|
on Small Business Management |
|
Issue of 2026–02–02
twenty-six papers chosen by João Carlos Correia Leitão, Universidade da Beira Interior |
| By: | FUKAO, Kyoji; KIM, YoungGak; KWON, Hyeog Ug |
| Abstract: | This study examines the dynamics of total factor productivity (TFP) by firm size to clarify the recent drivers of productivity growth in the Japanese economy, utilizing firm-level financial data from Teikoku Databank (TDB) spanning the years 1999 to 2020. In particular, we examine Japan’s distinctive “negative exit effect” by differentiating among various types of firm exit, including bankruptcy, closure, dissolution, and mergers. Our analysis shows that while within-firm productivity improvements at large firms played a dominant role in driving productivity growth through the 2000s, reallocation effects have become increasingly important since the 2010s. Notably, a substantial share of high-productivity firms exited the market through mergers, accounting for nearly half of the overall negative exit effect. Furthermore, while TFP among acquiring firms tends to stagnate in the short term after mergers, their labor productivity shows a significant and sustained increase, likely driven by capital deepening. These findings provide new insights into the shifting drivers of productivity growth in Japan—from within-firm productivity growth to market-driven resource reallocation—as well as into firm-size heterogeneity and the role of mergers in shaping productivity dynamics. |
| Keywords: | productivity dynamics, firm size heterogeneity, negative exit effect, mergers and acquisitions, resource reallocation, total factor productivity, SMEs, Japan |
| JEL: | O47 D24 L25 O53 G34 |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:hit:tdbcdp:e-2025-03 |
| By: | Evguenia Bessonova (Bank of Russia, HSE University, Russian Federation); Svetlana Popova (Bank of Russia, Russian Federation); Konstantin Styrin (Bank of Russia, NES, Russian Federation) |
| Abstract: | We study the effect of the participation in a subsidized lending program on economic outcomes of small and medium-sized enterprises (SMEs) in Russia. The estimated effect on sales and employment is statistically and economically significant and robust. The annual growth of sales increases by 10.7-11.4 p.p. and of employment by 4-7 p.p. The effect on profits is sizeable but not robust, being very sensitive to the way the control sub-sample is constructed. |
| Keywords: | Firm dynamics; Small and medium-sized enterprises; Subsidized lending; Loan guarantee programs |
| JEL: | D22 G38 L25 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:bkr:wpaper:wps140 |
| By: | Arrighetti, Alessandro; Foresti, Giovanni; Fumagalli, Serena; Giusti, Sara; Lasagni, Andrea |
| Abstract: | This paper challenges the widespread assumption that migrant-owned firms inevitably suffer from persistent performance disadvantages due to structural liabilities. Using a matched-sample design based on firm-level administrative data for the period 2019–2023, we compare migrant- and native-owned enterprises across multiple performance dimensions, including value added, sales, total assets, and employment growth. While descriptive statistics confirm migrant-owned firms’ lower capital intensity and value added levels, our regression estimates reveal no evidence of a systematic performance disadvantage associated with the Liability of Foreignness (LoF). Moreover, when LoF and other liabilities (Liability of Newness, LoN, and Liability of Smallness, LoS) are jointly considered, interaction effects are either neutral or positive. In particular, young migrant firms (LoF × LoN) and micro-sized migrant firms (LoF × LoS) often outperform native-owned enterprises’ in growth indicators. These results seem to suggest that eventual disadvantages caused by the Liability of Foreignness can be offset by some strategic assets, such as transnational networks, flexibility, and adaptive capabilities, that usually characterized migrant-owned firms. The findings contribute to a more context-sensitive understanding of migrant entrepreneurship, with implications for both theory and policy. |
| Keywords: | Migrant entrepreneurship, Native firms, Liability of Foreignness, Liability of Newness, Liability of Smallness, Growth, Performance, Matched-pair Analysis |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:335547 |
| By: | Ali, Amjad; Afzal, Muhammad Bilal; Ahmad, Khalil |
