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on Entrepreneurship |
| By: | Boudreaux, Christopher J. (Florida Atlantic University, United States); Elert, Niklas (Research Institute of Industrial Economics (IFN)); Henrekson, Magnus (Research Institute of Industrial Economics (IFN)); Lucas, David S. (Syracuse University, United States) |
| Abstract: | Amidst considerable debate on the relationship between entrepreneurship and economic inequality, scholarship only indirectly addresses how entrepreneurship informs individuals’ relative well-being. We theorize on the nuanced relationship between entrepreneurship and equality of eudaimonic well-being through the lens of New Institutional Economics. Drawing on theories of human flourishing, we suggest that entrepreneurial action is an underappreciated mechanism by which individuals pursue well-being. Equality of well-being is thus influenced by a society’s entrepreneurial accessibility: the freedom of individuals to choose to engage in entrepreneurial action. We present a multilevel framework in which institutional factors enable entrepreneurial action by promoting entrepreneurial accessibility—a factor, that, in turn, affects well-being for individual entrepreneurs as well as societal eudaimonic equality. The ex ante conditions for equality of well-being entail institutions that yield broad entrepreneurial accessibility. Our work highlights the institutional prerequisites for human flourishing in the entrepreneurial society beyond (unequal) economic distributions. |
| Keywords: | Inequality; Entrepreneurship; Well-being; Institutions; Eudaimonia |
| JEL: | D31 D63 I30 L26 O43 |
| Date: | 2021–10–13 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:1410&r= |
| By: | Henrekson, Magnus (Research Institute of Industrial Economics (IFN)); Lakomaa, Erik (Institute for Economic and Business History Research (EHFF)); Sanandaji, Tino (Institute for Economic and Business History Research (EHFF)) |
| Abstract: | Innovation often takes place in entrepreneurial ecosystems. We use the history of the Silicon Valley venture capital model and the Hollywood motion picture industry to illustrate how specialized institutions that regulate these entrepreneurial ecosystems emerged through actions by business entrepreneurs, rather than being designed by policymakers. Schumpeterian entrepreneurs not only create new companies; they also create new institutions as an integral part of the restructuring process. At times, efforts of identifiable entrepreneurs are crucial, while in other instances institutional change results from a Hayekian process of emergence fueled by business entrepreneurs’ efforts. Some institutions remain informal, whereas others become formalized. The greater room to forge institutions through business practices may in part account for the higher rates of entrepreneurship observed in common law countries. |
| Keywords: | Entrepreneurship policy; High-impact entrepreneurship; Innovation; Institutional entrepreneurship; Schumpeterian entrepreneurship |
| JEL: | L26 M13 O31 P14 |
| Date: | 2021–10–12 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:1409&r= |
| By: | Degryse, Hans; Matthews, Kent (Cardiff Business School); Zhao, Tianshu |
| Abstract: | It is well recognized that relationship banking helps to relieve the credit constraints faced by SMEs to access bank finance. Trust is an important part of relationship banking. However, the term trust is nebulous, and relationship banking means different things to different banks and different borrowers. How trust enables the credit market for SMEs through relationship banking is largely unexplored. Using a unique primary dataset of SMEsin the UK, we construct a measure of trust-based relationship banking from the perspective of the borrower. We examine the drivers of trust-based relationship banking in terms of organizational trust in the relationship manager, defined as the delegation of operational autonomy, along with local market and social capital factors, and the style of the bank-borrower relationship. Along with bank, firm, and market factors, trust-based relationship banking helped to reduce the credit constraints faced by SMEs in the decade following the global financial crisis. |
| Keywords: | Trust, Relationship Banking, SME Financing, Bank Organization |
| JEL: | G21 G29 L14 |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:cdf:wpaper:2021/24&r= |
| By: | Zhao, Tianshu; Matthews, Kent (Cardiff Business School); Munday, Max |
| Abstract: | A growing literature addresses the costs and benefits associated with relationship banking, particularly for smaller firms, but with much of this work focused on normal trading conditions. Covid-19 provides an ideal testbed to explore the resilience of relationship banking. We examine whether the presence of closer pre-Covid ties between SMEs and their banks helps in accessing funds in the Covid-19 pandemic period. Then are ties between relationship bankers and SME borrowers a case of ‘true love’ or rather are the parties more akin to ‘fair-weather friends’? Data from the UK SME Finance Monitor from 2018Q2-2020Q3 is used to examine this question. Our analysis suggests that relationship banking was important for the acquisition of bank credit pre-Covid-19 but was of limited influence in post-Covid-19 lending behaviour. Banks treated SMEs that had a good relationship with them in the same way as those that did not and with public interventions to support lenders material in this. |
| Keywords: | Covid-19, Relationship Banking, SMEs |
| JEL: | G21 G28 G40 |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:cdf:wpaper:2021/25&r= |
