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on Entrepreneurship |
| By: | Binder, Martin; Blankenberg, Ann-Kathrin |
| Abstract: | Self-employment contributes to employment growth and innovativeness and many individuals want to become self-employed due to the autonomy and exibility it brings. Using "subjective well-being" as a broad summary measure that evaluates an individual's experience of being self-employed, the chapter discusses evidence and explanations why self-employment is positively associated with job satisfaction, even though the self-employed often earn less than their employed peers, work longer hours and experience more stress and higher job demands. Despite being more satisfied with their jobs, the self-employed do not necessarily enjoy higher overall life satisfaction, which is due to heterogeneity of types of self-employment, as well as motivational factors, work characteristics and institutional setups across countries. |
| Keywords: | self-employment,entrepreneurship,subjective well-being,job satisfaction,life satisfaction |
| JEL: | L26 J24 J28 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:744&r=all |
| By: | Fossen, Frank M. (University of Nevada, Reno); König, Johannes (DIW Berlin); Schröder, Carsten (DIW Berlin) |
| Abstract: | We present first evidence how individual risk preferences shape entrepreneurial investment among the very wealthy using novel survey data from the top of the wealth distribution, which have been added to the 2019 German Socio-economic Panel Study. The data include private wealth balance sheets, in particular the value of own private business assets, and a standard measure of risk tolerance. We find that wealthy individuals are more likely to be entrepreneurs and invest a larger share of their wealth in their own businesses when they are more willing to take risks. These associations are stronger among wealthy than among less wealthy individuals. The results imply that policies affecting the riskiness of income and wealth, such as tax policy and bankruptcy law, affect risky investment decisions at the top of the wealth distribution in ways strongly determined by individual risk tolerance. Since the wealthy dominate aggregate risky investment, their risk preferences must be taken into account for theory development, empirical analysis, and policy evaluations. |
| Keywords: | wealth, entrepreneurship, risk, portfolio choice |
| JEL: | J22 J23 L26 D14 |
| Date: | 2020–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp13951&r=all |
| By: | CREHAN Patrick |
| Abstract: | The European Commission provides a definition of the SME intended to create a level playing field across Europe for businesses applying for grants or other assistance intended only for SMEs. This definition has been in force since January 1, 2005. Without going into too much technical detail, the definition consists of the following three rules, namely that the — The company has less than 250 employees, — That either its turnover is less than €50M or its balance sheet is less than €43M, — That these numbers are computed based on weighted totals from the company and related entities, depending on whether the company is considered to be "autonomous", "partnered" or "linked." This definition was challenged by the EVCA in 2009 and by Business Europe 2017. Both made the point that the definition as it stands is unfair to VC-backed enterprise on the basis that some VC-backed start-ups risked exclusion from SME support programs because the SME definition would consider them "linked to" or "partnered with" giant financial actors, unfairly inflating their size and pushing them beyond the threshold of eligibility for SME programs. Access to SME programs by VC backed enterprise is not the only issue at stake for a possible revision of the definition of the SME. It is possible that other issues may arise in the aftermath of the pandemic, and as an unintended consequence of efforts to support business and employment in the coming years. So, now is a good time to look into this in more detail to see if there is a need to revise the definition of the SME in Europe, or if it is advisable to create exceptions for the treatment of VC-backed enterprise in order to avoid their unfair treatment or exclusion from important sources of SME support. In its letter of 2009, the EVCA referred to the case of Italy, suggesting that this would provide a better model for the case of VC-backed enterprise. Although the letter did not go further in specifying what was good about the Italian definition, this provide an interesting place to start to explore the scope for a possible revision. The Italian definition, still in use today, considers a business to be medium sized if its turnover is less than €355M and if it employs less than 500 people. This is very different from that employed by the EU and begs the question as to how one might decide the… — Criteria to use, how many and in what combination — Thresholds that mark the boundary between