nep-ent New Economics Papers
on Entrepreneurship
Issue of 2014‒06‒28
eight papers chosen by
Marcus Dejardin
University of Namur and Universite' Catholique de Louvain

  1. Uraveling start-up processes with the help of sequence analyses By Smink; Kim van der Putten
  2. Do government private subsidies crowd out entrepreneurship ? By Islam, Asif
  3. Business Literacy and Development: Evidence from a Randomized Controlled Trial in Rural Mexico By Gabriela Calderón; Jesse M.Cunha ;; Giacomo De Giorgi      
  4. Which Securities Regulation Promotes Crowdinvesting? By Hornuf, Lars; Schwienbacher, Armin
  5. SMEs and Barriers to Eco-Innovation in EU: A Diverse Palette of Greens. By Giovanni Marin; Alberto Marzucchi; Roberto Zoboli
  6. Il contributo del capitale umano imprenditoriale alla riqualificazione delle imprese By Daniela Federici; Francesco Ferrante
  7. Femmes et innovation sociétale dans l’espace méditerranéen By PETIT Isabelle
  8. Comment les entrepreneurs perçoivent l’efficacité des structures d’accompagnement? By Jacques Arlotto; Jean-Michel Sahut; Frédéric Teulon

  1. By: Smink; Kim van der Putten
    Abstract: Our sequence analyses of the PSED2 database, the largest available dataset on venture creation processes, demonstrate two points. First, they show when and how to use the numerous variants of this method. To this end, we develop a decision tree that makes the analytical choices to be taken explicit. Since researchers can often not know ex ante which way of running sequence analyses delivers the most insightful results, we suggest to use this decision tree and: `in case of doubt, do it both ways!`. Second, our analyses also highlight the usefulness of sequence techniques for studying venture creation processes. Contrary to previous start-up analyses, we succeed in identifying 16 distinct ways in which entrepreneurs set up new ventures. These findings suggest that previous studies fail to recognize systematic venture creation patterns due to the use of traditional statistical techniques which do not make it possible to treat one sequence of events as one single case.
    Date: 2014–06
  2. By: Islam, Asif
    Abstract: Although several studies have found a negative relationship between government spending and entrepreneurship, much debate remains regarding the components of government spending responsible for this association. This paper contributes to the literature by specifically exploring the relationship between government private subsidies and entrepreneurship. By combining macroeconomic government spending data with individual level entrepreneurship data, the paper finds a negative association between the share of private subsidies and entrepreneurship. However, findings are less straightforward when the analysis delves deeper into the components of private subsidies and their association with different kinds of entrepreneurship.
    Keywords: Urban Economics,Taxation&Subsidies,Economic Theory&Research,Emerging Markets,Education for the Knowledge Economy
    Date: 2014–06–01
  3. By: Gabriela Calderón; Jesse M.Cunha ;; Giacomo De Giorgi      
    Abstract: This paper explores whether the poor performance of many micro-enterprises can be explained by a lack of basic business skills. We randomized the offer of a free, 48-hour business skills course to female entrepreneurs in rural Mexico. We find that those assigned to treatment earn higher profits, have larger revenues, serve a greater number of clients, are more likely to use formal accounting techniques, and more likely to be registered with the government. Economically significant indirect treatment effects on those entrepreneurs randomized out of the program, yet living in treatment villages are observed. We present a simple model that helps interpret our results, and consistent with the theoretical predictions, we find that entrepreneurs with lower baseline profits are the most likely to quit their business post-treatment, and that the positive impacts of the treatment are increasing in entrepreneurial quality.
    Keywords: Business literacy, economic development, micro-enterprise
    JEL: I25 O12 O14
    Date: 2013–12
  4. By: Hornuf, Lars; Schwienbacher, Armin
    Abstract: In this paper, we show that too strong investor protection may harm small firms and, thus, entrepreneurial initiatives. This situation is particularly relevant in crowdinvesting, which refers to a recent financial innovation originating on the Internet. In general, securities regulation offers exemptions to prospectus and registration requirements. From an analysis of selected countries, we offer first evidence that portals shape the securities contracts they provide to startups based on these exemptions. This, in turn, can limit the amount of capital raised by the firms as well as the type of investors participating in the campaigns. Finally, we offer a ‘law and finance’ analysis of recent reforms of securities regulation in different countries that have been initiated as a means to encourage crowdinvesting.
