nep-ent 2025-08-18 papers

on Entrepreneurship

Issue of 2025–08–18
three papers chosen by
Marcus Dejardin, Université de Namur

Social entrepreneurship in nineteenth century Britain: The Free Church of Scotland By Sawkins, John W.
Financing MSMEs in Indonesia: Credit and Financial Inclusion By Maretha Roseline Syahnie; Muhammad Ryan Sanjaya
The Role of Certifications and Immersive Technologies in the Context of Digital Transformation of Enterprises By Winkler, Nane

Social entrepreneurship in nineteenth century Britain: The Free Church of Scotland

By:	Sawkins, John W.
Abstract:	This paper examines the establishment and early evolution of the Free Church of Scotland; the only British religious denomination to be founded on a national scale through voluntary financial support from its inception. Through an analysis of the church's origins and early institutional development the paper offers fresh insights into nineteenth-century Scotland's foremost voluntary institution. Central to this is the socially entrepreneurial leadership of Rev Dr Thomas Chalmers, as well as the structural deficiencies in institutional governance that impaired the church's capacity to address enduring financial challenges, notably cross-subsidy and debt. In doing so, the study contributes to the field of business history by analysing a previously overlooked organizational form that emerged from a long running conflict between ecclesiastical and state authorities over the limits of sovereign power.
Keywords:	Voluntary sector, social entrepreneurship, church, Victorian Scotland
JEL:	L31 N8 Z12
Date:	2025
URL:	https://d.repec.org/n?u=RePEc:zbw:hwuaef:323948

Financing MSMEs in Indonesia: Credit and Financial Inclusion

By:	Maretha Roseline Syahnie (Department of Economics, Faculty of Economics & Business, Universitas Gadjah Mada); Muhammad Ryan Sanjaya (Department of Economics, Faculty of Economics & Business, Universitas Gadjah Mada)
Abstract:	MSMEs, also known as micro, small, and medium-sized enterprises, are the backbone of the economy in developing countries. Empirical studies indicate that SMEs generally face obstacles, particularly in financing. This study focuses on two main aspects: indexing financial inclusion using principal component analysis (PCA), and analyzing credit and financial inclusion using vector autoregression (VAR) for forecasting. Through a two-stage indexing methodology, the study emphasizes the importance of geographical reach in financial inclusion availability compared to demographic reach, with availability being the most crucial dimension compared to accessibility and usage. VAR models and forecasting were developed for the period from March 2012 to July 2022 in Indonesia, incorporating other variables, such as accessto credit, credit risk, and real GDP. The use of VAR demonstrates consistency, accuracy, and reliability in producing predictions that closely approximate reality, providing a critical basis for policymakers.
Keywords:	Micro, small, and medium enterprises (MSMEs) financing, principal component analysis (PCA), financial inclusion index, credit, vector autoregression (VAR), forecasting, Indonesia
JEL:	C32 E44 G21 O16
Date:	2024–07
URL:	https://d.repec.org/n?u=RePEc:gme:wpaper:202407007

The Role of Certifications and Immersive Technologies in the Context of Digital Transformation of Enterprises

By:	Winkler, Nane
Abstract:	This doctoral thesis investigates the role of certifications and immersive technologies (ImTs) in the digital transformation of enterprises, with a particular focus on e-commerce and small to medium-sized enterprises (SMEs). In form of a cumulative doctoral thesis, it presents a synthesis of three interrelated studies: the moderating effect of prior purchase experiences on the impact of IS certifications, the factors contributing to immersion in virtual reality (VR) environments, and the affordances and constraints influencing the adoption of ImTs in SMEs. The first study explores the role of information systems (IS) certifications in building customer trust in e-commerce, specifically investigating how prior purchase experiences with the same vendor moderate the effect of IS certifications on purchase intention. Drawing on expectation confirmation theory (ECT) and using the factorial survey method, the study reveals that while positive prior experiences have little impact, negative experiences significantly diminish the influence of IS certifications on purchase intention. This study contributes to e-commerce practices by emphasizing the importance of managing customer experiences to maximize the effectiveness of IS certifications in driving purchasing decisions. The second study focuses on the phenomenon of immersion in VR environments. While previous research has identified some immersion factors, advancements in VR technology, such as high-resolution head-mounted displays and precise motion tracking systems, have yet to be fully examined. Through semi-structured interviews with participants using modern VR equipment, this study identifies eleven immersion factors across three categories: physical and physiological aspects, cognitive and affective aspects, and social interaction and shared experience. Notably, the study introduces two novel factors—shared experience and translating actions from physical to virtual reality—that enhance user immersion in highly interactive VR environments. The third study investigates the potential of ImTs for SMEs, which, despite the affordances presented by ImTs—such as virtual prototyping and employee training with extended reality technologies—face significant constraints of this technology to adoption. Through qualitative analysis of semi-structured interviews with ImT providers and users in the context of SMEs, the research uncovers both the affordances and constraints associated with ImTs adoption. Novel key findings include improved worker safety as a benefit of ImTs and the lack of standardization as a critical barrier for SMEs. The study offers practical insights for SMEs on overcoming these challenges and integrating ImTs to remain competitive in the digital age. Together, this doctoral thesis examines the role of IS certifications, VR immersion and the adoption of ImTs in the context of digital transformation of enterprises. The findings contribute to both theoretical frameworks and practical applications by offering actionable insights for enterprises on adopting digital tools to enhance customer trust, user engagement, and operational efficiency.
Date:	2025–08–05
URL:	https://d.repec.org/n?u=RePEc:dar:wpaper:156200

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