The impact of ICT on the demand for skilled labour: A cross-country comparison

This paper provides a unique cross-country comparative perspective on the impact of information and communication technology on the demand for skilled labour. It employs panel data for the US, the UK and France, comprising several skill categories for each country for the 1980s and 1990s. The paper considers the issue of whether skill bias is transitory or permanent both by considering changes through time and by dividing the highly skilled into IT specific and other occupations. The results indicate that the impact of technology on the demand for skilled labour is slowing down, at least in the US, supporting a transitory interpretation.     

Conceptualizing entrepreneurial capital in the context of institutional change

This paper explores the building of entrepreneurial capital from an entrepreneurship and contextual/institutional position. In taking this position, it is possible to understand “entrepreneurial capital” as the content of the process that unfolds when individuals are exposed to certain characteristics of the environment. Drawing on findings from an ethnographically inspired longitudinal case study, the paper identifies the various actions attributed to entrepreneuring actors. Using the context of Poland as an illustrative case, the paper traces a variety of entrepreneuring accounts which appear to define entrepreneurial capital. This in turn provides a preliminary theoretical framework for the nature and the key elements of entrepreneurial capital. The study indicates that entrepreneurial capital is relationally and contextually constituted. The findings draw attention to the value of entrepreneurial capital in the context of an organizational and institutional change process that (1) involves the active creation Lachmann (Organization Studies 31: 219–244, 1986) of entrepreneuring actors within an organizational and societal context, (2) creates beneficial and supportive conditions that incorporate internal (organizational, personality) and external (environmental) resources for entrepreneuring, and (3) is facilitated by the entrepreneuring process. Finally, implications for entrepreneurship inquiry are drawn.     

The impact of state legitimacy on entrepreneurial activity

The purpose of this research is to analyze the influence of the state legitimacy on of the different countries’ entrepreneurial activity’s development, the opportunities’ perception and the entrepreneurship’s motivations. This paper is set into the research field which analyze how the institutional environment influence entrepreneurship in different countries. Research framework has been built based on the Institutional Theory. To develop the model we use a set of data extracted from the European Social Survey and the Global Entrepreneurship Monitor about 28 European countries and we analyze them through Partial Least Squares-Structural Equation Modeling. Results show that state’s legitimacy influences the level of entrepreneurship in the different countries and the perception of the entrepreneurial opportunities and chances. Besides, the research shows that, in the scenario of the most legitimated countries, entrepreneurial activities is related to the need of self-employment. Based on the Institutional Theory, this research provide relevant contributions in the research field about entrepreneurship and countries’ institutions. From a practical point of view, the research shows ideas on how policymakers can improve entrepreneurial activity managing state legitimacy. Furthermore, the results provide new contributions in the research on the influence of the institutional context on the states entrepreneurial activity, providing an analysis and a comparison of the differences between countries, based on institutional theory.

     

The impact of desirability and feasibility on entrepreneurial intentions: A structural equation model

There is general agreement that attitudes towards entrepreneurship are determinant factors to decide to be an entrepreneur. In this context, this research is focused on analyzing the relationship between desirability and feasibility on university student’s intentions to create a new firm in Catalonia. A structural equation model supported by Krueger & Brazeal’s Model was tested with different groups of students. The main results reveal most of university students consider desirable to create a new firm, although the perception of feasibility is not positive. Also, there is a statistical significant and positively relationship between credibility and the intention to create a new firm.

Relatedness and entry mode choice in the context of entrepreneurial business entries

In this research we aim to study how established firms develop new entrepreneurial business entry. We based our hypotheses on the theoretical propositions arising from the entrepreneurship strategic management interface. Specifically, we analyse which factors influence the entry mode choice in entrepreneurial business entries. We consider three groups of determinant factors: industry, firm and transaction-related factors. We test our hypothesis in a Spanish firm sample of 197 entrepreneurial business entries. Our results allow us to describe in which circumstances firms are more likely to perform entrepreneurial business entries by low resource commitment and control modes, such as strategic alliances. As a result, a theoretical model is proposed to assess the entry mode choice in this type of entry. Thus, this study contributes to generating debate in this topic.

