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on Entrepreneurship |
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Issue of 2013‒10‒25
nine papers chosen by Marcus Dejardin University of Namur and Universite' Catholique de Louvain |
| By: | Edmark, Karin (Research Institute of Industrial Economics (IFN)); Gordon, Roger (University of California) |
| Abstract: | This paper estimates the role of both tax and non-tax determinants in the choice in Sweden to be a closely-held corporation vs. a proprietorship, using individual data for 2004 to 2008 on owners of closely-held businesses. While lower-income individuals face relatively neutral incentives, higher income individuals face strong tax incentives to be corporate. The data suggest a relatively strong correlation between these tax incentives and the likelihood that a firm is corporate. Many conventional non-tax determinants are confirmed in the data as well. |
| Keywords: | Self-employment; Entrepreneurship; Taxation of closely-held businesses; Business organizational form |
| JEL: | G32 G38 H25 |
| Date: | 2013–10–10 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:0982&r=ent |
| By: | Frietsch, Rainer; Neuhäusler, Peter; Rothengatter, Oliver |
| Abstract: | Empirical evidence shows that the distribution of patent applications is highly skewed in terms of company size, with a few large enterprises being responsible for the majority of patent applications. Small and medium-sized enterprises (SMEs), on the other hand, are important players in national innovation systems and are the subject of policy sup-port in many countries. Thus, this study examines the participation rate of SMEs in patenting activities in more detail, differentiating SME patent filings by country and technology area. The analyses are based on a unique, integrated and enriched patent data set of nearly 1.2 million patent applications, built upon PATSTAT data, separating companies into SMEs and large enterprises. The results of descriptive and multivariate analyses reveal that SMEs file fewer interna-tional patents than multinational enterprises (MNEs). However, those SMEs which are active internationally even outperform their larger counterparts in terms of international-ization. It can further be observed that SMEs are more active in emerging technologies, have smaller inventor teams and smaller family sizes on average. Furthermore, patents filed by SMEs are withdrawn more frequently but refused less often. Patents of large firms, on the other hand, have a higher chance of being granted and are cited more frequently. -- |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisidp:36&r=ent |
| By: | Nathan, Max (London School of Economics) |
| Abstract: | In recent years, the economics of migration literature has shown a substantial growth in papers exploring host country impacts beyond the labour market. Specifically, researchers have begun to shift their attention from labour market and fiscal changes, towards exploring what we might call ‘the wider effects of migration' on the production and consumption sides of the economy – and the role of high-skilled migrants in these processes. This paper surveys the emerging ‘wider impacts' literature, including studies from the US, European and other countries. It sets out some simple, non-technical frameworks, discusses the main empirical findings and identifies avenues for future research. |
| Keywords: | immigration, high-skill migrants, innovation, entrepreneurship, investment, productivity, cities |
| JEL: | G23 G24 J15 J61 L5 L26 M12 M13 O31 O32 R11 |
| Date: | 2013–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7653&r=ent |
| By: | Rietveld, C.A.; Burg, E. van |
| Abstract: | Religious beliefs affect the economic behavior of individuals. The aim of this study is to investigate the relation between religious beliefs and entrepreneurship. Empirical evidence that entrepreneurship rates differ among religions suggests that religious beliefs influence the pursuit of entrepreneurship. However, how and which specific religious beliefs play a role in this relationship remains unknown. Therefore, we study the relation between two key religious beliefs and entrepreneurship within one specific branch of Christianity, namely, Protestantism. Using a unique sample of 756 Christian protestant entrepreneurs and employees from the Netherlands, we show that protestant entrepreneurs have a stronger belief than comparable protestant employees that their work is a calling from God and that protestant entrepreneurs are more likely to perceive a duty to add value to society through their occupational work. These results indicate that research on the relation between religion and entrepreneurship is instrumental in explaining the engagement of people in entrepreneurship. |
| Keywords: | entrepreneurship;religion;beliefs;Christianity;protestantism |
| Date: | 2013–10–10 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:eureri:1765041554&r=ent |
| By: | Simão Arouca (Nova School of Business and Economics. Office for Strategy and Studies (GEE), Portuguese Ministry of Economy and Employment.) |
| Abstract: | The uneven spatial distribution of start-ups observed for Portugal from 2003 to 2009 suggests that local attributes, among which the quality of municipal institutions and their respective governance, impact the entrepreneurial process. Through the usage of a fixed effects negative binomial model, this thesis examines the role of municipalities in stimulating firm births, finding both the development of business-related infrastructures and the signals stemming from sound financial management to be the most relevant determinants. While some significance, although conditional, can be assigned to fast-paced licensing and EU structural funding, political right-left preferences appear to exert a negligible influence. |
