|
on Entrepreneurship |
| By: | Yang Zhou (West Virginia University, Department of Economics); Joshua C. Hall (West Virginia University, Department of Economics) |
| Abstract: | While marketization has been linked to provincial-level economic growth in China, how marketization leads to growth has not been explored. We hypothesize that marketization creates an environment that encourages entrepreneurship, which manifests itself in economic growth. While this argument is not new, it has not been explored in the Chinese context. We fill this gap by empirically testing the relationship between marketization and measures of entrepreneurship across Chinese provinces. Our primary measures of entrepreneurship are level changes in the number of "private enterprises" and "self-employed individuals". We find that higher levels of marketization are positively related to higher levels of entrepreneurship. These positive effects are largely driven by three areas of marketization. "Government and market" drives both measures of entrepreneurship, while "Legal frameworks" in uences only private enterprises and "ownership structure" in uences self-employment. |
| Keywords: | entrepreneurship, marketization, economic freedom, regional science, China |
| JEL: | L26 P25 P37 |
| Date: | 2017–09 |
| URL: | http://d.repec.org/n?u=RePEc:wvu:wpaper:17-22&r=ent |
| By: | Schnitzer, Monika (LMU München); Watzinger, Martin (LMU München) |
| Abstract: | We provide the first measurement of knowledge spillovers from venture capital-financed companies onto the patenting activities of other companies. On average, these spillovers are nine times larger than those generated by the R&D investment of established companies. Spillover effects are larger in complex product industries than in discrete product industries. Start-ups with experienced inventors holding a patent at the time of receiving the first round of investment produce the largest spillovers, indicating that venture capital fosters the commercialization of technologies. Methodologically, we contribute by developing a novel definition of the spillover pool, combining citation-based and technological proximity-based approaches. |
| Keywords: | venture capital, spillovers, innovation; |
| JEL: | G24 O30 O31 O32 |
| Date: | 2017–09–13 |
| URL: | http://d.repec.org/n?u=RePEc:rco:dpaper:46&r=ent |
| By: | Jean Bonnet (CREM - Centre de Recherche en Economie et Management - UNICAEN - Université Caen Normandie - UR1 - Université de Rennes 1 - CNRS - Centre National de la Recherche Scientifique); Sylvie Cieply (CREM - Centre de Recherche en Economie et Management - UNICAEN - Université Caen Normandie - UR1 - Université de Rennes 1 - CNRS - Centre National de la Recherche Scientifique); Marcus Dejardin (CERPE - Centre de Recherches en Economie Régionale et Politique Economique - Facultés Universitaires Notre Dame de la Paix (FUNDP) - Namur) |
| Abstract: | Small and new firms are deemed to be unable to obtain sufficient banking loans. This idea finds a strong theoretical support in credit rationing theory, as initiated by Stiglitz and Weiss (1981). However, this is vigorously challenged by De Meza and Webb (1987, 2000) suggesting that firms can benefit from an excess of credit, i.e. overlending. Credit rationing or overlending? The contribution of this empirical article is twofold: to our knowledge, it is the first to make an attempt in measuring the relative importance of these two types of financing imperfection and to explore factors leading to one or the other. We exploit a rich panel dataset on the access to banking credit for new French businesses during the mid-1990s. Our results show that credit rationing was not highly spread among French new firms. The story described by De Meza and Webb (1987) appears to be a much more realistic model. In addition, we identify factors, linked to the starter, the project or the industry, that are closely associated with credit rationing and/or overlending. Most factors enter into a consistent relation: when they are positively (negatively) associated with credit rationing, they are negatively (positively) associated with overlending. |
| Keywords: | Asymmetric information,Overlending,Imperfect information,Credit rationing,New business |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01373017&r=ent |
| By: | Adele Atkinson |
| Abstract: | Micro, small and medium-sized enterprises (MSMEs) make up the majority of enterprises in the world, providing employment and contributing significantly to national incomes. Many MSMEs face a number of challenges, including regulatory hurdles and tax burdens, difficulties accessing finance and a lack of general guidance or support. Financial education can be an important tool for helping MSMEs and potential entrepreneurs to obtain access to finance and strengthen money management skills. This working paper presents the results of a stocktake of 21 economies. It shows that, while some MSMEs have access to education, training or mentoring, in most economies approaches are fragmented and risk missing important groups. Identifying MSMEs as a target group within national strategies for financial education would contribute to addressing some of the challenges they face. This would also underline the importance of measuring levels of financial literacy among MSMEs and help policy makers and stakeholders to evaluate programmes that target this group. |
| Keywords: | entrepreneur, financial consumer protection, financial education, micro-enterprise, SME |
| Date: | 2017–09–25 |
| URL: | http://d.repec.org/n?u=RePEc:oec:dafaad:43-en&r=ent |
| By: | Francisco Campos; Markus Goldstein; Laura McGorman; Ana Maria Munoz Boudet; Obert Pimhidzai |