| Abstract: | This study investigates how market concentration, specifically, the degree of competition within a sector impacts different innovation strategies, with particular emphasis on the distinction between long-term and short-term innovation approaches adopted by corporations. The research utilizes a dataset comprising an unbalanced panel of U.S based firms. To generate robust and valid conclusions, the analysis incorporates a suite of statistical and econometric methodologies, such as regression analysis, multicollinearity diagnostics, tests for endogeneity, and comprehensive robustness assessments. These tools are employed to examine the connection between market concentration, measured by the Herfindahl-Hirschman Index, and the innovation horizon, defined as the interval between initial research and development investments and the attainment of innovative outcomes. Furthermore, the robustness analyses confirm the reliability of the findings across various modeling specifications, providing empirical evidence that heightened market concentration correlates significantly with a reduced innovation horizon. The results reveal that firms operating in markets characterized by high concentration are inclined toward short-term innovation strategies, likely as a result of intense competitive dynamics among a limited number of dominant players striving to retain market share. These insights advance the understanding of how market structure shapes the strategic timing of innovation within firms, yielding important implications for innovation policy as well as managerial decision-making. |
| Keywords: | Market Competition, Innovation Horizon, Firm Innovation, Herfindahl-Hirschman Index |
| JEL: | M13 O3 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:127526 |
| By: | Chifae El Hail (el jadida - National School of Commerce and Management, Chouaib Doukkali University); Mustapha El Koraichi (el jadida - National School of Commerce and Management, Chouaib Doukkali University) |
| Abstract: | Purpose: This paper aims to explore the customer relationship management (CRM) strategies adopted by Family Small and Medium Entreprises (SME), while highlighting the impact of their characteristics and their assets on the choice and the adoption of these CRM strategies. Methodology: Since the unique case study approach allows in-depth, multi-faceted explorations of complex issues, we opted for it as a research strategy in order to develop a detailed understanding of the problem. Therefore, an in-depth case study was carried out within a small and medium family business in Morocco. Findings: Through this study, we have highlighted causal links between the characteristics and specificities of the family SMEs and their impacts on the adoption and implementation of CRM tools and strategies. While some characteristics linked to the nature of family SMEs such as participatory management style, familiness, the desire to transmit the business to future generations and proximity to customers constitute assets for the implementation of CRM, other characteristics, such as the desire to maintain financial independence and recruitment policies that are most often in favor of family members despite their competence, can negatively influence the implementation of successful CRM projects. Implications for Theory and Practice: The results of the present paper allow the authors to draw conclusions that are relevant to both academics and practitioners. As for the theoretical implications, this study highlights the relationship between the characteristics of family SMEs and the choice and implementation of CRM strategies, while relying on their strengths. Furthermore, developing a good understanding of the specificity of CRM adoption and implementation approaches within family SMEs has important managerial implications for family SME decision-makers, as it can help them make better decisions regarding the choice of relevant CRM strategies and to optimize the deployment of available human, financial and technological resources, while relying on their socio-emotional wealth and their motivation to perpetuate the company. Originality: This paper is one of the first to explore CRM strategies adopted by family SMEs. The authors present a conceptual framework that can help researchers and practitioners better understand how the family business nature can influence decisions about CRM tools and strategies implementation. |
| Keywords: | Case Study, Knowledge Transfer, Sustainability, Socio Emotional Wealth, Family Entrepreneurship, Relationship Marketing, CRM Strategies |
| Date: | 2024–04–03 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05267367 |
| By: | Pierre Cahuc (ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique, IZA - Forschungsinstitut zur Zukunft der Arbeit - Institute of Labor Economics, CEPR - Center for Economic Policy Research); Stéphane Carcillo (OCDE / OECD - Organisation de Coopération et de Développement Economiques = Organisation for Economic Co-operation and Development, ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique); Bérengère Patault (UvA - Universiteit van Amsterdam = University of Amsterdam); Flavien Moreau (International Monetary Fund (IMF)) |
