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on Small Business Management |
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Issue of 2011‒11‒21
seven papers chosen by Joao Carlos Correia Leitao University of Beira Interior and Technical University of Lisbon |
| By: | Pedro Oliveira (Faculdade de Engenharia, Universidade do Porto); Aurora A.C. Teixeira (CEF.UP, Faculdade de Economia, Universidade do Porto; INESC Porto; OBEGEF) |
| Abstract: | Given the (increasing) view point that firms’ internationalization strategy is the unique path to overcome the Portuguese dismissal economic growth, the present paper offers a comprehensive picture of the internationalization behavior of Portuguese SME, constituting therefore an important tool for political action. On the basis of the literature review and the factorial and cluster analyses performed, we propose three main segmentation criteria, one (‘Whole encompassing segmentation’: Experienced Medium Low-Tech firms; Low skill, Low-Tech firms; Young High-Tech firms) based on language skills, SME business experience, foreign market dependency, introduction of organizational innovation, exporting to ‘High income countries’ and education level of executive teams. The second segmentation proposal (‘Intermediate segmentation’: Young small-sized firms; Young micro-sized firms; Mature small-sized firms; Young medium-sized firms; Mature medium-sized firms; Foreign equity firms; Highly productive firms) has as criteria the firm size, the SME export intensity and industry. The last segmentation proposal (‘Parsimonious segmentation’: Medium-sized firms; Small-sized manufacturing firms; Micro-sized firms; Non-manufacturing small-sized firms; Export active small-sized firms; Potential exporters; Promising exporters firms) is based on SME size, business experience, foreign capital presence, and average productivity. Given the need for a parsimonius segmentation criterion, we convey that the most adequate segmentation criterion is the one combining SME size, export intensity and industry. This restricted number of criteria does not, however, affect the quality of the proposed SME segmentation, and has the advantage of being stasticaly adequate and user/cost friendly. |
| Keywords: | Internationalization performance determinants, Portugal, Segmentation, SME |
| Date: | 2011–11 |
| URL: | http://d.repec.org/n?u=RePEc:por:fepwps:439&r=sbm |
| By: | Yuan-Cheih Chang; Phil Yihsing Yang; Tung-Fei Tsai-Lin; Hui-Ru Chi |
| Abstract: | This paper examines how universities can develop a new organizational structure to cope with the rise of academic entrepreneurship. By deploying the Pasteurian quadrant framework, knowledge creation and knowledge utilization in universities are measured. The relationships between university antecedents, Pasteurian orientation, and research performance are analyzed. A survey of university administrators and faculty members collected 634 responses from faculty members in 99 departments among 6 universities. The findings indicate that university antecedents of strategic flexibility and balancing commitment contribute to a greater Pasteurian orientation in university departments. The higher degree of Pasteurian orientation has significantly positive impacts on the performance both of knowledge creation and knowledge utilization. Moreover, the Pasteurian orientation acts as a mediator between university antecedents and research performance. Using cluster analysis, the departments are categorized into four groups. The differences between university- and department- factors in these four groups are examined and discussed. We conclude that not all university departments should move toward the Pasteurian group, and there are specific organizational and disciplinary factors resulting in mobility barriers among groups. Policies to encourage academic entrepreneurship should consider these mobility barriers, along with this new governance of science. |
| Keywords: | Academic entrepreneurship, Pasteur’s quadrant, research excellence, research commercialization |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:aal:abbswp:11-07&r=sbm |
| By: | Audretsch, David B. (Indiana University); Link, Albert N. (University of North Carolina at Greensboro, Department of Economics) |
| Abstract: | The purpose of this paper is to identify and unravel the disparate views toward innovation prevalent within the economic community and to link them to the various public policy approaches. These various schools of thought, or ways of thinking about the economy in general and the role of entrepreneurship and innovation in particular, not only shape how innovation and entrepreneurial activity are valued, but also the overall policy debate concerning innovation and entrepreneurship. Unraveling of these views sets highlights the disparate way in which entrepreneurial activity leading to innovation is valued. |
| Keywords: | Entrepreneurship; Innovation; Economic Theory |
| JEL: | E10 L26 O31 |
| Date: | 2011–11–08 |
| URL: | http://d.repec.org/n?u=RePEc:ris:uncgec:2011_019&r=sbm |
| By: | Jean Bonnet, University of Caen Basse-Normandie - CREM-CNRS, France; Sylvie Cieply, University of Caen Basse-Normandie - CREM-CNRS, France; Marcus Dejardin, FUNDP - University of Namur, CERPE, Belgium. |