A time-varying volatility approach to modeling the phillips curve: A cross-country analysis

This research examines the Phillips curve price adjustment mechanism allowing for the conditional variance of inflation to be time varying. Specifically, we estimate ARCH and GARCH models of inflation for Canada, Japan, and the U.K. The results suggest that an increase in the conditional variability of inflation leads to higher levels of inflation. In addition, inclusion of inflation variability in the Phillips curve model results in a higher weight being attributed to the output gap than in traditional models. (JEF E24)     

Evaluating the impact of prior experience in entrepreneurial intention

Although entrepreneurial behavior is proposed as part of the solution to fragile labor markets, in particular in periods of economic and social change, policy makers are struggling to find the right levers to promote it. Despite the extant prior research on entrepreneurial behavior, little is known on the entrepreneurial behavior drivers for the individuals of working age with experience. Prior research explores the influence of entrepreneurial knowledge to study the drivers of experienced individuals evaluating whether or not to engage in an entrepreneurial behavior. This research introduces entrepreneurial knowledge to study the impact of prior experience on entrepreneurial intention. Based on the theory of planned behavior (TPB), this research work analyzes the relationship between entrepreneurial knowledge and entrepreneurial intention, and the mediating effects of the TPB perceptual variables: personal attitude (PA), social norm (SN), and perceived behavioral-control (PBC). A structural equation model (SEM) has been used to analyze the responses of a sample of 431 experienced individuals of working-age that completed a questionnaire based on Liñan & Chen’s, Entrepreneurship Theory and Practice, 593–618, (2009) Entrepreneurial Intention Questionnaire (EIQ). The results showed that entrepreneurial knowledge positively influences entrepreneurial intention and that this influence is mediated by the perceptual variables of the TPB model (PA, SN, PBC). These findings contribute to the understanding of the entrepreneurial intention for experienced individuals and consolidate the use of the TPB model to study individual entrepreneurial intention. The findings suggest that policy makers should pay more attention to individual entrepreneurial knowledge, and strengthen the attractiveness of an entrepreneurial career, if they are interested in fostering entrepreneurial behavior among individuals of working age with experience.     

A cross-country panel approach to exploring the determinants of educational equity through PISA data

The main aim of the paper is to analyse the effect of country and school factors on a new measure of educational equity defined as the country proportion of resilient students, i.e. those who, despite their disadvantaged socioeconomic background, are able to obtain good educational results. We construct a cross country panel dataset by merging the five editions of OECD PISA (Programme for International Student Assessment). The panel analysis allows to exploit country and time level variation in the proportion of resilient students controlling for systematic and institutional differences. Our findings suggest that educational funding can help disadvantaged students to obtain the opportunities that they are otherwise lacking. In addition, this effect seems to be heterogeneous, and particularly driven by those countries whose economic development (in terms of per capita GDP) is lower.     

The impact of a necessity-based start-up on subsequent entrepreneurial satisfaction

Necessity entrepreneurship has been much debated in research and policy. This paper examines the impact of necessity as a start-up motive on subsequent entrepreneurial satisfaction. Empirically, the paper is based on a sample of 777 recently established Finnish micro enterprises. The results show that necessity entrepreneurs are somewhat more likely to want to switch back to paid employment later in their entrepreneurial careers. However, if the individual earns a satisfactory livelihood through self-employment, the negative effect of a necessity-based start-up on subsequent entrepreneurial satisfaction diminishes. Training in business skills that helps necessity entrepreneurs to run an economically viable business might thus increase their satisfaction with being self-employed.     

A systematic literature review of entrepreneurial opportunity recognition: insights on influencing factors

In the last three decades, research studies investigating how individuals recognize entrepreneurial opportunities have advanced rapidly and have become a key topic in the modern entrepreneurship literature. To advance this important concern further, we present a systematic literature review of the entrepreneurial opportunity research field and its status. Contrary to conventional wisdom, this research suggests that the field is fragmented and empirically underdeveloped. A comprehensive literature analysis shows that only a handful of authors have contributed specifically to developing dialogues related to opportunity recognition and that the topic is considered primarily as an ancillary issue by many authors and academic journals. Based on analyzing 180 articles, we classify existing contributions into six influential factors: prior knowledge, social capital, cognition/personality traits, environmental conditions, alertness, and systematic search. Moreover, by developing a framework, we communicate critical insights regarding the opportunity recognition process. The contribution of individual articles to the proposed factors is presented in a research synthesis table. We conclude by presenting several directions for future research related to opportunity recognition.     