| Abstract: | This paper documents the existence of judge-specific differences on granting compensation for wrongful dismissal and shows that their consequences are different for small low-performing firms than for other firms. Pro-worker judge bias reduces job creation for all firms, increases the destruction of permanent jobs in small and low-performing firms but reduces it in large high-performing firms. Pro-worker bias reduces employment and survival for small and low-performing firms but has no significant effects on these outcomes for the other firms. The probability that permanent incumbent workers keep their job in firms judged by a pro-worker judge increases in large and high-performing firms, while it decreases in small, poorly performing firms. |
| Keywords: | Employment, Firm survival, Judge bias, Dismissal compensation |
| Date: | 2024–06–06 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05446842 |
| By: | Giulio Valerio Corbelli (Department of Economics and Management, University of Ferrara) |
| Abstract: | This study provides a comprehensive bibliometric analysis of the academic literature on sustainable startups, mapping the evolution, structure, and thematic orientation of the field in the decade following the introduction of the United Nations Sustainable Development Goals (SDGs). Using a dataset of 984 peer-reviewed journal articles indexed in Scopus between 2015 and 2025, the analysis combines descriptive indicators with network-based techniques, including co-citation, co-authorship, and keyword co-occurrence analyses. The results reveal a sharp and sustained growth in scholarly attention to sustainable startups, accompanied by increasing geographic diversification and interdisciplinary engagement within the social sciences. While publication output is concentrated in a limited number of countries and journals—most notably sustainability-oriented and energy-focused outlets—the intellectual structure of the field is organized around six main thematic clusters, spanning entrepreneurial ecosystems, eco-innovation and circular economy, sustainable business models, digitalization, energy and climate change, and social responsibility. A small number of highly influential authors and research groups play a central bridging role, facilitating knowledge diffusion across otherwise fragmented research streams. Beyond documenting publication trends, this bibliometric mapping clarifies the conceptual boundaries of sustainable startup research and highlights persistent gaps, particularly the limited integration of sustainability-oriented startups into core entrepreneurship theory and the lack of standardized approaches to measuring environmental and social impact. By explicitly acknowledging the trade-offs inherent in bibliometric indicators— especially with respect to journal reputation and non-measurable qualitative dimensions—this study positions bibliometrics as a complementary tool for framing and contextualizing empirical research rather than as a normative evaluation of scientific quality. Overall, the findings depict a rapidly maturing research field in which sustainable startups are increasingly recognized as key agents of systemic transition, linking innovation, entrepreneurship, and sustainability. The study offers a structured and replicable overview that informs future theoretical development and empirical investigation in sustainability-oriented entrepreneurship. |
| Keywords: | Sustainable startups; Sustainable entrepreneurship; Bibliometric analysis; Circular economy; Sustainable business models; Innovation; SDGs |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:srt:wpaper:0226 |
| By: | Sergio Queiroz; Nicholas Vonortas; Otaviano Canuto |
| Abstract: | Brazil went from a quite impressive economic performance during much of the twentieth century to a period of mediocre growth from 1980 onwards. This shift has positioned the country as a textbook case of the “middle-income trap”. This paper aims to demonstrate how certain transformations in the international economy since the 1980s—notably the globalization of firms and industries—combined with a set of domestic challenges, disrupted the path of industrial and technological development that Brazil had pursued since the 1930s. In essence, growth strategies based on the scale of the domestic market ceased to be effective. The innovation and economic challenges the country now faces cannot be addressed without a clear understanding of these processes. The analysis carries important policy implications, centered on the need for less protectionism and greater internationalization of firms. Reversing the inward-looking orientation of Brazilian industry is a key objective for any policy aiming to stimulate increased business R&D and innovation. |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rtrade:springer_01-25 |
| By: | Iñaki Aldasoro; Leonardo Gambacorta; Rozalia Pal; Debora Revoltella; Christoph Weiss; Marcin Wolski |
