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on Small Business Management |
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Issue of 2024‒09‒16
nineteen papers chosen by João Carlos Correia Leitão, Universidade da Beira Interior |
| By: | D’Alessandro, Francesco (Università Cattolica del Sacro Cuore); Santarelli, Enrico (University of Bologna); Vivarelli, Marco (Università Cattolica del Sacro Cuore) |
| Abstract: | In this paper we integrate the insights of the Knowledge Spillover Theory of Entrepreneurship and Innovation (KSTE+I) with Schumpeter's idea that innovative entrepreneurs creatively apply available local knowledge, possibly mediated by Marshallian, Jacobian and Porter spillovers. In more detail, in this study we assess the degree of pervasiveness and the level of opportunities brought about by AI technologies by testing the possible correlation between the regional AI knowledge stock and the number of new innovative ventures (that is startups patenting in any technological field in the year of their foundation). Empirically, by focusing on 287 Nuts-2 European regions, we test whether the local AI stock of knowledge exerts an enabling role in fostering innovative entry within AI-related local industries (AI technologies as focused enablers) and within non AI-related local industries, as well (AI technologies as generalised enablers). Results from Negative Binomial fixed-effect and Poisson fixed-effect regressions (controlled for a variety of concurrent drivers of entrepreneurship) reveal that the local AI knowledge stock does promote the spread of innovative startups, so supporting both the KSTE+I approach and the enabling role of AI technologies; however, this relationship is confirmed only with regard to the sole high-tech/AI-related industries. |
| Keywords: | KSTE+I, Artificial Intelligence, innovative entry, enabling technologies |
| JEL: | O33 L26 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17206 |
| By: | Harju, Jarkko; Juuti, Toni; Matikka, Tuomas |
| Abstract: | Using full-population data from Finland, we show that individuals at the top of the income distribution are significantly more likely to start new incorporated businesses compared to others. There is no similar selection based on parental income, but more than half of new entrepreneurs have entrepreneurial parents. Individual income gains from entrepreneurship are similar across different background characteristics, but parental entrepreneurship and personal income are positively linked to key firm-level outcomes such as productivity and job creation. This highlights the importance of the intergenerational transmission of entrepreneurial skills and suggests that businesses established by high-income individuals generate largest positive spillovers. |
| Keywords: | entrepreneurship, income mobility, inequality, productivity, Social security, taxation and inequality, Business taxation and regulation, L26, J24, J3, fi=Tulonjako ja eriarvoisuus|sv=Inkomstfördelning och ojämlikhet|en=Income distribution and inequality|, |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:fer:wpaper:168 |
| By: | Dirk Czarnitzki; Malte Prüfer |
| Abstract: | This paper investigates the impact of Public Procurement of Innovation (PPI) and Research and Development (R&D) grants on firms' R&D investment using data from Belgian R&D-active firms over the past decade. Our empirical analysis robustly reveals a non-negligible crowding-out effect between the two instruments, suggesting a substitutive relationship. While each policy individually positively influences R&D investment, their combined implementation diminishes their effectiveness. These results challenge prevailing evidence and emphasize the need for a careful policy implementation, raising policymakers’ awareness against a blanket increase in innovation policies without considering potential interactions. |
| Keywords: | Public procurement of innovation, Research and Development, Econometric policy evaluation, Crowding-out |
| Date: | 2024–08–14 |
| URL: | https://d.repec.org/n?u=RePEc:ete:ecoomp:746875 |
| By: | Natália Barbosa (School of Economics and Management, University of Minho) |
| Abstract: | The adoption of new digital technologies offers new opportunities and has the scope to engender positive effects on firms’ expansion and success in international markets. This paper examines the main factors driving the adoption of Artificial Intelligence (AI) and AI-related digital technologies that enable the Industry 4.0 transformation and whether these new generation of digital technologies affect exporting performance at firm level. Using a rich and representative sample of Portuguese firms over the period 2014-2020, the estimated results suggest that firm’s ex-ante performance, digital infrastructures and in-house ICT skills are the main drivers of digitalisation. However, conditional to ex-ante firm’s performance, there are heterogenous effects on exporting performance across digital technologies and across industries. Moreover, there is evidence of positive selection towards large firms, casting doubts on the inclusiveness of the adoption process and the performance effects of AI and AI-related technologies. |
