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on Entrepreneurship |
| By: | Feldman , Maryann P. (Department of Public Policy, University of North Carolina at Chapel Hill, U.S.); Tavassoli , Sam (CIRCLE, Lund University) |
| Abstract: | Emerging industries have great potential for both entrepreneurship and regional transformation. The emergent earliest stage of the industry lifecycle is when there is the greatest potential and when local factors matter most however we typically can only identify new industries in retrospect. This chapter provides an overview of the transformative potential of emerging industries and considers the challenges associated with studying emerging industries in real time. The chapter considers the regional context for studying new industries and offers a set of regional factors that might promote the emergence of new industries. |
| Keywords: | emerging industries; geography of innovation; market-pull; science-push; local economic development |
| JEL: | N90 O18 O33 R12 |
| Date: | 2015–12–30 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2015_049&r=ent |
| By: | Michael Fritsch (School of Economics and Business Administration, Friedrich-Schiller-University Jena); Sandra Kublina (School of Economics and Business Administration, Friedrich-Schiller-University Jena) |
| Abstract: | We investigate persistence and change of the levels of regional new business formation in West Germany over a period of thirty years. Our indicator is the position of a region in the national ranking. As indicated by previous studies, we generally find a rather high level of persistence and confirm the role of several sources of this persistence, namely, persistence in regional determinants of new business formation, distinct regional cultures of entrepreneurship, and path dependence in new business formation activity. There are, however, also a number of regions that have moved up or down in the national ranking by a considerable number of positions. We find that main factors that are related to such rank changes are R&D activities, industry diversity, and regional wage levels. |
| Keywords: | Entrepreneurship, new business formation, economic development, regional growth regimes |
| JEL: | L26 R11 O11 |
| Date: | 2016–01–04 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2016-001&r=ent |
| By: | Dominik Hanglberger (Leuphana University L\"{u}neburg, Department of Economics, Research Institute on Professions); Joachim Merz (Leuphana University L\"{u}neburg, Department of Economics, Research Institute on Professions) |
| Abstract: | Empirical analyses using cross-sectional and panel data found significantly higher levels of job satisfaction for the self-employed than for employees. We argue that by neglecting anticipation and adaptation effects estimates in previous studies might be misleading. To test this, we specify models accounting for anticipation and adaptation to self-employment and general job changes. In contrast to recent literature we find no specific long-term effect of self-employment on job satisfaction. Accounting for anticipation and adaptation to job changes in general, which includes changes between employee jobs, reduces the effect of self-employment on job satisfaction by two-thirds. When controlling for anticipation and adaptation to job changes, we find a positive anticipation effect of self-employment and a positive effect of self-employment on job satisfaction in the first years of self-employment. After three years, adaptation eliminates the higher satisfaction of being self-employed. According to our results, previous studies overestimate the positive long-term effects of self-employment on job satisfaction. |
| Keywords: | job satisfaction, self-employment, hedonic treadmill model, adaptation, anticipation, fixed effects panel estimation, German Socio-Economic Panel (SOEP). |
| JEL: | J23 J28 J81 |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:inq:inqwps:ecineq2015-385&r=ent |
| By: | A. Arrighetti; F. Landini; L. Caricati; N. Monacelli |
| Abstract: | The aim of the work is to investigate the impact of a prolonged economic recession on the entrepreneurial intentions of young people (university students) distinguishing between propensity to start a new business (i.e. degree of interest in entrepreneurship) and perceived likelihood of becoming an entrepreneur (i.e. probability to succeed). Furthermore we verify if the recession strengthens the orientation to exploit new market opportunities, or simply supports self-employment objectives.Design/methodology/approach–Entrepreneurial intent and feasibility and psycho-social and economic variables concerning a sample of 3684 Italian university students enrolled in 12 different faculties. Information was gathered through questionnaires distributed in both electronic and paper-and-pencil form. Findings–Firstly, we found that while the perceived strength of the economic crisis does not impact on the propensity towards entrepreneurship, it has a negative and highly significant impact on the likelihood to start a business. Secondly, when we distinguished between opportunity-based and necessity-based types, we found that while for the latter the crisis impacts only on the perceived likelihood to become an entrepreneur, for the former it affects both dimensions of entrepreneurship, i.e., both propensity and perceived likelihood. Moreover, neither family support nor economic institutions are perceived as relevant in sustaining entrepreneurial intentions. On the contrary, the university is considered as a key support entity. Originality/value–The present paper is one of the few studies concerning the influence of rapid worsening of external economic context (severe recession) on the entrepreneurial intent. Research limitations–Reliance on cross-sectional questionnaires instead of an experimental design imposes caution about the causal relationships between predictors and entrepreneurial intent |