| Abstract: | Occupational segregation significantly contributes to the earnings gender gap worldwide. We look at differences in outcomes for male and female enterprises and their sectors in Sub-Saharan Africa, a region of high female participation in entrepreneurship. Data on Uganda show that women breaking into male-dominated sectors make as much as men, and three times more than women staying in female-dominated sectors. Factors including entrepreneurial skill/abilities and credit/human capital constraints do not explain women’s sectoral choices. However, information about profitability, male role models’ influence, and exposure to the sector from family and friends are critical in helping women circumvent or overcome norms undergirding occupational segregation. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp2017-166&r=ent |
| By: | Aleksandrova, E.; Verkhovskaya, O. |
| Abstract: | This preprint is the second part of the Necessity-driven Entrepreneurship: a cross-country Analysis project. This paper takes institutional environment’s perspective on entrepreneurship in general, on necessity-driven entrepreneurship in particular, therefore incorporating its multidimensional nature and enabling more detailed understanding of interaction between entrepreneurial motivation and institutional arrangements. The main content of this research determines the significant factors in the regulatory, normative, and cognitive pillars of the institutional environment. Using the databases of World Bank, the International Labour Organization, the Global Entrepreneurship Monitor survey, the Doing Business, and the World Economic Forum the set of the variables of the institutional environment was defined. These data are from 2009 to 2014, and range across 70 countries. Our research shows that different institutional factors influence the total level of entrepreneurial activity and motivation structure differently. |
| Keywords: | necessity-driven entrepreneurship, institutional environment, Global Entrepreneurship Monitor survey (GEM), |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:6436&r=ent |
| By: | Shirokova, G.; Laskovaia, A.; Osiyevskyy, O. |
| Abstract: | Strategic management and entrepreneurship literature traditionally pay substantive attention to rational decision-making processes with clear formalized plans and analytical procedures. Despite all the advantageous of planning-based logic, some scholars prefer alternative approaches to making decisions. In entrepreneurship field, the effectuation theory rose to prominence, emphasizing analogical rather than analytical reasoning. While prior effectuation research focused primarily on studying personal characteristics of entrepreneurs, this paper is intended to reach a new level in examining macro-level factors that may influence the efficiency of entrepreneurial cognitive processes. Particularly, we investigate how formal in-stitutions shape the relationship between venture cognitive logic of 4413 student entrepreneurs and performance of their ventures. We demonstrate that this relationship is to a large extent shaped by the characteristics of the country-level institutional environment (particularly, level of financial market development and generalized index of the ease of doing business). |
| Keywords: | effectuation, causation, institutions, GUESSS, ease of doing business, financial market development index, |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:6447&r=ent |
| By: | Shirokova, G.; Ivvonen, L. |
| Abstract: | This study examines how components of strategic entrepreneurship (exploration and exploitation) relate to Russian SMEs performance during the economic crisis and to what extent combinations of firm resources determine these relationships. In order to address these issues we surveyed 651 Russian private SMEs. Our results show that during the economic crisis exploitation is positively associated with SME’s performance. However, we found positive association of exploration with SME’s performance during the economic crisis instead of negative association. Our results also indicate that relationship between exploration as well as exploitation and firm performance is dependent on different combinations of firm resources. |
| Keywords: | strategic entrepreneurship, exploration, exploitation, SME, sfirm performance, economic crisis, human capital, financial capital, Russia, |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:6454&r=ent |
| By: | Bouwman, Harry; de Reuver, Mark; Nikou, Shahrokh |
| Abstract: | Digital technology has forced entrepreneurs to reconsider their business models (BMs). Although research on entrepreneurial intention and business models is gaining attention, there is still a large knowledge gap on both fields. In this paper, we specifically address the impact of digitalization on business model innovation (BMI). Based on data collected from 338 European small- to medium-sized enterprises (SMEs) actively using IT artefacts, social media, or big data to innovate their business model, we study antecedents of BM experimentation and BM innovation practices, as well as overall business performance. We carried out four in-depth case studies of companies in which BM innovation is related to IT artefacts and more specifically to social media and big data. The findings from the quantitative study show that BMI is related to IT artefacts, social media, and big data. Use of IT artefacts, social media, and big data is mainly driven by strategic and innovation-related internal motives, although external technology turbulence plays a role too. BM innovation driven by IT artefacts, social media, and big data has an impact on performance. Although the case studies show that this is more evident for IT artefacts and big data than for social media. |
