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on Entrepreneurship |
| 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: | Catherine Refait-Alexandre (Université de Bourgogne Franche-Comté, CRESE); Stéphanie Serve (Université de Cergy-Pontoise, THEMA) |
| Abstract: | This article focuses on the use of multiple banking relationships by SMEs, a key issue given their strong dependence on bank financing in a context of increasing financial constraints and higher risk of credit rationing since the crisis. We investigate whether the use of multiple banking relationships is explained by firms’ characteristics or by the quality of the banking relationship. We exploit the results of an original survey conducted on a sample of French SMEs in December 2012. According to the traditional theoretical framework of multiple banking, we find that older, bigger, and betterperforming firms are more likely to access multiple banking relationships. We further find that innovative firms are more likely to engage in multiple banking relationships. We also highlight the explanatory power of an alternative model based on the quality of banking relationship: when the manager trusts its main bank, or when he is closer to his loan officer, the firm will be less likely to engage in multiple banking relationships. |
| Keywords: | multiple banking relationships, trust, credit rationing, financial crisis |
| JEL: | G21 G32 |
| Date: | 2016–01 |
| URL: | http://d.repec.org/n?u=RePEc:crb:wpaper:2016-02&r=ent |
| By: | José Alberto Molina (Faculty of Economics and Business Studies, Universidad de Zaragoza); Juan Carlos Campaña (Faculty of Economics and Business Studies, Universidad de Zaragoza); Raquel Ortega (Faculty of Economics and Business Studies, Universidad de Zaragoza) |
| Abstract: | We analyze differences between wage-earners and self-employees in the time spent on different cultural activities at home (reading, watching TV, and listening to the radio). To that end, we estimate a SUR model with data from the Spanish Time Use Survey for 2009-2010. Our results show that being self-employed has a negative and significant effect on the time dedicated to reading and to watching TV, older individuals spend more time reading, and being male influences the time spent watching TV and listening to the radio, in a statistically significant and positive way. Additionally, those with a higher level of education spend more time reading, while those with lower levels of education prefer to watch TV. Adults with better health spend less time on both reading and watching TV, and families with larger numbers of children up to age 5 tend to spend less time on all three of our at-home cultural activities. Finally, living in a larger city has a positive effect on the time dedicated to all three options. |
| Keywords: | Reading, Watching TV, Listening to radio, Wage-earners, Self-employees, Time uses, SUR model |
| JEL: | D12 D13 J22 |
| Date: | 2016–01 |
| URL: | http://d.repec.org/n?u=RePEc:zar:wpaper:dt2016-01&r=ent |
| By: | Mikel Casares (Departamento de Economía-UPNA) |
| Abstract: | I show evidence indicating that the variability of the total number of business units (establishments) has significantly increased in recent US business cycles, accounting for nearly 2/3 of real GDP fluctuations during the 2003-2012 decade. Next, I examine the role of business creation and destruction in an estimated DSGE-style model extended with endogenous entry and exit. Shocks on both entry and, especially, exit have played a crucial role on explaining the latest boom-bust cycle in the US economy. I also find that the estimated innovations of total factor productivity are positive and high in 2010-2012, which might be the consequence of the dramatic increase in the exit rates observed during the recession of 2008-2009. |
| Keywords: | Entry and exit, DSGE models, US business cycles |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:nav:ecupna:1503&r=ent |
| By: | Marc Bogdanowicz (European Commission – JRC - IPTS) |
| Abstract: | This report explores the concept of Digital entrepreneurship and 18 current measurement frameworks that support the empirical analysis of entrepreneurship, its determinants, performance and impacts. The report points at the current strengths and weaknesses of the existing measurement frameworks to address the issues of Digital entrepreneurship, and indicates possible ways forward. |
| Keywords: | ICT, Innovation, ICT Innovation, Entrepreneurship, ICT Entrepreneurship, Digital entrepreneurship, Measurement framework |
| JEL: | D01 L26 M13 O32 O33 |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc96465&r=ent |
| By: | Chowdhury, Biplob (University of Tasmania, Tasmanian School of Business and Economics); Dungey, Mardi (University of Tasmania, Tasmanian School of Business and Economics); Pham, Thu Phuong (University of Tasmania, Tasmanian School of Business and Economics) |
| Abstract: | This paper examines the potential impact of governance mechanisms (top management team structure and board composition) on post-IPO performance of young Australian firms from 2002-2007. We find that change in board of directors and TMT membership significantly affects firm performance. The higher proportion of the IPO original board remains, the better performance. An analogous relationship between the proportion of original TMT members and firm performance is also documented. Our study reveals that both original TMT and board members have a significant effect on both short-term and long-term IPO performance. We conclude that the retention of both the original directors and TMT members is favourable to young IPO firms and their post-IPO performance. |
| Keywords: | Corporate governance, board composition, top management teams, young firms, post-IPO performance |
| JEL: | G30 G32 L25 |
| Date: | 2014–10–04 |
| URL: | http://d.repec.org/n?u=RePEc:tas:wpaper:201411&r=ent |