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on Entrepreneurship |
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Issue of 2013‒08‒10
six papers chosen by Marcus Dejardin University of Namur and Universite' Catholique de Louvain |
| By: | Lee, Neil; Rodríguez-Pose, Andrés |
| Abstract: | The creative industries have long been seen as an innovative sector. More recent research posits that creative occupations are also a fundamental, but overlooked, driver of innovation. Theory also suggests cities are important for both creative industries and occupations, with urban environments helping firms innovate. Yet little empirical work has considered the links between creative industries, occupations, cities and innovation at the firm level. This paper addresses this gap using a sample of over 9,000 UK SMEs. Our results stress that creative industries firms are more likely to introduce original product innovations, but not those learnt from elsewhere. Creative occupations, however, appear a more robust general driver of innovation. We find no support for the hypothesis that urban creative industries firms are particularly innovative. However, creative occupations are used in cities to introduce product innovations learnt elsewhere. The results suggest future work needs to seriously consider the importance of occupations in empirical studies of innovation. |
| Keywords: | Innovation; Creative Industries; Creative Occupations; Cities; Learning |
| JEL: | O31 O38 R11 R58 |
| Date: | 2013–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:48758&r=ent |
| By: | Silvia Angilella; Sebastiano Mazz\`u |
| Abstract: | Small Medium-sized Enterprises (SMEs) face many obstacles when they try to access credit market. These obstacles are increased if the SMEs are innovative. In this case, financial data are insufficient or even not reliable. Thus, when building a judgemental rating model, mainly based on qualitative criteria (soft information), it is very important to finance SMEs' activities. Until now, there isn't a multicriteria credit risk model based on soft information for innovative SMEs. In this paper, we try to fill this gap by presenting a multicriteria credit risk model, specifically, ELECTRE-TRI. To obtain robust SMEs' assignments to the risk classes, a SMAA-TRI analysis is also implemented. In fact, SMAA-TRI incorporates ELECTRE-TRI by considering different sets of preference parameters with Monte Carlo simulations. Finally, we carry out some real case studies, with the aim of illustrating the multicriteria credit risk model proposed. |
| Date: | 2013–08 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1308.0889&r=ent |
| By: | Berg, Gunhild; Fuchs, Michael |
| Abstract: | This paper provides an overview of the state of access to bank financing for SMEs in five Sub-Saharan African countries and analyzes the drivers behind banks'involvement with SMEs. The paper builds on data collected through five in-depth studies in Kenya, Nigeria, Rwanda, South Africa, and Tanzania between 2010 and 2012. The paper shows that the share of SME lending in the overall loan portfolios of banks varies between 5 and 20 percent. Reasons for this finding vary, but key contributing factors are the structure and size of the economy and the extent of Government borrowing, the degree of innovation mainly as introduced by foreign entrants to financial sectors, and the state of the financial sector infrastructure and enabling environment. |
| Keywords: | Access to Finance,Banks&Banking Reform,Debt Markets,Financial Intermediation,Environmental Economics&Policies |
| Date: | 2013–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:6563&r=ent |
| By: | Christophe Bonnet (GDF - Gestion, Droit et Finance - Grenoble École de Management (GEM)); Peter Wirtz (Centre de Recherche Magellan - Université Jean Moulin - Lyon III : EA3713); Martine Séville (COACTIS - Université Lumière - Lyon II : EA4161 - Université Jean Monnet - Saint-Etienne) |
| Abstract: | This research is an attempt to make progress in the understanding of the process of board formation and its impact on the functions performed by the board in young entrepreneurial ventures. We study the link between board members' characteristics and the effective accomplishment of monitoring and resource provision functions. Expanding earlier research we argue that the identity of external financiers matters in configuring the board and designing its working mode and roles. This is because different investors (1) may be endowed with different skills and knowledge, and (2) their social identities influence the motivation to accomplish different roles. We present a conceptual framework of the process of board formation in entrepreneurial firms and confront it with an in-depth longitudinal case study of a young venture that has received funding from business angels and venture capitalists. We show that board composition and routines are co-constructed by different (but not all) salient stakeholders who were involved in the first input of external capital. The intended and actual role of the board members depends on their specific capabilities and financial stakes and on processes of social identification. The observation of evolving board routines shows that certain members participate in two parallel processes of interaction with the entrepreneurs. Formal board meetings essentially serve the purpose of regular monitoring, whereas certain board members contribute to resource provision in parallel informal interactions, when they strongly identify themselves with entrepreneurs. |
