Can oil-rich countries encourage entrepreneurship?

This study provides the first empirical investigation to test one of transmission channels of resource curse, i.e. marginalized entrepreneurship activities. Our panel data analysis of 65 countries from 2004 to 2011 shows a negative and statistically significant association between oil rents dependency and entrepreneurship indicator. This finding is robust to control of other major drivers of entrepreneurship, unobservable country- and time-fixed effects and a different measurement of oil rents dependency. In addition, our main results show that government effectiveness among other dimensions of good governance has a statistically significant moderating effect in entrepreneurship–oil rents nexus.     

Leveraging entrepreneurial ecosystems as human resource systems: A theory of meta-organizational human resource management

Entrepreneurs require human resources to establish and scale their ventures; however, constraints often prevent entrepreneurs from investing in formal human resource systems. How entrepreneurs overcome human resource challenges by leveraging their entrepreneurial ecosystems as informal inter-organizational talent management systems has been overlooked by scholars. We propose a model of entrepreneurial ecosystem human resource management, theorizing that ecosystem participants collectively perform the human resource management function for entrepreneurship communities. Drawing from economic rents theory, we explain how entrepreneurial ecosystems encourage a form of meta-organizational human resource management that allows ecosystem participants to coordinate talent acquisition, learning and development, performance management and rewards, and retention. Coordinated entrepreneurial ecosystems improve entrepreneurial performance by sourcing talent, onboarding selected members, enculturating ecosystem values, developing entrepreneurial skills, and retaining human resources, which in turn generates rents. We discuss how our theory catalyzes research at the HR and entrepreneurial ecosystems interface and reveals insights for practitioners.     

The Effects of Industry Governance on Offshore Oil Development in the Gulf of Mexico

This article presents an historical analysis of the way governance arrangements in the petroleum industry have affected development of offshore oil resources in the Gulf of Mexico. Global competition over differential rents and natural value available from petroleum extraction were instrumental in the construction of oil prices high enough to support profitable investment offshore. Attention to the social construction of oil prices illustrates how political discourse on national security and conservation helps translate economic logic into strategic political coalitions and state action. The article shows how the unequal flow of resources in a global extractive industry, as organized by transnational corporations and states, interacts with marginal costs and differential rents to influence economic development. Development of Louisiana offshore oil after the second world war was protected by a private international price cartel, federally enforced import quotas and tax laws. Competition in the industry and the OPEC price increases of the 1970s undermined US domination of world oil, but higher oil prices further stimulated investment offshore. The subsequent breakdown of stable governance in the 1980s drove down oil prices, hastened restructuring of the petroleum industry and caused a rapid decline in Louisiana offshore investment.     

Henry George and Jane Jacobs on the Sources of Economic Growth

Henry George and Jane Jacobs shared a remarkably similar vision of the economic functioning of cities and of the sources of the economic growth of cities, despite having differing primary objectives. George wrote Progress and Poverty and subsequent works to persuade the public of the equity and efficiency of public capture of economic rents of land and other natural resources and elimination of taxes on labor and capital. Jacobs acquired fame for The Death and Life of Great American Cities in which she challenged the prevailing orthodoxy of the urban planning profession. Both saw the density and diversity of economic and cultural activities in cities as a facilitator of innovation and entrepreneurship in all aspects of civilization. Both also recognized the power of the price system in coordinating the activities of independent decision makers and the importance of trade for economic growth.     

Entrepreneurship and economic freedom: cross-country evidence from formal and informal sectors

Abstract

The paper empirically examines the effect of economic freedom on the average prevalence of formal and informal entrepreneurship. Whereas the formal entrepreneurship and economic freedom nexus has been studied, the influence of economic freedom on informal entrepreneurship is less forthcoming. The results, based on cross-country data and after accounting for possible reverse causality, show that economic freedom promotes formal entrepreneurship and inhibits informal entrepreneurship. Furthermore, the return from economic freedom is greatest in countries with a relatively higher prevalence of formal and informal entrepreneurship.     