| Abstract: | This paper provides new evidence on how the adoption of artificial intelligence (AI) affects productivity and employment in Europe. Using matched EIBIS-ORBIS data on more than 12, 000 non-financial firms in the European Union (EU) and United States (US), we instrument the adoption of AI by EU firms by assigning the adoption rates of US peers to isolate exogenous technological exposure. Our results show that AI adoption increases the level of labor productivity by 4%. Productivity gains are due to capital deepening, as we find no adverse effects on firm-level employment. This suggests that AI increases worker output rather than replacing labor in the short run, though longer-term effects remain uncertain. However, productivity benefits of AI adoption are unevenly distributed and concentrate in medium and large firms. Moreover, AI-adopting firms are more innovative and their workers earn higher wages. Our analysis also highlights the critical role of complementary investments in software and data or workforce training to fully unlock the productivity gains of AI adoption. |
| Keywords: | artificial intelligence, firm productivity, Europe, digital transformation |
| JEL: | D22 J24 L25 O33 O47 |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:bis:biswps:1325 |
| By: | Ahmad, Mustajab; Audi, Marc; Ahmad, Khalil |
| Abstract: | This study investigates how tax policies affect small and medium enterprises in developing countries between 2005 and 2023. Panel data regression analysis is employed to examine how performance indicators such as revenue growth, employment generation, and formalisation processes are linked to tax rates, costs associated with complying with value-added tax, the structure of value-added tax, incentive mechanisms, levels of informality, and the quality of public services. The results show that higher rates of tax compliance and effective tax rates negatively influence the performance of small and medium enterprises, supporting the resource-based view theory, which holds that such enterprises are more adversely impacted by tax burdens due to their limited resources. In contrast, tax incentives have a strong positive effect, while informality has a significant negative impact. Through this study, fiscal exchange theory is validated in the context of developing countries, indicating that small and medium enterprises are more likely to comply with tax regulations when they perceive public services to be of high quality. The analysis integrates data from multiple countries and draws on classical economic theory and institutional theory. The key policy implications explain that developing countries should simplify tax systems, design targeted incentives, and adopt digital mechanisms to enhance the competitiveness of small and medium enterprises while addressing informality. The study addresses gaps in the literature related to taxation in developing economies and guides policymakers seeking to strengthen the role of small and medium enterprises in promoting economic growth and employment. |
| Keywords: | Small and Medium Enterprises, Tax Policy, Informality, Developing Economies |
| JEL: | H3 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:127564 |
| By: | Pierre Cahuc (ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique, IZA - Forschungsinstitut zur Zukunft der Arbeit - Institute of Labor Economics, CEPR - Center for Economic Policy Research); Marco G Palladino (Banque de France) |
| Abstract: | This paper provides a review of the existing literature on the effects of employment protection legislation (EPL) on job allocation across industries, firms, and workers, and its implications for innovation and economic growth. We analyze empirical studies to assess how EPL influences resource allocation, firm dynamics, and labor market segmentation. The review highlights the heterogeneous effects of EPL on different firms and workers' groups. Additionally, we discuss the channels identified in the structural literature through which EPL-induced job reallocation affects productivity, innovation, and overall growth. While existing evidence demonstrates the significant influence of EPL on all these outcomes, further quantification of these effects remains a research challenge. |
| Keywords: | innovation, productivity, economic growth, job allocation, job protection |
| Date: | 2024–12–10 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05446770 |
| By: | Gert Bijnens (National Bank of Belgium, Research Department); Sam Desiere (Ghent University, Belgium); Rigas Oikonomou (IRES/LIDAM, UCLouvain, Belgium); Tiziano Toniolo (IRES/LIDAM, Uclouvain, Belgium); Bruno Van der Linden (IRES/LIDAM, UCLouvain, Belgium and IZA, CESifo, Germany) |