| Keywords: | Artificial Intelligence, Industry 4.0 enabling digital technologies, firms’ exporting performance |
| JEL: | L20 H81 L25 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:mde:wpaper:183 |
| By: | Saïd Balhadj (ENCGT - Ecole Nationale de Commerce et de Gestion de Tanger - UAE - Abdelmalek Essaadi University [Tétouan] = Université Abdelmalek Essaadi [Tétouan]); Maryam EL MOUDDEN (ENCGT - Ecole Nationale de Commerce et de Gestion de Tanger - UAE - Abdelmalek Essaadi University [Tétouan] = Université Abdelmalek Essaadi [Tétouan]) |
| Keywords: | innovation organisationnelle l'avantage compétitif performance organisationnelle PME exportatrice marocaine Classification JEL : O31 Organizational innovation competitive advantage organizational performance Moroccan-exporting SMEs JEL Classification: O31 Paper type: Empirical research, innovation organisationnelle, l'avantage compétitif, performance organisationnelle, PME exportatrice marocaine, competitive advantage, organizational performance, Moroccan-exporting SMEs |
| Date: | 2022–09–30 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04653608 |
| By: | Yassin Allammari (Management Finance Digitization and Applied Statistics Research Laboratory, Faculty of Legal, Economic, and Social Sciences, Abdelmalek Essaadi University, Tétouan, Morocco.); Jaride Chama (Management Finance Digitization and Applied Statistics Research Laboratory, Faculty of Legal, Economic, and Social Sciences, Abdelmalek Essaadi University, Tétouan, Morocco.); Ahmed Taqi (Management Finance Digitization and Applied Statistics Research Laboratory, Faculty of Legal, Economic, and Social Sciences, Abdelmalek Essaadi University, Tétouan, Morocco.); siraj el Aaroubi (Management Finance Digitization and Applied Statistics Research Laboratory, Faculty of Legal, Economic, and Social Sciences, Abdelmalek Essaadi University, Tétouan, Morocco.) |
| Abstract: | Abstract Entrepreneurial Orientation Has Become A Crucial Topic In Management And Entrepreneurship, As It Determines Smes' Ability To Innovate, Seize Opportunities, And Take Calculated Risks. This Managerial Practice Has Been Identified In Recent Literature As A Key Factor In Developing The Competitiveness And Performance Of Smes In Uncertain And Ever-Evolving Environments. Therefore, This Study Aims To Create Co-Citation Maps To Identify The Most Influential Articles And Term Networks To Understand The Main Concepts And Themes Addressed In The Literature On The Entrepreneurial Orientation Of Smes. To Achieve This, A Sample Of 415 Relevant Publications From The SCOPUS Database Was Analyzed Using Vosviewer Software To Extract The Bibliographic Data Required For Our Analysis. Our Results Reveal Some Interesting Findings. We Observe A Significant Growth In The Number Of Publications On This Topic Over Time, Reflecting The Increasing Interest In Entrepreneurial Orientation Within Smes. Furthermore, We Identify Key Authors, Journals, And Concepts That Dominate The Research Field. Finally, We Discuss The Implications Of Our Findings For Future Research In This Area And Suggest Avenues For Further Studies. |
| Abstract: | L'orientation entrepreneuriale est devenue un sujet crucial en management et en entrepreneuriat, car elle détermine la capacité des PME à innover, à saisir des opportunités et à prendre des risques calculés. La littérature récente identifie cette pratique managériale comme un facteur clé pour développer la compétitivité et la performance des PME dans des environnements incertains et en constante évolution. Par conséquent, cette étude vise à créer des cartes de co-citation pour identifier les articles les plus influents et des réseaux de termes pour comprendre les principaux concepts et thèmes abordés dans la littérature sur l'orientation entrepreneuriale des PME. Pour ce faire, un échantillon de 415 publications pertinentes de la base de données SCOPUS a été analysé à l'aide du logiciel VOSviewer pour extraire les données bibliographiques nécessaires à notre analyse. Nos résultats révèlent des conclusions intéressantes. Nous observons une croissance significative du nombre de publications sur ce sujet au fil du temps, reflétant l'intérêt croissant pour l'orientation entrepreneuriale au sein des PME. De plus, nous identifions les auteurs, les revues et les concepts clés qui dominent le domaine de recherche. Enfin, nous discutons des implications de nos résultats pour les recherches futures dans ce domaine et suggérons des pistes pour des études ultérieures. |
