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on Entrepreneurship |
| By: | Jean P. Sepulveda; Claudio Bonilla (School of Business and Economics, Universidad del Desarrollo) |
| Abstract: | This paper departs from the traditional analysis of the effects of risk aversion in entrepreneurship to study the determinants of entrepreneurial risk aversion in developing a new venture and becoming an entrepreneur. We took fear of failing as a proxy for risk aversion and applied our analysis to the most important Latin American economies. We observed that being male, having more years of formal education and believing to have the necessary skills to develop a new venture decreased the probability of feeling a fear of failing and, thus, eventually increased the probability of developing a new venture. Age affects risk quadratically (first positively, but after some point, negatively), and if there is a prior experience of having shut down a business, risk aversion increases, that is, the probability of feeling a fear of failing, which reduces the probability of becoming an entrepreneur |
| Keywords: | Risk Aversion, Entrepreneurship, Fear of Failing |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:dsr:pastwp:18&r=ent |
| By: | Wajid Hasan Shah (United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)) |
| Abstract: | This policy brief discovers, for example, that SMEs are vital for growth and jobs in Bangladesh, accounting for 40 per cent of all employment. In comparison with large enterprises and microenterprises, SMEs have traditionally been underserved in terms of access to credit. However, more recently collateral-free loans through bank lending have become available to SMEs with the central bank’s growing focus on SME financing. Although official statistics suggest that the SME loan default rate is about two per cent, it is acknowledged that overall SME loan default figures in Bangladesh may have reached five or six per cent. |
| Keywords: | Small and medium enterprise, loan defaults, entrepreneurs, obstacles |
| JEL: | F1 |
| Date: | 2014–06 |
| URL: | http://d.repec.org/n?u=RePEc:unt:arpobr:apb41&r=ent |
| By: | Ebata, Ayako; Hüttel, Silke |
| Abstract: | The objective of this paper is to understand the mechanisms by which development projects facilitate market linkage of smallholder farmers based on panel data from Nicaragua. We find that activities related to entrepreneurial practices have positive and statistically significant effect on commercialization. We also find that increased commercialization is positively correlated with total bean sales income, suggesting a positive indirect effect of the activities. Other activities demonstrate no positive and robust effect on commercialization while direct positive effects on sales income can be observed. This implies that market linkage of smallholder farmers require different sets of intervention tools than traditional farm technical assistance. |
| Keywords: | Central America, NGO project, Market linkage, Impact Assessment, Food Security and Poverty, International Development, Marketing, O13, Q17, Q18, |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:ags:gagfdp:204326&r=ent |
| By: | Neuberger, Doris (Asian Development Bank Institute) |
| Abstract: | Germany’s bank-based financial system provides a high level of financial inclusion, measured by bank outreach and use of financial services. However, the most vulnerable individuals and small enterprises in Germany tend to be excluded or credit constrained. The quality of financial inclusion is impaired by a low level of financial literacy, which is also concentrated among specific population subgroups. The high level of financial inclusion can be attributed to relationship lending by public savings banks, credit cooperatives, public promotional banks, and guarantee banks using the “housebank” model, and financial consumer protection and credit reporting regulations and institutions. Programs involving microfinance institutions have been stopped. Financial inclusion of consumers with the aim of responsible finance may be improved by implementing the right to a basic bank account with an overdraft facility and protection against attachment, establishing public credit bureaus, redirecting banking regulation toward the protection of borrowers in long-term credit relationships, and strengthening financial education in schools. To foster entrepreneurship and access to funding for start-ups and innovative SMEs, entrepreneurship education and the venture capital market need to be further developed. |
| Keywords: | bank outreach; credit constraints; relationship lending; banking regulation; financial literacy |
| JEL: | G21 G28 I22 O16 |
| Date: | 2015–07–09 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbiwp:0530&r=ent |
| By: | Calabria, Alejandro A.; Rottenschweiler, Sergio |
| Abstract: | The creation of employment and its formalization is, undoubtedly, a controversial and relevant topic in Argentina. At present, a law project on this subject is under debate: "Promoting Registered Employment and Labor Fraud Prevention", whose aim is to promote employment and/or formalization of new employees, primarily in micro, small and medium-sized enterprises, through the reduction of employer contributions. This decrease in public incomes should be compensated by other sources in order not to affect severely the financing of social security. This paper discusses the contribution that small and medium-sized enterprises to the social security system and examines the impact of the reduction of employer contributions to the financing of social security. |
| Keywords: | Creación de empleo; PyMEs; impacto fiscal |
| JEL: | E62 H25 H32 J38 |
| Date: | 2014–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:65527&r=ent |