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on Entrepreneurship |
| By: | Michael Fritsch (FSU Jena); Alina Sorgner (FSU Jena); Michael Wyrwich (FSU Jena) |
| Abstract: | This paper investigates whether the relationship between a person's occupational sta- tus and well-being differs across countries with varying institutional contexts. We find that the relationship between job- and life satisfaction of self-employed people as well as of paid employees varies considerably across countries. Our results indicate that entrepreneurship-friendly institutions in a country are conducive to the well-being of self-employed. Remarkably, the quality of entrepreneurial institutions also increases the levels of well-being of paid employees, but the effect is more pronounced for the self-employed. |
| Keywords: | Entrepreneurship, institutions, well-being, life satisfaction, job satisfaction |
| JEL: | L26 I31 D01 D91 P51 |
| Date: | 2018–03–28 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2018-005&r=ent |
| By: | Iranzo Sancho, Susana |
| Abstract: | Casual evidence for some developed countries suggests that most talented migrants become entrepreneurs (positive sorting), but entrepreneurship might also be chosen by less talented migrants who have fewer opportunities in the labour market of the destination countries (negative sorting). Building upon Lucas (1978), we develop a theoretical framework to analyze the different mechanisms at play that draw migrants into entrepreneurship. The model can explain the selection into self-employment of both highskilled and less skilled migrants. We test the model predictions on a rich survey dataset of immigrants in Spain for 2006-2007. Our findings reject a U-shaped relationship between immigrants.skills and self-employment for the Spanish case and instead points to positive sorting into entrepreneurship. Self-employed migrants tend to have (statistically significant) better observable characteristics than salaried workers. However, non-market mechanisms, that is, penalties in the labour market beyond the mere human capital losses than migrants experience upon arrival, are also consistent with the relatively higher probability of self-employment and the lower entrepreneurial quality of certain migrant groups. |
| Keywords: | Treballadors estrangers -- Espanya, Emprenedoria -- Espanya, 331 - Treball. Relacions laborals. Ocupació. Organització del treball, |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:urv:wpaper:2072/306519&r=ent |
| By: | Sara Moreira (Northwestern University); Munseob Lee (University of Chicago); David Argente (University of Chicago) |
| Abstract: | We exploit detailed product- and firm-level data to study the sources of innovation and the patterns of productivity growth in the consumer goods sector over the period 2006-2014. Using a dataset that contains information on the product portfolio of each firm and the characteristics of each product, we document new facts on product reallocation. First, we find that reallocation of products happens within the boundaries of the firm, but the largest changes in product quality come from new firms launching new varieties and from small firms expanding to other product lines. Second, we document that product reallocation within and between firms are procyclical and that product reallocation within firms was more affected than product reallocation between firms during the great recession. Finally, we quantify the extent to which product reallocation affects firm-level productivity growth and and innovation as reflected by changes in their total factor productivity. Our preliminary findings suggest that within-firm product reallocation contributes substantially to the growth in innovation across all sectors. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:red:sed017:1614&r=ent |
| By: | Fiammetta Rossetti (European Commission - JRC); Daniel Nepelski (European Commission - JRC); Melisande Cardona (European Commission - JRC) |
| Abstract: | In 2015 the European Commission (EC) DG CNECT launched the 2nd edition of the Startup Europe (SE) initiative under the Horizon 2020 EU Research and Innovation programme. This initiative coordinated the efforts of six distinct projects (Digistart, Welcome, ePlus, Startup Scaleup, Twist and Startup Europe Partnership) that connected just as many European entrepreneurial ecosystems. This report provides the theoretical framework to analyse the policy support to entrepreneurship and evidence on the nearly 700 startups participating in the SE projects. This exercise also helps to collect relevant insights about the effectiveness of the matching between the SE offerings and the needs of startups. |
| Keywords: | Entrepreneurship, Innovation, ICT policy, Digital Economy, Digital Single Market |
| Date: | 2018–03 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc110945&r=ent |
| By: | Fernanda Mazzotta (Università di Salerno); Ornella Wanda Maietta (Università di Napoli Federico II and CSEF) |
