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on Small Business Management |
| By: | Raphaël Chiappini (Université de Bordeaux; LAREFI); Samira Demaria (Université Côte d'Azur, France; GREDEG CNRS); Benjamin Montmartin (SKEMA Business School; Université Côte d'Azur, France); Sophie Pommet (Université Côte d'Azur, France; GREDEG CNRS) |
| Abstract: | Credit constraints hamper the ability of SMEs to undertake innovative activities. Promoting access to external funding for SMEs represents therefore an important challenge for policymakers. This paper investigates whether innovation subsidies provided by the French public investment bank to SMEs have translated into better access to bank and other external financing through an indirect certification effect. We exploit a unique database covering the period 2000-2010 to construct a quasi-natural experiment and evaluate the causal impact of these subsidies on SMEs' financial constraints. If we find a significant improvement in the access to bank financing for subsidized firms, the effect is heterogeneous and mainly concentrated on small firms operating in high-tech sectors. Moreover, such public support does not seem to improve the access to other external sources of financing which can be explained by the low development risk-capital markets in France. |
| Keywords: | Credit constraints, innovation policy, certification effect, Mahalanobis distance matching, difference-in difference |
| JEL: | O33 O38 |
| Date: | 2020–03 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2020-09&r=all |
| By: | F.C. Stam |
| Abstract: | There is growing interest in ecosystems as an approach for understanding the context of entrepreneurship at the macro level of an organizational community. It consists of all the interdependent actors and factors that enable and constrain entrepreneurship within a particular territory. Although growing in popularity, the entrepreneurial ecosystem concept remains loosely defined and measured. This paper shows the value of taking a systems view of the context of entrepreneurship: understanding entrepreneurial economies from a systems perspective. We use a systems framework for studying entrepreneurial ecosystems, develop a measurement instrument of its elements, and use this to compose an entrepreneurial ecosystem index to examine the quality of entrepreneurial ecosystems in the Netherlands. We find that the prevalence of high-growth firms in a region is strongly related to the quality of its entrepreneurial ecosystem. Strong interrelationships among the ecosystem elements reveal their interdependence. |
| Keywords: | entrepreneurial ecosystem elements, regional entrepreneurial ecosystems, entrepreneurial economy, entrepreneurship, high-growth firms, systems analysis |
| Date: | 2019–06 |
| URL: | http://d.repec.org/n?u=RePEc:use:tkiwps:1907&r=all |
| By: | Hien Thu Pham (CSIRO, QLD, Australia); Nhan Buu Phan (School of Economics, University of Queensland); Shino Takayama (School of Economics, University of Queensland) |
| Abstract: | By applying recently developed methodologies to Vietnamese data from 2000 to 2016, this paper studies production efficiencies and total factor productivity in manufacturing industries, using two separate empirical methodologies. The paper shows that middle-sized firms’ production efficiencies tend to be lower than those of small-sized or large-sized firms in most of the manufacturing industries, and that the middle-sized firms are quite diverse in terms of efficiencies. Further, we show that the level of productivity is also quite diverse across different firm sizes in most industries. Given these observations, we present a simple theoretical analysis to indicate how our empirical findings could affect a firm’s decision in expanding business size. Over the past few decades, the Vietnamese government has conducted policies to promote small-sized and middlesized firms. Our findings indicate the importance of adopting policies that reduce the uncertainty that those firms may possibly face, such as financial support. |
| Date: | 2020–03–26 |
| URL: | http://d.repec.org/n?u=RePEc:qld:uq2004:617&r=all |
| By: | Mathew, Nanditha (UNU-MERIT); Paily, George (Centre for Development Studies, Trivandrum) |
| Abstract: | This paper examines the effect of dfferent innovation strategies followed by small and large firms on their overall performance in the capital goods industry. Following the wider literature on national innovation systems, we categorise the innovation modes as formal Science, Technology and Innovation (STI) and informal learning by Doing, Using and Interacting (DUI) mode. We observe that, in the case of small firms the informal learning and experience based innovation mode is related to improved performance, while the formal STI mode does not have any effect. On the other hand, for large firms, both STI and DUI innovation modes are positively related to its sales growth. Our results indicate that building certain DUI capabilities may act as a pre-condition to enhance the strength of science and technology based innovation strategies. |