small, medium, and large enterprise — Related entities to be considered a part of the company in order to determine its "true" size A search of the literature reveals that there are at least 50 different definitions of small business in application around the world. Although the literature is not extensive, it does refer to the principles at work, the criteria applied, various debates about the relevance of different criteria as well as the role of models for SME growth in all of these debates. One of the most important criteria is "industry policy." The most comprehensive information was obtained in the case of the US. This was pieced together mainly from a careful reading of documents available on or referred to from the website of the Small Business Administration (SBA). In this was it was possible to put together a comprehensive picture of how small business size standards are determined in the US, their origin in government procurement programs going back to the 1920s and their evolution up until today. The original motivation for small business size standards in the US was a need to rationalize programs for small set-aside, that reserved up to 23% of all federal procurement for the small business sector. They are revised once a decade and size standards revised in 2009 were updated once again in 2019. The size standards for small business set-aside vary from sector to sector and are adjusted between major revision based on indexes such as the rate of inflation or worker productivity. In the 2019 revision… — Size standards for 532 sectors are based only on the number of employees. The upper limits ranging from 100 to 1,500 depending on the sector. — Size standards for 505 sectors are based on turnover alone. The upper limits for these ranging from $1M to $41.5M depending on the sector. — A small number of sectors have size standards based on their total assets, with the upper limit being $600M. The main criteria applied for access to the SBIR small business research and innovation programs, intended to encourage the participation of small business in federally funded research programs is that they employ no more than 500 people. It is interesting to note that the US federal government provides a "right of rebuttal" to companies that feel they have been wrongly excluded from small business programs. The rules relating to autonomy, ownership and control are quite different from those employed in the EU, but no less complex or difficult to apply. The issue of access to small business programs by VC- or PE-backed enterprise has also been a subject of debate. It has been a subject of great controversy in the context of the PPP program intended to help business affected by the pandemic. Since 2012, federal agencies have been given the possibility to extend the definition of small business to companies that are majority owned by VC or PE funds, on the basis of the so called "section 5107 authority." The choice has been left up to the individual agencies to decide if they will adopt this new rule or not. Not all have done so. Many are unsure if it is necessary or right. Nevertheless, this facility has been evaluated and so far, there has been no adverse impact on research or competition, and it looks set to continue in future. There was no complex arithmetic behind the legislation. It was based simply on a belief that it would encourage innovative science based small business to seek support from the VC- or PE- sector, without fear of being excluded from sources of research funding reserved for small business. The most recent evolution on this front, has been the granting access by VC- and PE-backed enterprise to the Pay-check Protection Program (PPP), at least a part of which was managed by the SBA. Recently released data has been examined by industry analysts and journalists. Key observations include… — Almost 10,000 VC- and PE-backed companies (9,657) received PPP loan support — They received $14.3B of the approximately $500B distributed — 4,800 PE- and VC-backed recipients had raised funding rounds in 2018 to 2020 — 2,267 of those raised funding in 2019 — 3 of the top 5 investors whose portfolio companies applied for help were start-up accelerators such as Techstars and Y Combinator To conclude: — The idea of a single definition for all of the EU and for all policy purposes, though understandable, may be too ambitious and risks depriving fast growing small business in Europe from resources which may help them succeed, especially in the context of dramatic shocks to both business and consumers due to the pandemic. — In particular the rules for ownership and control are too complex and should be revised. Perhaps with a view to carving out exceptions to the general rule, for cases where it is clearly in the public interest. This requires a clear understanding of what public interest is at stake in this case. — There is considerable variation in the way small business is identified around the world, in terms of the criteria used, in terms of the