| Keywords: | Bibliometric Analysis, Entrepreneurial Orientation, Smes, Vosviewer, Scopus, African Scientific Journal |
| Date: | 2024–07–30 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04665136 |
| By: | KOUAKOU, Dorgyles C.M. |
| Abstract: | Using firm-level data from the World Bank Enterprise Surveys, covering 159 countries from 2006 to 2023, we examine whether past informality affects the credit constraints of registered firms. Estimations, based on the entropy balancing method, indicate that registered firms that began operations informally are more likely to be credit-constrained than those that started in the formal sector. This finding is extremely robust to a variety of robustness tests, including instrumental variables, propensity score matching, potential omitted variables, restricted samples, alternative measures of credit constraints, and different specifications such as Linear Probability, Logit, and Probit models. Heterogeneity analysis reveals that the detrimental impact of past informality lessens with firm size, firm age, and better structural factors like regulatory quality, trade openness, entrepreneurial dynamism, and public spending. Productivity, competition from the informal sector, and the quality of financial statements are key channels through which past informality increases credit constraints for registered firms. |
| Keywords: | Past informality status; Credit constraints; Entropy balancing |
| JEL: | G20 O12 O16 O17 |
| Date: | 2024–08–19 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121766 |
| By: | Giacomo Damioli; Vincent Van Roy; Daniel Vertesy; Marco Vivarelli |
| Abstract: | Artificial intelligence (AI) is emerging as a transformative innovation with the potential to drive significant economic growth and productivity gains. This study examines whether AI is initiating a technological revolution, signifying a new technological paradigm, using the perspective of evolutionary neo-Schumpeterian economics. Using a global dataset combining information on AI patenting activities and their applicants between 2000 and 2016, our analysis reveals that AI patenting has accelerated and substantially evolved in terms of its pervasiveness, with AI innovators shifting from the ICT core industries to non-ICT service industries over the investigated period. Moreover, there has been a decrease in concentration of innovation activities and a reshuffling in the innovative hierarchies, with innovative entries and young and smaller applicants driving this change. Finally, we find that AI technologies play a role in generating and accelerating further innovations (so revealing to be “enabling technologies”, a distinctive feature of GPTs). All these features have characterised the emergence of major technological paradigms in the past and suggest that AI technologies may indeed generate a paradigmatic shift. |
| Keywords: | Artificial Intelligence, Patents, Structural Change, Technological Paradigm |
| Date: | 2024–08–14 |
| URL: | https://d.repec.org/n?u=RePEc:ete:msiper:746877 |
| By: | April Burrage; Nilanjana Dasgupta; Ina Ganguli |
| Abstract: | This study examines gender differences in the social impact and commercial motives for academic entrepreneurship using the National Science Foundation's Innovation Corps (NSF I-Corps) program. I-Corps provides experiential entrepreneurship training to faculty and graduate student researchers at local I-Corps university sites and through a nationwide program. Since the inception of I-Corps, only 20% of participants have been women. We first use survey data from one I-Corps university site to show that women participants had higher social entrepreneurial intentions compared to commercial entrepreneurial intentions, and these social entrepreneurial intentions were higher than men’s. We then extend and generalize this finding by analyzing 1, 267 publicly available project summaries from the National I-Corps Program from 2012-2019. We find that women PIs’ I-Corps project proposals emphasized social impact significantly more than men PIs, while projects for all PIs emphasized commercial impact to a similar degree. We next ran a field experiment to estimate the causal impact of social impact vs. commercial motives by experimentally manipulating the recruitment email messages inviting researchers to participate in the I-Corps training program. We find that women were more likely to show interest in a social impact version of a message compared to a commercial version, while men showed equal interest in both types of messages. Taken together, our results indicate that women are more interested in pursuing commercialization and entrepreneurship activities when they are tackling societal problems. They suggest that low-cost interventions that emphasize the social impact value of entrepreneurial opportunities may increase gender diversity in entrepreneurship activities. |