| Abstract: | The aim of this paper is to explore the differential effect of innovation on firm survival. We consider the effect of product, process and organisational innovations controlling for the role of the knowledge context and of firm absorptive capacity. At the end of the 1990s, an ad hoc survey was performed on a representative sample of manufacturing firms located in a NUTS3 area of southern Italy, and information on firm survival has been collected for 15 years. A multivariate endogenous probit model is applied to simultaneously analyse the determinants of innovation and of subsequent firm survival. Our estimates confirm that process innovation is a determinant of firm survival followed by product innovation, whereas evidence of a more novel type suggests that organisational innovation plays only a weak role. Entrepreneurial general and specific human capital exerts no direct beneficial effect on firm duration. The requirement of proper technological knowledge from the local university has been the driver of firm duration with the highest marginal effect. |
| Keywords: | Firm survival, Information network, Human capital, Italian SMEs |
| JEL: | L20 O3 D22 I2 |
| Date: | 2017–04–02 |
| URL: | http://d.repec.org/n?u=RePEc:sef:csefwp:496&r=ent |
| By: | Jové Llopis, Elisenda,; Segarra Blasco, Agustí, 1958- |
| Abstract: | This paper empirically investigates the factors driving the adoption of energy efficiency (EE) and renewable energy (RE) measures in a sample of 8,213 Small and Medium-Sized Enterprises (SMEs) in European countries. Using a bivariate probit model we examine their drivers, complementarities, and potential temporal persistence in three European country clusters (Core countries, Mediterranean countries and New EU members). Our results suggest that sustainable energies actions (EE and RE) are highly persistent both at the firm level and across countries and that there are relevant complementarities between EE and RE practices, as well as other resource efficient practices. In addition, strategies for EE seem to rely more on cost saving and regulations, while those for RE are more linked to public support and environmental awareness. This paper ends with some recommendations for policymakers suggesting that Europe needs to design an energy policy for the SMEs firms that jointly pursues both EE and the diffusion of RE according to the technological gap of each member country. Keywords: energy efficiency, renewable energy, European Union, SMEs firms |
| Keywords: | Energies renovables -- Unió Europea, Països de la, Empreses petites i mitjanes -- Aspectes ambientals -- Unió Europea, Països de la, 338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. Preus, |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:urv:wpaper:2072/306520&r=ent |
| By: | Elin McCallum (Bantani Education); Rebecca Weicht (Bantani Education); Lisa McMullan (The Women's Organisation); Alison Price (Enterprise Evolution) |
| Abstract: | This guide is a tool for those individuals and organisations who wish to explore why, when and how they can use EntreComp, the European Entrepreneurship Competence Framework. The entrepreneurship competence is increasingly recognised as a competence for life, relevant to personal development and fulfilment, finding and progressing in employment, as well as initiating new ventures ranging from community campaigns, social enterprises to new start-up businesses. Why a competence for life? Being creative or thinking about how to do things in new ways is equally relevant to progressing your career as well as coming up with new business ideas. Taking the initiative and mobilizing others to get involved are useful skills when fundraising for your local sports team, or establishing a new social enterprise. Understanding how to put a plan into action and use finances wisely are relevant for your own life and for business planning in an SME. EntreComp is new, so those using it are just starting out in their use of the framework and exploring how it can be implemented in practice. The examples gathered here are intended to illustrate the breadth and depth of potential for using EntreComp, but this will of course evolve through time and experience. This guide is intended to inspire more actors across Europe and beyond to get involved, to join a community of participants committed to embedding these competences for life into education, communities, work and enterprise. |
| Keywords: | EntreComp, Entrepreneurship, Entrepreneurship Education, Entrepreneurial Learning, Key Competences for Lifelong Learning, Human Capital |
| Date: | 2018–03 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc109128&r=ent |
| By: | Gómez, Miguel García-Posada |
