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on Entrepreneurship |
| By: | Richard Audoly |
| Abstract: | I study the labor market risks associated with being self-employed. I document that the self-employed are subject to larger earnings fluctuations than employees and that they frequently transition into unemployment. Given that the self-employed are not eligible to unemployment insurance, I analyze the provision of benefits targeted at these risks using a calibrated search model with (i) precautionary savings, (ii) work opportunities in paid and self-employment, and (iii) skill heterogeneity. This exercise suggests that extending the current U.S. unemployment insurance scheme to the self-employed comes with a clear increase in the transition rate from self-employment to unemployment and an unequal benefits-to-contributions ratio across skill groups. At the calibrated parameters, the self-employed in the middle of the skill distribution lose welfare. |
| Keywords: | self-employment; unemployment insurance; earnings dynamics |
| JEL: | J40 J64 J65 |
| Date: | 2024–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fednsr:97625&r=ent |
| By: | Khalil Liouane |
| Abstract: | The African continent has witnessed a notable surge in entrepreneurial activity, with the number of startups and investments made in the ecosystem growing significantly in recent years. Against this backdrop, this paper presents an in-depth analysis of the critical key factors influencing funding amounts in African startup deals. A comprehensive analysis of 2, 521 startup investment deals, spanning from January 2019 to March 2023, was conducted using a combination of statistical and several machine learning techniques. The results of this study highlight a significant gender diversity gap, the importance of professional experience, and the impact of founders' academic backgrounds. The study reveals that human capital, a diversified sector approach, and cross-border collaboration strategies are crucial for a robust startup ecosystem. Additionally, we identified the potential positive impact of 'Y combinators' for African startups, the implications of exit strategies on deal amounts, and the heterogeneity as well as the incongruity of investment rounds across the continent. In light of these findings, we propose an assortment of policy recommendations aimed at fostering a propitious milieu for African entrepreneurial ventures, promoting equitable investment distribution, and enhancing cross-border collaboration. By providing a rigorous empirical analysis, this study not only contributes to the existing body of literature but also lays the foundation for future research aimed at promoting investment and catalyzing socio-economic development throughout the African continent. |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2401.05760&r=ent |
| By: | Sharma, Gautam (CIRCLE, Lund University) |
| Abstract: | This study explores makerspaces and fablabs within India's informal innovation context, traditionally associated with grassroots innovators, frugal innovations, and 'jugaad' practices. It introduces a Global South perspective to the largely Global North-dominated discourse on makerspaces and fablabs, highlighting how these spaces function in a unique socio-economic context in India. The research examines the foundational reasons for establishing makerspaces and fablabs in India, their role in fostering innovation networks, and the specific challenges they face, especially in terms of their operations. This paper contrasts with the existing literature, which often focuses on perspectives and experiences from more advanced regions. Using in-depth, semi-structured interviews with 20 respondents, including founders, managers, employees, and users of various makerspaces, the study provides an insightful understanding of the Indian scenario. Findings reveal that these spaces in India primarily support startups and entrepreneurial initiatives, marking a shift from the original maker movement's DIY focus. Efforts to include rural, artisan, and grassroots innovator communities are evident, reflecting a commitment to broader innovation inclusivity. This paper contributes to the understanding of the changing dynamics of makerspaces and fablabs in the context of India's innovation landscape. It emphasizes the need for strategies to ensure equitable access and participation, crucial for the sustainability and growth of these innovation spaces. The insights are valuable for policymakers, educators, and makerspaces practitioners in fostering inclusive innovation ecosystems. |
| Keywords: | makerspaces; fabrication laboratories; fablabs; innovation; informal innovation; India |
| JEL: | O30 O31 O53 |
| Date: | 2024–01–23 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2024_002&r=ent |
| By: | Stamm, Isabell; Sandham, Allan |
| Abstract: | Germany is known for its family-owned businesses that transfer ownership across generations. However, business owners in Germany increasingly envision selling their business beyond the family, which fundamentally changes the institutionalized way private ownership of businesses is transferred. In this paper, we analyze and explain this fundamental change in German family capitalism since the 1990s. Drawing on a sociology of ownership, we view family succession as a transfer regime and show how this regime has been problematized and gradually reframed. Based on analysis of a rich corpus of documents, archival materials, and twenty-seven expert interviews, we show how a new transfer regime - the exit regime - emerges, which coordinates ownership transfer among founders through matchmaking. Our study contributes to research on family capitalism and succession by demonstrating how family capital moves toward the financial sector without becoming financial capital as it loses the family and gains the founder as personalized points of reference. |
