nep-ent New Economics Papers
on All new papers
Issue of 2014‒09‒08
seven papers chosen by
Marcus Dejardin
Université de Namur

  1. What is the Performance of Incubators? The Point of View of Coached Entrepreneurs By Jacques Arlotto; Jean-Michel Sahut; Frédéric Teulon
  2. An Empirical Investigation of Factors Affecting Small Business Success By Anis Omri; Maha Ayadi-Frikha; Anissa Chaibi
  3. Why Small Businesses Fail in Tunisia? By Anis Omri; Mohamed Frikha
  4. Entrepreneurship in Latin America: A Step Up the Social Ladder? By Eduardo Lora; Francesca Castellani
  5. Evaluation of Growing Business: Which Method, What Risks? By Jean-Sebastien Lantz; Lubica Hikkerova; Mehdi Mili; Jean-Michel Sahut
  6. Imitation versus Innovation: What Makes the Difference? By Spyros Arvanitis; Florian Seliger
  7. Implementing a Value Creation Model in a Startup By Guillaume Marceau

  1. By: Jacques Arlotto; Jean-Michel Sahut; Frédéric Teulon
    Abstract: This article examines the performance of incubators because their economic model implies constantly finding external sources of financing. In order to evaluate the performance of incubators in France, we questioned 404 entrepreneurs in 80 incubators. The results show the social utility of incubators in France. Indeed, they encourage entrepreneurs to pass to the act of creation, but also contribute to the success of incubated firms. Moreover, these companies create more jobs than other start-ups. However, the services provided by incubators could be more developed and focus more on the assistance in order to find potential investors. Lastly, the work quality of an incubator as perceived by entrepreneurs is largely dependant on its director. This fact can explain important variations of performance between incubators.
    Keywords: Incubator; Entrepreneur; Performance; Coaching; Stakeholder; Investor; Entrepreneurship; Diploma; Education
    JEL: L26 M13
    Date: 2014–08–29
  2. By: Anis Omri; Maha Ayadi-Frikha; Anissa Chaibi
    Abstract: The purpose of this article is to build a mediational model of small businesses success. We investigate how the human, social and financial capital of entrepreneurs influences the capacity of small business to succeed. Our objective is then to demonstrate that these capitals are converted into success through the process of innovation. Based on an analysis of data from 228 Tunisian micro-enterprises, we concluded that the effects of these capitals on businesses success were partially mediated by the process of innovation. Our paper extends the theoritical and empirical researches on entrepreneurship by building a mediational model of small business success. This model presents the indirect effect of the human, social and financial capital on small business success via their impact on innovation.
    Keywords: Mediational model, Innovation, Success; Small businesses, Tunisia.
    JEL: L26
    Date: 2014–08–29
  3. By: Anis Omri; Mohamed Frikha
    Abstract: This paper aims at drawing up an average cognitive map in order to explain the failure factors of Tunisian small businesses. The method adopted in our study is the cognitive approach. Our study extends entrepreneurship literature and previous literature by proposing a new approach in order to build an average cognitive map for the explanation of small businesses failures.
    Keywords: Entrepreneurial Failure, Small businesses, Tunisia.
    Date: 2014–08–29
  4. By: Eduardo Lora; Francesca Castellani
    Abstract: This book looks at the potential and the limits of policies to promote entrepreneurship as an important vehicle for social mobility in Latin America and the Caribbean, as well as steps to remove the constrains that hamper entrepreneurship.
    JEL: E21 I31 O15 Z13
    Date: 2014–03
  5. By: Jean-Sebastien Lantz; Lubica Hikkerova; Mehdi Mili; Jean-Michel Sahut
    Abstract: Evaluate a growing company is always a difficult exercise because the valuation depends on the appreciation of many factors that vary depending on the person performing the evaluation: manager, shareholder, venture capitalist, etc. This article aims to present the methods used to evaluate this type of firm, their implementation and in particular the parameters to be considered in the assessment (cash flows and the discount rate) and the most common mistakes. This often results in an initial undervaluation as the entrepreneurs of the most promising projects find themselves unmotivated.
    Keywords: valuation; DCF; cash flow; risk; start-ups; venture capital
    JEL: C82 D8 D21 G24 L21
    Date: 2014–08–29
  6. By: Spyros Arvanitis (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Florian Seliger (KOF Swiss Economic Institute, ETH Zurich, Switzerland)
    Abstract: The main objective of this empirical paper is to identify characteristics of imitation and innovation and shed light on possible differences between these two kinds of innovative activity. Thus, it tries to answer the following questions: (a) what are the determinants of imitative performance compared to determinants of innovative performance and (b) what are the determinants of switching from imitative to innovative behavior compared to imitators and innovators showing persistence over time. The study is based on Swiss firm data. In sum, our findings indicate that imitating firms are significantly more ‘extroverted’ than innovating firms because their activities are much more related to external R&D activities and cooperation and medium-educated personnel. Innovating firms do not rely to the same extent on the exploration of external knowledge. Their rather ‘introverted’ behavior seems be more related with intense exploitation of internal resources. Further, the profiles of different types of innovating firms show that an innovation performance hierarchy exists ranking from occasional innovators through switchers to persistently innovating firms.
    Keywords: innovation, imitation
    JEL: O31
    Date: 2014–08
  7. By: Guillaume Marceau
    Abstract: In this article, we propose a value creation model based on the principle of the chain of value in corporate management. We particularly endeavor to show the incidence of a relevant allowance of a company's resources on its profitability, by distinguishing on one hand the activities that are directly profitable and on the other hand those which have a support function. This distinction is applied to the study of a services company in computer engineering, in terms of internal balance and potential of development.
    Keywords: management; chain of value; value creation; entrepreneurship; operational and functional activities; SCCE; internal balance; potential of development
    JEL: G01 M13 M21 O32
    Date: 2014–08–29

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