| Abstract: | This article investigates the interrelationships between finance and entrepreneurship by exploring regional discrepancies in France. The focus is (1) on regional differences in financial relationships, (2) on the way these relations influence financial constraints on new firms and (3) on the complementary/substitutable effects between funds. No path of exclusion is identified. Rather, firms that are self-constraining or suffer from a weak credit rationing are the ones that later on develop intensive relationships with banks. Substitution exists in almost all the French regions. Results suggest the departure point of an original pecking order theory according to the entrepreneurial intensity of regions. |
| Keywords: | financial constraints, credit rationing, financial relationships, new firms, regional development, regional disparities |
| JEL: | G20 M13 R10 |
| Date: | 2011–11 |
| URL: | http://d.repec.org/n?u=RePEc:tut:cremwp:201127&r=sbm |
| By: | Mohammad Movahedi, University of Caen Basse-Normandie - CREM-CNRS, France; Olivier Gaussens, University of Caen Basse-Normandie - CREM-CNRS, France |
| Abstract: | This paper presents an analysis of the relationship between innovation, productivity and exports regarding the SMEs. The main research aim of this study consists in analyzing the hypothesis of firms’ conscious self-selection in the export markets. To measure innovation, we consider the dimensions of technological as well as non technological innovation, as defined by the Oslo Manual (2005). To achieve this, we use the database of SMEs obtained from the survey conducted in the project IDEIS. First, we highlight the existence of export as well as innovation apparent premium, i.e. the advantage of exporting (innovative) firms versus non-exporting (not innovative) ones in terms of productivity. In addition, we demonstrate the effectiveness of the export premium for firms carried out process and organization innovations with the enough exportation. Finally we show the firms’ conscious self-selection in export markets in endogenizing productivity through innovation. |
| Keywords: | Innovation, Productivity, Exportation, Conscious self-selection |
| JEL: | F1 O3 D2 L25 C14 C3 |
| Date: | 2011–09 |
| URL: | http://d.repec.org/n?u=RePEc:tut:cremwp:201123&r=sbm |
| By: | Audretsch, David B. (Indiana University); Link, Albert N. (University of North Carolina at Greensboro, Department of Economics) |
| Abstract: | This paper focuses on valuation issues and methods that are related to a closely-held entrepreneurial enterprise. This focus is motivated by the fact that the number of small closely held business start-ups, which we refer to broadly by the term entrepreneurial enterprises, continues to grow year after year, and new business ventures remain the primary source for employment growth in the United States and most industrialized nations. And, the topic of the valuation of an entrepreneurial enterprise has for the most part been ignored. The traditional approaches to the valuation of small closely held entrepreneurial enterprises are, in our view, wanting in a number of important respects. Simply, traditional valuation methods are modeled in a manner that is applicable to a going-concern business with a history of sales and revenues. That is not the case for an entrepreneurial enterprise as we define it, and thus the use of traditional valuation methods is questionable. |
| Keywords: | Entrepreneurship; Valuation; Closely-held Business |
| JEL: | L26 O31 |
| Date: | 2011–11–10 |
| URL: | http://d.repec.org/n?u=RePEc:ris:uncgec:2011_020&r=sbm |
| By: | Jean Bonnet, University of Caen Basse-Normandie - CREM-CNRS, France; Thomas Brau, University of Caen Basse-Normandie - CREM-CNRS, France; Antonia Guijarro Madrid, Associate professor Accounting and Finance Department, Technical University of Cartagena (UPCT). Spain |
| Abstract: | The creation of an innovative firm as a way to remedy the professional dissatisfactions of salaried people has been evoked early in the literature (Shapero 1975, 1977). In this paper, while covering the « elementary components » of global dissatisfactions we focus on eight specific fields: creativity, intellectual stimulation and variety related to the expression of intellectual capacities ; management, independence, prestige characterizing the attachment to executive job ; altruism and tangible work related to the purpose of work (helping others and getting concrete results of one’s labor). Results show that the creation of innovative firms takes place as an effective way to solve in some fields « what was not going well » in the salaried work. These results make it possible to detect profiles of salaried people looking for professional change who might be interested by the wide possibilities offered by the innovative firm for their choice of new orientations. |
| Keywords: | Innovative entrepreneurship, Psychology of the entrepreneur, Job satisfaction, Professional dissatisfactions, Professional values |
| JEL: | L26 |
| Date: | 2011–10 |
| URL: | http://d.repec.org/n?u=RePEc:tut:cremwp:201121&r=sbm |