    Keywords: crowdinvesting; crowdfunding; securities regulation; investor protection
    JEL: G20 G18 G38 K22
    Date: 2014–03–20
  5. By: Giovanni Marin (CERIS-CNR, National Research Council of Italy, Milan.); Alberto Marzucchi (CERIS-CNR, National Research Council of Italy, Milan.); Roberto Zoboli (CERIS-CNR, National Research Council of Italy, Milan.)
    Abstract: Eco-innovation is an explicit aim of major EU policy strategies. Many environmental policies de facto require firms to eco-innovate to comply with policy requirements, while the overlap between policy-driven and market-driven eco-innovation strategies is increasingly important for many firms. Barriers to eco-innovation can then emerge as a critical factor in either preventing or stimulating EU strategies, policy implementation, and 'green strategies' by firms. In this paper, we propose a taxonomy of EU SMEs in terms of barriers to eco-innovation. The aim is to discriminate among SMEs on how they differ in terms of perception of barriers and engagement in environmental innovation, thus highlighting the need to look at eco-innovation barriers in relation to firms' attitudes, technological and organizational capabilities, and strategies. We identify six clusters of SMEs. These clusters include firms facing 'Revealed barriers', 'Deterring barriers', 'Cost deterred' firms, 'Market deterred' firms, 'Non eco-innovators' and 'Green champions'. The clusters show substantial differences in terms of eco-innovation adoption. We show that our proposed taxonomy has little overlap with sector classifications. This diversity should be taken into account for successful environmental innovation policies.
    Keywords: eco-innovation, barriers to innovation, firm behaviour.
    JEL: O33 Q55
    Date: 2014–04
  6. By: Daniela Federici (Università di Cassino e del Lazio Meridionale); Francesco Ferrante (Università di Cassino e del Lazio Meridionale AlmaLaurea Inter-University Consortium)
    Abstract: The connection between the weak performance of the Italian economy and the mechanisms governing the creation and allocation of human capital has been investigated only rarely. This paper argues that the Italian economy faces not just a generic shortage of human capital but a specific shortage of entrepreneurial human capital, which explains the small size of firms and their lack of international competitiveness in high-tech sectors. We identify the main institutional mechanisms responsible for this state of affairs and the economic policy tools needed to promote the generation of entrepreneurial human capital.
    Keywords: Education, Self-employment, Entrepreneurship, Human capital, Firms
    JEL: J23 J24 L25 L50 O17
    Date: 2014–06
  7. By: PETIT Isabelle
    Abstract: Women often appear as less entrepreneurial than men especially in countries where
    Keywords: Female entrepreneurship, social innovation, social enterprise, social entrepreneurship, women,
    Date: 2014–06–16
  8. By: Jacques Arlotto; Jean-Michel Sahut; Frédéric Teulon
    Abstract: This article examines the performance of incubators from the entrepreneurs’ perspective which have been coached by this sort of structure. The results demonstrate the social utility of incubators in France. In fact, they encourage potential entrepreneurs to both venture creation and to contribute to the success of the incubated firms. Entrepreneurs’ expectations vis-à-vis incubators are clearly targeting functional services and infrastructure. The services provided by incubators and perceived by entrepreneurs depends considerably on its director’s work quality, who also acts as a coach manager in most incubators. This may account for much difference in perceived performance between incubators. Finally, the incubators’ services could be more sophisticated and focus largely on assistance to find investors.
    Keywords: incubator, entrepreneur, entrepreneurship, start-up, performance, coaching, investor
    Date: 2014–06–16

This nep-ent issue is ©2014 by Marcus Dejardin. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
General information on the NEP project can be found at For comments please write to the director of NEP, Marco Novarese at <>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.