| Abstract: | We assess the impact of credit constraints on investment, inventories and other working capital and firm growth with a large panel of small and medium-sized enterprises from 12 European countries for the period 2014-2016. The data come from the Survey on the access to finance of enterprises (SAFE), a survey that is especially designed to analyse the problems in the access to external finance of European SMEs. The key identification challenge is a potential reverse-causality bias, as firms with poor investment and growth opportunities may have a higher probability of being credit constrained. We implement several strategies to overcome this obstacle: proxies for investment opportunities, lagged regressors, random effects and instrumental variables. Our findings suggest that credit constraints, both in bank financing and other financing (e.g. trade credit), have strong negative effects on investment in fixed assets, while the impact on firm growth and working capital is less robust. JEL Classification: G30, G31, G32 |
| Keywords: | firm growth, instrumental variables, investment, ordered probit, working capital |
| Date: | 2018–02 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20182126&r=ent |
| By: | Jean-Pierre Boissin (CERAG - Centre d'études et de recherches appliquées à la gestion - CNRS : UMR5820 - Université Pierre Mendès-France - Grenoble II - Université Pierre-Mendès-France - Grenoble II); Véronique Favre-Bonté (IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc); Sandrine Fine Falcy (CERAG - Centre d'études et de recherches appliquées à la gestion - UPMF - Université Pierre Mendès France - Grenoble 2 - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Nations seek greater diffusion of entrepreneurial culture among students, yet discussions about the appropriate educational approaches continue to be marked by divergent opinions. To provide a better understanding of entrepreneurial intention formation among students, research is critical. This article, in keeping with this goal, investigates the entrepreneurial capacities and attitudes of students toward entrepreneurship, by identifying subgroups within a student population that is often regarded as homogeneous. Although literature on entrepreneurial intentions is abundant, more recent research calls for more empirical investigations that can outline the differences in entrepreneurial intentions among subgroups of student populations. |
| Keywords: | Entrepreneurial intention,capacity to start a business,student,entrepreneurship |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01700675&r=ent |
| By: | Coll Martínez, Eva |
| Abstract: | In recent years creativity has gained importance because of its potential to generate economic growth based on their role in the innovation processes and economic development. In this regard, this work is twofold. First, it addresses the mechanisms through which creativity promotes knowledge externalities and innovation contributing to regional economic growth and competitiveness. And second, it aims to analyse the role of creativity, diversity and innovation on entrepreneurship at a municipality level for Catalonia. To conduct this analysis, information provided by the Register of Industrial Establishments of Catalonia (REIC) – a register that includes the creation of new establishments located in Catalonia between 2002 and 2007 – , and by the Statistical Institute of Catalonia (IDESCAT) are used. Main results highlight the role of creativity in the spreading of ideas and the creation of new projects encouraging entrepreneurship at local level. However, the role of cultural diversity does not seem to be so relevant in deciding the location of new firms in Catalan municipalities. Finally, intellectual and technological productivity in the municipality (in terms of patents) favours the creation of new firms but only in municipalities closer to technologic and scientific centres. Keywords: creativity, diversity, innovation, entrepreneurship, industrial location JEL codes: O31, M14, O32, L26, O14 |
| Keywords: | Innovacions tecnològiques -- Catalunya, Emprenedoria -- Catalunya, Localització industrial -- Catalunya, Creativitat en els negocis -- Catalunya, 332 - Economia regional i territorial. Economia del sòl i de la vivenda, |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:urv:wpaper:2072/306521&r=ent |
| By: | Elena Petrenko (SUSU - South Ural State University); Nurlan Iskakov (Almaty Management University); Oleg Metsyk (Institute of Economics, The Ural Branch of Russian Academy of Sciences); Tatyana Khassanova (SUSU - South Ural State University) |
| Abstract: | Favorable ecosystem of entrepreneurship plays crucial role for successful development of small and medium enterprises (SMEs) and their sustainability. One of preconditioms of encouraging business environment is its' stability, and trust in long-term stability. Meanwhile the global economic crisis has created a state of economic and political instability, what consequently affected trust of business entities, and therefore contributed to increase of social and economic risks. The article discusses the decline of trust in the entrepreneurship of Kazakhstan, examines the causes and consequences of loss of confidence as an important institutional resource. |
| Keywords: | state,corruption,SMEs,entrepreneurship ecosystem,trust,business risks,economics,Kazakhstan |
| Date: | 2017–09–29 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01724560&r=ent |
| By: | Signore, Simone; Torfs, Wouter |