Effects of Schumpeterian and Kirznerian entrepreneurship on economic growth: panel data evidence

Abstract

The relevant literature recognises Schumpeterian and Kirznerian entrepreneurship as mechanisms that can impact economic growth. This article seeks to explore the effects of these two types of entrepreneurship on economic growth across the three GEM (Global Entrepreneurship Monitor) economic ecosystems (factor-driven economy, efficiency-driven economy, innovation-driven economy). Using different databases, we applied unbalanced panel data for 43 countries (2009–2013). By estimating the econometric models, we were able to calculate the effects of these two types of entrepreneurship on economic growth in the three different types of economy. In terms of the overall model for GEM economies, neither Schumpeterian nor Kirznerian entrepreneurship return any statistically significant effects on the Global Competitiveness Index or on GDP growth. However, the Total Early-Stage Entrepreneurial Activity variable generates a positive effect on the Global Competitiveness Index. The results presented in this paper provide insights into entrepreneurship and the GEM entrepreneurial economic ecosystems.     

Public entrepreneurship: desiring social change,creating sociality

In this paper we want to affirm the desiring-social-change that we find in practices presently represented by theorists and policy-makers as examples of ‘social entrepreneurship’ (SE). We do this as an attempt to intensify the presence of the social and sociality in today's discourse on the entrepreneurship–society relationship. SE, as all entrepreneurship practices, operates by social and economic forces (limiting ourselves to those here), and generates social and economic outcomes (amongst others). Its second half, however, dominates the concept of SE, and our analysis seek to remedy this imbalance by focusing on the social productivity of entrepreneurship, on entrepreneurship desiring social change. We suggest ‘public entrepreneurship’ might grasp this as a more balanced concept that will also support a more precise analysis of the entrepreneurship–society relationship.     

Quantifying entrepreneurship and its impact on local economic performance: A spatial assessment in rural Switzerland

Regional and rural development policies in Europe increasingly emphasize entrepreneurship to mobilize the endogenous economic potential of rural territories. This study develops a concept to quantify entrepreneurship as place-dependent local potential to examine its impact on the local economic performance of rural territories in Switzerland. The short-to-medium-term impact of entrepreneurship on the economic performance of 1706 rural municipalities in Switzerland is assessed by applying three spatial random effects models. Results suggest a generally positive relationship between entrepreneurship and local development: rural municipalities with higher entrepreneurial potential generally show higher business tax revenues per capita and a lower share of social welfare cases among the population, although the impact on local employment is less clear. The explanatory power of entrepreneurship in all three models, however, was only moderate. This finding suggests that political expectations of fostering entrepreneurship to boost endogenous rural development in the short-to-medium term should be damped.     

Entrepreneurship and Innovation at the Base of the Pyramid: A Recipe for Inclusive Growth or Social Exclusion?

Policy makers often see entrepreneurship as a panacea for inclusive growth in underdeveloped ‘Base of the Pyramid’ (BOP) regions, but it may also lead to unanticipated negative outcomes such as crime and social exclusion. Our objective is to improve the understanding of how entrepreneurship policies can lead to socially inclusive growth at the BOP. Drawing on data collected from Brazilian tourism destinations with varying entrepreneurship, innovation, and social inclusion policies, we argue that weak institutions coupled with alert entrepreneurs encourage destructive outcomes, especially if entrepreneurship policies are based solely on economic indicators. Policies addressing both economic and social perspectives may foster more productive entrepreneurial outcomes, albeit at a more constrained economic pace. The study extends the related BOP, entrepreneurship, global value chain, and sustainable tourism literatures by examining the poor as entrepreneurs, the role of local innovation, and how entrepreneurship policies generate different social impacts within poor communities.     

