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on Entrepreneurship |
| By: | Luca Stanca; Herbert Dawid; Mariacristina Piva; Marco Vivarelli |
| Abstract: | This paper investigates, both theoretically and empirically, the implications that complementary assets needed for the formation of start-ups -proxied by the ease of access to financial resources- have on the innovative efforts of incumbent firms. In particular, we develop a theoretical model, highlighting a strategic incentive effect by which the innovative efforts of incumbent firms are decreasing in the availability of the complementary assets needed for the creation of a startup. The empirical relevance of this effect is investigated by using firm level data drawn from the third Italian Community Innovation Survey covering the period 1998-2000. The results of our empirical analysis support our theory-based insights. |
| Keywords: | R&D, Innovation, Start-up, Complementary Assets |
| Date: | 2015–04–28 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2015/12&r=ent |
| By: | Ajay Agrawal; Christian Catalini; Avi Goldfarb |
| Abstract: | The extant literature linking slack time to innovation focuses on how slack time facilitates creative activities such as ideation, experimentation, and prototype development. We turn attention to how slack time may enable activities that are less creative but still important for innovation, namely mundane, execution-oriented tasks. First, we document the main effect: a sharp rise in innovative projects posted on a major crowdfunding platform when colleges are on break. Next, we report timing and project type evidence consistent with the causal interpretation that slack time drives innovation. Finally, we present a series of results consistent with the mundane task mechanism but not with the traditional creativity-related explanations. We do not rule out the possibility that creativity benefits from slack time. Instead, we introduce the idea that mundane, execution-oriented tasks, such as those associated with launching a crowdfunding campaign (e.g., administration, planning, promotion), are an important input to innovation that may benefit significantly from slack time. |
| JEL: | J22 L26 O31 |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:21134&r=ent |
| By: | Katarzyna Cieslik; Marek Hudon; Philip Verwimp |
| Abstract: | This study explores the social entrepreneurial potential of the rule-breaking practices of microfinance programs’ beneficiaries. We empirically apply the positive theory of social entrepreneurship that views social entrepreneurship as a pursuit of neglected positive externalities. Using the storyboard methodology, the paper examines the strategies employed by the poor in Burundi to bypass institutional rules. We argue that illicit practices can in fact be interpreted as value-creating entrepreneurial acts and be symptomatic of an emergent social-entrepreneurial orientation. Our findings cast a spotlight on issues of agency and empowerment, questioning and contextualizing the definition of social value. |
| Keywords: | entrepreneurship; rule-breaking; social value; microfinance; Africa; Burundi |
| Date: | 2015–04–23 |
| URL: | http://d.repec.org/n?u=RePEc:sol:wpaper:2013/198935&r=ent |
| By: | BEDU Nicolas; VANDERSTOCKEN Alexis |
| Abstract: | Many studies have looked at the effectiveness of public schemes supporting private R&D but few have highlighted the role regions play in R&D funding. The present article assesses the R&D support package developed in the Aquitaine, France’s number one region in terms of proportion of budget spent on innovation. Its findings show that regional subsidies have induced local SMEs to increase their R&D resources and accelerate their expansion. More broadly, the article enhances understanding of the determinants explaining the effectiveness of public actions supporting private R&D. |
| Keywords: | SME, R&D subsidies, regional Science and Technology policy, public policy evaluation. |
| JEL: | H71 O3 R11 R58 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:grt:wpegrt:2015-13&r=ent |
| By: | Asian Development Bank (ADB); (Central and West Asia Department, ADB); ; |
| Abstract: | In a fast-paced world where information, resources, and markets are within reach with a swipe of a finger, access to information and communication technologies (ICTs) is essential to business development and growth. This study assesses the need for and use of ICTs by women entrepreneurs in Azerbaijan, Kazakhstan, the Kyrgyz Republic, and Uzbekistan. It exposes the gaps between ICTs and the development of women entrepreneurship within the context of legal and regulatory frameworks, policy and leadership coordination, financial services, business development support, capacity building and use promotion, and women’s participation in public dialogues. Finally, this work recommends ways to use ICTs to help women start and grow their own businesses. |
| Keywords: | ICT; Leveraging Information; Communication; Technology; Women; Entrepreneur; Business; Azerbaijan; Kazakhstan; Kyrgyz; Uzbekistan; Assessment; Mobile; Computer; Internet; RETA 7563; ADB; Central and West Asia; ILO/UNCTAD ICT4WED framework; E-commerce; SM; One-stop-shop website; Business development support; Economic empowerment; E-government services; E-licensing services; Gender sensitive financial services; Regulatory environment; Women’s access to markets; Infrastructure |
| Date: | 2014–09 |
| URL: | http://d.repec.org/n?u=RePEc:asd:wpaper:rpt146572-3&r=ent |
| By: | Amess, Kevin; Stiebale, Joel; Wright, Mike |
| Abstract: | The paper analyses the impact of private equity (PE) backed leveraged buyouts (LBOs) on innovation output (patenting). Using a sample of 407 UK deals we find that LBOs have a positive causal effect on patent stock and quality-adjusted patent stock. Our results imply a 6% increase in quality-adjusted patent stock three years after the deal. The increase in innovation activity is concentrated among private-to-private transactions with a 14% increase in the quality-adjusted patent stock. Further analysis supports the argument that PE firms facilitate the relaxation of financial constraints. We also rule out alternative explanations for portfolio firms' higher patenting activity. Our findings suggest that PE firms do not promote short-term cost-cutting at the expense of entrepreneurial investment opportunities with a long-term payoff. |
| Keywords: | private equity,leveraged buyout,entrepreneurial buyouts,innovation |
| JEL: | D22 G32 G34 L26 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:dicedp:184&r=ent |
| By: | Hud, Martin; Rammer, Christian |
| Abstract: | The global economic crisis of 2008/2009 hit many firms hard. Faced with rapidly declining sales and highly uncertain economic prospects, firms had to cut costs and reconsider their business strategies. With respect to innovation, cost cutting often means to stop or underresource innovation projects which may harm a firm's long-term competitiveness. Firms may therefore refrain from reducing innovation budgets during crises but rather deliberately allocate more resources to innovation activities in order to update their product portfolio for the following recovery. Our analysis examines the effects of changes in innovation budgets during the most recent economic crisis on firms' post-crisis innovation performance. Based on firm-level panel data from the German Innovation Survey covering the period 2006 to 2012, we find a positive effect of crisis adjustment. Raising the ratio of innovation expenditure to sales does increase subsequent sales of market novelties, but not of product imitations. Our findings are dependent upon the way business cycle effects are measured, however. While the results hold for macroeconomic business cycle indicators (change in real GDP), they do not for demand changes in a firm's primary sales market. This may imply that lower opportunity costs of innovation during an economic crisis are transferred into higher post-crisis new product sales by firms in markets less strongly affected by the crisis. |
| JEL: | O31 O32 E32 L25 D22 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:15030&r=ent |