| Keywords: | STI, DUI, Modes of innovation, Capabilities accumulation, Corporate performance, capital goods industry, India |
| JEL: | O32 O33 L20 |
| Date: | 2020–02–11 |
| URL: | http://d.repec.org/n?u=RePEc:unm:unumer:2020008&r=all |
| By: | Niklas Elert; F.C. Stam; Mikael Stenkula |
| Abstract: | Trust and entrepreneurship are seen as key ingredients of long term prosperity. However, it is not clear how these two are related. Part of the confusion can be traced back to the measurement of entrepreneurship, biased towards independent entrepreneurship (self-employed and new firms), and excluding entrepreneurship within established organizations. We shed new light on the relationship between trust and entrepreneurship, by proposing two mechanisms relating trust to entrepreneurship by employees, so-called intrapreneurship. We hypothesize that generalized trust influences the prevalence of intrapreneurship in an economy, and the allocation of entrepreneurial talents between independent entrepreneurship and intrapreneurship, through two mechanisms. First, generalized trust may substitute for complete contracts as a means of organizing labor in society, enabling a level of job autonomy in organizations necessary for intrapreneurship to flourish. Second, by way of its influence on the size and scope of the welfare state, generalized trust may increase the benefits of employment relative to self-employment, causing entrepreneurial individuals to elect to be intrapreneurs rather than independent entrepreneurs. Using a novel dataset, we find support for these hypotheses in a cross-country regression model covering the time period 2011–2017. |
| Keywords: | trust, intrapreneurship, entrepreneurship, institutions |
| Date: | 2019–06 |
| URL: | http://d.repec.org/n?u=RePEc:use:tkiwps:1908&r=all |
| By: | Juan A. Máñez Castillejo (Universitat de València and ERICES); Oscar Vicente-Chirivella (Universitat de València) |
| Abstract: | We investigate the role of financial constraints on firms’ exporting behaviour, including firms’ export decision, export intensity, firms starting to export decision and exports persistence. Our financial constraints variable is a synthetic variable that summarises information on different dimensions such as total assets, profitability, liquidity, solvency, repaying ability and (new in this type of analyses) the cost of external financing. Using data on Spanish manufacturing for the period 1992-2014, we find evidence supporting that financial health is relevant to explain SMEs exporting decisions and starting to export decisions but not those of large firms. Financial health does not seem to affect large firms’ export intensity and the results of the impact of financial health on SMEs export intensity are not conclusive. Nevertheless, financial health is a determinant of export persistence of large firms and SMEs. |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:eec:wpaper:1921&r=all |
| By: | Juan A. Máñez Castillejo (University of Valencia and ERICES); James H. Love (Unviersity of Leeds) |
| Abstract: | This paper analyzes and quantifies the fundamental factors that are likely to cause persistence in performing R&D activities: the existence of sunk costs associated with R&D activities and the process of learning that characterizes this type of activity. We estimate our model with Spanish manufacturing firms for the period 1991-2014. By decomposing the effects of sunk costs and learning effects, we find that both are important determinants of R&D persistence, and that failing to allow for learning systematically overestimates sunk cost effects. Both large firms and SMEs benefit from direct and indirect (via productivity) effects of R&D experience, but in large firms this is more likely to be manifest through productivity improvements while in smaller firms the effect is more skewed towards a direct effect on R&D likelihood. Further, our results suggest that whereas the impact of sunk costs in R&D persistence is greater for large firms than for SMEs, the scope for direct learning from continuous R&D engagement is greater for SMEs than for larger firms. |
| Keywords: | R&D persistence, sunk costs; learning effects |
| JEL: | O32 L60 |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:eec:wpaper:1920&r=all |
| By: | Antoine Bozio (PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, IPP - Institut des politiques publiques, PSE - Paris School of Economics); Sophie Cottet (IPP - Institut des politiques publiques); Loriane Py (Centre de recherche de la Banque de France - Banque de France) |