thresholds applied and in terms of what other entities to include in order to determine the "true" size of the enterprise. — It may be useful to go back to basics and argue ab-initio as to what the definition should be, in order to achieve explicit policy goals, and to avoid unintended consequences which are clearly identified in advance and against which proposed definitions can be tested. With a view to clarifying issues of public interest, these are referred to in the main text and further elaborated upon in a series of annexes intended to clarify the role of VC in the growth of small business, the difference between VC and PE, the complex web of relationships that characterize the LP-GP-PC universe, the challenges they face now and those they may face in the future. |
| Keywords: | SME definition, VC-backed SMEs, financial constraints |
| Date: | 2020–12 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc123296&r=all |
| By: | Olena Havrylchyk (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, Labex ReFi - UP1 - Université Panthéon-Sorbonne); Aref Mahdavi-Ardekani (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This paper explores the short_term impact of borrowing via lending_based crowdfunding on performance and health of small and medium enterprises (SMEs) in France. We find that firms borrowing from lending-based crowdfunding platforms are more dynamic (higher asset growth and higher profitability) and innovative, but they have lower leverage, less cash, higher funding costs and less tangible assets that could be pledged as as collateral. To account for this selection bias, we construct three control groups by using Propensity Score Matching, Mahalanobis Distance Matching and Coarsened Exact Matching methods and then run difference-in-difference regressions. We find that borrowing via lending-based crowdfunding platforms increases SMEs' leverage and interest rate burden in the short-term, but these impacts disappear after two years. We observe asset growth during the year of borrowing, but no impact on sales growth, investment, employment or profitability. |
| Keywords: | lending-based crowdfunding,firm financing,firm performance,informational asymmetry |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-02994903&r=all |
| By: | Coad, Alex (Waseda Business School); Daunfeldt, Sven-Olov (Institute of Retail Economics); Halvarsson, Daniel (The Ratio Institute) |
| Abstract: | In the race to the South Pole, Roald Amundsen’s expedition covered an equal distance each day, irrespective of weather conditions, while Scott’s pace was erratic. Amundsen won the race and returned without loss of life, while Scott and his men died. We investigate how firms’ sales growth deviate from the long-run average growth path. Our baseline results suggest that growth path volatility is associated with higher growth of sales and profits, but is also associated with higher exit rates. This is driven by firms with negative growth rates. For positive-growth firms, volatility is negatively associated with both sales growth and survival. |
| Keywords: | Firm dynamics; Sales growth; Firm exit; Growth paths; Scale-up; Post-entry growth |
| JEL: | D22 L25 L26 |
| Date: | 2020–12–25 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:ratioi:0344&r=all |
| By: | Ksenija Vukovi? (Faculty of Organization and Informatics, University of Zagreb) |
| Abstract: | The aim of this article is to explore the positioning of female entrepreneurs in GEM reports for the Republic of Croatia between 2002 and 2018. The research adopts a qualitative approach by using critical discourse analysis. The research began with content analysis looking for content related to the positioning of women and their entrepreneurship and the creation of a timeline of discussion topics. In the second stage, two-level coding system was deployed to find the dominant discourse as well as the implicit discourses. We have found the legacy of discourse subordinating female entrepreneurship to other goals. The dominant discourse is growth-supporting: the imperative of firm growth stands before gender equality. |
| Keywords: | Female entrepreneurs, GEM, Croatia, critical discourse analysis |
| JEL: | L26 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:11312865&r=all |
| By: | Sebnem Kalemli-Ozcan; Pierre-Olivier Gourinchas; Veronika Penciakova; Nick Sander |
