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on Entrepreneurship |
| By: | Guzman, Jorge |
| Abstract: | I study the impact of better law on regional entrepreneurship. To do so, I take advantage of the introduction of new corporate acts modeled after the Model Business Corporation Act (MBCA), a compendium of best practices created by the American Bar Association, and new data measuring new business registrations by state in the post-war era. From the 1950's to 1970's, nineteen U.S. states introduced new corporate law following the MBCA. While the introduction is endogenous, an approach comparing out of state expansions to local registrations allows me to recover the direct effect of law on entrepreneurship (i.e., the effect on firm formation conditional on general ecosystem improvements). The are no pre-trends using this approach. I estimate better law increases the rate of new local corporations by 5% per year, which is confirmed in robustness tests and two instrumental variables approaches that account for state-level confounders. Of the new corporations, one tenth are substitutions from other firm types, and the rest net-new firms. Consistent with a mechanism whereby better law increases investor protection and entrepreneurship, states with more rudimentary institutions benefited more, and states that only did partial adoption of the MBCA saw no benefit. |
| Date: | 2020–03–18 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:967ph&r=all |
| By: | Vladimir Smirnyagin |
| Abstract: | This paper studies firm dynamics over the business cycle. I present evidence from the United Kingdom that more rapidly growing firms are born in expansions than in recessions. Using administrative records from Census data, I find that this observation also holds for the last four recessions in the United States. I also present suggestive evidence that financial frictions play an important role in determining the types of firms that are born at different stages of the business cycle. I then develop a general equilibrium model in which firms choose their managers’ span of control at birth. Firms that choose larger spans of control grow faster and eventually get to be larger, and in this sense have a larger target size. Financial frictions in the form of collateral constraints slow the rate at which firms reach their target size. It takes firms longer to get up to scale when collateral constraints tighten; therefore, businesses with the largest target size are affected disproportionately more. Thus, fewer entrepreneurs find it profitable to choose larger projects when financial conditions deteriorate. Using Bayesian methods, I estimate the model using micro and aggregate data from the United Kingdom. I find that financial shocks account for over 80% of fluctuations in the formation of businesses with a large target size, and TFP and labor wedge shocks account for the remaining 20%. An independently estimated version of the model with no choice over the span of control needs larger aggregate shocks in order to account for the same data series, suggesting that the intensive margin of business formation is important at business cycle frequencies. The model with the choice over the span of control generates an empirically relevant and non-targeted collapse in the right tail of the cumulative growth distribution among firms started in recessions, while the model without such a choice does not. The paper also discusses implications for micro-targeted government stimulus policies. |
| Keywords: | Business cycles, firm dynamics |
| JEL: | E23 E32 H25 |
| Date: | 2020–03 |
| URL: | http://d.repec.org/n?u=RePEc:cen:wpaper:20-09&r=all |
| By: | Amamou, Raschid; Gereben, Áron; Wolski, Marcin |
| Abstract: | We look at the impact of intermediated funding provided by the European Investment Bank (EIB) on the performance of small and medium-sized enterprises (SMEs) in the 28 member countries of the European Union between 2008 and 2014. We use a combination of propensity score matching and difference-in-differences to evaluate the impact of EIB lending on corporate performance using firm-level data. We find that EIB lending had a positive effect on employment, firm size, investment and innovation capacity, and it also increased firms' leverage. We also find that the positive impact of EIB funding is higher in the countries of Central and East Europe and also in South Europe, while somewhat smaller, yet still significant, in West and North Europe. All in all, our results indicate that EIB-supported funding made a significant and positive difference to the economic and financial performance of the beneficiary SMEs. |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:eibwps:202004&r=all |
| By: | Alaref,Jumana Jamal Subhi; Koettl-Brodmann,Stefanie; Premand,Patrick |
| Abstract: | Despite the widespread popularity of entrepreneurship education, there is thin evidence on its effectiveness in improving employment outcomes over the medium to long term. A potential time lag between entrepreneurial intentions and actions is sometimes presented as a reason why employment impacts are rarely observed. Based on a randomized control trial among university students in Tunisia, this paper studies the medium-term impacts of entrepreneurship education four years after students'graduation. The paper complements earlier evidence that documented small, short-term impacts on entry into self-employment and aspirations toward the future one year after graduation. The medium-term results show that the impacts of entrepreneurship education were short-lived. There are no sustained impacts on self-employment or employment outcomes four years after graduation. There are no lasting effects on latent entrepreneurship either, and the short-term increase in optimism also receded. |