The impact of role models on entrepreneurial intentions and behavior: a review of the literature

Despite the presence of the term ‘entrepreneurial role model’ (ERM) in the discourse on entrepreneurship, existing empirical evidence on the effects of role models is rather limited. By investigating 86 published journal articles, we provide a structured overview of the academic research on role models’ effects on entrepreneurial intentions and behavior. We reveal that prior research focuses particularly on different types of role models (by whom), at which stage of life (when) and in which context the exposure to role models occurs. We use these research areas to structure our review. By expanding the understanding of the current state of ERM research, we reveal research gaps and provide future research recommendations. Our work could help policy makers and educators consider the different types of role models, the sociocultural context and the life cycle stage of the participants in structuring their entrepreneurship education programs.

     

University training for entrepreneurial competencies: Its impact on intention of venture creation

This study tests the effect of entrepreneurship education programmes on the entrepreneurial competencies and intention of university students in order to confirm (or disconfirm) conventional wisdom that entrepreneurial education increases the intention to start a business. We address the following research question: Do entrepreneurship education programmes raise the entrepreneurial competencies and intention of students? We used a pretest-post-test quasi-experimental design. Data were collected from 864 university students of Castilla & León (Spain), from 863 students (403 taking the programme and 460 in a control group). The results showed that students in the ‘programme’ group increased their competencies and intention towards self-employment, whereas students in the control group did not. The findings contribute to the theories of planned behaviour and to the literature of entrepreneurship education itself, by revealing the effect of specific benefits for the students derived from the entrepreneurship ‘programme’.     

The impact of international outsourcing on individual employment security: A micro-level analysis

The paper analyzes how international outsourcing affected individual employment security. The analysis is carried out at the micro-level, combining monthly spell data from household panel data and industry-level outsourcing measures. By utilizing micro-level data, problems such as aggregation and potential endogeneity bias, as well as crude skill approximations that regularly hamper industry level displacement studies, can be reduced considerably. The main finding is that international outsourcing significantly lowers individual employment security. Interestingly, the effect does, however, not differ between high-, medium-, and low-skilled workers but only varies with job duration.     

Empirical study on factors motivating business students to move to the entrepreneurial sector

This exploratory study is attempting to examine how employable individuals turn their focus to start-ups. Today, majority of employees still practice a more or less self-protective strategy. In this paper the authors have reported the results of an empirical study of factors motivating degreed potential employees to move to self-enterprising. The deciding factors to become an entrepreneur and of sustainable employment-oriented factors are analyzed in order to discover how they differ. Participants consisted of 200 students from Malaysia entered final year of business undergraduate and postgraduate programs. Self-administered questionnaires were used to gather data on factors and types of relationships influencing career choice and entrepreneurial intention. The results will serve as a basis for improvement of employment practices and promising entrepreneurial curriculum in universities to support start-ups in creating sustainable businesses.     

The impact of a STEM-based entrepreneurship program on the entrepreneurial intention of secondary school female students

