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on Entrepreneurship |
| By: | Fabiano Schivardi (Bocconi University); Claudio Michelacci (EIEF) |
| Abstract: | We study how the educational composition and the return to education of US entrepreneurs has evolved since the late 80's. The fraction of entrepreneurs with a college degree has increased, while the fraction of entrepreneurs with a post-college degree has remained stable over time at around one third. The premium of having a college degree relative to a high school degree has increased, but roughly as much as the analogous premium for workers. The premium for postgraduate education relative to college education has increased substantially more for entrepreneurs than for workers: now an entrepreneur with a post-graduate degree earns more than twice us much as he used to earn in the 90's. The analogous percentage increase for entrepreneurs with a college degree is just 50 percent. The sharp increase in the skill premium for entrepreneurs with post-graduate education is partly due to the higher value of their businesses (in terms of dividend payments and firm valuation) and partly due to the greater speed at which they sell their businesses. The premium to post-graduate education has remained high during the Great Recession and is still present when looking at the higher deciles of the entrepreneurs income distribution. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:red:sed016:1163&r=ent |
| By: | Tavassoli, Sam (CIRCLE, Lund University); Jienwatcharamongkhol, Viroj (Department of Economics, Lund University) |
| Abstract: | This paper analyzes the role of various types of agglomeration externalities on the survival rate of entrepreneurial firms. In particular, we trace the population cohort of newly-established and self-employed Swedish firms in the Knowledge-Intensive Business Service (KIBS) sector in 1997 up to 2012 and investigate the role of Marshallian and Jacobian externalities on the survival of these firms. We find that only Jacobian externalities (diversity) is positively associated with the survival of entrepreneurial firms. Not all Jacobian externalities matter though. Only the higher the “related variety” of the region in which an entrepreneurial firm is founded, the higher will be the survival chance of the firm, while “unrelated variety” barely has any significant correlation. The result is robust after controlling for extensive firm characteristics and individual characteristics of the founders. The main message here is: for a newly-established entrepreneurial firm, not only it matters who you are, but also where you are. |
| Keywords: | Entrepreneurial firms; region; agglomeration externalities; survival analysis; related variety; unrelated variety |
| JEL: | J24 L26 R12 |
| Date: | 2016–10–19 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2016_028&r=ent |
| By: | Erno Tornikoski (MTS - Management Technologique et Strategique - Grenoble École de Management (GEM)); Christophe Bonnet (GDF - Gestion, Droit et Finance - Grenoble École de Management (GEM)); Bérangère Deschamps (UGA IAE - Institut d'Administration des Entreprises - Grenoble - UGA - Université Grenoble Alpes); Gilles Lecointre (Gilles Lecointre PME Conseils); Mickael Buffart (MTS - Management Technologique et Strategique - Grenoble École de Management (GEM)) |
| Abstract: | This document reports the situational analysis of business transfer ecosystem in France as it stands in early 2015. In France there are no dedicated public datasets about ownership transfers. Ownership transfers can be deduced from different sources (e.g. Insee, Infogreffe, Diane, etc.), which result slightly different numbers about realized business transfers. Depending on the source, there are around 50 000 potential firms to be transferred each year in France (including all sizes, types, and industries). The French statistic organism (INSEE) does not count the creation of holding to the purpose of buying a target as transfers but as creations from scratch. Some of the key actors of the SME ownership transfer market carry out surveys about the ecosystem. For example, CNCFA and Epsilon Research survey the ownership transfer market each year since 2010. DG Tresor (governmental organization), Groupe BPCE (private bank), CRA (National association for SME transfers), and BPI France (a public investment bank) also publish reports and studies about ownerships transfers in France. The material for this report comes from these above secondary sources and interviews with some of the key actors in the SME ownership transfer market. The interviewed actors were AFIC (Association Français des Investisseurs pour la Croissance), CCI (Chamber of Commerce and Industry), CNCFA (Syndicat des Professionnels des Fusions et Acquisitions), CRA (Cédants et Repreneurs d’Affaires), CGPME (Confédération générale des petites et moyennes entreprises), and Reseau Entreprendre Isère. The interviews were carried out by the authors of this report. Each interview produced a mini-case about an actor in the SME markets. The mini-cases can be found from the appendixes of this report. To put the business transfers in its proper context, there were around 3.14 million firms (non-agricultural) in France in 2011, of which 243 were big, 5 000 mid-size, 138 000 SMEs, and 3 million micro-firms. On average there are 500-550 000 new entries (of which around 5% employ more than one person) and 50-60 000 exists each year in France. |
| Keywords: | business transfer ecosystem, France |
| Date: | 2015–05–27 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01335664&r=ent |
| By: | Katchova, Ani L.; Ahearn, Mary Clare |