| Abstract: | We estimate the impact of the COVID-19 crisis on business failures among small and medium size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost-minimization and measure each firm’s liquidity shortfall during and after COVID-19. Our framework allows for a rich combination of sectoral and aggregate supply, productivity, and demand shocks. We estimate a large increase in the failure rate of SMEs under COVID-19 of nearly 9 percentage points, ab-sent government support. Accommodation & Food Services, Arts, Entertainment & Recreation, Education, and Other Services are among the most affected sectors. The jobs at risk due to COVID-19 related SME business failures represent 3.1 percent of private sector employment. Despite the large impact on business failures and employment, we estimate only moderate effects on the financial sector: the share of Non Performing Loans on bank balance sheets would increase by up to 11 percentage points, representing 0.3 percent of banks’ assets and resulting in a 0.75 percentage point decline in the common equity Tier-1 capital ratio. We evaluate the cost and effectiveness of various policy interventions. The fiscal cost of an intervention that narrowly targets at risk firms can be modest (0.54% of GDP). However, at a similar level of effectiveness, non-targeted subsidies can be substantially more expensive (1.82% of GDP). Our results have important implications for the severity of the COVID-19 recession, the design of policies, and the speed of the recovery. |
| Keywords: | COVID-19 ;Labor;Supply shocks;Labor supply;Wages;WP,bankruptcy rate,cash flow,wage bill,employment decision,ghost firm |
| Date: | 2020–09–25 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2020/207&r=all |
| By: | Bottasso, Anna; Conti, Maurizio; Robbiano, Simone; Santagata, Marta |
| Abstract: | In this study we leverage on the ancient Roman roads network as a source of exogenous variation in order to identify the causal effect of the modern highways network on innovation using Italian NUTS-3 regional data. Our results suggest that a 10 percent increase in the highways stock in a region causes an increase in the number of patents of about 2-3 percent over a five years period. We document that this positive effect on innovation might in part be explained by a reduction in travel costs that foster collaborations between inventors living in different regions. We also find that the innovation enhancing effect of highways declines over time, possibly because of the introduction of ICT, or the increasing congestion over the Italian network. Finally, we find also evidence of important heterogeneous treatment effects associated to region population density and we cannot rule out the existence of negative spillovers across regions, suggesting possible reorganization of innovative activity across space. |
| Keywords: | transport infrastructure; innovation; regional growth; policy evaluation |
| JEL: | L91 O33 O47 R11 R41 |
| Date: | 2020–12–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:104735&r=all |
| By: | , AISDL |
| Abstract: | Entrepreneurship is one of the main strategies of countries, especially developing countries like Vietnam. Government of Ho Chi Minh City is using entrepreneurship as the effective implement to promote economy. Therefore, finding the barriers to prevent development of entrepreneurship is necessary. The aim of this study is to assess factors that affect the entrepreneurship development in Ho Chi Minh City. This thesis employs quantitative methods to conduct the research with sample size being 154 samples. The author evaluates Cronbach’s Alpha reliability, EFA analysis, Pearson correlation analysis, determines and analyzes multivariate regression models; Multicollinearity assay and ANOVA. The results show that the regression model is suitable and does not have multicollinearity; three factors affect the entrepreneurship development in Ho Chi Minh City: (i) Individual factors; (ii) Environmental factors; (iii) Social – Cultural factors. Based on the found results, the author points out some management implications related to reject the barriers to entrepreneurship in Ho Chi Minh City and give some recommendations for making entrepreneurial policies. |
| Date: | 2020–04–14 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:sh32d&r=all |
| By: | Oladipo, Oluwasheyi S. (State University of New York at Old Westbury); Platt, Katarzyna (State University of New York at Old Westbury); Shim, Hyoung Suk (CUNY - College of Staten Island) |
| Abstract: | Female entrepreneurship has been regarded as inferior to its male equivalent in terms of performance. Literature on gender differences in entrepreneurship focus mostly on showing the differences, but not much literature discusses where the differences come from, and how to mitigate them. This paper empirically examines the joint effect of female ownership and being home-based on owners' managerial performance. We estimate the average treatment effect of female-owned and homebased firms on return on assets (ROA) using the 2007 Survey of Business Owners (SBO) micro data. From the main estimation result, the marginal effects of female ownership and home-based business are both negative. The estimated ROA gains of female ownership and home-based business are about -37.20% and -67.17%, respectively. In contrast, we find that the joint effect of female ownership and home-based business is about 39.53% ROA gain. Our finding suggests that female-owned firms can outperform under the appropriate supporting conditions, such as if they are able to remove travel time and costs by establishing their businesses at home. |