| Abstract: | Deutschland ist für seine Familienunternehmen bekannt, die das Eigentum am Unternehmen innerhalb der Familie halten und es familienintern an die nächste Generation übergeben. Allerdings ziehen immer mehr Unternehmenseigentümer in Betracht, ihr Unternehmen an Externe zu verkaufen, wodurch sich die institutionalisierte Form des Eigentumstransfers von Unternehmen stark wandelt. In diesem Discussion Paper analysieren und erläutern wir diesen sich seit den 1990er-Jahren vollziehenden Wandel, der den Familienkapitalismus in Deutschland grundlegend verändert. Wir setzen uns aus der Perspektive einer Soziologie des Eigentums mit familieninterner Nachfolge als spezifischem Transferregime auseinander und zeigen, wie dieses Regime problematisiert und allmählich umgestaltet wurde. Anhand der Analyse einer umfangreichen Sammlung von Dokumenten und Archivmaterialien sowie von 27 Experteninterviews veranschaulichen wir, wie sich ein neues Transferregime - das Exit-Regime - herausbildet, das den Eigentumstransfer zwischen 'Gründern' über moderierte Vermittlung koordiniert. Unsere Studie leistet einen Betrag zur Forschung über Familienkapitalismus und Nachfolge, indem sie verdeutlicht, wie Familienkapital finanzialisiert wird, ohne dabei selbst zu Finanzkapital zu werden, solange die Familie mit dem Gründer als persönlichem Bezugspunkt ersetzt wird. |
| Keywords: | capitalism, family, ownership, regime change, succession, Eigentum, Familie, Kapitalismus, Nachfolge, Regimewandel |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:mpifgd:281201&r=ent |
| By: | Matteo Aquilina; Giulio Cornelli; Marina Sanchez del Villar |
| Abstract: | Can regulation ease problems of asymmetric information for young and innovative firms? The new and largely unregulated cryptocurrency ecosystem offers a unique setting to test this hypothesis. We construct a comprehensive measure of regulatory stringency at the state-month level for the United States and find that more stringent regulation is conducive to more private capital, but only in states with a more developed financial sector. Looking at granular deal-level data we trace the increase in access to capital triggered by a more stringent regulatory environment to a reduction in information asymmetries. Consistently with a reduction in information asymmetry, we find that younger firms with less tangible assets benefit more, and foreign investors, investors that are not specialised in the crypto sector and those with fewer investment professionals invest more capital. |
| Keywords: | corporate finance, venture capital, asymmetric information, cryptocurrency |
| JEL: | D82 G24 G28 O1 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:bis:biswps:1162&r=ent |
| By: | Jacques Bughin; Julien Gosse; Charles Hoffreumon; Nicolas van Zeebroeck |
| Abstract: | Digitalization has changed the way certain firms create and capture value. One channel for this change is through the emergence of business ecosystems. Taking part in these ecosystems requires a certain set of dynamic capabilities, called integrative capabilities. In this article, we use data from a large-scale, cross-industries and cross-continents survey to empirically test whether the presence of such capabilities are associated with faster revenue growth. We conclude that it is the case, providing empirical confirmation to the theory that participation in a business ecosystem helps with the value creation or capture of a firm. |
| Keywords: | Dynamic Capability, Firm Performance, Ecosystems, Strategic Management, Quantitative Research Method |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:ict:wpaper:2013/368094&r=ent |
| By: | Fabio Pieri; Massimiliano Vatiero |
| Abstract: | This paper investigates the role of the market for knowledge in shaping firm hierarchy—that is, the span of control and the number of layers. We predict that, the larger the extent of the market for knowledge, the larger the span of control and the fewer the layers. We test our predictions using a rich database representing industrial firms in Italy during 2005-2018. Our identification strategy is based on existing cross-regional and cross-industry heterogeneity within the extent of the market for business services’ providers and instrumental variables. Results confirm that firms are flatter as the regional market for knowledge expands. |
| Keywords: | firm hierarchy, number of layers, span of control, market for knowledge |
| JEL: | D21 D22 D23 L22 L23 |
| URL: | http://d.repec.org/n?u=RePEc:csl:devewp:482&r=ent |
| By: | Stuck, Jana; Kalevi Dieke, Alex |
| Abstract: | Internationale Vergleichsstudien zeigen, dass Deutschland Nachholbedarf bei der digitalen Transformation der Verwaltung hat. Darüber hinaus steht der öffentlichen Sektor durch Klimawandel, Mobilitäts- und Energiewende vor großen Herausforderungen. GovTech Unternehmen (kurz für Government Technology) bieten innovative, digitale Lösungen an, die den öffentlichen Sektor bei der Bewältigung dieser Herausforderungen unterstützen. Wir haben in einer Anbieteranalyse 170 GovTech Start-ups mit Hauptsitz in Deutschland, 188 GovTech Start-ups aus Großbritannien und 146 französische GovTech Start-ups untersucht. Die Analyse zeigt, dass die deutschen GovTech Start-ups im Durchschnitt jünger sind (5, 3 Jahre) als die britischen (5, 9 Jahre) und französischen Start-ups (6, 1 Jahre). Besonders auffällig ist, dass es in Deutschland deutlich weniger mittlere und große Unternehmen gibt. Lediglich 7 % der deutschen Start-ups haben zwischen 50 und 249 Mitarbeitende, während dies in Großbritannien 21 % und in Frankreich 17 % sind. Zu den Großunternehmen mit mehr als 250 Mitarbeitenden zählt lediglich 0, 06 % der GovTech Start-ups in Deutschland, in Großbritannien sind es hingegen 6 % und in Frankreich 7 %. |
| Abstract: | International comparisons show that Germany is lagging behind in the digital transformation of public administration. In addition, the public sector is facing major challenges that require innovative solutions, such as climate protection and the transformation of mobility and energy. GovTech companies (short for government technology) offer innovative, digital solutions to support the public sector in addressing these challenges. We analyzed 170 GovTech start-ups based in Germany, 188 GovTech start-ups from the UK and 146 French GovTech start-ups. The analysis shows that the German GovTech start-ups are slightly younger on average (5.3 years) than the British (5.9 years) and French start-ups (6.1 years). It is particularly striking that there are significantly fewer medium-sized and large companies in Germany. Only 7% of German start-ups have between 50 and 249 employees, compared to 21% in the UK and 17% in France. Only 0.06% of GovTech start-ups in Germany are large companies with more than 250 employees, compared to 6% in the UK and 7% in France. |
| Keywords: | E-Government, Unternehmensgründung, IKT-Sektor, Öffentliche Verwaltung, Digitalisierung, Deutschland, Großbritannien, Frankreich |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:wikdps:280942&r=ent |