| Keywords: | Firm Formation; Municipalities; Institutions. |
| JEL: | M13 R32 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:mde:wpaper:0050&r=ent |
| By: | Anastasia Cozarenco (Aix-Marseille University (Aix-Marseille School of Economics), CNRS & EHESS); Ariane Szafarz (Université Libre de Bruxelles (ULB), SBS-EM, Centre Emile Bernheim, and Centre for European Research in Microfinance (CERMi)) |
| Abstract: | This paper compares the loans granted to male and female entrepreneurs by a French microfinance institution (MFI). The sample period is split in two: before and after the MFI implemented the French EUR 10,000 regulatory loan-size ceiling. In the first period, the MFI does not co-finance projects with mainstream banks and loan size is gender-insensitive. In the second period, the MFI does co-finance above-ceiling projects with mainstream banks, and we observe a gender gap in loan size. The results suggest that co-financing leads the originally gender-neutral MFI to import disparate treatment from mainstream banks. |
| Keywords: | microcredit, loan-size ceiling regulation, commercial bank loan, gender discrimination, glass ceiling, France |
| JEL: | G21 J16 M13 L51 G28 O52 I38 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:aim:wpaimx:1350&r=ent |
| By: | Charles HARVIE (School of Economics, Facutly of Commerce, University of Wollongong); Dionisius NARJOKO (Economic Research Institute for ASEAN and East Asia (ERIA)); Sothea OUM (Economic Research Institute for ASEAN and East Asia (ERIA)) |
| Abstract: | This paper sheds light on the issue of SME financing in selected Asian economies using a unique sample survey. It elaborates on (i) the key sources of external finance for SMEs (ii) the extent to which, if at all, the SME sector as identified by firm size, country and in aggregate for a sample of countries in Asia is systematically disadvantaged, or rationed, with respect to access to external financing, (iii) the key factors contributing to the extent of this rationing, focusing upon firm characteristics, owner characteristics and firm performance, and (iv) the importance of financial rationing for SME performance. Our empirical results confirm the salient characteristics of successful SMEs with regard to accessing external funding, their ability to access multiple financial institutions and types of finance, and identifying potential credit rationing or risk premiums imposed by financial institutions on SMEs. The results also reveal how risk premiums affect the innovation capability and exporting activity of SMEs. |
| Keywords: | small and medium enterprises (SMEs), external financing, rationing, firm characteristics, Asia. |
| JEL: | G32 L22 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:era:wpaper:dp-2013-23&r=ent |
| By: | Morgan, Horatio M. |
| Abstract: | This study examines how consolidation activity in the credit union system may impact small business lending. Drawing on Canadian provincial-level data over the period 1992-2009, it provides systematic evidence which suggests that the size of credit unions has a statistically significant negative effect on the rate of new business formation. While the magnitude of this negative effect was found to be very small when the degree of competition was low, it grew as competition intensified in the credit union system. Meanwhile, the size of the federally chartered banking sector was found to have a statistically significant, but economically insignificant negative effect on the rate of new business formation. This result was not affected by consolidation activity in the credit union system. These findings suggest that it is the intensification of competition that most acutely undermines small business lending, and by extension, new business formation in a concentrated credit union system. |
| Keywords: | Competition, Consolidation, Credit unions, New business formation, Relationship lending, Small business lending |
| JEL: | C33 G18 G21 L16 L26 M13 |
| Date: | 2013–10–18 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:50813&r=ent |
| By: | Maria Rosaria Carillo (University of Naples Parthenope); Vincenzo Lombardo (University of Naples Parthenope); Alberto Zazzaro (Universit… Politecnica delle Marche, MoFiR) |
| Abstract: | Two general conclusions can be drawn from the historical and empirical economic research on family firms: (1) it is impossible to identify a single definitive destiny for proprietary capitalism in the process of industrial development regardless of the cultural and institutional context in which the family firms operate; (2) in the same or similar economic environments well-performing (well managed) coexist with underperforming (poorly managed) family firms. In this paper, we develop an overlapping generations model, where agents are endowed with heterogeneous innate talent, and family firms have a comparative advantage over non-family enterprises as they have access to an additional source of immaterial capital, namely the network of family connections. Our results accommodate both the polarization of family firms into two groups with different levels of profitability and the uncertain destiny of proprietary capitalism between a crony and an entrepreneurial society, depending on the institutional framework and technological dynamism of the economy. |
| Keywords: | Family firms, allocation of talents, economic growth, family connections, technological change |
| JEL: | J62 L26 O40 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:anc:wmofir:89&r=ent |