| Keywords: | firm performance, female owners |
| JEL: | L25 L26 J16 |
| Date: | 2020–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp13981&r=all |
| By: | Bandara, KBTUK; Jayasundara, JMSB; Naradda Gamage, Sisira Kumara; Ekanayake, EMS; Rajapackshe, PSK; Abeyrathne, GAKNJ; Prasanna, RPIR |
| Abstract: | Small and Medium Enterprises (SMEs) are renowned as the engine of economic development in both developed and developing regions in the era of economic globalization. However, the existing knowledge in the field outlines numerous factors that hinder SMEs’ growth and survival and lead to business failures in terms of bankruptcy and liquidation. In such a context, Entrepreneurial Marketing (EM) is one of the critical determinants of growth and survival of the SME sector since their marketing approaches do not fit with established traditional marketing theories. Successful SMEs can acquire a competitive advantage on their unique benefit of “smallness,” often under limited resource conditions and uncertain market circumstances. Hence, this paper aims to review the literature on EM and its impact on the performance of SMEs, particularly in developed and developing regions. Accordingly, the review identified a range of EM dimensions that directly affect SME performance in developed and developing regions. The study also identified many other variables have a causal effect on the relationship between EM and SME performance, including external environment, internal venture environment, and venture approach to marketing. Finally, the study provides practical implications for practitioners and theoretical implications for researchers as an array of progressive areas for future endeavors. |
| Keywords: | Entrepreneurial Marketing, Marketing, Small and Medium Enterprises, SME Performance |
| JEL: | M2 M31 |
| Date: | 2020–11–25 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:104341&r=all |
| By: | Adil Outla (UAE - Université Abdelmalek Essaâdi); Koraich Almahdi (UAE - Université Abdelmalek Essaâdi); Moustapha Hamzaoui (UAE - Université Abdelmalek Essaâdi) |
| Abstract: | Drawing on the literature on business dynamics, entrepreneurship and the spatial determinants of firms' creation, this study use Exploratory spatial data analysis and spatial panel data to test the spatial patterns and dynamics of cooperatives growth in Morocco. The results confirm the existence of spatial concentration of cooperatives, a global spatial autocorrelation and local spatial autocorrelation with different spatial typologies. The results also show that the main positive spatial determinants for cooperatives growth are the existence of cooperatives culture, the males' unemployment rate, and the density of population. However, there are also negative spatial determinants on the growth and dynamics of cooperatives. These include coops density, firm's density, male activity, Business turnover, population growth, Higher education, primary education, and urbanization. |
| Keywords: | Co-operatives growth,spatial determinants,spatial distribution,social entrepreneurship |
| Date: | 2020–12–28 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03089872&r=all |
| By: | Chikako Baba; Cristina Batog; Enrique Flores; Borja Gracia; Izabela Karpowicz; Piotr Kopyrski; James Roaf; Anna Shabunina; Rachel Elkan; Xin Cindy Xu |
| Abstract: | Europe’s high pre-existing level of financial development can partly account for the relatively smaller reach of fintech payment and lending activities compared to some other regions. But fintech activity is growing rapidly. Digital payment schemes are expanding within countries, although cross-border and pan-euro area instruments are not yet widespread, notwithstanding important enabling EU level regulation and the establishment of instant payments by the ECB. Automated lending models are developing but remain limited mainly to unsecured consumer lending. While start-ups are pursuing platform-based approaches under minimal regulation, there is a clear trend for fintech companies to acquire balance sheets and, relatedly, banking licenses as they expand. Meanwhile, competition is pushing many traditional banks to adopt fintech instruments, either in-house or by acquisition, thereby causing them to increasingly resemble balanced sheet-based fintech companies. These developments could improve the efficiency and reach of financial intermediation while also adding to profitability pressures for some banks. Although the COVID-19 pandemic could call into question the viability of platform-based lending fintechs funding models given that investors could face much higher delinquencies, it may also offer growth opportunities to those fintechs that are positioned to take advantage of the ongoing structural shift in demand toward virtual finance. |
| Keywords: | Fintech;Peer-to-peer lending;Loans;Financial statements;Crowdfunding;lending,payment system,European Union,Payments Directive,PSD2,WP,Fintech company,direct debit,micro-enterprise lending,individual investor,Big-tech company,crowdfunding firm,due diligence,payment company,value chain,venture capital |