| JEL: | J16 L26 O31 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:32885 |
| By: | Schito, Marco; Klimavičiūtė, Luka; Pál, Rozália |
| Abstract: | Does increasing inflation affect firms' investment decisions? This article employs the European Investment Bank Investment Survey (EIBIS) dataset to explore the association between the increased inflation that the EU countries have experienced since 2021, and firms' investment decisions. We find evidence that very high rates of inflation (over 20%) are associated with higher probabilities of investment, likely driven by measures to improve energy efficiency (particularly for SMEs) and a desire to avoid the devaluation of cash reserves (for large firms). We further find a positive association between SMEs' ability to pass costs onto consumers (the so-called pass-through rate) and investment decision, suggesting a higher degree of reliance on the generation of continuous revenues for investment purposes compared with large firms. Inflation's by-products (increased interest rates, difficulties in accessing external financing, increasing uncertainty) are found to be important negative factors in investment decisions. (146 words) |
| Keywords: | EIBIS, inflation, investment, cost pass-through rate, financial tightening, SMEs |
| JEL: | D22 D25 E31 E43 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:eibwps:301874 |
| By: | Astebro, Thomas B. (HEC Paris); Fossen, Frank M. (University of Nevada, Reno); Gutierrez, Cédric (Bocconi University) |
| Abstract: | Entrepreneurship scholars are interested in understanding and describing how entrepreneurs make decisions under uncertainty, where the probabilities of outcomes are not known but perceived, resulting in ambiguous probabilities. In this context, ambiguity refers to the lack of precise and objective probability assessments and the presence of subjective judgments regarding potential outcomes. In this chapter, we discuss the development of thought on how entrepreneurs perceive and react to uncertainty from Frank Knight (1921) to the present day. Recognizing that entrepreneurs face uncertainty rather than risk and are unlikely to have estimates of all probabilities for all potential outcomes, it becomes difficult to accept Expected Utility Theory (EUT), developed by Savage (1951) and von Neumann and Morgenstern (1953), as a relevant model for entrepreneurial decision-making. We examine a range of decision theories, ranking them in an order starting from EUT and proceeding to the most structure-free models of entrepreneurial choice, allowing for comparisons and contrasts of the main components and underlying concepts as they apply to entrepreneurial decision making. |
| Keywords: | entrepreneurship, uncertainty, ambiguity, decision theory, Bayesian Entrepreneurship |
| JEL: | L26 J24 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17231 |
| By: | Felipe A. Csaszar; Harsh Ketkar; Hyunjin Kim |
| Abstract: | This paper explores how artificial intelligence (AI) may impact the strategic decision-making (SDM) process in firms. We illustrate how AI could augment existing SDM tools and provide empirical evidence from a leading accelerator program and a startup competition that current Large Language Models (LLMs) can generate and evaluate strategies at a level comparable to entrepreneurs and investors. We then examine implications for key cognitive processes underlying SDM -- search, representation, and aggregation. Our analysis suggests AI has the potential to enhance the speed, quality, and scale of strategic analysis, while also enabling new approaches like virtual strategy simulations. However, the ultimate impact on firm performance will depend on competitive dynamics as AI capabilities progress. We propose a framework connecting AI use in SDM to firm outcomes and discuss how AI may reshape sources of competitive advantage. We conclude by considering how AI could both support and challenge core tenets of the theory-based view of strategy. Overall, our work maps out an emerging research frontier at the intersection of AI and strategy. |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2408.08811 |
| By: | Machteld Hoskens; Koenraad Debackere |
| Abstract: | Given the importance of innovation for economic growth, many countries conduct innovation surveys. International guidelines for such measurement have been established (OECD/Eurostat, 2018). The European Commission has made the measurement of innovation mandatory for EU member states. Many differences remain, however, between countries in the practical implementation of measuring innovation at the firm level, which complicates cross-country comparability. We conducted a randomized experiment in which we randomly assigned enterprises a long or a short form for measuring their innovation activities. We found clear differences between the two types of forms. We discuss implications of this work and put this in the broader perspective of other work done investigating questionnaire design issues in innovation surveys. |
