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on Entrepreneurship |
| By: | Marcus Dejardin (UNamur - Université de Namur [Namur], UCL - Université Catholique de Louvain = Catholic University of Louvain); André van Stel (Trinity College Dublin, KU - Kozminski University) |
| Abstract: | One field of research to which David Storey made important contributions is the alleged impact of enterprise policy on regional economic development. In this field, his legacy to entrepreneurship research is perhaps his constant questioning of whether assumptions underpinning enterprise policy are correct. Possibly the most striking example in this regard relates to the assumption that new firms create new jobs. When questions as fundamental as the contribution of new businesses and SMEs to the creation of value and employment are still not clearly resolved; when they lead to questions about what would a priori be identifiable as the "right" type of entrepreneurship and how to promote it, then also comes a questioning about the "right" type of enterprise policy to pursue. David Storey has nourished this field of research with a significant and sometimes radical scope in his questioning. In this chapter, we outline this specific field of research, highlight David's contributions, and sketch enterprise policy options in the context of global sustainability issues. |
| Keywords: | Entrepreneurship, Small Business, Policy |
| Date: | 2025–03–16 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:halshs-05000926 |
| By: | Jarkko Harju; Toni Juuti; Tuomas Matikka |
| Abstract: | Using full-population data from Finland, we show that individuals at the top of the income distribution are significantly more likely to start new incorporated businesses compared to others. There is no similar selection based on parental income, but more than half of new entrepreneurs have entrepreneurial parents. Individual income gains from entrepreneurship are similar across different background characteristics, but parental entrepreneurship and personal income are positively linked to key firm-level outcomes such as productivity and job creation. This highlights the importance of the intergenerational transmission of entrepreneurial skills and suggests that businesses established by high-income individuals generate largest positive spillovers. |
| JEL: | L26 J24 J3 |
| Date: | 2024–08–29 |
| URL: | https://d.repec.org/n?u=RePEc:pst:wpaper:346 |
| By: | Johannes Fuchs; Paul P. Momtaz |
| Abstract: | After initial coin offerings (ICOs), decentralized digital platforms (DDPs) decide whether to go public or remain private. We explore the implications of the public-versus-private decision for the growth and decentralization of DDPs. Employing a difference-in-differences framework, we find that public DDPs scale faster post-listing relative to matched private DDPs. An important driver behind public DDPs’ superior growth is a spillover effect of financial speculation on fundamental platform activity, especially when DDPs are undervalued, hastening network effects. The going-public decision also facilitates DDP decentralization, although this stems mostly from the left tail of the token ownership distribution, while blockholders largely remain in control. Exploring the trade-off between going public through token exchange listings and remaining private with the help of institutional investors, we find that crypto fund-endorsed token listings yield more platform growth than unendorsed listings, while crypto fund backings without listings create the least value. Overall, our study suggests that early-stage startups may economically benefit from tokenization and creating liquid markets for venture tokens. |
| Keywords: | entrepreneurial finance, decentralized platforms, tokenization, blockchain technology |
| JEL: | G24 G32 K22 L26 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11760 |
| By: | Adrien Deschamps (AU - Avignon Université, •JPEG - Laboratoire des sciences Juridiques, Politique, Economiques et de Gestion - AU - Avignon Université) |
| Abstract: | Public procurement can be defined as the process by which public contracting authorities purchase goods, services, and works from private suppliers, including small and medium enterprises (SMEs). The access of SMEs to public contracts is one of the objectives of public procurement policies, as they suffer from complex procedures and high transaction costs. At the same time, public procurement is increasingly being used as an instrument for environmental policies, through green clauses (i.e. mandatory specifications in the contract performance) and award criteria (i.e. the dimensions of the offers the contracting authority assesses). The objective of this empirical work is to determine whether environmental clauses and criteria have an impact on SME participation in award procedures. This paper assesses for the first time the compatibility between SME accessibility and environmental issues in public procurement with a dataset encompassing approximately 10, 000 award procedures in France between 2022 and 2023. The findings indicate that green public procurement stimulates SME participation. The intensity of this effect may vary between environmental clauses and criteria across sectors, but there is no evidence of a deterrent effect of green public procurement on SMEs. |
| Keywords: | Green Public Procurement Sustainable Development SME Participation Public Procurement Sustainable Public Procurement D22, Green Public Procurement, Sustainable Development, SME, Participation, Public Procurement |
