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on Entrepreneurship |
| By: | Thurik, Roy (Erasmus School of Economics); Kato, Masatoshi (Kwansei Gakuin University); van der Zwan, Peter (Leiden University); Kageura, Chihiro |
| Abstract: | Numerous studies deal with the link between daily recovery experiences (DRE) and mental health for employees. Hardly any studies exist for small business owners. This is surprising given that their health is not just important for themselves but also for their environment (such as employees, clients, suppliers, networks). In the present study we analyse if this link also works for some 2, 400 Japanese small business owners. Next to overall DRE, four dimensions of DRE are distinguished (detachment, relaxation, mastery, and control). Mental health is captured using well-being (psychological well-being and job satisfaction) and ill-being (burnout and stress). First, we compare our DRE levels with many other (employee) studies. Second, controlling for many phenomena including participating in nomikai (a typical Japanese custom of getting together after office hours), we show that the quality of overall DRE is positively linked to well-being, and negatively to ill-being. Third, like the quality of overall DRE, nomikai activities of the owner are positively linked to their psychological well-being and job satisfaction, and negatively to burnout and stress. Its role seems to be independent of that of the quality of DRE. |
| Keywords: | well-being, Nomikai, daily recovery experiences, entrepreneurs, small business owners/managers, job satisfaction, burnout, stress, Japan |
| JEL: | I12 I31 L26 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18227 |
| By: | Leonardo Burlamaqui |
| Abstract: | This paper reconstructs Joseph Schumpeter's major works to propose a coherent new departure point for analyzing economic and social change. I argue that Capitalism, Socialism and Democracy (1942) (CSD) marks a radical departure from Schumpeter's earlier attempts in The Theory of Economic Development (1912 [1934]) (TED) and Business Cycles (1939) (BC) to merge equilibrium theory with evolutionary dynamics. In CSD, equilibrium disappears, cycles recede, and capitalism is recast as a process of creative destruction--turbulent, conflictual, and institutionally embedded. Yet the building blocks of this paradigm--innovation, the entrepreneurial function, credit creation, capital as a social relation, and the seeds of financial fragility--were already present in TED and BC, though obscured by equilibrium reasoning. The originality of this reconstruction lies in recovering Schumpeter's neglected concept of the "secondary wave, " buried in BC, which anchors financial fragility within the creative destruction paradigm and provides the bridge to Keynes's liquidity preference and Minsky's financial instability hypothesis. Reconstructed in this way, Schumpeter's trilogy yields a framework in which credit, innovation, technological disruptions, and financial fragility are inseparable. The synthesis illuminates both the resilience and the instabilities of contemporary capitalism and, when extended, helps to explain the logic of "hybrid institutional architectures"--above all the "China model, " today's most ambitious and misunderstood experiment in innovation-led, state-directed development in contemporary political economy. |
| Keywords: | Schumpeter; Keynes; Minsky; creative destruction; innovation; conflict; secondary wave; liquidity preference; financial fragility; economic and social change |
| JEL: | B15 B25 B52 E32 E44 O30 O43 P16 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:lev:wrkpap:wp_1098 |
| By: | Miklós Koren; Krisztina Orban |
| Abstract: | Management quality drives firm performance and aggregate productivity, yet the supply of managerial talent remains poorly understood. A key friction is that hired managers cannot fully appropriate the surplus they generate, unlike entrepreneurs who own their firms, creating a wedge between private and social returns to management. Here we develop a general equilibrium model to quantify how this corporate governance friction distorts talent allocation between entrepreneurship, management, and employment. Using the universe of Hungarian firms and CEOs (1986--2022), we exploit the transition to capitalism—when the count of enterprises increased from 21, 000 to 115, 000 in three years—to identify the parameters of the model. We find that managers capture only 60% of the surplus they create, resulting in too few professional managers and too many less-productive entrepreneurs. Eliminating this friction would raise GDP per worker by 4% through improved occupational composition. Uniform subsidies fail to correct the misallocation, raising GDP by only 0.1%. Our results show that management interventions' aggregate effects depend critically on targeting the specific friction between hired managers and entrepreneurs rather than expanding the overall pool of business leaders. |