| Keywords: | questionnaire design, innovation survey, randomized experiment, questionnaire length, shortened survey form, nonresponse survey |
| Date: | 2024–08–19 |
| URL: | https://d.repec.org/n?u=RePEc:ete:ecoomp:747238 |
| By: | Julia Schmidt; Graham Pilgrim; Annabelle Mourougane |
| Abstract: | By combining information from online job postings with firm-level financial data provided by Orbis, as well as firm-level merchandise trade data, this paper seeks to get a deeper understanding of the characteristics and performance of data-intensive firms in the United Kingdom since 2015. Data-intensive firms are defined here as firms which are hiring data-related skills. One key contribution of the analysis is to match in a more efficient way the two data sources, Lightcast and Orbis, which are now used extensively in the economic literature. Both the number and the share of data-intensive firms increased sharply in the United Kingdom from 2015 to 2021, with a peak in 2020. The number of highly data-intensive companies and data-intensive multinationals (MNEs) display the same pattern. A large share of data-intensive firms operate within the information and communication industry and are predominantly located in the Greater London area, especially in London itself. Those firms tend to employ more staff and are more capitalised than non data-intensive firms. They are on average more productive, generate more revenues and trade more in foreign markets. While data-intensive firms can be found in all firm size groups, the firms displaying on average the highest level of data intensity were medium sized in 2015 but are now small sized. In terms of international trade, UK dataintensive firms are, generally, more export intensive than non data-intensive firms, but estimates vary across industries. |
| Date: | 2024–09–05 |
| URL: | https://d.repec.org/n?u=RePEc:oec:stdaaa:2024/07-en |
| By: | Churchill, Sefa Awaworyi (RMIT University); Chang, Simon (University of Western Australia); Smyth, Russell (Monash University); Trinh, Trong-Anh (World Bank) |
| Abstract: | This paper extends prior theory linking present-day sex ratios to present-day propensity for entrepreneurship among men backward in time to explore the long-run gender origins of entrepreneurship. We argue that present-day propensity for entrepreneurship among men will be higher in neighbourhoods which had historically high sex ratios. We propose that high sex ratios generate attitudes and behaviours that imprint into cultural norms about gender roles and that vertical transmission within families create hysteresis in the evolution of these gender norms. To empirically test the theory, we employ the transport of convicts to the British colonies of New South Wales and Van Diemen's Land in the eighteenth and nineteenth centuries as a natural experiment to examine the long-run effect of gender norms on entrepreneurship in present-day Australia. We use a representative longitudinal dataset for the Australian population that provides information on the neighbourhood in which the participant lives, which we merge with data on the sex ratio in historical counties from the mid-nineteenth century. We find that men who live in neighbourhoods which had high historical sex ratios have a higher propensity for entrepreneurship. We present evidence consistent with the vertical transmission of gender norms within families being the likely mechanism. Arguments for policies to promote female entrepreneurship are typically couched in terms of gender norms representing a barrier to more women starting their own business. We present evidence consistent with gender norms contributing to gender differences in rates of entrepreneurship by being a spur for higher male entrepreneurship rather than a barrier to female entrepreneurship. |
| Keywords: | gender norms, sex ratios, entrepreneurship, Australia |
| JEL: | I31 J21 J22 N37 O10 Z13 Z18 |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17170 |
| By: | Dogan, Aydan (Bank of England); Hjortsoe, Ida (Bank of England) |