| Abstract: | Belgium’s 2016 payroll tax exemption for first-time employers triggered a sharp increase in firms hiring their first worker but little growth among larger firms. To account for this pattern, we develop and estimate a directed search model—with discrete hiring, firm heterogeneity, and endogenous entry— using Belgian microdata. The exemption reduces the high marginal cost of the first hire, enabling many previously non-hiring entrepreneurs to become employers, but most lack the productivity needed to expand beyond one worker. The model matches the post-reform size distribution and identifies the conditions under which size-dependent hiring subsidies can foster sustained firm growth. |
| Keywords: | payroll taxes; size-dependent policies; hiring frictions; wage subsidies; competitive search theory. |
| JEL: | H25 J08 J23 J38 L25 |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:nbb:reswpp:202601-487 |
| By: | Ambate, Vicky Armando |
| Abstract: | Research on export performance has extensively examined the roles of export orientation, global networks, and dynamic capabilities in enhancing firms’ export outcomes, particularly among small and medium-sized enterprises (SMEs). However, existing studies largely rely on direct-effect approaches and provide limited explanation of the internal mechanisms through which external resources and organizational capabilities are transformed into export performance. Moreover, the literature tends to treat global mindset, strategic cognition, and export orientation as separate constructs, resulting in fragmented insights and inconsistent empirical findings. Addressing these gaps, this study proposes the development and empirical examination of Global Export Strategic Mindset (GESM) as a conceptually derived construct that functions as a strategic mechanism linking global network and global dynamic capability to export performance. GESM is conceptualized as a cross-level strategic capability that integrates managerial global perspective, strategic cognitive processing, and organizational commitment to exporting. Operationally, GESM is modeled as a higher-order construct comprising three dimensions: Global Strategic Cognition, Strategic Export Commitment, and Global–Local Strategic Integration. This study adopts a quantitative, explanatory research design. Data are planned to be collected through a survey of exporting SMEs in Indonesia and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) to examine the proposed structural relationships and the mediating role of GESM. The proposed research is expected to contribute to export performance and internationalization literature by providing a mechanism-based explanation of how global resources and capabilities are converted into effective export strategies, while offering practical insights for strengthening the strategic capacity of SMEs in emerging economies. |
| Date: | 2026–01–15 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:twxbk_v1 |
| By: | Iacopo Varotto (BANCO DE ESPAÑA) |
| Abstract: | I study how firms’ defensive investments affect aggregate total factor productivity in a general-equilibrium model where incumbents invest both to raise productivity and to deter entry or imitation; entry occurs either by new firms into existing markets or by leading firms in entirely new product lines. Calibrating the model to US firm size, productivity, and market share distributions, I find that cracking down on defensive investments increases TFP by 1.9 percent, about three-quarters of which reflects higher technical efficiency, driven mainly by improved firm-level productivity. This gain is substantially offset by reduced product variety; absent this loss, the TFP effect would be more than four times as large. Profit taxes targeted at high-productivity leaders – those most prone to block imitation – can stimulate frontier innovation while limiting variety losses. Firm-level US evidence supports these mechanisms. |
| Keywords: | defensive investment, total factor productivity, firm dynamics, competition policy |
| JEL: | E22 D23 D43 L11 L13 L60 O33 O43 |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:bde:wpaper:2601 |
| By: | Bijnens, Gert; Konings, Jozef; Putseys, Aaron |
| Abstract: | This paper identifies a firm-level Productivity J-curve induced by intangible investments. Using novel microdata on business-to-business transactions for Belgian firms, we construct a comprehensive measure of intangible investment covering software, R&D, design, training, and organizational capital. Our analysis shows that returns on intangibles substantially exceed those of traditional production factors, highlighting their central role in value creation. However, because intangible expenditures are rarely capitalized and are often recorded as intermediate inputs, they are not properly accounted for in conventional measures of total factor productivity (TFP). This misclassification creates systematic mismeasurement, whereby inputs are overstated relative to output in the short run, leading to an underestimation of TFP. Exploiting the lumpy nature of intangible expenditures within a difference-in-differences event-study framework, we document that such mismeasurement results in a persistent underestimation of TFP, by about 3% over a seven-year horizon. Given average measured TFP growth of 1% annually, this represents a substantial distortion. The bias is strongest among small, young, and low- capital intensive firms, reflecting slower absorption of intangible assets. By clarifying how intangible capital and emerging technologies such as AI systematically distort measured productivity, our findings provide new empirical insights into the productivity slowdown and the role of mismeasurement in modern economies. |
