 L25 L72 R11 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:cat:dtecon:dt201311&r=ent |
| By: | Miguel Atienza (IDEAR - ORDHUM - Department of Economics, Universidad Católica del Norte - Chile); Marcelo Lufin Varas (IDEAR - ORDHUM - Department of Economics, Universidad Católica del Norte - Chile); Mauricio Sarrias (IDEAR - Master in Regional Science, Universidad Católica del Norte - Chile) |
| Abstract: | In recent decades, several countries have proposed the promotion of mining clusters as a local development strategy. One of the expected results of this type of policy is the formation of a critical mass of local SMEs able to grow and export internationally. It is assumed that to achieve this result the vertical linkages between mining companies and SMEs favor the growth and competitiveness of local mining suppliers. This assumption, however, has not been verified. This paper analyzes whether the relationship between SME suppliers and large mining companies implies more growth in sales an labor. We study the case of the Antofagasta Region, one of the main miningareas in Latin America, where, since 2001, the government ha been promoting the formation of a mining cluster. We estimate an ordinal Probit model with random parameters, using panel data with a simple of more tan 500 SMEs from the Antofagasta Region, with information from the period 2003-2009. This methodology allows us to estimate whether first and second tier SME suppliers of the mining industry have, on average, better performance tan other SMEs and, also, which is the heterogeneity of results within each of these groups of SMEs. |
| Keywords: | SME, regional development, supply chain, large scale mining, Chile. |
| JEL: | D22 L25 L72 R11 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:cat:dtecon:dt201309&r=ent |
| By: | Stefania De Mitri (Banca d'Italia); Antonio De Socio (Banca d'Italia); Paolo Finaldi Russo (Banca d'Italia); Valentina Nigro (Banca d'Italia) |
| Abstract: | Italy is the European country where firms with fewer than 10 employees account for the largest share of value added and employment. On the basis of data from the company balance sheets and the Central Credit Register during the period 2003-2010, this work contributes to the analysis of these companies describing their economic and financial conditions and their relations with banks based on a sample of about 500,000 companies, of which more than 400,000 are classified as micro-enterprises. On average, they have lower profitability and higher debt, largely bank debt, than the other size classes. The proportion of loans made by the partners and shareholders is significant, a feature that can mitigate some of the risks associated with their weaker financial conditions. Econometric estimates indicate that micro-enterprises must provide more guarantees and pay higher rates of interest. In all aspects investigated in our work, the heterogeneity of micro-enterprises is much higher than for the other size classes, which suggests broad scope for future research. |
| Keywords: | micro-enterprises, business companies, employment, banking relationships |
| JEL: | G21 G32 L25 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:opques:qef_162_13&r=ent |
| By: | Daniel Mueller (University of Basel) |
| Abstract: | <p style="margin-bottom:0cm; margin-bottom:.0001pt; text-align: justify; line-height:normal; text-autospace:none"><span style="font-size:10.0pt; font-family:"Arial","sans-serif"">This paper analyses the welfare effects of microfinance and inflation in developing countries. Therefore, we introduce a moral hazard problem into a monetary search model with money and credit. We show how access to basic financial services affects households' decisions to borrow, to save and to hold money balances. The group lending mechanism of the microfinance institution induces peer monitoring, which in turn enables entrepreneurship. Our main result is that there exists an inflation threshold beyond which entrepreneurship collapses. We show that inflation affects the impact of microfinance on social welfare in a nonlinear way. The positive effect of microfinance is largest for moderate rates of inflation and drops substantially for inflation rates above the threshold.</span></p> <p style="margin-bottom:0cm; margin-bottom:.0001pt; text-align: justify; line-height:normal; text-autospace:none"><span style="font-size:10.0pt; font-family:"Arial","sans-serif""> </spa n> |
| Keywords: | Microfinance, Moral Hazard, Group Lending, Peer Monitoring and Monetary Policy |
| JEL: | D82 E44 G21 O16 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:bsl:wpaper:2013/06&r=ent |