| Abstract: | Through what channels do fluctuations in the financial costs of exporting affect exports, and how important are financial conditions for export dynamics over the business cycle? We first establish, using balance sheet data for UK manufacturing firms, that exporting firms have more short-term liabilities than non-exporting firms. We find evidence consistent with exporting firms taking on these short-term loans to (partly) cover labour costs. We then build a model with heterogeneous firms in which exporters need to access external finance to export, in line with the evidence, and parameterise it to UK data. We use rich firm level data to inform the calibration of the financial costs facing exporting firms, and estimate the shock processes in our model with Bayesian methods. Our estimations show that global shocks to the financial costs of exporting are the main driver of UK export dynamics over the business cycle, alongside shocks to productivity. These two shocks each contribute to around a third of UK export dynamics. Moreover, we find that global shocks to the financial costs of exporting played a crucial role in explaining the fall in UK exports in the early stages of the Global Trade Collapse, and slowed the recovery. |
| Keywords: | Open economy macroeconomics; small open economy; exports; trade finance; heterogeneous firms |
| JEL: | F41 F44 F47 |
| Date: | 2024–08–05 |
| URL: | https://d.repec.org/n?u=RePEc:boe:boeewp:1072 |
| By: | Ackah, Charles; Görg, Holger; Hanley, Aoife; Hornok, Cecilia |
| Abstract: | While the recent success of Africa’s ‘Lionesses’ – successful female entrepreneurs – is internationally celebrated, less is known about how liquidity can fuel the success of the ‘Lionesses’ and other businesswomen. Using information from a panel of over 800 male- and female-owned businesses in Ghana (ISSER-IGC survey), we capture a measure of underfunding, in addition to data on supplier credit, equity and other finance sources. Our regressions reveal a female-to-male productivity gap of between − 11 and − 19 per cent, values similar to estimates for other African countries. However, when financial constraints are taken into account, the gender performance gap disappears. Accordingly, female business owners who indicate that funding is not a problem are associated with higher productivity than males, all things equal. In a finding new to the literature, our regressions reveal the importance of supplier credit for Africa’s businesswomen. |
| Keywords: | Female-owned businesses, Liquidity, Productivity, Supplier credit, Africa, Ghana |
| JEL: | D22 J16 L26 |
| Date: | 2023 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ifwkie:301879 |
| By: | Neifar, Malika |
| Abstract: | Purpose: The scope of this paper is to see if the aggregate information and communications technology index (ICT) drives firm performance (profitability and efficiency) for BRICS countries from a des-aggregate panel data of the firm-yearly level (by country) during 2014-2022, from an aggregate monthly time series data and a panel data of country-monthly level during 2014-01-2014-12, all covering the Covid outbreak event. Design/methodology/approach: Through static and dynamic long-run (LR) panel models, the Bayesian VAR-X short-run (SR) approach, and the time series and the panel (LR and SR) ARDL models, we investigate the stability of the linkage between firm performance and the aggregate ICT vis à vis the Covid outbreak. Findings: Using an international sample of 316 FinTech firms from BRICS countries, we find that ICT mechanisms on their own are in general negatively associated with firm performance (profitability and efficiency) with some exceptions. We also find that the ICT and the firm-performance relationship is more significant among countries with respect to the considered pre ou post Covid 19 outbreak period. Originality: The novelty of this research is based on the idea of studying the effect of the aggregate ICT on firm performance by using several dynamic approaches so that we can estimate the SR adjustments that arise from the impact of ICT to the LR relationship. |
| Keywords: | FinTech Firm performance and ICT; BRICS area; Dynamic Panel Regressions and GMM for firm level panel data; Bayesian VAR-X and ARDL models for TS data; PARDL for macro panel data; Covid 19 outbreak |
| JEL: | C11 C22 C23 O33 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121772 |
| By: | Ruiting Wang; Xue Wang; Gang Xu; Tao Zha |
| Abstract: | We estimate the effects of privatization on zombie versus healthy state-owned enterprises (SOEs) in China, extending our analysis beyond TFP to a broad array of financial and economic indicators. Privatizing zombie SOEs enhances labor productivity and TFP, reduces bank and government subsidies, alleviates leverage and administrative expenses, improves liquidity, boosts profits, and accelerates sales growth. These benefits are more pronounced than for healthy SOEs and are robust across regions and industries. Our findings offer policy implications for emerging markets, suggesting that prioritizing the privatization of underperforming, zombie-like entities can lead to substantial economic improvements and greater efficiency. |
| JEL: | D22 L21 L33 P31 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:32795 |