| Keywords: | Productivity |
| JEL: | E01 E22 E23 O32 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:335205 |
| By: | Paul Hernandez (University of the Incarnate Word, San Antonio, United States) |
| Abstract: | Artificial intelligence (AI) chatbots are increasingly integrated into the operations of small and medium sized enterprises (SMEs) in Texas, supporting functions such as customer service, marketing, and data management. The introduction of regulatory frameworks, including the Texas Responsible Artificial Intelligence Governance Act (TRAIGA), presents a dilemma for these enterprises by imposing compliance costs while also offering opportunities for competitive differentiation through enhanced transparency, ethical governance, and innovation. This paper conducts a systematic policy analysis of state and federal artificial intelligence regulations to assess their impact on adoption costs, operational efficiency, and ethical management for small and medium sized enterprises. The analysis demonstrates that strategic compliance can foster consumer trust, retention, and competitive advantage. Furthermore, the findings suggest the development of a governance and return on investment checklist to assist enterprise leaders in balancing regulatory requirements with business efficiency. Practical recommendations are provided to enable SMEs to leverage compliance as a strategic asset by integrating regulatory and business considerations. |
| Keywords: | AI Chatbots, SMEs, Regulatory Compliance, TRAIGA, Ethical AI, Competitive Advantage |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:smo:raiswp:0593 |
| By: | Elert, Niklas (Institute of Retail Economics (HFI)); Henrekson, Magnus (Research Institute of Industrial Economics (IFN)) |
| Abstract: | Welfare services such as healthcare, elderly care, and education are key to ensuring quality of life generally, and vital for rural communities across urbanizing countries. While these sectors are largely tax-financed, several countries have established quasi-markets to achieve competition through private entry to unleash entrepreneurship, efficiency, and service provision innovation. The reforms notwithstanding, productivity improvements are modest, and the situation seems particularly bad in some rural communities. We argue that quasi-markets can only live up to expectations if the local institutional framework considers sectoral and local conditions. While competition and the profit motive are necessary conditions for local quasi-market entrepreneurship and innovation, they are not sufficient but require a set of complementary institutions that are epistemic in nature. These epistemic institutions enable users to make informed choices while simultaneously incentivizing entrepreneurs to compete and innovate along the dimensions that users value. Moreover, if the catchment area includes densely populated areas, rural communities may attract users from communities where costs are higher, thus creating new comparative advantages locally. As an illustration, we analyze the Swedish quasi-market for nursing homes for the elderly. |
| Keywords: | Entrepreneurship; Innovation; Innovation policy; Marketized care; Quasi-markets; Welfare services |
| JEL: | H42 H44 H75 I22 I28 L88 O31 |
| Date: | 2026–01–03 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:iuiwop:1549 |
| By: | Joel M Thomas; Abhijit Chakraborty |
| Abstract: | This study investigates the economic complexity of Indian states by constructing a state-industry bipartite network using firm-level data on registered companies and their paid-up capital. We compute the Economic Complexity Index and apply the fitness-complexity algorithm to quantify the diversity and sophistication of productive capabilities across the Indian states and two union territories. The results reveal substantial heterogeneity in regional capability structures, with states such as Maharashtra, Karnataka, and Delhi exhibiting consistently high complexity, while others remain concentrated in ubiquitous, low-value industries. The analysis also shows a strong positive relationship between complexity metrics and per-capita Gross State Domestic Product, underscoring the role of capability accumulation in shaping economic performance. Additionally, the number of active firms in India demonstrates a