Economic rents and mutual fund performance: An empirical investigation

We investigate the monthly returns of 377 open-end mutual funds during the September 1981–1994 period to learn whether economic rents can be garnered through the judicious selection of the advertising and sales method in the mutual fund industry. Specifically, we seek to learn whether direct sales or mass marketing produces economic rents under the assumption that those rents would be passed on to consumers to build a “high quality” image to differentiate the product line. Results suggest that no-load funds produce superior net returns except in the aggressive growth category.     

Corporate venturing and the rent cycle

This study views entrepreneurial rents as renewable opportunities and explores how firms can effectively utilize corporate venturing to create and sustain economic rents. Schumpeterian entrepreneurs create rents by harnessing corporate venturing to exploit attractive economic opportunities. The Schumpeterian rent is composed of Ricardian and Austrian rents. Ricardian rents result from unique and non-reproducible characteristics or competencies of the firm, and hence, are not appropriable by imitators. Conversely, Austrian rents, or economic profit, are subject to dissipation by imitators and attract entry by competitors or Austrian entrepreneurs until they are bid to zero or destroyed by another Schumpeterian innovation. In this formulation, Austrian entrepreneurs are modeled as infra-marginal rent seekers. Consequently, to sustain rents, firms must cycle between using corporate venturing to create or discover Schumpeterian entrepreneurial opportunities and using venturing as a mechanism to exploit existing rent generating opportunities.     

Impact of high‐growth start‐ups on entrepreneurial environment based on the level of national economic development

In this paper, we examine the relationship between the conditions of the entrepreneurial environment and high‐potential entrepreneurship according to the stage of economic development of the country. A structural equation model was designed based on data from the Global Entrepreneurship Monitor project, which contains information about 62 countries. Our results suggest that economic development and high‐potential entrepreneurship have a greater impact on the entrepreneurial ecosystem than entrepreneurial activity in general—with special effects on government programs, R&D transfer, and access to the domestic market. Notably, the level of influence of sustainable economic development and high‐potential entrepreneurship depends on the level of economic development of the country.     

Hong Kong's entrepreneurship: behaviours and determinants

It is widely known that Hong Kong's economic success is to a large extent attributed to its dynamic entrepreneurs. However, economic studies on Hong Kong's style of entrepreneurship are few. This paper attempts to throw light on this issue. It argues that Hong Kong is an entrepreneurial society. A unique feature of Hong Kong's style of entrepreneurship lies in its ability to conduct ordinary, rather than extraordinary, discovery. Through the use of guerrilla business strategy, imitation and regional arbitrageurship, entrepreneurial firms in Hong Kong are able to exploit narrow profit margins and to survive global competition. Moreover, the cultural, economic and political environments of Hong Kong are found to be favourable in incubating adaptive entrepreneurship. This paper concludes that, although Hong Kong's style of entrepreneurship emerges out of its unique environments, Hong Kong's experience can be useful to other developing economies. The critical issue is whether latecomer countries can successfully develop adaptive entrepreneurship compatible with their backgrounds so as to exploit international market opportunities.     

Do governments tax agglomeration rents?

Empirical evidence suggests that firms receive rents from locating in economic agglomerations and industry clusters. Using the German local business tax as a testing ground, we empirically investigate whether these agglomeration rents are taxable for local governments. The analysis exploits a rich data source on the population of German plants to construct measures for the communities’ agglomeration characteristics. The findings indicate that economic agglomerations and industry clusters exert a positive impact on the jurisdictional tax rate choice. Further analysis moreover suggests that a municipality’s potential to tax agglomeration rents depends on its firm and industry agglomeration relative to neighboring communities. To account for potential endogeneity problems, our analysis exploits long-lagged population and infrastructure variables as instruments for the agglomeration measures.     

