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on Entrepreneurship |
| By: | Anna Kusetogullari; Huseyin Kusetogullari; Martin Andersson; Tony Gorschek |
| Abstract: | Generative Artificial Intelligence (GenAI) and Large Language Models (LLMs) are recognized to have significant effects on industry and business dynamics, not least because of their impact on the preconditions for entrepreneurship. There is still a lack of knowledge of GenAI as a theme in entrepreneurship research. This paper presents a systematic literature review aimed at identifying and analyzing the evolving landscape of research on the effects of GenAI on entrepreneurship. We analyze 83 peer-reviewed articles obtained from leading academic databases: Web of Science and Scopus. Using natural language processing and unsupervised machine learning techniques with TF-IDF vectorization, Principal Component Analysis (PCA), and hierarchical clustering, five major thematic clusters are identified: (1) Digital Transformation and Behavioral Models, (2) GenAI-Enhanced Education and Learning Systems, (3) Sustainable Innovation and Strategic AI Impact, (4) Business Models and Market Trends, and (5) Data-Driven Technological Trends in Entrepreneurship. Based on the review, we discuss future research directions, gaps in the current literature, as well as ethical concerns raised in the literature. We highlight the need for more macro-level research on GenAI and LLMs as external enablers for entrepreneurship and for research on effective regulatory frameworks that facilitate business experimentation, innovation, and further technology development. |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2505.05523 |
| By: | Philippe Aghion; Antonin Bergeaud; Mathias Dewatripont; Johannes Matt |
| Abstract: | We develop a model of endogenous growth and firm dynamics with soft budget constraints, where firms differ in their innovation speed and slower firms need additional financing in order to eventually innovate. As creditors cannot anticipate refinancing needs in advance nor credibly commit to withholding future refinancing, a Soft Budget Constraint Syndrome emerges, causing excessive entry by slow firms and crowding out potentially more efficient innovators. The resulting trade-off between the positive effects of budget constraint softening on innovation by incumbents and slow-type entrants and its negative effects on entry by fast innovators, generates a hump-shaped relationship between refinancing costs and aggregate growth. Calibrating the model to French firm-level data, we show that the budget constraint softening associated with the decline in interest rates in the aftermath of the Global Financial Crisis accounts for 54% of the observed drop in the aggregate growth rates post-crisis. Although the softening in budget constraints has had a positive effect on incumbent innovation, this was more than offset by the resulting decrease in the entry rates of good firms (by 61% relative to the pre-crisis steady state). |
| Keywords: | firm dynamics, credit growth, soft budget constraint |
| Date: | 2025–04–10 |
| URL: | https://d.repec.org/n?u=RePEc:cep:cepdps:dp2091 |
| By: | Giuseppe Berlingieri; Maarten De Ridder; Danial Lashkari; Davide Rigo |
| Abstract: | In theories of creative destruction, product innovation is a key driver of aggregate growth. In this paper, we confront the predictions of these theories about product dynamics with empirical patterns in product-level data on the near-universe of French manufacturing firms. We find that the process of product innovation frequently exhibits bursts-episodes in which firms rapidly add multiple products to their portfolio. Such bursts lead to substantial shifts in revenue and explain the majority of the variance in firm-level growth. We introduce a model of firm product innovation compatible with such a process that also nests the canonical models of creative destruction. We show that innovation bursts alter the equilibrium composition of age, size, and innovation efficiency of firms, and further explain the concentration of production among superstar firms. Our model thus enables the joint study of the determinants of industry concentration and growth in a setting consistent with the empirical patterns of product dynamics. |
| Keywords: | productivity, endogenous growth, firms, innovation |
| Date: | 2025–04–29 |
| URL: | https://d.repec.org/n?u=RePEc:cep:cepdps:dp2095 |
| By: | Marc Garcia-Ruiz (Faculty of Economics and Business, Universitat de Barcelona, Spain.) |
