Regional economic attributes affecting entrepreneurship cover market size, structure and growth, economic structure in terms of competition, specialization and market concentration, accessibility, and the availability of cheap business locations. A significant positive effect of financial capital on growth aspirations, however, existed, together with the positive influence of strong shared norms and values, or cognitive capital. Consequently, both governments and researchers have increased their interests in new and small businesses. There is considerable evidence to demonstrate that the diffusion of new technologies is spatially variable. In both countries, new companies are attracted by industry strength in particular sub-sectors in a particular region. Industrial 8 Studies by Garofoli 1994 and Santarelli and Piergiovanni 1995 found contrasting evidence. The positive relationship between entrepreneurship policies and entry in the Construction sector is unsurprising because in the period under consideration this 10 Empirical Results These are coded as sectors D, F, G, H, I, and J in the database Movimprese provided by Unioncamere.
Niels Bosma, Veronique Schutjens, and Erik Stam 59 365 High-Growth Entrepreneurs, Public Policies, and Economic Growth. Results from the 2002 Scoreboard. Following the institutional relativist approach which stems from the work of North and from other neo-institutional studies previously mentioned, this framework is based on the idea that economic processes are embedded in sociological processes, but are not entirely determined by them. Madison, Wisconsin, The University of Wisconsin Press. With the shift from the managed to the entrepreneurial economy, the role of public policy also changed Audretsch and Thurik 2001. This research leads to a map of the knowledge bases, which allows for the identification of the company's underlying technologies and the knowledge flows.
Several potential lessons are presented that can be considered in making the support system more suitable for fostering entrepreneurship as well as identifying overall barriers to implementing an entrepreneurial culture in distinct locations. While product life-cycles influence significantly the pattern and magnitude of job flows, different industry and regional technology regimes play a less significant role. Furthermore, if the opportunities for new firm creation differ across regions and industries Acs 2006 ,1 it is crucial to adopt strict criteria for assigning subsidies. The parameter l is the difference between c and g. Acs and Armington 2006 suggest that rates of new firm formation tend to be higher in regions with more adult workers who have attained higher education. After defining our concept of entrepreneurship in Sect. Some examples of relevant themes and research questions that might be considered for publication, include, although are not limited to, the following: - Do shocks transmission can be regulated or arbitrated for being exploited as investment opportunities, under a high uncertainty context? While, overall, former entrepreneurs capture a wage premium through better career prospects, they are paid less than other employees assigned to the same hierarchical level.
Peter Swann, Martha Prevezer and David Stout eds. As a result, public policy influence, instruments, and target groups differ widely between both views. Simple descriptive ex post evaluations are not enough and cannot provide empirical evidence for the success of such programs. In particular, it analyzes the way in which firm patent portfolio management strategies may systematically hinder the emergence of entrepreneurial endeavors within the economic system and, on this basis, critically discusses how the acknowledgement of these interactions should influence the design of public policies at the economic system level. Growth in national income is unambiguously related to high levels of new firm formation and high-growth start-ups Stam et al. We follow the careers of habitual and novice entrepreneurs to investigate whether entrepreneurial experience matters for performance. Therefore, we work with a dataset encompassing individual behavior of over 350,000 individuals in 131 regions across 16 countries in Europe.
Firms diversifying after birth are more likely to survive the older they are at the moment of diversification, suggesting that early diversification may be associated with entry mistakes by firms that have not yet accumulated the required resources and capabilities to diversify successfully. . Data on economic attributes at the regional level are mainly drawn from the Cambridge Econometrics database on European Regions. From an economic point of view, there are a number of side effects to be analyzed. Rather, it is often the outcome of intentional firm behaviors directed toward restraining potential competition, which appears detrimental to the overall economy. In this regard, von Hippel 2006; pp.
Subsequently, we present a model to determine the impact of entrepreneurship policies and unemployment, as well as other relevant regional factors, on gross entry, net entry, and net exit for the 103 Italian provinces. This book appears at a particularly challenging time, in economic and social terms, when entrepreneurship and innovation assume particular strategic importance, inasmuch as endogenous growth should be considered by policy-makers and also by business-people and citizens as one of the driving forces that can catalyze regional economies. C 2000 Elsevier Science B. Although these programs are limited to the former East German states, similar programs exist for Western Germany as well. The overdose of patenting activity in the field may have a significant impact on start-ups. An empirical model of diffusion is built, including variables related to the regional density of adopters and of technologically close firms.
It is theoretically possible to stabilize Unemployment 6 Entrepreneurship Policies: Principles, Problems, and Opportunities 123 economic activities at the full employment level by adjusting the level of public spending, taxes, and general monetary measures. However, pure collective goods are relatively rare but there are many goods that have a partially collective character. Third, there are many highly qualified potential entrepreneurs in these countries especially in Eastern European countries , who do not face the opportunity costs of working for large public or private organizations. This way, ensure that it is the owner who actually exercises control over the definition of personnel policies, namely hiring, job assignment, and wages. The new instruments facilitate the institutionalization of regional cooperation and network building1 in order to stimulate start-ups out of universities or research institutes.
The Knowledge Spillover Theory of Entrepreneurship Audretsch et al. One obvious example is the market for entrepreneurial ideas, which does not work as a free market because of existing asymmetric information. The implicit or explicit link between entrepreneurship and economic growth, albeit at the European, national, regional, or urban level, exists everywhere both in academic studies and policy documents Minniti 2008. This might reflect the more mature industry structure in these countries, leaving more space for incremental innovations and moderate growth opportunities than the more dynamic high-growth opportunities that can be found more often in transition countries. . The reason is that the institutional framework defines the incentives for economic agents to transform their business ideas to action, and determines to what extent unnecessary barriers will hamper them Carree and Thurik 2003. This relies on the intuition and implementation of new resource combinations or the development of new competences or knowledge which can elevate the efficiency within the economic system.
This is its great advantage for accelerating the process of real convergence and endogenous growth with a regional basis. The entry of companies into higher education institutions: universities and polytechnics, and especially businesses that carry out activities in emerging and traditional sectors, with intense use of knowledge and technology, should also be encouraged through public policies oriented toward technological entrepreneurship and the education of human capital. The study of job creation and destruction by small firms is particularly relevant in the case of Portugal, where firms with less than 10 employees micro-firms represent roughly 83% of the total number of firms. It is subjective which kind of creativity helps find new solutions to old problems or helps resolve new problems. A longitudinal matched employer-employee database containing comprehensive information on firms, entrepreneurs and employees is used. In their view, this implies that there is a need for different entrepreneurship policies in different types of locations that should be based on appropriate analyses, which must consider the general conditions for entrepreneurship in terms of institutions, the role of the public sector, and the influence of market failures. This framework closely relates to the eclectic framework proposed by Verheul et al.
Since the 1990s, academic investigations developed according to an eclectic paradigm consider entrepreneurship as having important effects in both the economic and social domains. Auerswald 2007: 29 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 Consequently, the existence of market failures is not necessarily a mandate for policy intervention and the numerous policy programs promoting entrepreneurship call for a careful evaluation of their effects. Through a process of competition, firms with new products make firms with old products redundant; firms with more efficient modes of production push less efficient producers out of the market. Most studies at the industry level find a positive effect of profitability and market growth on both gross and net entry cf. The following paragraphs describe the new entrepreneurship policies in more detail.