| Keywords: | big data,business model innovation,digitalization,IT artefacts,social media |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsp17:168475&r=ent |
| By: | Bogatyreva, K.; Shirokova, G.; Osiyevskyy, O. |
| Abstract: | Entrepreneurial behavior is usually initiated by formation of corresponding intention. At the same time, entrepreneurial intentions do not always materialize constituting in this way an intention-behavior gap in entrepreneurship. The environmental triggers of entrepreneurial intention-action translation remain to be understudied. With a piece of cross-country data derived from the GUESSS survey conducted in 2011 and 2013/2014, we study the entrepreneurial intention-action link among university students focusing on the essential context-specific moderators of this relationship. Namely, we reveal country financial market institutions and property rights protection system to impact the link between entrepreneurial intentions and further start-up activities. |
| Keywords: | entrepreneurial intentions, intention-behavior link, formal institutions, GUESSS, student entrepreneurship, |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:6455&r=ent |
| By: | Hasbi, Maude |
| Abstract: | I estimate the impact of very high-speed broadband networks on some measures of local economic growth in France. I use panel data estimations with time- and municipal-fixed effects. I show that municipalities with a very high-speed broadband network tend to be more attractive for companies. I find a positive impact on the number of companies of all non-farm market sectors operating locally, along with a positive impact on company creation. In addition, municipalities with a very high-speed broadband network provide a more favorable environment for entrepreneurship, as it has a positive effect on the creation of sole proprietorships. The estimation results also show a positive impact on unemployment reduction. |
| Keywords: | Fiber,Very High-Speed Broadband,Local Economic Growth,Company Creation |
| JEL: | L13 L50 L96 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itsp17:168484&r=ent |
| By: | Shirokova, G.; Beliaeva, T.; Gafforova, E. |
| Abstract: | While there is a growing interest in management literature towards exploring multiple strategic orientations, their interactions and influence on firm performance, most research has been conducted in stable economic environments and developed countries. Taking into consideration the contemporary economic instability and its effect on business operations, it is timely to develop an understanding of strategic directions which may help firms create proper behaviors for managing their way through economic crises. In this study, we examine the role of entrepreneurial, market, and learning orientation in mitigating the nega-tive effects of economic crisis and sanctions on firm’s operations. Based on the dataset of 612 Russian small and medium-sized enterprises collected during the crisis period in 2015-2016, the results indicate that firms with a broader strategic direction are more affected by the unfavorable economic conditions compared to firms which are focused on a particular strategic orientation. |
| Keywords: | strategic orientations, entrepreneurial orientation, market orientation, learning orientation, economic crisis, small and medium-sized enterprises, Russia, |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:6444&r=ent |
| By: | Shirokova, G.V.; Bogatyreva, K.A.; Beliaeva, T.V.; Tsukanova, T.V.; Laskovaia, A.K. |
| Abstract: | The National Report GUESSS (Global University Entrepreneurial Spirit StudentsÙ Survey) in Russia (2016). |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:sps:cpaper:7031&r=ent |
| By: | Ahsina, Khalifa; Slaoui, Oumaima |
| Abstract: | According to an international study carried out in 2015. in Morocco, it has been found that the transition from intention to start-up is very mixed. Indeed, out of 35.8% of the Moroccan active population intending to undertake, only 1.31% of people actually created their businesses.Indeed, the process of business creation is a complex process and it is usually generated in the environment where strong and weak bonds are present in the creation of businesses.This is why several authors, Colemen (2004) and Granovetter (2004) mobilized the theory of social networks to explain this passage. Indeed, the social networks of the entrepreneur play an important role in the acquisition of the social and financial capital needed to start up the company.From this we ask the following research question: "What is the impact of the social networks of the entrepreneur on the actual creation of a business project? According to the methodology used by Grossetti and Barthe, (2008), life stories were used in a mixed way.This original method in the field of entrepreneurship allows to identify the characteristics of the joint evolution of the activity and the social network and then to conduct a comprehensive analysis of the processes underlying these dynamics.We opt for reasoned sampling (Thietard et al, 2007). So we will interview entrepreneurs who have created a business in the twelve regions of Morocco.The results expected from analysis of the field data will allow us to corroborate our theoretical model and thus prescribe the best ways to create effective networks for entrepreneurs and creative organizations. |
| Keywords: | Entrepreneurial Intent, Life Stories, Social Networks, |
| JEL: | M13 |
| Date: | 2017–03–24 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:81415&r=ent |