| Date: | 2025–03–25 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04999776 |
| By: | Aleksander S. Kritikos; Mika Maliranta; Veera Nippala; Satu Nurmi |
| Abstract: | We examine how the gender of business-owners is related to the wages paid to female relative to male employees working in their firms. Using Finnish register data and employing firm fixed effects, we find that the gender pay gap is – starting from a gender pay gap of 11 to 12 percent – two to three percentage-points lower for hourly wages in female-owned firms than in male-owned firms. Results are robust to how the wage is measured, as well as to various further robustness checks. More importantly, we find substantial differences between industries. While, for instance, in the manufacturing sector, the gender of the owner plays no role for the gender pay gap, in several service sector industries, like ICT or business services, no or a negligible gender pay gap can be found, but only when firms are led by female business owners. Businesses in male ownership maintain a gender pay gap of around 10 percent also in the latter industries. With increasing firm size, the influence of the gender of the owner, however, fades. In large firms, it seems that others – firm managers – determine wages and no differences in the pay gap are observed between male- and female-owned firms. |
| Keywords: | entrepreneurship, gender pay gap, discrimination, linked employer-employee data |
| JEL: | J16 J24 J31 J71 L26 M13 |
| Date: | 2024–04–19 |
| URL: | https://d.repec.org/n?u=RePEc:pst:wpaper:343 |
| By: | Sophia Friedson-Ridenour; Kinfe Edey |
| Keywords: | Gender-Gender and Economics Information and Communication Technologies-Digital Divide |
| Date: | 2023–03 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wboper:39510 |
| By: | Jésus Fernández-Villaverde; Yang Yu; Francesco Zanetti; Jesús Fernández-Villaverde |
| Abstract: | Defensive hiring of researchers by incumbent firms with monopsony power reduces creative destruction. This mechanism helps explain the simultaneous rise in R&D spending and decline in TFP growth in the US economy over recent decades. We develop a simple model highlighting the critical role of the inelastic supply of research labor in enabling this effect. Empirical evidence confirms that the research labor supply in the US is indeed inelastic and supports other model predictions: incumbent R&D spending is negatively correlated with creative destruction and sectoral TFP growth while extending incumbents’ lifespan. All these effects are amplified when ideas are harder to find. An extended version of the model quantifies these mechanisms’ implications for productivity, innovation, and policy. |
| Keywords: | productivity growth, innovation, R&D, patents, creative destruction |
| JEL: | E22 L11 O31 O33 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11753 |
| By: | Arnita Rishanty (Bank Indonesia); M. Cahyaningtyas (Bank Indonesia); Rudy Marhastari (Bank Indonesia); Rizki Fitrama (Bank Indonesia); Retno Puspita K. Wicaksono (Bank Indonesia); Rivky Rasyid (Bank Indonesia) |
| Abstract: | This study is to identify the benefits of Micro, Small, and Medium Enterprises (MSME) participation in the industry supply chains and to analyze the commitments, enablers, and obstacles that shape MSME involvement in the supply chains of medium and large industries. The integration of MSME into the manufacturing industry supply chain is crucial for advancing economic development and fostering sustainable growth. Currently, the proportion of MSME that have entered supply chains remains low, indicating significant potential for increasing MSME contributions to the manufacturing sector. Building on the results of the mixed method approach comprising Propensity Score Matching (PSM) and Partial Least SquaresStructural Equation Modeling (PLS-SEM) analysis, and case study analysis of two high-value-added sectors (identified through input-output table analysis), rubber and automotive sectors, this study has identified the significance of MSME participation in supply chains, as well as the factors influencing MSME performance. This study suggests that supply chain financing (SCF) plays a critical role in ensuring the commitment of MSME to be part of the industrial supply chains, which in turn positively and significantly affects MSME performance. Supply chain commitment is also suggested to mediate the relationship between SCF and MSME performance. Further, the study identifies challenges faced by MSME and delivers policy recommendations for regulators in supporting MSME |
| Keywords: | Sustainable Growth, MSME, Supply Chain |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:idn:wpaper:wp052024 |
| By: | Ferri, Valentina; Gallo, Giovanni; Scicchitano, Sergio |
| Abstract: | The COVID-19 pandemic triggered widespread economic disruptions, raising concerns about surging bankruptcy rates globally. Italy, one of the hardest-hit countries, faced significant risks of business insolvency. This paper empirically investigates the short-term impact of government interventions on bankruptcy rates in Italy during the initial phase of the pandemic. Using a national dataset of Italian firms and employing interrupted-time-series analysis, we find that bankruptcy rates declined significantly following the introduction of extensive economic support measures, including loan moratoria, guaranteed credit schemes, and direct grants. Our results suggest that these interventions mitigated liquidity constraints and prevented the immediate insolvency of firms, averting a sharp rise in bankruptcies despite severe economic contractions. However, we also highlight potential concerns regarding the postponement of insolvencies, contributing to the "zombification" of non-viable firms. The findings provide critical insights for policymakers regarding the balance between short-term economic stabilization and long-term market efficiency in crisis management. |
