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on Entrepreneurship |
| By: | Werner, Sven; Sievert, Maximiliane; Haney, Aoife Brophy; Trotter, Philipp |
| Abstract: | Start-ups are an important component of driving context-sensitive sustainable development in emerging markets based on domestic innovation. However, knowledge on how best to support the capabilities, networks and access to finance of such ventures is limited, specifically in emerging markets. In this paper, we leverage novel data from a pan-African start-up accelerator to understand whether and why accelerators are effective. Adopting an entrepreneurial ecosystem lens and conceptualizing accelerators as intermediaries within ecosystems, we test two competing views of accelerator effectiveness: substitution and complementarity. Our results provide support for a complementarity view, where the positive effects of accelerators are higher in more mature ecosystems. We contribute to the literature by drawing attention to the importance of the context within which accelerators are situated, challenging the predominant approach of substituting for missing ecosystem components in emerging markets. |
| Abstract: | Start-ups gelten als wichtiger Motor für eine kontextsensitive und nachhaltige Entwicklung in Ländern mit niedrigen und mittleren Einkommen, insbesondere wenn sie auf lokalen Innovationen beruht. Dennoch ist bislang nur begrenzt bekannt, wie sich die Fähigkeiten, Netzwerke und der Zugang zu Finanzmitteln dieser Unternehmen effektiv fördern lassen - insbesondere im Kontext von Ländern mit niedrigen und mittleren Einkommen. In diesem Beitrag nutzen wir neuartige Daten eines panafrikanischen Start-up-Accelerators, um zu untersuchen, ob und warum Accelerator-Programme wirksam sind. Aufbauend auf der Perspektive unternehmerischer Ökosysteme und der Konzeption von Accelerators als Intermediäre innerhalb dieser Ökosysteme testen wir zwei konkurrierende Erklärungsansätze für ihre Wirksamkeit: Substitution und Komplementarität. Unsere Ergebnisse stützen die Komplementaritätsperspektive, wonach die positiven Effekte von Accelerators in reiferen Ökosystemen stärker ausgeprägt sind. Damit leisten wir einen Beitrag zur Literatur, indem wir die Bedeutung des institutionellen und ökosystemischen Kontexts, in den Accelerators eingebettet sind, hervorheben. Wir hinterfragen den verbreiteten Ansatz, fehlende Ökosystemkomponenten in Schwellenländern durch isolierte Fördermaßnahmen ersetzen zu wollen. |
| Keywords: | Accelerator, start-up, entrepreneurial ecosystem, entrepreneurship support, impact assessment |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:rwirep:339617 |
| By: | Balazs Egert |
| Abstract: | This paper reviews the contributions of the 2025 Nobel Prize in Economics laureates, Joel Mokyr, Philippe Aghion and Peter Howitt, to our understanding of innovation-driven economic growth, situating their work within the broader evolution of modern growth theory and empirical evidence. It highlights why the Industrial Revolution marked a transition to sustained, self-reinforcing technological progress and shows how Mokyr's emphasis on knowledge, culture and institutions complements Aghion and Howitt's Schumpeterian framework, which formalises innovation as a competitive process of firm entry, exit and technological replacement. The paper then uses these frameworks to interpret the widespread productivity slowdown observed in advanced OECD economies since the mid-2000s, arguing that weakened creative destruction, slower diffusion of frontier technologies, declining business dynamism and policy headwinds are key explanatory factors. |
| Keywords: | innovation, productivity, economic growth, creative destruction, institutions |
| JEL: | O30 O40 O43 L16 N10 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12572 |
| By: | Hege, Ulrich; Baranes, Edmond; Kim, Jin-Hyuk |
| Abstract: | We present a stylized model of three entrepreneurial financing methods based on two tradeoffs. First, token financing and crowdfunding reveal consumer-investors’ demand for the product prior to investment, but upfront purchase weakens the entrepreneur’s incentive to deliver. Second, token financing permits a bubble component in token value, but reduces consumer surplus because tokens are stored rather than consumed. We characterize the conditions under which entrepreneurs prefer each financing method. We show that token financing can fund socially efficient projects that cannot be funded through equity or crowdfunding, but leads to suboptimal consumption. Finally, we propose an implementable hurdle condition for regulators. |
| Keywords: | crowdfunding, entrepreneurial financing, initial coin offering, token regulation, ; utility token |
| JEL: | G32 G38 L26 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:tse:wpaper:131654 |
| By: | Lucille Collet; Jean-Baptiste Gossé; Frédéric Guével; Camille Jehle |
| Abstract: | Europe’s venture capital market is growing but remains much smaller than in the United States, holding back innovation. The gap is partly due to a lack of appetite among private European investors. A more integrated ecosystem, pan-European funds and measures to facilitate institutional investors’ access to venture capital are all key to boosting start-up financing. <p> Le capital-risque progresse en Europe mais reste très en deçà du modèle américain, ce qui constitue un frein à l’innovation. Ce retard tient à une faible mobilisation des investisseurs privés européens. Un écosystème plus intégré, des fonds paneuropéens et des mesures facilitant l’accès des investisseurs institutionnels au capital-risque sont clés pour renforcer le financement des start-up. |
| Date: | 2026–02–18 |
| URL: | https://d.repec.org/n?u=RePEc:bfr:econot:435 |
| By: | Erol Taymaz (Department of Economics, Middle East Technical University, Ankara, Turkey); Kamil Yılmaz (Department of Economics, Koç University, İstanbul, Turkiye) |