| Date: | 2025–09–30 |
| URL: | https://d.repec.org/n?u=RePEc:ceu:econwp:2025_2 |
| By: | Abdo Khoury (CERGAM - Centre d'Études et de Recherche en Gestion d'Aix-Marseille - AMU - Aix Marseille Université - UTLN - Université de Toulon) |
| Abstract: | Entrepreneurial legitimacy is a multidimensional construct that remains conceptually fragmented despite its recognized importance in entrepreneurship research. While various disciplines have explored legitimacy through sociological, psychological, and organizational lenses, a unified theory has yet to emerge. Prior research highlights the role of legitimacy in organizational success, particularly in gaining stakeholder support and facilitating internationalization. Though, little is known about how entrepreneurs construct their identities to gain legitimacy in global markets. This study addresses this gap by investigating how Lebanese entrepreneurs enact entrepreneurial identities to build international legitimacy. Drawing on social identity theory and institutional theory, we examine the interplay between legitimacy and internationalization in entrepreneurial ventures. Using a grounded theory approach, this research develops a framework for understanding how legitimacy is acquired and managed throughout a venture's lifecycle. Our findings contribute to entrepreneurship and legitimacy literature by offering insights into the strategic identity work entrepreneurs engage in to enhance their competitiveness in international markets. |
| Keywords: | Network, Internationalization, Strategies, Entrepreneurship, Legitimacy |
| Date: | 2025–06–25 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05337783 |
| By: | Massenz, Gabriella (Research Institute of Industrial Economics (IFN)) |
| Abstract: | How do corporate tax systems shape the boundaries of the firm? This paper shows that nonlinear corporate income taxation can distort firms’ organizational structures by inducing tax-motivated firm splitting. I use administrative data on corporations and their owners and exploit two reforms that altered the tax benefits and costs of dividing a firm into multiple entities. First, I show that a temporary increase in the tax advantage of splitting reduces the share of firms filing jointly for corporate income tax purposes. Second, once the benefit is perceived as permanent and minimum capital requirements for new firms are abolished, the number of firms per entrepreneur rises significantly and persistently. Finally, I show that reorganizations are primarily driven by tax motives, as I find no effect on firms’ total assets, employment, or industry diversification. These findings highlight extensive-margin responses of business organization to corporate taxation, with relevant implications for the understanding of firm dynamics and for tax design. |
| Keywords: | Firm splitting; Corporate income tax; Tax avoidance |
| JEL: | H25 H26 H32 |
| Date: | 2025–10–30 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:iuiwop:1539 |
| By: | Fichter, Klaus; Neumann, Thomas; Olteanu, Yasmin; Grothey, Tim |
| Abstract: | A central element of this research by the Borderstep Institute is the systematic long-term measurement of the green start-up ecosystem in Germany. This year, the findings will be published as the "Green Startup Report 2025". The study marks a milestone: for the first time, a new, scientifically validated methodology is being used that enables a much more precise analysis of the dynamics of green start-ups. It is based on data on more than 12, 000 young companies and over 50, 000 commercial register entries on investments in start-ups. The Green Startup Report 2025 thus offers a previously unrivalled level of empirical depth and enables more well-founded statements to be made about the development of sustainable business models, their market opportunities and their actual contribution to climate protection. The analysis makes it clear that green start-ups are relevant players in the sustainable transformation. They develop market-based solutions for environmental and climate protection. Through their entrepreneurial activities, they make a measurable contribution to achieving national and European climate targets. |
| Keywords: | Entrepreneurship, Green Startup, Interpreneurship, Sustainable Entrepreneurship, Green Economy, Green Startup Report, Start-up Ecosystem, Impact, Impact Assessment, Impact Forecasting, Climate Protection Potential, Start-up funding and financing |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esrepo:330411 |