| Abstract: | In recent decades, decentralization has become a prominent topic in both academic and political discussions, with research increasingly focusing on its implications for economic development. This paper explores a specific facet of this debate by examining how decentralization influences business creation and the survival of new enterprises at the local level. By leveraging a panel dataset covering regions across multiple countries, we assess whether decentralization promotes entrepreneurship and sustains new businesses, particularly through the mediating role of institutional quality. Our findings suggest that while decentralization encourages business creation, it may reduce short-term firm survival rates. Additionally, strong institutional quality seems to amplify decentralization's positive effect on entrepreneurship and mitigate its adverse impact on the survival rate. |
| Keywords: | Local Economies; Decentralization; Entrepreneurship. JEL classification: L26, O43, O52, R11. |
| Date: | 2024–02 |
| URL: | https://d.repec.org/n?u=RePEc:ira:wpaper:202413 |
| By: | Compano Ramon (European Commission - JRC) |
| Abstract: | This report provides an analysis of the current financial and techno-economic landscape in Europe, with a specific focus on the role of public organizations investing in innovative companies. While theprimary focus is on equity-based instruments, the report addresses the interplay between equityfinancing and complementary financial instruments, as well as factual challenges to put them intopractice. It contributes to the understanding of Europeâs complex funding landscape, particularlyfrom the angle of public funding bodies. It examines the mandate and activities of governmentalventure capital organizations within the broader venture capital ecosystem. Drawing on empiricalevidence, the report highlights key challenges faced by Governmental Venture Capital (GovVC)initiatives and explores potential avenues for improvement. The report is sustained by the outcomesof a workshop held in Seville that brought together experts and practitioners who share experiencesand best practices on government-backed initiatives. |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc140763 |
| By: | Matthieu Garcia-Mesa (LEST - Laboratoire d'Economie et de Sociologie du Travail - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Representing nearly 15 billion euros, continuing vocational training (CVT) is a special area of analysis that has developed at the intersection of economics, education and labour economics (Voisin, 2017). The field of CVT, protean and multidimensional, in that the players operating within it are subject to multiple and sometimes contradictory logics (Jaffré, 2017). This is reinforced by the very large number of individual entrepreneur-type players operating in the field. Individual CVT entrepreneurs are key players, and the literature does not seem to take sufficient account of them. However, to understand the field of CVT, we also need to understand how the vast majority of the players in it operate, first and foremost individual contractors. |
| Keywords: | Vocational training, Individual contractors |
| Date: | 2024–06–30 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05036211 |
| By: | Fouad Annaki (USMBA - Université Sidi Mohamed Ben Abdellah [Fès], FLDM - Faculté des Lettres et des Sciences Humaines, Dhar El Mahraz, Fès); Aaraj Khaoula El (Université Hassan 1er [Settat], LRMD FEG Settat - Laboratoire de Recherche en Management et Développement - Faculté des Sciences Economiques et de Gestion); Saadeddine Igamane (USMBA - Université Sidi Mohamed Ben Abdellah [Fès], Faculté des Lettres et Sciences humaines; FLSH Saïs, Fès, Maroc) |
| Abstract: | Why do some entrepreneurs do better than others? To respond to this question several attempts to identify and evaluate the factors influencing this and have generally focused either on the entrepreneur, namely: the features of personality, human capital, motivation and social skills ..., i.e. external factors such as accompanying structures, environmental context and social capital. In this regard, entrepreneurship research has indicated that social benefits of entrepreneurs influence the development of their social capital and their success entrepreneurship. Our work is aimed at complementing previous research on skills. social and social capital in the field of entrepreneurship, answering the question the extent to which the entrepreneur's social skills contribute to the developing its social capital and entrepreneurial success? This study is seeking to prove that the entrepreneur's social skills are a key element in exploiting favourable social capital and thus increase its chances of entrepreneurial success. |