| Keywords: | Bankruptcy, COVID-19, Government interventions, Interrupted-time-series |
| JEL: | E65 G33 H12 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:glodps:1601 |
| By: | Fietz, Katharina; Lakemann, Tabea; Beber, Bernd; Priebe, Jan; Lay, Jann |
| Abstract: | Informal, low-quality employment in micro, small, and medium enterprises (MSMEs) remains a significant challenge in low- and middle-income countries. We present evidence from an impact evaluation of a light-touch business consulting program with a focus on employment formalization in Côte d'Ivoire. Using a randomized controlled trial with 448 MSMEs and a unique employer-employee dataset, we find that the intervention led to employment formalization, driven by greater reported minimum wage compliance and an increase in written contract provision. We show suggestive evidence that these improvements were driven by selective formalization and increased awareness of regulation. The intervention's financial implications were moderate, with findings indicating that firms partially formalized previously informal payment streams, without a significant increase in total labor costs. |
| Abstract: | Informelle, niedrigqualitative Beschäftigung in Mikro-, kleinen und mittleren Unternehmen (MSMEs) bleibt eine bedeutende Herausforderung in Ländern mit niedrigem und mittlerem Einkommen. Wir zeigen Evidenz aus einer Wirkungsevaluierung eines niedrigschwelligen Unternehmensberatungsprogramms mit Fokus auf die Formalisierung von Beschäftigung in Côte d'Ivoire. Mithilfe einer randomisierten kontrollierten Studie mit 448 MSMEs und einem innovativen Arbeitgeber-Arbeitnehmer-Datensatz stellen wir fest, dass die Intervention zur Formalisierung von Beschäftigung führte, angetrieben durch eine stärkere Einhaltung des Mindestlohns und eine Zunahme der Bereitstellung schriftlicher Verträge. Hinweise deuten darauf hin, dass diese Verbesserungen durch selektive Formalisierung und ein erhöhtes Bewusstsein für Regulierung bedingt waren. Die finanziellen Auswirkungen der Intervention waren moderat. Die Ergebnisse legen nahe, dass Unternehmen zuvor informelle Zahlungsströme teilweise formalisierten, ohne dass es zu einem signifikanten Anstieg der Gesamtarbeitskosten kam. |
| Keywords: | Employment formalization, business consulting, micro, small and medium enterprises(MSMEs), randomized controlled trial (RCT), Côte d'Ivoire |
| JEL: | O12 O17 J46 J81 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:rwirep:315486 |
| By: | Yoga Affandi (Bank Indonesia); MHA Ridhwan (Bank Indonesia); Cahya Mega Panji Santosa (Bank Indonesia) |
| Abstract: | This study examines the factors driving digital adoption among ultra-micro, micro, and small enterprises (UMSEs) in Indonesia, using data from a survey of 10, 142 UMSEs across 34 provinces. A comprehensive Digital Adoption Index was developed to assess adoption levels and their regional variations, focusing on key business processes, including e-procurement, POS systems, e-marketing, e-commerce, and digital payments. Results indicate that digital adoption is significantly influenced by owner demographics, firm characteristics, business environment, infrastructure quality, and cultural factors, contributing to disparities in adoption across regions. The findings suggest that digital adoption positively impacts UMSEs’ business performance, business innovation, financial literacy and financial inclusion, highlighting the potential for digital tools to enhance financial knowledge and access within this sector. This research provides actionable insights for policy development aimed at supporting digital transformation among UMSEs, particularly in areas with low adoption levels. |
| Keywords: | Digital Adoption, Ultra-Micro, Micro and Small Enterprises, Business Performance, Business Innovation, Financial Literacy, Financial Inclusion |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:idn:wpaper:wp122024 |
| By: | Rim Bahroun; Nadine Levratto; Mounir Amdaoud |
| Abstract: | Integrated into public policies aimed at fostering entrepreneurship, thePÉPITE plan (Student Hubs for Innovation, Transfer, and Entrepreneurship) plays a keyrole in promoting an entrepreneurial culture in higher education. Through the NationalStudent-Entrepreneur Status (SNEE), it provides tailored support for business creation.However, existing data reveal significant disparities among different PÉPITE hubs interms of trajectories and impact.This study seeks to document this heterogeneity througha semantic analysis of the documents produced by PÉPITE, from the competition phaseto reporting, using the SpaCy natural language processing model. Our findings highlighta strong homogeneity in the content of reports, reflecting a high degree of alignmentwith institutional expectations. However, they also suggest that greater consideration oflocal specificities and increased flexibility could enhance the program’s effectiveness andstrengthen its impact on student entrepreneurial engagement. |
| Keywords: | Student entrepreneurship, PÉPITE, Semantic analysis, Natural language processing |
| JEL: | I23 M13 O32 J24 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:drm:wpaper:2025-20 |