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on Entrepreneurship |
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Issue of 2005‒02‒01
four papers chosen by Marcus Dejardin Facultés Universitaires Notre-Dame de la Paix |
| By: | Andre van Stel; Martin Carree; Roy Thurik |
| Abstract: | Entrepreneurial activity is generally assumed to be an important aspect of the organization of industries most conducive to innovative activity and unrestrained competition. This paper investigates whether total entrepreneurial activity influences GDP growth for a sample of 36 countries. We test whether this influence depends on the level of economic development measured as GDP per capita. Adjustment is made for a range of alternative explanations for achieving economic growth by incorporating the Growth Competitiveness Index. We find that entrepreneurial activity affects economic growth, but that this effect depends upon the level of per capita income. This suggests that entrepreneurship plays a different role in countries in different stages of economic development. |
| Keywords: | Entrepreneurial activity, economic growth, economic development |
| JEL: | L16 M13 |
| URL: | http://d.repec.org/n?u=RePEc:esi:egpdis:2005-04&r=ent |
| By: | Ambec, S. |
| Abstract: | This paper examines an entrepreneur-investor relationship in a stylized model where (i) investment needs are unknown ex ante and arise sequentially (ii) a major decision must be reached at a maturity strage, (iii) this decision depends on entrepreneur's private information, observable by the investor at some cost. The two partners agree on a corporate governance system which includes a split of futre cash-flows and an allocation of control on the above decision contingently on investment. It turns out that control is assigned to the entrepreneur for low investment levels and then switches to the investor when investment exceeds a threshold. ...French Abstract : Cet article analyse une relation entrepreneur-investisseur dans une modèle stylisée dans lequel (i) les besoins financiers, inconnus ex ante, se présentent de manière séquentielle, (ii) une décision majeure doit être prise à la maturité du projet, (iii) cette décision dépend d'une information privée détenue par l'entrepreneur mais observable par l'investisseur à un certain coût. Les deux partenaires s'entendent sur un système de gouvernance incluant un partage des cash-flow futurs et une allocation du contrôle sur la décision contingentement à l'investissement. L'article montre que le contrôle doit être confié à l'entrepreneur pour des niveaux d'investissement faible, mais qu'il doit être transféré à l'investisseur lorsque l'investissement dépasse un certain seuil. |
| Keywords: | CONTINGENT CONTROL; CORPORATE GOVERNANCE; VENTURE CAPITAL; BIOTECHNOLOGY |
| JEL: | G24 G32 L22 |
| Date: | 2004 |
| URL: | http://d.repec.org/n?u=RePEc:rea:gaelwp:200406&r=ent |
| By: | Keld Laursen; Ammon Salter |
| Abstract: | The strategies firms use to protect their intellectual property and knowledge can strongly influence their ability to capture the benefits of their innovative efforts. In attempting to appropriate their innovations, firms can chose from a range of mechanisms, including patents, trade secrets and lead times. Yet, little is known about how the use of different appropriability mechanisms may shape innovative performance. Using a large-scale database of UK manufacturing firms, we examine how legal (such as patents) and first mover (such as secrecy) appropriability strategies shape performance. We find that both strategies are curvilinearly (taking an inverted U-shape) related to innovative performance, indicting that some firms may suffer from a myopia of protectiveness, relying too heavily on appropriation to the detriment of other activities. |
| Keywords: | Appropriability; Intellectual property rights; Innovation; Innovative Performance |
| JEL: | C24 O32 O34 |
| Date: | 2005 |
| URL: | http://d.repec.org/n?u=RePEc:aal:abbswp:05-02&r=ent |
| By: | Andre van Stel |
| Abstract: | This paper presents a harmonized data set over the period 1972-2002, containing two-yearly data on the number of non-agricultural business owners and the size of the labour force for 23 OECD countries, as well as the quotient of these two variables which is called the business ownership rate of a country. The data set is called COMPENDIA, which means COMParative ENtrepreneurship Data for International Analysis. It has been constructed making use of OECD statistics as well as other relevant sources. We make an attempt to make business ownership rates comparable across countries and over time. |
| Keywords: | cross-country data, harmonizing data, business ownership |
| JEL: | C82 M13 O57 |
| URL: | http://d.repec.org/n?u=RePEc:esi:egpdis:2005-05&r=ent |