persistent exponential growth at an annual rate of 11.2%, reflecting ongoing formalization and industrial expansion. The ordered binary matrix displays the characteristic triangular structure observed in complexity studies, validating the applicability of complexity frameworks at the sub-national level. This work highlights the usefulness of firm-based data for assessing regional productive structures and emphasizes the importance of capability-oriented strategies for fostering balanced and sustainable development across Indian states. By demonstrating the usefulness of firm registry data in data constrained environments, this study advances the empirical application of economic complexity methods and provides a quantitative foundation for capability-oriented industrial and regional policy in India. |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2601.12356 |
| By: | Winkelmann, Rainer |
| Abstract: | Using data from the German Socio-Economic Panel for 1984 - 1990, I analyze the entrance of young individuals into the German labor market. The experience of apprentices is compared to the experience of graduates from universities, full-time vocational schools, and secondary schools. The main findings are: apprentices experience fewer unemployment spells in the transition to their first full-time employment than non-apprentices; among apprentices those trained in large firms have the smoothest transition to employment; once employed, however, apprentices (whether they stay in their training firm or not) and non-apprentices look very similar in terms of job stability (tenure); and an estimated 70 percent of trainees leave their training firm within a 5 year period. The findings are consistent with the view that apprenticeship training generates general, portable skills rather than firm-specific skills. |
| Keywords: | Labor and Human Capital |
| URL: | https://d.repec.org/n?u=RePEc:ags:canzdp:263769 |
| By: | Anaïs Garin (IRG - Institut de Recherche en Gestion - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12 - Université Gustave Eiffel); Mathias Béjean (IRG - Institut de Recherche en Gestion - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12 - Université Gustave Eiffel); Stefan Meisiek (The University of Sydney Business School); Willy Allègre (CMRRF - Centre Mutualiste de Rééducation et de Réadaptation Fonctionnelles de KERPAPE [Ploemeur] - Centre Mutualiste de Rééducation et de Réadaptation Fonctionnelles de Kerpape) |
| Abstract: | Recently, scholars have explored hybrid value creation at the ecosystem level, in which social and economic value is created collectively by ecosystem actors. While scholars extensively investigated hybridity at the organizational level, for example, in social enterprises, they have seldomly explored it in ecosystems. Yet, understanding how ecosystem actors achieve hybridity collectively is important to support further global actions for tackling grand challenges, which require collective action by diverse actors. Hence, this research builds on a case study of a social innovation ecosystem in the French disability sector to reveal how ecosystem actors manage and maintain such collective hybridity. We find that actors develop a dual management structure in which they achieve both social impact and profitability. Such duality supports the development of cross-interest collaborations and mutual control between actors, hence maintaining a careful balance between social impact and profitability. This research contributes to the ecosystem management literature by investigating collective hybridity management in an ecosystem. It also contributes to a better understanding of social innovation ecosystems, an emerging concept in the ecosystem literature. Finally, we suggest opportunities for future research and identify implications for practitioners and policymakers to address grand challenges through collective hybridity. |
| Keywords: | collective hybridity, profitability, social values, Social innovation ecosystems |
| Date: | 2025–06–11 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05453544 |
| By: | María Alejandra Amado (BANCO DE ESPAÑA) |
| Abstract: | Macroprudential FX regulations aim to reduce systemic currency-mismatch risks, yet their distributional effects on firms’ access to credit remain poorly understood. This paper studies Peru’s 2014 dedollarization policy, which sharply increased reserve requirements on banks’ foreign-currency liabilities in proportion to their dollar lending to nontradable firms. Exploiting cross-sectional variation in banks’ exposure and using administrative loan-level data covering the universe of firms, I find that moving from the median to the 75th percentile of exposure reduces growth in total new loans by roughly 10 percentage points for micro and small firms, with no significant effects for medium or large firms. Larger firms absorb the shock by reallocating borrowing across banks and into local currency credit, whereas micro firms experience sharp declines in both dollar and total credit, higher borrowing costs, and modest employment losses. The results highlight a trade-off between macroprudential objectives and credit access for small firms. |