Entrepreneurship and economic development: the EMPRETEC showcase

The hypothesis that entrepreneurship is linked to economic growth finds it’s most immediate foundation in simple intuition, common sense and pure economic observation: activities to convert ideas into economic opportunities lie at the very heart of entrepreneurship. Entrepreneurship is a source of innovation and change, and as such spurs improvements in productivity and economic competitiveness. The entrepreneur has been a fundamental agent in most production, distribution and growth theories. The role of entrepreneurship as the driving force of economic growth found its most explicit foundation. Empretec was established in 1988 to promote entrepreneurship in developing countries. Empretec’s programs have been initiated in 27 countries plus additional centers in Brazil, assisting more than 80, entrepreneurs through local driven business support centers. The information collected for this paper was secondary data rather than conducting survey. Therefore, one objectives of this paper is to examine the exact nature of entrepreneurship and its role in economic theory.     

基于提高创业能力的西方经济学教学改革的研究

西方经济学理论内容适合于培养学生的创业能力,而目前西方经济学课程的教学存在着单纯强调理论内容的阐述而忽视培养学生经济学思维能力的倾向。对西方经济学课程教学方法和教学内容进行改革,可以有效的提高学生的创业能力。     

Military spending and entrepreneurship: Spatial effects of cross‐country spillovers

This paper uses a large cross‐country panel data sample to examine the effects of military spending on entrepreneurship. The other major contribution of this work lies in studying the spatial cross‐country influences of military spending on entrepreneurship. Placing the econometric model in the broader literature on the determinants of entrepreneurship, results show that while own military spending crowds out entrepreneurship in a country, bordering military spending promotes entrepreneurship. In other findings, we find interesting contrasts between the effects of government size and government quality, and between economic freedom and political freedom.     

Culture,entrepreneurship and uneven development: a spatial analysis

Interest in the proposed connection between culture and entrepreneurship has grown significantly in recent years. However, less attention has been given to the nature of the overall impact of this proposed association on development outcomes, particularly at the local level. In response, this paper analyses the relationship between the nature of the culture, entrepreneurship and development experienced across localities, proposing that the link between culture and development is mediated by entrepreneurship. It focuses upon the concept of community culture, as well as embracing a notion of development incorporating both economic and social well-being outcomes. Drawing upon a multivariate spatial analysis of data from localities in Great Britain, the findings indicate that differences in rates of entrepreneurship are strongly influenced by the community culture present in these localities. Furthermore, a bidirectional relationship is found to exist between entrepreneurship and economic and social development outcomes. It is concluded that the embeddedness of local community culture presents a significant challenge for those places seeking to promote entrepreneurially driven development.     

The moderating role of entrepreneurship education on the antecedents of entrepreneurial intention

A considerable agreement exists about the importance of promoting entrepreneurship to stimulate economic development. In particular, recent research has paid considerable attention to the role of entrepreneurship education in explaining entrepreneurship intentions; also, numerous studies have found empirical evidence for subjective norms affecting the attitude toward entrepreneurial behavior and the perceived control over that behavior. However, cognitive models have not yet considered the moderating role of entrepreneurship education on these relationships. Drawing on the theory of planned behavior, we analyze how the interaction between entrepreneurship education and subjective norms shapes the perceptions and attitudes toward entrepreneurship. To this end, structural equation modeling is applied to data from a sample of 338 final-year undergraduates using multi sample analysis. Results show that entrepreneurship education has a significant moderating role, mitigating the relationship between subjective norms and perceived behavioral control, and strengthening the relationship between subjective norms and entrepreneurial attitudes. Results also have relevant implications for women’s entrepreneurship.     

关于大学生就业创业指导体系的研究

构建大学生就业创业指导体系是服务国家加快转变经济发展方式、建设创新型国家和人力资源强国的战略举措,是深化高等教育教学改革、提高人才培养质量、促进大学生全面发展的重要途径,是落实以创业带动就业、促进高校毕业生充分就业的重要措施。本课题通过对大学生开展就业创业调查问卷,梳理高校大学生就业创业指导体系,参考有关研究成果,在目前国内外对大学生就业创业政策、培训体系、帮扶体系、孵化平台、协调机制研及职业指导体系的基础上,结合山东药品食品职业学院就业创业工作实际,构建立足地方行业企业,结合地方经济发展的大学生一体化、专家化、全程化、信息化的就业创业指导体系。