| Keywords: | entrepreneurial intention; university students; Italy; economic crisis; opportunity; necessity |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:par:dipeco:2015-ep05&r=ent |
| By: | Hazarika, Bhabesh; Goswami, Kishor |
| Abstract: | The expansion of female intensive sectors due to globalization and trade liberalization engenders ample employment and income opportunities for female and thus female entrepreneurship. Despite an increase in the female entrepreneurship in recent decade, females are still outnumbered in entrepreneurial activities by the male. The determinants that influence the decision to become an entrepreneur substantially differ across gender. Present study provides empirical evidences towards individuals’ entry into rural non-farm micro-entrepreneurship focusing on gender issue. Based on primary data collected in Assam, the study found that the probability of becoming a micro-entrepreneur is more for being a female in the female intensive industry. The results reveal the existence gender differences with respect to magnitude and direction in the determinants of micro-entrepreneurship development. The influence of educational attainment is not found significant for female’s probability to become a handloom micro-entrepreneur. Financial inclusion of rural people coupled with proper utilization of credit accessed is crucial in handloom micro-enterprise development. |
| Keywords: | Rural,Non-farm,Micro-entrepreneurship,Gender,Handloom,Assam |
| Date: | 2014–08–28 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esconf:125611&r=ent |
| By: | Andrea Bellucci (Institute for Applied Economic Research (IAW), Germany and MoFiR, Italy); Alexander Borisov (University of Cincinnati, USA and MoFiR, Italy); Alberto Zazzaro (University of Naples Federico II, Polytechnic University of Marche, Finance Research Group (MoFiR) and CSEF) |
| Abstract: | Academic research recognizes that the organizational structure of banks could have implications for the financing of small businesses and entrepreneurial firms. In this chapter, we start by reviewing the underlying theoretical motivation and then summarize existing evidence. Overall, it is confirmed that the organization of lending institutions is important for the use and transmission of information, as well as credit availability for small businesses. Moreover, using a unique dataset of bank loans, we empirically document that loan contract characteristics such as interest rates and collateral requirements are sensitive to the hierarchical allocation of decision-making authority within the bank’s organization. JEL Classification: |
| Keywords: | Bank organization structure, Authority allocation, Small business financing |
| Date: | 2016–01–11 |
| URL: | http://d.repec.org/n?u=RePEc:sef:csefwp:424&r=ent |
| By: | Andrea Caggese |
| Abstract: | I provide new empirical evidence on a negative relation between financial frictions and productivity growth over firms’ life cycle. I show that a model of firm dynamics with incremental innovation cannot explain such evidence. However also including radical innovation, which is very risky but potentially very productive, allows for joint replication of several stylized facts about the dynamics of young and old firms and of the differences in productivity growth in industries with different degrees of financing frictions. These frictions matter because they act as a barrier to entry that reduces competition and the risk taking of young firms. |
| Date: | 2015–11 |
| URL: | http://d.repec.org/n?u=RePEc:bge:wpaper:865&r=ent |
| By: | Alessandra Bonfiglioli; Rosario Crinò; Gino Gancia |
| Abstract: | We study how financial frictions affect firm-level heterogeneity and trade in a model where productivity differences across monopolistically competitive firms are endogenous and depend on investment decisions at the entry stage. By increasing entry costs, financial frictions soften competition and lower the value of investing in bigger projects with more dispersed outcomes. Hence, credit frictions make firms more homogeneous and hinder the volume of exports both along the intensive and the extensive margin. Export opportunities, instead, shift expected profits to the tail and increase the value of technological heterogeneity. We test these predictions using comparable measures of sale dispersion within 365 manufacturing industries in 119 countries, built from highly disaggregated US import data. Consistent with the model, financial development increases sale dispersion, especially in more financially vulnerable industries; sale dispersion is also increasing in measures of comparative advantage. These results are quantitatively important for explaining the effect of financial development and factor endowments on export sales. |
| Keywords: | financial development, firm heterogeneity, international trade |
| JEL: | F12 F16 E24 |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:bge:wpaper:863&r=ent |