| Abstract: | This paper investigates the relationship between workforce age composition, prior experience, and firm survival using matched employer–employee data from Turkey spanning 2007 to 2023. Using the universe of Turkish firms from the Entrepreneur Information System (EIS), we estimate discrete-time hazard models on manufacturing corporations and document three main findings. First, the relationship between average employee age and exit risk is non-linear but not smoothly quadratic: exit hazards are significantly elevated only for firms with very young (15–20) or older (45+) workforces, while the 25–40 age range shows no meaningful differences. This challenges the standard inverted-U specification commonly adopted in the literature. Second, this age effect is entirely confined to micro-firms (1–10 employees); for larger firms, capital intensity, export status, and supply-chain linkages dominate survival prospects. Third, prior employment experience of the workforce—measured through sector-specific experience, former employer characteristics, and employment network concentration—significantly predicts survival, especially for smaller firms. The influence of both age and experience variables fades as firms age, consistent with the gradual replacement of entry conditions by accumulated organizational capital. Our results highlight the size-dependent nature of human capital’s role in firm survival and carry implications for policies aimed at supporting new-firm longevity in developing economies. |
| Keywords: | firm survival, startups, employee experience, employee age, human capital, matched employer-employee data |
| JEL: | L11 L26 L60 M13 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:met:wpaper:2601 |
| By: | Wiatt, Renee D. |
| Abstract: | Rural small businesses have been and continue to be the backbone of their local community. Rural small businesses consist of more than simply farms that we often associate with rural. Rural small businesses deliver more than just goods and services to their community; they serve as a gathering place, a social hub, and support for the rural residents that they serve. Thus, when a rural small business closes instead of passing to the next generation, the community loses more than just a business. They lose a local partner, a community gathering spot, and the goods, services, and jobs that they provide. This article takes an introductory look into the exit intentions, succession plans, and what is needed to bring in the next generation. |
| Keywords: | Agribusiness, Community/Rural/Urban Development |
| Date: | 2026–03–29 |
| URL: | https://d.repec.org/n?u=RePEc:ags:ncrcrd:396377 |
| By: | Drydakis, Nick (Anglia Ruskin University) |
| Abstract: | This study examines whether AI Capital, defined as AI-related knowledge, skills and capabilities, is associated with business innovation among SMEs in England. Using a two-wave longitudinal panel dataset comprising 504 observations from SMEs collected in 2024 and 2025, the study develops and validates a 45-item AI Capital of Business scale. Business innovation is measured across five dimensions: product and service innovation, process innovation, technology adoption, market and customer engagement, and organisational culture and strategy. Regression models, including pooled OLS, Random Effects, and Fixed Effects specifications, are employed. The findings reveal a robust positive association between AI Capital and business innovation across all model specifications. This association holds across all business innovation dimensions and remains consistent for SMEs with differing levels of financial performance, size, and operational maturity. Each component of AI Capital independently exhibits a positive association with business innovation outcomes. |
| Keywords: | artificial intelligence, artificial intelligence capital, business innovation, innovation, SMEs |
| JEL: | O31 O33 O32 L26 L25 M15 D83 J24 O14 O39 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18476 |
| By: | Alejandro Bello-Pintado (Universidad Pública de Navarra); Carlos Bianchi (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economía); Sofía Maio (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economía) |
| Abstract: | This study examines how innovation modes, STI (Science and Technology-based Innovation), DUI (Innovation based on learning-by-Doing, learning-by-Using, learning by-Interacting) and their combination, shape firms’ use of formal and informal intellectual property protection mechanisms (IPPM) and influence product innovation performance. Using panel data from the National Innovation Activities Survey (2010 2021) of Uruguay, results show that STI drives formal IPPM and enhances innovation likelihood and novelty, while DUI fosters informal IPPM with limited impact on innovation outcomes. However, combined STI-DUI strategies generate coordination tensions, constraining innovation performance |
| Keywords: | innovation modes, knowledge appropriability strategies, firm organization |
| JEL: | O31 O32 O54 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:ulr:wpaper:dt-02-26 |
| By: | Koloma, Yaya |
| Abstract: | This study explores whether gender disparities exist in credit access among business owners in Côte d’Ivoire, utilizing data from the 2016 World Bank Enterprise Surveys. Through descriptive analysis and the Fairlie decomposition model, the research uncovers significant findings. Female-owned firms demonstrate higher proactivity in applying for credit, with 36.0% seeking loans compared to 23.5% of male-owned firms. Additionally, 32.6% of female-owned firms secure credit versus 21.7% of male-owned counterparts, resulting in a gender gap of 10.9%. The Fairlie decomposition attributes 51.4% of this gap to observable differences in endowments, while 48.6% is linked to unobservable factors. Contrary to traditional narratives, the results suggest that female entrepreneurs in Côte d’Ivoire are more engaged in the credit market and more successful in obtaining loans, potentially due to better preparation, supportive networks, and perceived lower risk by lenders. The study highlights the critical roles of both observable factors, such as business size and sector, and unobservable elements, including lender perceptions and gender-specific strategies. The findings call for nuanced policy interventions to support female entrepreneurship, including tailored financial products, enhanced business networks, and strategies to mitigate implicit biases in financial institutions while promoting gender equity in Côte d’Ivoire. |
| Keywords: | Gender, Business Ownership, Access to Finance, Côte d’Ivoire |
| JEL: | G21 G32 J16 L21 L26 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:339394 |