| Abstract: | Le Crédit d'impôt recherche (CIR) est aujourd'hui le principal dispositif de soutien public à l'investissement en recherche et développement en France. Au vu de l'enjeu, à la fois pour les finances publiques et pour le potentiel de croissance, l'évaluation rigoureuse des politiques publiques de soutien à l'innovation est essentielle. Ce rapport contribue à ces évaluations, encore peu développées, en exploitant de nombreuses sources de données: données fiscales sur les entreprises, sur le crédit d'impôt recherche, sur les aides directes à l'innovation de Bpifrance, ainsi que l'enquête R&D du Ministère de l'Éducation nationale, de l'Enseignement supérieur et de la Recherche et les données PATSTAT de l'Office européen des brevets. L'appariement de ces données met en lumière la segmentation des dispositifs sur des populations d'entreprises aux caractéristiques différentes, mais aussi l'enjeu d'un non-recours élevé à ces dispositifs de soutien à l'innovation. Notre stratégie d'identification préférée repose sur la comparaison d'entreprises qui avaient recours au CIR avant la réforme de 2008 et d'entreprises qui n'ont jamais eu recours au CIR pendant la période d'analyse (2004-2011). Sous l'hypothèse qu'en l'absence de la réforme, l'évolution des dépenses de R&D de ces deux groupes d'entreprises aurait été parallèle, nous obtenons des effets positifs de la réforme sur les dépenses de R&D de l'ordre de 15 % à 18 % impliquant un multiplicateur du crédit d'impôt de 1,3 à 1,5 – c'est-à-dire un effet d'un euro de CIR entraînant de 1,3 à 1,5 euros de dépenses R&D supplémentaires – mais avec un intervalle de confiance qui n'exclut pas que l'effet soit inférieur à 1. L'effet sur les dépôts de brevet met en évidence un effet positif et significatif de l'ordre de 5 % sur la probabilité de déposer un brevet, mais aucun effet sur le nombre de brevets déposés conditionnellement au fait d'avoir déposé un brevet sur la période d'analyse avant réforme. Cet effet de la réforme 2008 sur une mesure de l'innovation permet d'émettre un jugement globalement positif, mais nuancé, avec un effet particulièrement limité au regard de l'effort en termes de finances publiques. |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:psewpa:halshs-02514732&r=all |
| By: | Jean-Luc Gaffard (OFCE Sciences-Po; Université Côte d'Azur; GREDEG CNRS; Institut Universitaire de France) |
| Abstract: | De la capacité de l'entrepreneur à concevoir une organisation apte à créer des canaux d'information suffisamment robustes dépend la nature des innovations effectuées, la façon dont sont exploitées les connaissances scientifiques et techniques, l'usage qui est fait de l'esprit créatif. C'est à cette aune qu'il convient de juger du comportement entrepreneurial, des rythmes imposés par la finance, de la façon dont sont allouées les ressources humaines. La réalité de la créativité réside dans le choix opéré entre recherche de rentes et innovations productives, entre une finance impatiente et une finance patiente, entre flexibilité et rigidité sur les marchés de travail. C'est un choix d'ordre organisationnel et institutionnel. |
| Keywords: | créativité, engagement, entrepreneuriat, innovation |
| JEL: | D21 D23 D47 J53 L26 |
| Date: | 2020–03 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2020-11&r=all |
| By: | Vera Barinova (RANEPA University); Sylvie Rochhia (Université Côte d'Azur, France; GREDEG CNRS); Stepan Zemtsov (RANEPA University) |
| Abstract: | In this work, we examine the factors and patterns of attracting highly skilled migrants by the Russian regions. Attracting such specialists is particularly relevant for large developing countries with territories actively losing qualified personnel, and, accordingly, opportunities for long-term development. The results of an econometric study show that there are a number of objective factors that are poorly modifiable but have a significant positive effect on staff recruitment: the demographic potential of neighbouring regions, the size of accessible markets, and the natural comfort of living. Adverse socio-economic conditions in the region, such as high unemployment, negatively affect the possibility of emigration. However, there are factors that the regional authorities and the federal government are able to influence in the medium term. One of the most important determinants remains the income of highly qualified specialists and the availability of housing. Highly qualified specialists also strive to move to regions with a high level of education and a good healthcare system. The creation of favourable conditions for entrepreneurship has a positive effect on attracting active migrants, providing opportunities for new firms' establishments. As recommendations for regional policy, in particular, attracting highly qualified specialists to the Russian rare-populated Far East, efforts are needed to develop rental housing and zero-interest mortgages, create high-performance jobs, especially in education, science and medicine, as well as general improvement of institutional conditions for conducting business. |
| Keywords: | Russian regions, migration, gravity model, market access, institutions, human development index, regional policy, high-tech sector |
| JEL: | P23 J61 P36 R23 |
| Date: | 2020–03 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2020-07&r=all |
| By: | Philippe Aghion; Antonin Bergeaud; Richard Blundell; Rachel Griffith |