| Keywords: | Nascent governance; board of directors; entrepreneurial finance; social identification |
| Date: | 2013–06–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:gemptp:halshs-00850021&r=ent |
| By: | Mario Piacentini |
| Abstract: | Important gender gaps in entrepreneurship exist. Men are three times more likely than women to own a business with employees. Women rarely own large businesses and their average earnings from selfemployment are up to 60% lower than for men. Cultural norms, stereotypes and lack of role models make women less interested in an entrepreneurial career and less confident in their capacities as entrepreneurs. Other obstacles such as time shortages and the composition of their professional networks lead women to start relatively small businesses, with low levels of initial capital and bank financing. These obstacles establish a competitive disadvantage for companies owned by women, which translates in levels of labour productivity that are 5 to 30% lower than those of companies owned by men. This paper also presents examples of policy initiatives in the domains of credit, training and awareness raising that can unlock the double dividend of women’s entrepreneurship: higher empowerment of women and more productive businesses. Better data and more analysis are an essential precondition for a more effective implementation of these policies.<BR>En matière d’entreprenariat, des écarts importants entre les sexes existent. Les hommes sont trois fois plus susceptibles que les femmes de posséder une entreprise avec des employés. Les femmes possèdent rarement de grandes entreprises et leurs gains moyens en tant que travailleurs indépendants sont jusqu'à 60% inférieurs à ceux des hommes. Les normes culturelles, les stéréotypes et le manque de modèles d’entrepreneurs féminins rendent les femmes moins intéressées par une carrière entrepreneuriale et moins confiantes dans leurs capacités d'entrepreneurs. D'autres obstacles comme le manque de temps et la composition de leurs réseaux professionnels conduisent les femmes à démarrer des entreprises relativement petites, avec de faibles niveaux de capital initial et de financements bancaires. Ces obstacles gênèrent un désavantage concurrentiel pour les entreprises appartenant à des femmes, qui se traduit par des niveaux de productivité de 5 à 30% inférieurs à ceux des entreprises appartenant à des hommes. Ce document présente également des exemples d'initiatives politiques dans les domaines du crédit, de la formation et de la sensibilisation qui peuvent débloquer le ‘double dividende’ de l'entreprenariat des femmes: une plus grande émancipation économique de la femme et des entreprises plus productives. Des meilleures données et plus d’analyses sont des conditions essentielles pour une mise en oeuvre plus efficace de ces politiques. |
| Keywords: | gender, entrepreneurship data, entrepreneurship policies |
| JEL: | J01 J08 J16 L25 L26 |
| Date: | 2013–07–23 |
| URL: | http://d.repec.org/n?u=RePEc:oec:elsaab:147-en&r=ent |
| By: | El Fasiki, Hamza |
| Abstract: | The way a family business functions is greatly influenced by the structure of the society it originates from. A wide range of literature has recently attempted to emphasise that it is, therefore, not possible to create global family business theories without taking into consideration the remarkable differences that cultural and traditional context can make. Our attention is drawn to the role that collectivism plays in influencing family culture and the way in which it manifests in entrepreneurial activity throughout family generations. Collectivist societies and the family culture experienced by its individuals can have an important influence on the family business and the entrepreneurship it fosters. The term “collectivist society” describes how individuals often behave while following imposed sets of social patterns. On a smaller scale the same paradigm applies to family businesses where the family and the business life cycles complete each other. Hamza El Fasiki, Head of Research and Studies at the Moroccan Center for Innovation and Social Entrepreneurship, describes the impact of the collectivist society on the family business paradigm and explores how organisational and family culture become one, and the power hierarchy that ensures. |
| Keywords: | Family Business, Family Culture, Collectivism, Organisational Culture, Culture |
| JEL: | A39 M0 Z10 Z19 |
| Date: | 2013–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:48857&r=ent |