| Date: | 2020–11–13 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2020/241&r=all |
| By: | Joseph I. Uduji (University of Nigeria, Nsukka, Nigeria); Elda N. Okolo-Obasi (University of Nigeria, Nsukka, Nigeria); Simplice A. Asongu (Yaoundé, Cameroon) |
| Abstract: | Purpose – The purpose of this paper is to critically examine the impact of a growth enhancement support scheme (GESS) on youth development in informal farm entrepreneurship in Nigeria. Its special focus is to investigate the impact of the GESS on rural youths’ adoption of new technologies needed to sustainably increase food security in Nigeria. Design/ methodology/ approach – This paper adopts a survey research technique, aimed at gathering information from a representative sample of the population, as it is essentially cross-sectional, describing and interpreting the current situation. A total of 800 rural youths were sampled across the six geopolitical zones of Nigeria. Findings – The result from the use of a bivariate probit model indicate that the GESS has a significant impact on rural youths’ innovations in farming. Practical implication – This suggests that information and communication technology (ICT) could provide new opportunities for making farming more interesting and enterprising for rural young people. Social implication – It implies that while old male and female farmers are less likely to adopt the new farming technologies needed to achieve Nigeria’s agricultural transformation agenda (ATA), a younger generation can help introduce new technologies, whilst also learning from traditional methods. Originality/ value – This research adds to the literature on informal farm entrepreneurship and rural communities’ debate in developing countries. It concludes that engaging youths in GESS should form the foundation of the ATA in Nigeria, which, in turn, would offer adequate combination of new and traditional solutions to address the challenges of food insecurity in sub-Saharan Africa. |
| Keywords: | Youth Development Initiative, Informal Farm Entrepreneurship, Growth Enhancement Support Scheme (GESS), Rural Communities in Nigeria |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:abh:wpaper:20/060&r=all |
| By: | Yannick Fiedler (Centre de recherches internationales) |
| Abstract: | Les mesures qui donnent des moyens d'action aux jeunes agroentrepreneurs devraient être un élément clé d'une stratégie de promotion des investissements axée sur le développement durable. La réalisation même de la sécurité alimentaire des générations futures, la transformation durable des systèmes alimentaires et la lutte contre le chômage et les migrations de détresse dépendent toutes de la mise en œuvre réussie de stratégies qui rendent le secteur agroalimentaire plus attrayant pour les jeunes. Cela nécessite à son tour des réponses politiques intelligentes qui aideront les jeunes investisseurs à surmonter les nombreux obstacles auxquels ils sont confrontés - accès au financement, aux terres, à l'information et aux services techniques, pour ne citer que les plus cruciaux. Depuis 2017, la FAO aide les pays d'Afrique et d'Asie du Sud-Est à identifier les principaux défis auxquels sont confrontés les jeunes entrepreneurs agricoles et les bonnes pratiques grâce à des analyses participatives des capacités et des processus de planification stratégique réalisés avec et pour les jeunes. Ce rapport résume les principales conclusions et leçons tirées du travail de la FAO avec onze pays africains - Afrique du Sud, Côte d'Ivoire, Guinée Conakry, Malawi, Mali, Mauritanie, Mozambique, Namibie, Ouganda, Sénégal et Tunisie. Il identifie les principaux défis et recommandations politiques concernant l'accès des jeunes au financement, à la terre, aux services techniques et à l'information, ainsi que l'engagement des jeunes dans les processus d'élaboration des politiques. Le rapport contient également une série de cinq recommandations politiques clés pour l'autonomisation des jeunes entrepreneurs agricoles. |
| Keywords: | agrifood sector; youth employment; entrepreneurs; support measures; empowerment; investment promotion; Africa |
| Date: | 2021–01–13 |
| URL: | http://d.repec.org/n?u=RePEc:spo:wpmain:info:hdl:2441/2tsjp2j6r282v9l252jsejc3h0&r=all |
| By: | Henri Mahé de Boislandelle (MRM - Montpellier Research in Management - UPVM - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - UM1 - Université Montpellier 1 - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier, Labex Entreprendre - UM - Université de Montpellier); Jean-Marie Estève (MRM - Montpellier Research in Management - UPVM - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - UM1 - Université Montpellier 1 - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier, Labex Entreprendre - UM - Université de Montpellier) |
| Date: | 2019–06–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03010227&r=all |