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on Entrepreneurship |
| By: | Estrin, Saul (London School of Economics); Khavul, Susanna (San Jose State University); Kritikos, Alexander S. (DIW Berlin); Löher, Jonas (IfM Bonn) |
| Abstract: | Financing entrepreneurship spurs innovation and economic growth. Digital financial platforms that crowdfund equity for entrepreneurs have emerged globally, yet they remain poorly understood. We model equity crowdfunding in terms of the relationship between the number of investors and the amount of money raised per pitch. We examine heterogeneity in the average amount raised per pitch that is associated with differences across three countries and seven platforms. Using a novel dataset of successful fundraising on the most prominent platforms in the UK, Germany, and the USA, we find the underlying relationship between the number of investors and the amount of money raised for entrepreneurs is loglinear, with a coefficient less than one and concave to the origin. We identify significant variation in the average amount invested in each pitch across countries and platforms. Our findings have implications for market actors as well as regulators who set competitive frameworks. |
| Keywords: | equity crowdfunding, soft information, entrepreneurship, finance, financial access and inclusion |
| JEL: | D26 G23 G41 L26 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16679&r=ent |
| By: | Bossavie, Laurent (World Bank); Goerlach, Joseph-Simon (Bocconi University); Özden, Çağlar (World Bank); Wang, He (World Bank) |
| Abstract: | This paper examines international temporary migration as an intermediary step among aspiring entrepreneurs to accumulate the needed capital when they face credit constraints at home. The analysis is based on a representative dataset of lifetime employment histories of return migrants from Bangladesh. After establishing the credit constraints that potential entrepreneurs face, the paper shows that non-agricultural self-employment rates are significantly higher among returning migrants – over half versus around 20% of non-migrants. Most migrants transition into self-employment by using their savings from abroad as the main source of financing. The paper then offers, for the first time, a detailed account of the financial costs and benefits of international migration. Our findings suggest that temporary migration can contribute to structural transformation of lower-income countries by enabling credit-constrained workers to enter into non-agricultural entrepreneurship. |
| Keywords: | temporary migration, credit constraints, risky investment, entrepreneurship |
| JEL: | J61 O15 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16662&r=ent |
| By: | Ninghui Li; Thomas Pihl Gade |
| Abstract: | High emigration rates are a challenge in the Western Balkans. High emigration rates might lead to inadequate skilled labor and affect firm creation, capital formation, and economic convergence. The 2021 North Macedonia census reveals that more than 12.4% of North Macedonians live abroad. To assess the consequences, we estimate the impact of emigration on the number of firms and capital formation. Business dynamics can affect emigration reversely. To alleviate the endogeneity bias, we use a shift-share instrument with the historical diaspora networks and destination countries’ GDP growth rate as a source of exogenous variations. Our results show that (1) In the short run, a 1 percentage point increase in the emigration rate leads to a 2.91% decrease in the number of firms in the area of origin; (2) The long-run effects of emigration on the number of firms are less negative than the short-run impacts; (3) Emigration mainly reduces the number of micro and small firms; (4) Emigration affects the number of firms and capital formation more in the industrial sector than the other sectors, through the skilled labor shortage channel. This paper contributes to the literature on emigration and provides implications and policy considerations for developing countries, where high emigration rates are prevalent. |
| Keywords: | Emigration; Labor market; Firm dynamics; Capital formation; North Macedonia; Panel data. |
| Date: | 2023–12–22 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:2023/268&r=ent |
| By: | Edouard ED Ngamountsika (AUF - Agence Universitaire de la Francophonie); Edouard Ngamountsika (Université Marien Ngouabi) |
| Abstract: | Entrepreneurial incubation is a new word in the Marien Ngouabi University (UMNG) ecosystem. In reality, Congolese culture has a preference for the civil service, due to the influence of the communist years. Talking about business creation means taking stock of the situation. For UMNG, it is necessary to set up an entrepreneurial pre-incubation pole (PPE) environment to support students with projects. Firstly, it will provide workspaces, a permanent team, training and capacity-building in entrepreneurial project support, and assistance in setting up a mentoring system for students. Secondly, it will mobilize administrative teams and teachers on the themes of student entrepreneurship, the organization of selection committees, the reinforcement of training offers on entrepreneurial culture, investment culture and financial inclusion, and finally awareness-raising actions on entrepreneurship. After demonstrating the advantages of the PPE, we will examine how it will become the hub of incubation at UMNG. |