| Abstract: | The creation of value through innovation is among the defining traits of new technology-driven ventures. In this paper we contribute to the literature by investigating the value of innovations for start-ups supported by EIF in the years 1996 to 2014, as measured through patent applications. The paper is structured around two main parts. The first part presents a series of descriptive statistics on EIF's VC investee patent portfolio and discusses some of the strategic aspects of patenting, such as timing and geographical coverage. The second part develops an econometric model to estimate the Euro-value of innovations based on patent renewal data, following the seminal work of Pakes and Schankerman (1984). We observe that start-ups are efficient at transforming financial capital obtained through VC financing into innovative capital. On average, for every Euro of EIF-supported VC financing, start-ups generated 2.74 Euro of private innovation value. |
| Keywords: | EIF,venture capital,innovation,patents,renewal data,start-ups |
| JEL: | G24 M13 O32 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:eifwps:201745&r=ent |
| By: | Gvetadze, Salome; Kraemer-Eis, Helmut; Lang, Frank; Prencipe, Dario; Signore, Simone; Torfs, Wouter |
| Abstract: | This EIF Working Paper outlines the methodology underlying the new EIF SME Access to Finance (ESAF) Index. This newly developed index aims at monitoring developments in SMEs' access to financial resources in the EU and is going to be periodically updated. It fills a gap as such an index does not exist. Composite indicators can be a useful tool in the policy maker's toolbox, as they are able to summarise a complex phenomenon in one summary statistics that is straightforward to track over time, or compare between countries. However, composite indicators also have the reputation of being black boxes. Therefore, we strive for transparency by motivating all methodological considerations made throughout the construction of the ESAF Index. |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:eifwps:201847&r=ent |
| By: | Masiak, Christian; Moritz, Alexandra; Lang, Frank |
| Abstract: | This EIF Working Paper investigates financing patterns of European SMEs by looking at a large number of different financing instruments and their complementary and substitutive effects, using the SAFE dataset collected in 2015. We develop an empirical taxonomy of SME financing patterns in Europe, applying cluster analyses. In order to investigate the cluster stability over time, we replicate an approach by Moritz et al. (2016)2, who used the SAFE data from 2013. In addition, we extend that study by looking at the role of the country-specific macroeconomic and institutional environment for the financings patterns of SMEs. Our results confirm the results of Moritz et al. (2016) and show that European SME financing is not homogenous, but that different financing patterns exist. Our cluster analysis identifies seven distinct SME financing types based on the financing instruments used: mixed-financed SMEs with focus on other loans, mixed-financed SMEs with focus on retained earnings or sale of assets, state-subsidised SMEs, debt-financed SMEs, trade-financed SMEs, asset-based financed SMEs, and internally-financed SMEs. Moreover, the SME financing types can be profiled according to their firm-, product-, industry-, and country-specific characteristics. Our findings can support policy makers in assessing the impact of changes in policy measures for SME financing. |
| Keywords: | EIF,European SME financing,financing patterns,empirical taxonomy,cluster analysis |
| JEL: | G32 G21 G24 G18 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:eifwps:201740&r=ent |
| By: | Masiak, Christian; Block, Joern H.; Moritz, Alexandra; Lang, Frank; Kraemer-Eis, Helmut |
| Abstract: | The vast majority of firms in Europe are micro firms. Still, we know little about their financing patterns. Our paper aims to close this gap. Based on a large European firm-level data set, we find that micro firms differ in their financing patterns from small and medium-sized companies. Our empirical results show that micro firms are more likely to use internal financing instruments, whereas they are less likely to use state subsidies, trade credit or asset-based financing instruments. Furthermore, micro firms differ from medium-sized firms by using more short-term debt (credit card overdrafts, credit lines and bank overdrafts). The implications of these findings for micro firms and policy makers are discussed. |
| Keywords: | Micro firms,SMEs,enterprise financing in Europe,financing patterns |
| JEL: | C30 G20 G30 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:eifwps:201744&r=ent |
| By: | Kraemer-Eis, Helmut; Lang, Frank; Torfs, Wouter; Gvetadze, Salome |
| Abstract: | This European Small Business Finance Outlook (ESBFO) provides an overview of the main markets relevant to EIF (equity, guarantees, securitisation, microfinance). It is an update of the ESBFO December 2016. We start by discussing the general market environment, then look at the main aspects of equity finance and guarantees/SME Securitisation (SMESec). Finally, before we conclude, we briefly highlight important aspects of microfinance in Europe. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:eifwps:201743&r=ent |