| Keywords: | Private Sector Economics,Private Sector Development Law,Marketing,Labor Markets,Employment and Unemployment,Educational Sciences |
| Date: | 2019–01–15 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:8701&r=all |
| By: | Armand Fouejieu; Anta Ndoye; Tetyana Sydorenko |
| Abstract: | Countries in the MENAP and CCA regions have the lowest levels of financial inclusion of small and medium enterprises (SMEs) in the world. The paper provides empirical evidence on the drivers of SME access to finance for a large sample of countries, and identifies key policy priorities for these two regions: economic and institutional stability, competition, public sector size and government effectiveness, credit information infrastructure (e.g., credit registries), the business environment (e.g., legal frameworks for contract enforcement), and financial supervisory and regulatory capacity. The analysis also shows that improving credit information, economic competition, the business environment along with economic development and better governance would help close the SME financial inclusion gap between MENAP and CCA regions and the best performers. The paper concludes on the need to adopt holistic policy strategies that take into account the full range of macro and institutional requirements and reforms, and prioritize these reforms in accordance with each country’s specific characteristics. |
| Date: | 2020–03–13 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:20/55&r=all |
| By: | Agnès Mazars Chapelon (MRM - Montpellier Research in Management - UM1 - Université Montpellier 1 - UM3 - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier); Philippe Chapellier (MRM - Montpellier Research in Management - UM1 - Université Montpellier 1 - UM3 - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier); Sophie Mignon (MRM - Montpellier Research in Management - UM1 - Université Montpellier 1 - UM3 - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier) |
| Abstract: | In microentreprises, considering the management knowledge basis of the entrepreneur, the generation of management innovation (MI) is a crucial question. In this qualitative case study of a microentreprise, we follow Mol and Birkinshaw (2014) who claimed for research on MI generation, highlighting "how relations with external and internal partners can deliver knowledge" (2009). We focus on the entrepreneur-CPA relationship to study how the relationship between the CPA as an external change actor and the entrepreneur as an internal change actor can be a lever of MI generation in microentreprises. More particularly, we aim at understanding how the external CPA knowledge can be internalised by the entrepreneur in microentreprises through the acquisition, assimilation, transformation and exploitation of knowledge. And more particularly, we propose to highlight the key drivers of the generation of MI in microentreprises through the study of the process by which a potential ACAP becomes realised (Cohen and Levinthal, 1990; Lane et al., 2006; Gebauer et al., 2012; Marabelli and Newell, 2014). |
| Keywords: | management innovation,absorptive capacity,microentreprise,relationship,CPA,entrepreneur |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02061860&r=all |
| By: | Lucas DuPriest (Consultor Privado) |
| Abstract: | This paper investigates the location patterns of coworking spaces, the effects of coworking spaces on the local and urban context, and coworking spaces potential opportunities for the creation of local economic development, issues that have been neglected in a Bolivian context by the existing literature. The focus of this paper is on La Paz, Bolivia’s political capital and the city in Bolivia which host the largest number of coworking spaces. The paper addresses three main questions: (1) Where are the main locations of coworking spaces in La Paz? (2) to what extent do coworking spaces generate transformative effects on the local respectively the urban scale? (e.g. physical transformations, changes in practices, community building) (3) how do coworking spaces create potential opportunities for local economic development? Desk research demonstrated that location patterns of coworking spaces are concentrated to two main commercial areas of the city, as well as to the main infrastructural and transportation axes. Field research highlighted local and urban effects, such as local community initiatives and micro-urban transformations in both spaces and practices. Lastly, field research assessed coworking spaces role in the socio-economic ecosystem. Three main typologies have been identified: the first type of coworking spaces act as “social entrepreneurship and start-up incubators” with a supportive role and closer ties to social and urban issues, the second type of coworking spaces act as “coffee and cowork incubators” providing cafés with shared workspaces, the third type of coworking spaces act as “real estate business incubators” and are mainly a commercial product responding the demand for flexible office spaces. This paper, therefore, helps to fill the gap in the literature about the location patterns of these new working spaces and their effects at different scales both in terms of spaces and practices, as well as local economic development. |
| Keywords: | Coworking spaces, sharing economy, location patterns, urban effects, local economic development, innovation. |
| JEL: | D85 L84 O12 O31 |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:adv:wpaper:201907&r=all |
| By: | Jean-Philippe Berrou (LAM - Les Afriques dans le monde - CNRS - Centre National de la Recherche Scientifique); Francois Combarnous (GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique); Thomas Eekhout (GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique); Kevin Mellet (SENSE - Sociology and Economics of networks and Services - France Telecom R&D) |