| Keywords: | macroprudential FX regulations, currency mismatch, small firms, emerging markets, borrowing constraints, bank lending channel |
| JEL: | E43 E58 F31 F38 F41 |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:bde:wpaper:2604 |
| By: | Bianca He; Lauren Mostrom; Amir Sufi |
| Abstract: | Financial Technology (“FinTech”) firms invest significantly more in customer capital relative to traditional financial firms, and such investment builds valuable customer capital. Higher investment by FinTech firms is not accounted for by sectoral focus or differences in firm age. Reasons for higher customer capital investment are explored, including the need to build trust with customers, the focus on downstream segments of the financial marketplace, the operation of platform-based business models, and a heavier reliance on valuable customer data. |
| JEL: | G23 M3 |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34710 |
| By: | Olurotimi, Osaretin |
| Keywords: | International Development |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea25:360994 |
| By: | Noriyuki Yanagawa (Faculty of Economics, University of Tokyo); Chiho Kaide |
| Abstract: | This paper presents a case study of a family business, focusing on Hattori Kogyo Co., Ltd., a long-established enterprise founded in 1885 in Okazaki City, Aichi Prefecture. Throughout its history of over 130 years, the company has transformed its business in response to changing times. The defining characteristic of this case is "parallel business succession, " wherein the predecessor continues to manage a portion of the business operations while the young successor actively expands into new ventures. This case offers valuable insights for examining the diversity of business transformation and succession. |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:cfi:jseres:cj121 |
| By: | Noriyuki Yanagawa (The University of Tokyo); Chiho Kaide |
| Abstract: | This paper presents a case study of a family business, focusing on Toshimaya Honten, which was founded in 1596. Throughout its history spanning over 400 years, the company has faced three major management crises. In light of these experiences, the company prioritizes long-term development built on trust over short-term profits, maintaining a management style that strictly adheres to its core business of sake brewing. This case serves as a prominent example illustrating the survival mechanisms and characteristics of long-established enterprises. |
| Date: | 2026–01 |
| URL: | https://d.repec.org/n?u=RePEc:cfi:jseres:cj122 |
| By: | Chinwe Beneditte Ogbonna (University of Freiburg, Germany) |
| Abstract: | Displacement has become endemic in the ongoing conflict affecting northeastern Nigeria, with women and girls disproportionately impacted by the resulting humanitarian crisis. Many reside in Internally Displaced Persons (IDP) camps, such as the Bakassi camp in Maiduguri, where they struggle with psychological trauma, social exclusion, and economic hardship. This research explores the coping mechanisms employed by displaced women and highlights the potential therapeutic benefits of entrepreneurial strategies in facilitating trauma recovery and psychosocial empowerment. The paper argues that while government efforts to hastily return IDPs to their original communities may appear to offer a solution, they often create additional challenges. Most of these women lack the necessary skills and support to manage mental health concerns or secure sustainable livelihoods upon return. Without carefully designed economic empowerment programs that engage high-risk youth in ways that reflect their interests and trauma-related needs, reintegration may inadvertently increase their vulnerability. Government agencies, NGOs, and researchers have paid insufficient attention to the adaptive strategies these women have developed through displacement. Using a qualitative research approach, the study draws on focus group discussions and interviews with female IDPs in Bakassi Camp. Findings reveal that entrepreneurial activities tailored to the women’s capacities and aspirations can serve as effective trauma therapy, tools for empowerment, and participatory pathways to reintegration. The paper concludes by advocating for culturally sensitive, skill-based entrepreneurial mentoring programs as essential components of any long-term solution for women who suffer from trauma caused by insurgency |
| Keywords: | Displacement, Trauma, Coping Strategies, Entrepreneurship, IDPs, Boko Haram, Mental Health, Reintegration |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:smo:raiswp:0592 |