| Abstract: | Matched employee-employer data from the UK are used to analyze the wage premium to working in an innovative firm. We find that firms that are more R&D intensive pay higher wages on average, and this is particularly true for workers in some low-skilled occupations. We propose a model in which a firm's innovativeness is reflected in the degree of complementarity between workers in low-skill and high-skilled occupations, and in which non-verifiable soft skills are an important determinant of the wages of workers in low-skilled occupations. The model yields additional predictions on training, tenure and outsourcing which we also find support for in data. |
| Keywords: | : Innovation, Skill-biased Technological Change, Wage, Complementarity. |
| JEL: | O33 L23 J31 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:bfr:banfra:739&r=all |
| By: | Mario Cimoli; Giovanni Dosi; Xiaodan Yu |
| Abstract: | This work discusses the role of industrial policies within an evolutionary view of innovation and learning as drivers of economic development. Building on the notions of technological paradigms and trajectories, it links the processes of catching-up with the dynamics of capability accumulation within and across firms. In turn such processes are embedded in broader national systems of innovation wherein industrial policies play a pivotal role. |
| Keywords: | Technological paradigms; Catching up; Theory of production; Absolute and Comparative Advantages; National systems of innovation; Industrial Policies; Economic Evolution and Development. |
| Date: | 2020–03–30 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2020/08&r=all |
| By: | Andrew B. Bernard; Teresa C. Fort; Valerie Smeets; Frederic Warzynski |
| Abstract: | This paper exploits a unique offshoring survey to show that firms continue domestic production of the same goods they offshore to low-wage countries. This shift towards “produced-good imports” coincides with a reallocation of labor from physical production to innovation and technology occupations, and an increase in domestically-produced varieties' unit values. These responses suggest an additional, firm-level benefit of trade liberalization: the opportunity to offshore production of low-quality varieties, thereby freeing up domestic resources for the development, production, and marketing of higher-quality varieties. Firms’ reactions also motivate a new offshoring measure – produced- good imports – that is readily observed in most firm-level datasets. |
| JEL: | F14 F16 F23 F61 L23 L25 |
| Date: | 2020–03 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:26854&r=all |
| By: | J. Leendertse; M.T. Schrijvers; F.C. Stam |
| Abstract: | An entrepreneurial ecosystem comprises a set of interdependent actors and factors that are governed in such a way that they enable productive entrepreneurship within a particular territory. While the entrepreneurial ecosystem approach is useful to think about regional economies, it currently lacks full-fledged metrics to enable policy. In this paper, we bridge this gap by quantifying and qualifying regional economies using the entrepreneurial ecosystem approach. We operationalize ten elements of entrepreneurial ecosystems for 274 regions in the 28 countries of the European Union. The ecosystem elements show strong and positive correlations between them, confirming the systemic nature of entrepreneurial economies, and the need for a complex systems perspective. Our results show that formal institutions and physical infrastructure take a central position in the interdependence web, providing a first indication of these elements as fundamental conditions of entrepreneurial ecosystems. We then use the elements to calculate an index that measures the quality of entrepreneurial ecosystems. This index is robust and performs well in regressions to predict entrepreneurial output, which we measure using novel data on productive entrepreneurship |
| Keywords: | entrepreneurial ecosystem, regional dynamics, entrepreneurship, economic development, economic policy, entrepreneurship policy |
| Date: | 2020–02 |
| URL: | http://d.repec.org/n?u=RePEc:use:tkiwps:2001&r=all |
| By: | Kroll, Henning; Koschatzky, Knut |
| Abstract: | It is the objective of this paper to analyse the role innovation policy could play in the promotion of regional change, using Germany as a case study, and to develop a typology of structurally weak regions for tailored and regionally specific policy interventions. |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fisifr:r12020&r=all |
| By: | Gascón Salillas, Patricia |
| Abstract: | Resumen En este trabajo se realiza un estudio del emprendimiento dentro de la Comunidad Foral de Navarra. Para ello utiliza los datos de la base de datos Global Entrepreneur Monitor con el objetivo de realizar un análisis de los diferentes factores que afectan en el emprendimiento, y, si hay diferencias entre género o entre emprendedores por necesidad, por oportunidad o nuevos emprendedores. Los resultados establecen la gran importancia de la autopercepción de las habilidades para emprender y de las oportunidades futuras de negocio. Abstract This paper studies entrepreneurship in Navarra, Spain. For this aim, this work uses the data of the Global Entrepreneur Monitor to analyses different factors that affect entrepreneurship, and, if there are differences between gender or between necessity, opportunity or nascent entrepreneurs. Results establish the great importance of self-perception of skills to entrepreneur and future business opportunities. |