| Abstract: | In sub-Saharan Africa, the vast majority of businesses belong to the so-called "informal" sector. As yet, little is known about their take up of the mobile phone, which suddenly and massively irrupted into their daily operations within less than a decade. This article, which is based on an original study of 500 entrepreneurs in the informal sector in Dakar, combines quantitative and qualitative methods. Its contribution is threefold. First, the study provides broad and detailed empirical insight into the adoption and use of mobile phones by informal entrepreneurs in sub-Saharan Africa. Second, the article draws on an original survey and analysis methodology to propose a robust and comprehensive typology of these entrepreneurs' business uses of mobile phones. Finally, it provides a statistical analysis of the relationship between mobile phone uses and economic performance. Ultimately, this article seeks to contribute to a better understanding of the informal sector and its specific dynamics. |
| Abstract: | En Afrique subsaharienne, l'immense majorité des entreprises appartiennent au secteur dit « informel ». On sait encore peu de choses sur la façon dont elles se sont emparées du téléphone mobile, qui a fait une brusque et massive irruption dans leur quotidien en moins d'une décennie. S'appuyant sur une enquête originale mêlant méthodes quantitatives et qualitatives, auprès de 500 entrepreneurs du secteur informel de Dakar, l'article apporte trois contributions principales. Premièrement, l'enquête apporte un éclairage empirique ample et détaillé sur l'adoption et les usages du mobile par les entrepreneurs informels d'Afrique subsaharienne. Deuxièmement, l'article propose une typologie robuste et compréhensive des usages professionnels du mobile par ces entrepreneurs, à partir d'une méthodologie d'enquête et d'analyse originale. Enfin, l'article restitue une analyse statistique des relations entre usages du mobile et performances économiques. Il s'agit in fine de contribuer à une meilleure connaissance du secteur informel et de ses dynamiques propres. |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02506855&r=all |
| By: | Hugo Gaillard (GAINS - Groupe d'Analyse des Itinéraires et des Niveaux Salariaux - UM - Le Mans Université) |
| Abstract: | L'entreprise émancipatrice : un équilibre possible entre inclusion et disputatio autour des questions religieuses au travail. The emancipatory firm: a possible balance between inclusion and disputatio on religious issues at work. RÉSUMÉ : Cet article s'intéresse aux influences des conceptions métaphysiques du dirigeant dans leur aspect militant sur l'entreprise. Grace à une approche théorique dans un premier temps, nous retraçons les injonctions contemporaines à l'inclusion que nous mettons en perspectives de travaux pluridisciplinaires sur le disputatio. Via une étude qualitative couplée à l'observation, nous dressons le portrait de l'entreprise présentée par son dirigeant comme émancipatrice en deuxième partie. Cette étude de cas d'une entreprise de l'ouest de la France pose les traits saillants de l'entreprise émancipatrice comme nouvelle forme d'organisation, libérée, inclusive et ouverte au débat démocratique, et s'inscrit en prolongement des travaux sur les entreprises affinitaires. En conclusion, un modèle de l'entreprise émancipatrice est présenté schématiquement, et la place de cette entreprise dans le paysage entrepreneurial français est notamment discutée. La réflexion est ensuite élargie à la sphère sociétale. |
| Date: | 2018–12–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02434164&r=all |
| By: | Jean-Philippe Berrou (LAM - Les Afriques dans le monde - CNRS - Centre National de la Recherche Scientifique); Damien Girollet (GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique) |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-02507441&r=all |
| By: | Huchtemann, Jan-Philipp |
| Abstract: | Neue digitale Technologien gelten als Problemlöser für bestehende Herausforderungen des Agribusiness. Als Transmissionsriemen dieser Technologien rücken verstärkt junge, innovative Wachstumsunternehmen in den Fokus von Wirtschaft, Politik, Verbänden und Medien. Die Förderung des Unternehmertums und die Vernetzung von Gründern sind zentrale Anliegen von Branchenevents und der medialen Berichterstattung. Die Analyse von Gründungen sowie unternehmerischen Neigungen agrarwissenschaftlicher Studierender in Deutschland waren bislang nicht Gegenstand wissenschaftlicher Untersuchungen. Der vorliegende Beitrag nutzt den General Enterprising Tendency v2 Test (GET2-Test) als Messinstrument, um die unternehmerischen Neigungen und Charaktereigenschaften von 513 Studierenden der Agrarwissenschaften in Deutschland zu untersuchen. Die Ergebnisse zeigen, dass die Studierenden einen GET2-Test-Punktwert von 33,64 und somit eine mittlere unternehmerische Neigung aufweisen. Es bestehen keine signifikanten Unterscheide zwischen den gewählten Studienschwerpunkten sowie den Studiengängen. Vielmehr unterscheiden sich die Studierenden hinsichtlich des Geschlechts, der Altersgruppe, einer Selbstständigkeit der Eltern sowie durch den Besuch einer Lehrveranstaltung im Studiengang bzw. der Teilnahme an anderen Gründungsformaten signifikant voneinander. Es zeigt sich, dass die bisherige Gründerausbildung an den agrarwissenschaftlichen Hochschulen noch ausbaufähig ist und das Thema Unternehmensgründung ein stärkerer Bestandteil von Studium, Lehre und Wissenschaft werden sollte. |
| Keywords: | Entrepreneurship,Agribusiness,Studierende,unternehmerische Neigung,GET2-Test |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:daredp:2002&r=all |