Despite dedicated effort and research in the last two decades, the entrepreneurship field is still limited by little evidence-based knowledge of the impacts of entrepreneurship programs on the entrepreneurial intention of students in pre-university levels of study. Further, gender equity continues to be an issue in the entrepreneurial sector, particularly in STEM-focused entrepreneurship. In this context, this study was designed to explore the effects of a one-day female-focused STEM-based entrepreneurship program (for brevity, we call it the OzGirlsEntrepreneurship program) on the entrepreneurial intention of secondary school female students. The study collected data from two surveys completed by 193 secondary school female students, aged 14–16 years, who participated in the OzGirlsEntrepreneurship program. This program encouraged girls to develop and implement creative computational solutions to socially relevant problems, with an Internet of Things (IoT) component using the micro:bit device. The findings reveal that a key factor in the development of entrepreneurial attitudes in young female students is associated with soft-skills development, particularly in the areas of creative thinking, risk-taking, problem-solving, and leadership development. The importance of meaningful human connections, including positive role modelling and peer to peer learning were also important factors in fostering entrepreneurial intent. With these factors in mind, our findings highlight that the OzGirlsEntrepreneurship program substantially increased the entrepreneurial intention of secondary school female students. In addition, this study offers actionable implications and recommendations to develop and deliver entrepreneurship education programs for secondary school level students.

     

The impact of individual and institutional investor sentiment on the market price of risk

We examine the effect of individual and institutional investor sentiment on the market price of risk derived from DJIA and S&P500 index returns. Consistent with behavioral asset pricing models, we find significant positive response of rational sentiment suggesting greater incentive for rational investors to engage in arbitrage when the compensation for taking risk is greater. Further, an increase in irrational optimism leads to a significant downward movement, but an increase in rational sentiment does not lead to a significant change market price of risk. These results are robust for both market indexes, DJIA and S&P500 and for both individual and institutional investor sentiment.     

Identifying the factors determining the entrepreneurial ecosystem of internet cultural industries in emerging economies

The integration of the Internet and the real economy has propelled the formation of a new economy. Internet cultural industries—defined as a collection of industries that engage in creative cultural content, production, circulation, and services based on Internet technology and core digitization—are a critical part of this new economy. This study argues that the development of Internet cultural industries has created a new entrepreneurial ecosystem, which is a dynamic and open ecosystem impacted by numerous factors. Using a structural equation model (SEM) method, we empirically examine the factors impacting the entrepreneurial ecosystem of Internet cultural industries. We find that both external ecosystem factors, including politics, the economy, sociocultural activities, and technological environments, and internal ecosystem factors, including netizens, governments, enterprises, and media and industry associations, are verified to significantly affect the entrepreneurial ecosystem performance of Internet culture industries. Most interestingly, we find that the political environment is the most crucial factor impacting the entrepreneurial ecosystem performance of Internet cultural industries. Thus, Internet cultural industries should prioritize the improvement of good government governance. Overall, our study deepens the research on the Internet entrepreneurial ecosystem by identifying its internal and external determining factors in the context of emerging economies.

     

The impact of the US on Latin American business cycles: A new approach

Business cycles in Latin America have tended to be more volatile than those in wealthier nations such as the US. Accordingly, much research has been conducted on Latin business cycles, as well as the impact of the US on such fluctuations. Some research seeks to find how “integrated” cycles are in the US and Latin America, yielding conflicting results. We apply a new method to the question of business cycle synchronization between the US and nine Latin nations. We find that in the majority of cases integration has been rising in recent years. We also find, contrary to some previous studies, that integration does not appear to be affected by either the level of trade or of capital account openness. Finally, we find that the two countries that are dollarized – Ecuador and El Salvador – appear least integrated with the US. This last finding has potentially troubling implications in terms of the ability of these nations to adjust to asymmetric shocks vis-à-vis the US.     

The influence of individual characteristics on getting involved in an entrepreneurial team: The contingent role of individualism

International Entrepreneurship and Management Journal - A traditional stereotype of the entrepreneur is that of a lone hero. However, many entrepreneurs engage in new businesses as members of...     

A hierarchical perspective of the dimensions of entrepreneurial orientation

This study examines the hierarchical relationship between the three dimensions of entrepreneurial orientation (EO): proactiveness, innovativeness, and risk-taking. Information Processing Theory and Strategic Choice Theory were utilized to investigate the roles of both industrial munificence and opportunity perceptions in the formation of firm-level EO. Data collected from 227 organizations in four countries suggests that innovative and risk-taking behaviors are fundamentally driven by proactiveness and the perceived availability of opportunities in an industry. As such, proactiveness appears to be the leading and primary factor in encouraging and enabling the other dimensions of EO. The research and managerial implications of these findings are also discussed.