| Keywords: | emprendimiento, Comunidad Foral de Navarra, TEA |
| JEL: | L26 R10 |
| Date: | 2020–03–31 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:99386&r=all |
| By: | Richard Carson; Joshua S. Graff Zivin; Jordan Louviere; Sally Sadoff; Jeffrey G. Shrader Jr |
| Abstract: | Innovation is important for firm performance and broader economic growth. But breakthrough innovations necessarily require greater risk-taking than more incremental approaches. To understand how managers respond to uncertainty when making research and development decisions, we conducted three experiments with master’s degree students in a program focused on the intersection of business and technology. Study participants were asked to choose whether to fund hypothetical research projects using a process that mirrors real-world research and development funding decisions. The experiments provided financial rewards that disproportionately encouraged the choice of higher-risk projects. Despite these incentives, most participants chose lower-risk projects at the expense of projects more likely to generate a large payoff. We also elicited participants’ personal risk preferences and found that decision-makers who are more tolerant of risk were more likely to fund breakthrough projects. The results suggest that the risk preferences of managers in charge of research investments may have an oversized effect on the rate of breakthrough innovation and the profitability of firms. |
| JEL: | D8 G11 O3 |
| Date: | 2020–03 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:26847&r=all |
| By: | Carolin Eckinger; M.W.J.L. Sanders |
| Abstract: | This paper investigates user innovations in business incubation programs. User innovations are defined as innovations by users rather than suppliers of products, processes or services and have been identified as a potentially rich source of innovative ideas. Business incubators aim to help entrepreneurs find and develop ideas into viable businesses and have been shown to contribute to the success rate of start-ups. Current incubator acquisition strategies, however, are rather passive (founders need to apply) and selection into the incubation programs is geared towards attracting potentially profitable start-ups. User innovations often lack a dedicated founder team and the innovator typically has a lower ambition to build a venture and achieve profitability. In this paper we construct a measure based on existing literature to classify user innovations in a dataset of 296 start-ups that applied to one of two incubation programs between 2014 and 2017 in the Netherlands. Analysing this dataset, we found only 19 and find that incubator programs benefit user innovations as much as they do other ventures. Our data also suggests a negative self-selection bias of user innovations, shown by very few user innovations applying to incubation programs. At the same time only a few of the user innovations found have been selected for incubation, revealing an additional selection bias of incubator acquisition strategies towards user innovations |
| Keywords: | User Innovation, Business Incubation, Startups, Entrepreneurship |
| Date: | 2019–08 |
| URL: | http://d.repec.org/n?u=RePEc:use:tkiwps:1916&r=all |
| By: | T.T.A. Duong; C.J.M. Kool; L. Zhang |
| Abstract: | This paper examines the impact of borrowing constraints and productivity on the export decision of Vietnamese firms, where we approximate borrowing constraints by leverage and the tangible asset ratio. Using a large firm-level dataset for the years 2009-2014, we show that borrowing constraints play an important role in the export decision. There is an inverse U-shaped relationship between leverage and the export probability for private manufacturers. The marginal effect of leverage is declining with leverage, but positive up till a leverage ratio of about 47 percent and negative beyond. Borrowing constraints matter both for the decision to start exporting and for the decision to continue exporting, but more so for the latter. Medium and high productive firms are more sensitive to borrowing constraints than low productive firms. |
| Keywords: | international trade, heterogeneous firms, non-linear effects, probit analysis, leverage, productivity, credit constraints |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:use:tkiwps:1921&r=all |
| By: | Kaiser, Ulrich (University of Zurich); Kuhn, Johan Moritz (EPAC) |