| Abstract: | L'incubation entrepreneuriale est un nouveau mot dans l'écosystème de l'université Marien Ngouabi (UMNG). En réalité, la culture congolaise a une préférence pour le fonctionnariat due à l'influence des années de communisme. Parler de la création d'entreprise consiste à faire un état des lieux sur la question. Pour l'UMNG, il est nécessaire de mettre en place un environnement de pôle de préincubation entrepreneuriale (PPE) pour accompagner les étudiants porteurs de projets. Premièrement, il sera question d'espaces de travail, d'une équipe permanente, d'organiser des formations et en renforcement de capacités sur l'accompagnement des projets entrepreneuriaux, un accompagnement pour la mise en place d'un système de mentorat au profit des étudiants. Deuxièmement, il mobilisera des équipes administratives et des enseignants sur des thématiques de l'entrepreneuriat étudiant ; de l'organisation des comités de sélection, du renforcement des offres de formations sur la culture entrepreneuriale, de la culture d'investissement et d'inclusion financière et enfin des actions de sensibilisation à l'entrepreneuriat. Après avoir montré les avantages du PPE, nous examinerons comment celui deviendra la plate tournante de l'incubation au sein de l'UMNG. |
| Keywords: | incubation entrepreneuriale – fonctionnariat - république du Congo - université Marien Ngouabi- |
| Date: | 2023–10–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04364411&r=ent |
| By: | Chenjian Zhang; Tao Wang (EM - emlyon business school); David Ahlstrom |
| Abstract: | "Existing network research has mainly adopted functional and/or structural approaches to study the instrumental goals behind entrepreneurs' networking as well as the influence of personal position on access to resources and eventual performance. The variety of entrepreneurs' networking styles and their normative underpinnings have not been adequately explored. Contextualized in China, this study asks: How do entrepreneurs' understandings of social norms shape their networking styles? Through an inductive comparison of two entrepreneur generations in China, we identify three networking styles: guanxi-oriented networking, market-based networking, and mixed networking. We theorize that three types of norms shape these styles: market-inferred norms, dyadically formed norms, and identity-induced norms. This study provides new insights into the understanding of Chinese entrepreneurs' distinctive networking styles and their normative underpinnings. Further, it suggests implications both for the wider study of entrepreneurs' networking behaviors in transition economies, and for practitioners wishing to enhance their network building in China." |
| Keywords: | Chinese entrepreneurs, Networking, Norms, Guanxi, Institutional transition |
| Date: | 2022–01–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04325764&r=ent |
| By: | Francisco María Pertierra Cánepa; Ramiro Raúl Cenoz |
| Abstract: | Este trabajo aborda una problemática social concreta que ocurre en la mayoría de las Organizaciones del Tercer Sector de nuestro país, especialmente las que tienen fines asistenciales solidarios para disminuir la pobreza y el hambre, donde la falta de management estratégico con una mirada de planificación integral y de faros largos, les dificulta el desarrollo de sus nobles objetivos con proyección a futuro, es decir bajo el criterio de sostenibilidad. En consecuencia, predomina la frustración, la rutina, la parálisis y la incertidumbre, lo cual requiere un giro copernicano a través de una visión innovadora y mediante la aplicación de instrumentos que les permitan agregar valor. Así, podemos incorporar el uso del fideicomiso en el contexto académico-práctico de la disciplina denominada Social Entrepreneurship. El Social Entrepreneurship se refiere a la aplicación de principios empresariales innovadores para abordar desafíos sociales, creando un impacto positivo en la Sociedad. En este contexto, el fideicomiso, bien diseñado y correctamente aplicado, se presenta como una herramienta transformadora no solo en aspectos financieros, sino con impacto real en el Gobierno Corporativo en las organizaciones, promoviendo la transparencia en la toma de decisiones, la asignación eficiente de recursos y una mejor rendición de cuentas. Todo esto hace a la mejora de los niveles culturales y de desarrollo, fortaleciendo la dignidad del ser humano y disminuyendo la pobreza estructural, con poblaciones objetivo que necesitan independizarse del eterno asistencialismo que los convierte en rehenes, y no les permite ser generadores, a través de sus capacidades, de su propio sostén para alcanzar su autonomía y libertad. La combinación de Social Entrepreneurship y del Fideicomiso para abordar problemas sociales crea un enfoque poderoso y holístico para el desarrollo positivo de las organizaciones del Tercer Sector en Argentina. En consecuencia, el beneficio impacta de lleno en ellas y sus destinatarios, las comunidades vulnerables, pero también en la sociedad toda al darle sostenibilidad a los proyectos con mejoras en lo social, ambiental y económico (EAS), potenciando un círculo virtuoso de eficiencia. |
| Keywords: | Social Entrepreneurship, Fideicomiso, Gobierno Corporativo, Tercer Sector, Recursos, Estrategia, Faros Largos, Planificación, Pobreza, Vulnerables, Innovación y Proyectos. |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:cem:doctra:860&r=ent |
| By: | Bischoff, Thore Sören; Thonipara, Anita |
| Abstract: | Digital transformation determines the long-term viability of SMEs but poses particular challenges for crafts SMEs due to their lack of resources and their individualized products and services. We argue that the unique personality of a crafts owner is a missing link in the literature on the firm-level drivers of digitalization. Using the Big Five personality model, data of 554 crafts SMEs and quantitative methods, our results provide evidence that the personality traits of extraversion and openness are particularly beneficial for overall digitalization in crafts companies. Furthermore, we show that different personality traits are important at different maturity levels of digitalization and that the effect of personality on digitalization is to some extent mediated by the owner's local embeddedness. |
| Keywords: | Digital transformation, Crafts, Personality, Big Five, SMEs |
| JEL: | O31 O32 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifhwps:280973&r=ent |