| By: | Ogembo, Daisy |
| Abstract: | We currently know very little about the taxation of professionals in Africa – scholarly work on this group of taxpayers is scant. The little research that does exist is located within the literature on the taxation of the 'hard-to-tax', a term in tax evasion literature that refers to farmers, small and medium-sized enterprises, and professionals. However, scholarly discourse on the hard-to-tax in low- and middle-income countries, particularly in Africa, has focused primarily on farmers and small and medium-sized enterprises. Professionals are rarely critically considered, despite the acknowledgement in the literature that, considering their potential earnings, the absolute amount involved in evasion by professionals in low- and middle-income countries is probably higher than farmers and small and medium-sized enterprises. This paper begins from the premise that it is sensible to begin to focus more seriously on self-employed professionals in the policy and administrative efforts aimed at increasing tax collection from the informal sector in Africa. Proceeding on that premise, the author provides three lessons that we can learn from a Kenyan case study on taxing self-employed professionals in Africa. |
| Keywords: | Finance, Governance, |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:idq:ictduk:15181&r= |
| By: | Amaeshi, Kenneth; Adi, Bongo; Ikiebey, Godson |
| Abstract: | This study explores how small business owners talk about their tax responsibility, especially in non-enabling institutional contexts. It identifies two main types of tax responsibility discourses amongst these business owners: (1) duty-based and (2) rights-based. The duty-based talks see taxation primarily as the citizens’ responsibility to governments, which should always be fulfilled unconditionally, while rights-based talks see taxation primarily as the government’s responsibility to citizens, which should be fulfilled first, in order for the government to earn the trust of citizens for higher tax compliance. Further analyses reveal that these talks are anchored on four common discursive themes – i.e. socio-economic development, legal, moral, and philanthropic themes, which business owners respond to in different ways. The paper argues that understanding these diverse responses will help tax regulators respond to taxpayers’ attitudes effectively. Summary of ATAP 15 by Kenneth Amaeshi, Bongo Adi and Godson Ikiebey. |
| Keywords: | Finance, Governance, |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:idq:ictduk:14980&r= |
| By: | Maximilian Benner |
| Abstract: | Institutional change in regional economies is affected by macro-level developments such as alignment with the EU and its markets. Countries in Europe’s Eastern and Southern neighborhood provide a case for gradual economic integration into the EU’s economic space. Processes of alignment and mutual market liberalization shape the macro-level conditions for regional development in neighborhood countries but do so in variegated ways as they are translated into the regional institutional context. Building on literature on institutional entrepreneurship, cultural political economy, and actor-network theory, this article argues that EU alignment opens a transnational window of institutional opportunity for agents to shape regional development through translation. In this often contested translation process, institutional entrepreneurs draw on imaginaries, narratives, and visions and shape them. The paper argues that imaginaries are a useful analytical device to understand the interaction between agency and structure in institutional change. The empirical case of tourism in Israel's Southern Negev illustrates the impact of the country's integration into the EU's external aviation policy at the regional tourism sector as well as the strategies of institutional entrepreneurs to use this transnational window of institutional opportunity to promote diverse patterns of institutional change based on multiple imaginaries. |
| Keywords: | institutional change, institutional entrepreneurship, imaginaries, European neighborhood, EU alignment, Israel, tourism |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwpeg:geo-disc-2021_08&r= |
| By: | Uzuntepe, Beren |
| Abstract: | Emerging and gaining significance due to the widespread use of the Internet and the power of social media, crowdfunding, via crowdfunding platforms, provides entrepreneurs with creative business ideas with the opportunity to reach extensive masses and to be able to directly access the financial resources that their projects require. Even though the interest in crowdfunding rises, the literature seems to lack enough research about these platforms. Addressing the platforms that bring together the entrepreneurs and the backers, this research aims to compare the reward-based crowdfunding platforms operating in Turkey with the international crowdfunding platforms. Containing the categories of technology and movie/video, this research discusses the differences between the most prominent crowdfunding platforms in the two countries. The findings of the research constitute importance due to the fact that it shows the way to the entrepreneurs, crowdfunding platforms, and backers while making their decisions, encourages participation in the campaigns, and sheds light on other studies about the subject. |
| Keywords: | Keywords: Crowdfunding, Entrepreneurial Finance, Online Platform, Reward Based Crowdfunding, KIA |
| JEL: | G2 G24 G3 G32 L2 L26 M1 M13 O3 O30 O34 P3 P34 P35 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109966&r= |