| Abstract: | Pourquoi certains entrepreneurs réussissent-ils mieux que d'autres ? Pour répondre à cette question plusieurs tentatives d'identifier et d'évaluer les facteurs influençant cette réussite et se sont généralement concentrées soit sur l'entrepreneur à savoir : les traits de personnalité, le capital humain, la motivation et les compétences sociales …, soit sur des facteurs externes tel que les structures d'accompagnement, contexte environnemental et le capital social. A cet égard les recherches en entrepreneuriat ont indiqué que les compétences sociales des entrepreneurs influencent le développement de leur capital social et leur réussite entrepreneuriale. Notre travail a pour objectif de compléter les recherches antérieures sur les compétences sociales et le capital social dans le domaine de l'entrepreneuriat, en répondant à la question suivante : dans quel mesure les compétences sociales de l'entrepreneur contribuent-elles au développement de son capital social et à sa réussite entrepreneuriale ? Cette étude cherche à prouver que les compétences sociales de l'entrepreneur sont un élément clé pour exploiter un capital social favorable et ainsi augmenter ses chances de réussite entrepreneuriale. |
| Keywords: | Social capital social skills entrepreneurial success JEL Classification : Z130 L260 M130. Paper type: Theoretical Research, Social capital, social skills, entrepreneurial success JEL Classification : Z130, L260, M130. Paper type: Theoretical Research, Le capital social les compétences sociales la réussite entrepreneuriale Social capital social skills entrepreneurial success JEL Classification : Z130 L260 M130, Le capital social, les compétences sociales, la réussite entrepreneuriale Social capital, M130 |
| Date: | 2024–03 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05062283 |
| By: | Jonathan Labb\'e (CEREFIGE, IAE Nancy, UL); Typhaine Leb\`egue (VALLOREM, UT); Abdel Malik Ola (VALLOREM, UT) |
| Abstract: | This research examines the empowerment of women entrepreneurs in the context of entrepreneurial financing in France. It explores the factors that allow some women entrepreneurs to access certain categories of external finance more easily. The theoretical framework used is based on the concept of empowerment, explored through its personal and relational dimensions. The study relies on a quantitative approach, using data from a representative of women entrepreneurs. The results show that the status of a founder affects access to external finance in different ways: it increases the chances of successful fundraising, but reduces the chances of obtaining bank finance. This finding highlights the importance of empowerment dynamics, which vary according to the type of financing. In addition, characteristics such as the presence of a spouse in the business, high income, membership of a professional network and the diversity of this network complete the analysis of inequalities in access. This study, the first of its kind in France, suggests ways of enriching our understanding of the diversity of situations experienced by female founders, thus helping to deconstruct the homogeneous image of women's entrepreneurship. |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2505.10064 |
| By: | Yukiko YOSHIDA; Yuji HONJO |
| Abstract: | This study clarifies the factors that influence an individual’s entrepreneurial intention in Japan, the United Kingdom (UK), and the Republic of Korea (Korea). Until now, which factors influence entrepreneurial intention have been debated because entrepreneurial intention, in addition to entrepreneurship, is essential for economic growth. However, there is room for further research as to whether such factors are common or unique to Japan. We conduct a questionnaire survey in Japan, the UK, and Korea to elucidate Japan-specific factors of entrepreneurial intention. We find some common factors in Japan, the UK, and Korea, despite Japan-specific factors. For example, entrepreneurial intention is high for individuals who have experience with or interest in side businesses, experience working with or investing in start-up firms, and experience in filing patents. Moreover, while having a family living in the same household increases entrepreneurial intention in the UK and Korea, this relationship is not found in Japan. Furthermore, based on the framework developed by Yoshida and Honjo (2023), we conduct a comparison study of entrepreneurial intention using job change intention as a benchmark. As a result, we find that job change intention is higher than entrepreneurial intention in Japan, entrepreneurial intention is higher than job change intention in the UK, and entrepreneurial and job change intentions tend to be similar in Korea. In the UK and Korea, entrepreneurship and job change are similarly positioned, while in Japan, entrepreneurship and job change are positioned differently. Overall, entrepreneurial intention is lower in Japan than in the other countries, suggesting that factors unique to Japan are behind this low entrepreneurial intention. |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:eti:rdpsjp:25012 |