This paper attempts to reconcile the risk-bearing characterization of entrepreneurs with the stylized fact that entrepreneurs exhibit conventional risk aversion profiles. The authors propose that the disparity arises from confounding two distinct dimensions of uncertainty: demand uncertainty and ability uncertainty
This paper sheds light on microeconomic sustainability after complete financial liberalisation was implemented in Argentina during the 1990s. The main conclusion of the study is that there was an increase in speculative behaviour which was unconnected to entrepreneurial behaviour based on investment in fixed assets.
Why do people become part-time entrepreneurs? Are they credit constrained? Previous studies on entrepreneurship do not deal with part- timers. In contrast, a recent survey on the establishment of new businesses reports that 80 percent of nascent entrepreneurs also hold regular wage jobs. Empirical findings show that part-time entrepreneurs do not appear to be constrained.
This paper examines how the allocation of entrepreneurial effort within a country is influenced by the country’s institutional environment. The authors hypothesize that the likelihood that entrepreneurs launch a growth-oriented start-up is associated with the institutional environment in which entrepreneurs are embedded.
The objective of this paper is to relate entrepreneurship to a theory of the human mind, setting both within an evolutionary perspective.
A multinomial logit model and survey data from the 25 EU member states and the US are used to establish the effect of demographic and other variables on various entrepreneurial engagement levels.
This paper develops a model in which the interaction of entrepreneurial investments and power of the owners of land or other natural resources determines structural change and economic development.
Twelve papers are presented in three different tracks, each of them illuminating a different perspective on the role and relevance of private equity for starting and growing new ventures.
The authors argue that passive policies can achieve much greater gains in entrepreneurship. Passive policies require little or no direct government intervention into the entrepreneurial process and instead promote an entrepreneur-friendly policy environment, according to the report.
Joseph Schumpeter argued in Capitalism, Socialism and Democracy that the rise of large firms’ investments in in-house R&D spelled the doom of the entrepreneurial innovator. The authors explore this idea by analyzing the career patterns of successive cohorts of highly productive inventors from the late nineteenth and early twentieth centuries. They find that over time highly productive inventors were increasingly likely to form long-term attachments with firms.