| Abstract: | Can publicly available, web-scraped data be used to identify promising business startups at an early stage? To answer this question, we use such textual and non-textual information about the names of Danish firms and their addresses as well as their business purpose statements (BPSs) supplemented by core accounting information along with founder and initial startup characteristics to forecast the performance of newly started enterprises over a five years' time horizon. The performance outcomes we consider are involuntary exit, above–average employment growth, a return on assets of above 20 percent, new patent applications and participation in an innovation subsidy program. Our first key finding is that our models predict startup performance with either high or very high accuracy with the exception of high returns on assets where predictive power remains poor. Our second key finding is that the data requirements for predicting performance outcomes with such accuracy are low. To forecast the two innovation-related performance outcomes well, we only need to include a set of variables derived from the BPS texts while an accurate prediction of startup survival and high employment growth needs the combination of (i) information derived from the names of the startups, (ii) data on elementary founder-related characteristics and (iii) either variables describing the initial characteristics of the startup (to predict startup survival) or business purpose statement information (to predict high employment growth). These sets of variables are easily obtainable since the underlying information is mandatory to report upon business registration. The substantial accuracy of our predictions for survival, employment growth, new patents and participation in innovation subsidy programs indicates ample scope for algorithmic scoring models as an additional pillar of funding and innovation support decisions. |
| Keywords: | startup, performance, prediction, text as data |
| JEL: | L26 C53 |
| Date: | 2020–03 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp13029&r=all |
| By: | Amandine Maus (UM - Université de Montpellier, MRM - Montpellier Research in Management - UM1 - Université Montpellier 1 - UM3 - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier, Labex Entreprendre - UM - Université de Montpellier); Sylvie Sammut (UM - Université de Montpellier, MRM - Montpellier Research in Management - UM1 - Université Montpellier 1 - UM3 - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School - UM - Université de Montpellier, Labex Entreprendre - UM - Université de Montpellier) |
| Abstract: | This conceptual paper focuses on a review of the literature based on 61 articles. It shows the adjusted transferability of the business model tool resulting in the strategic guidance of public business incubators, particularly in terms of their search for new competitive advantage. By making use of dynamic capability theory, this study reveals that the entrepreneurial behavior of the public actors in business support has led them to rethink their business model. This model allows them to boost their performances in an industry that is becoming increasingly competitive thanks to the use of new opportunities. The originality of this research lies in its use of a tool traditionally devoted to businesses, the business model, for organizations for the most part financed through public funds, business incubators. |
| Keywords: | Business model,business incubators,dynamic capabilities |
| Date: | 2018–08–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02466175&r=all |
| By: | Röhe, Oke; Stähler, Nikolai |
| Abstract: | Since the mid-1970s, firm entry rates in the United States have declined significantly. This also holds for other OECD countries over the past years. At the same time, these economies experienced a gradual process of population aging. Applying a tractable life-cycle model with endogenous firm dynamics, we show that falling US firm entry rates can be explained by demographic transition. Specifically, our model simulations suggest that aging can account for up to one third of the observed decrease in US firm entry rates. In addition to the negative effects of a slowdown in working-age population growth on firm entry, our analysis points out that an increase in longevity may also be an important factor contributing to the decline in business dynamism, weighing on both firm entry and exit rates. |
| Keywords: | Life-Cycle model,Population aging,Business dynamism,Firm entry |
| JEL: | H25 L52 E20 E62 L10 O30 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:bubdps:152020&r=all |
| By: | David Carassus (CREG - Centre de recherche et d'études en gestion - UPPA - Université de Pau et des Pays de l'Adour); Yoann Queyroi (CREG - Centre de recherche et d'études en gestion - UPPA - Université de Pau et des Pays de l'Adour); Pierre Marin (CREG - Centre de recherche et d'études en gestion - UPPA - Université de Pau et des Pays de l'Adour); Christophe Maurel (GRANEM - Groupe de Recherche Angevin en Economie et Management - Institut National de l'Horticulture et du Paysage - AGROCAMPUS OUEST - UA - Université d'Angers); Christophe Favoreu (TBS - Toulouse Business School) |
| Date: | 2018–07–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02427653&r=all |
| By: | Abdelkader Baaziz (AMU - Aix Marseille Université, IMSIC - Institut mediterranéen des sciences de l'information et de la communication - AMU - Aix Marseille Université - UTLN - Université de Toulon) |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02480080&r=all |