| By: | Kraemer-Eis, Helmut; Botsari, Antonia; Gvetadze, Salome; Lang, Frank; Torfs, Wouter |
| Abstract: | This European Small Business Finance Outlook (ESBFO) provides an overview of the main markets relevant to EIF (equity, guarantees, securitisation, microfinance). It is an update of the June 2017 ESBFO edition. We start by discussing the general market environment, then look at the main aspects of equity finance and guarantees/SME Securitisation (SMESec). Finally, before we conclude, we briefly highlight important aspects of microfinance in Europe and – for the first time and due to the rising importance of the segment – we complement our analysis by a chapter on Fintech. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:eifwps:201746&r=ent |
| By: | Amélie Bohas (CRET-LOG - Centre de Recherche sur le Transport et la Logistique - AMU - Aix Marseille Université); Julie Fabbri; Pierre Laniray (DRM - Dauphine Recherches en Management - Université Paris-Dauphine - CNRS - Centre National de la Recherche Scientifique); François-Xavier De Vaujany (Management & Organisation - DRM - Dauphine Recherches en Management - Université Paris-Dauphine - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This article is interested in the evolution of forms of employment and organizations as hybridization employment and entrepreneurship (or employment and freelancing). Through this exploratory research, we wish to share our first grounded reports on this reflection. Our preliminary results are based on fieldwork carried out between November 2014 and November 2016 by the network RGCS (Research Group on Collaborative Spaces) and in particular on: (1) some descriptive statistics stemming from the online investigation led in 2016 on the transformations of work and its spaces; (2) empirical observations based on data collected during the organization of 52 events (workshops, seminars, etc.) in 7 countries and 82 visits of third-places and other collaborative spaces realized in about ten countries. Having replaced in a historical perspective the evolution of work and the forms of employment and having clarified the adopted methodology, we present our reports by distinguishing the individual level of the new working practices of the organizational level. In regards to the individual dimension, we are interested in the forms of employment-entrepreneurship hybridization that represent the case of slashers and alternated entrepreneurship. In regards to the organizational dimension, we underline the increasing hybridization between employees and entrepreneurs (or freelancers) within certain types of communities and modes of governance mixing employees, freelancers, and entrepreneurs (excubation, transition, open innovation, new forms of community management) or still in relation with collaborative social movements (more and more imported in an organizational frame). |
| Abstract: | Cet article s'intéresse aux nouvelles pratiques de travail, en particulier les formes d'activités et d'organisation qui hybrident salariat et entrepreneuriat. A travers cette recherche exploratoire et descriptive, nous souhaitons partager nos premiers constats de terrain sur cette réflexion. Nos résultats préliminaires s'appuient sur les études empiriques réalisées entre novembre 2014 et novembre 2016 par le réseau RGCS (Research Group on Collaborative Spaces) et en particulier sur : (1) quelques statistiques descriptives issues de l'enquête en ligne menée en 2016 sur les transformations du travail et de ses espaces ; (2) des observations empiriques basées sur des données récoltées lors de l'organisation de 52 évènements (ateliers, séminaires, etc.) dans 7 pays et 82 visites de tiers-lieux et autres espaces collaboratifs réalisées dans une dizaine de pays. Après avoir replacé dans une perspective historique l'évolution du travail et des formes d'emploi et explicité la méthodologie adoptée, nous présentons nos constats en distinguant le niveau individuel des nouvelles pratiques de travail du niveau organisationnel. Sur la dimension individuelle, nous nous intéressons aux formes d'hybridations salariat-entrepreneuriat que représentent le cas des slashers et de l'entrepreneuriat-alterné. Sur la dimension organisationnelle, nous soulignons l'hybridation croissante entre salariés et entrepreneurs (ou freelancers) au sein de certains types de communautés et de modes de gouvernance mêlant salariés, freelancers et entrepreneurs (excubation, transition, open innovation, nouvelles formes de community management) ou encore dans la relation aux mouvements sociaux collaboratifs (de plus en plus importés dans un cadre organisationnel). |
| Keywords: | Open innovation ,Hybridization,New working practices,Alternated Entrepreneurship,Slasher,Hybridation,Nouvelles pratiques de travail,Entrepreneuriat-alterné |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01731181&r=ent |