| Abstract: | This study uses a linked-farm approach (linking farms over time) and a cohort approach (farms that started operating in the same year) to determine exit rates conditional on the number of years a farm has been operating. Linear forecasting, moving-average forecasting, and using data from a later Census are used to re-estimate the number of new farms in their first year of operating. Using the linked-farm approach, an average annual entry rate of 7.5% and exit rate of 8.5% is estimated for 2007 to 2012, which vary based on the farmer’s lifecycle. The cohort approach shows that exit rates are lower than 4% for the first 40 years of operating a farm business and then exit rates gradually increase. Revised estimates of approximately 70-80,000 new farms entering each year are calculated, which are considerably higher numbers than the 30-40,000 new farm entrants participating in the Census of Agriculture. The linked-farm and cohort approaches are used to provide updated estimates for farm entry and exit using new Census data and to make comparisons with previous years. To our knowledge, this is the first study to provide revised estimates for new farm entrants into U.S. agriculture. |
| Keywords: | farm exits, farm entry, beginning farmers, Agricultural and Food Policy, Farm Management, |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:ags:eaa149:244950&r=ent |
| By: | Dellis, Konstantinos; Karkalakos, Sotiris |
| Abstract: | Technological growth, entrepreneurship, and unemployment influence each other in numerous ways, forming a trio of inter-related components, yet the literature has traditionally emphasized the endogenous determination of one or two components of this trio. In this study we intend to elaborate on the interrelationship between entrepreneurship, unemployment and economic growth in a dynamic context using vector auto-regressions (VAR) with panel data across 30 OECD countries for a period covering 1970 to 2011. We use data from the Compendia dataset for international entrepreneurship to estimate three equations: one each for entrepreneurship, growth, and unemployment. On the right-hand side (RHS) of each are lags of entrepreneurship, unemployment, and growth in our benchmark model, which we later enrich by including control variables according to the relevant literature. Each equation is estimated with Difference GMM and System GMM estimators. |
| Keywords: | entrepreneurship,growth,unemployment,propensity |
| JEL: | O4 |
| Date: | 2015–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:74660&r=ent |
| By: | Özak, Ömer |
| Abstract: | This research explores the effects of the geographical distance to the pre-industrial technological frontier on economic development. It establishes theoretically and empirically that there exists a persistent non-monotonic effect of distance to the frontier on development. In particular, exploiting a novel measure of the travel time to the technological frontier and variations in its location during the pre-industrial era, it establishes a robust persistent U-shaped relation between the distance to the pre-industrial technological frontier and economic development. Moreover, it demonstrates that isolation from the frontier has had a positive cumulative effect on innovation and entrepreneurial activity levels, suggesting isolation may have fostered the emergence of a culture conducive to innovation, knowledge creation, and entrepreneurship. |
| Keywords: | E02, F15, F43, N10, N70, O11, O14, O31, O33, Z10 |
| JEL: | E02 F15 F43 N10 O10 O11 O14 O25 O31 O33 Z10 |
| Date: | 2016–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:74737&r=ent |
| By: | Bauer, Fredric (Department of Chemical Engineering, Lund University); Coenen, Lars (CIRCLE, Lund University); Hansen, Teis (Department of Human Geography, Lund University); McCormick, Kes (IIIEE, Lund University); Palgan, Yuliya Voytenko (IIIEE, Lund University) |
| Abstract: | The concept of a bioeconomy can be understood as an economy where the basic building blocks for materials, chemicals and energy are derived from renewable biological resources. Biorefineries are considered an integral part of the development towards a future sustainable bioeconomy. The purpose of this literature review is to synthesize current knowledge about how biorefinery technologies are being developed, deployed, and diffused, and to identify actors, networks and institutions relevant for these processes. A number of key findings can be obtained from the literature. First, investing more resources in R&D will not help to enable biorefineries to cross the ‘valley of death’ towards greater commercial investments. Second, while the importance and need for entrepreneurship and the engagement of small and medium-sized enterprises (SMEs) is generally acknowledged, there is no agreement how to facilitate conditions for entrepreneurs and SMEs to enter into the field of biorefineries. Third, visions for biorefinery technologies and products have focused very much on biofuels and bioenergy with legislation and regulation playing an instrumental role in creating a market for these products. But there is a clear need to incentivize non-energy products to encourage investments in biorefineries. Finally, policy support for biorefinery developments and products are heavily intertwined with wider discussions around legitimacy and social acceptance. |
| Keywords: | bioeconomy; biorefineries; biorefinery technology; technological innovation systems |
| JEL: | L73 O33 Q23 Q55 |
| Date: | 2016–10–19 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2016_027&r=ent |
| By: | Nadine Levratto (EconomiX - UPOND - Université Paris Ouest Nanterre La Défense - CNRS - Centre National de la Recherche Scientifique, CEE - Centre d'études de l'emploi - M.E.N.E.S.R. - Ministère de l'Éducation nationale, de l’Enseignement supérieur et de la Recherche - Ministère du Travail, de l'Emploi et de la Santé); Evelyne Serverin (CEE - Centre d'études de l'emploi - M.E.N.E.S.R. - Ministère de l'Éducation nationale, de l’Enseignement supérieur et de la Recherche - Ministère du Travail, de l'Emploi et de la Santé) |
| Abstract: | The creation and the popularity of the auto-entrepreneur regime rests on the supposed absence of risk associated with this judicial status. By conditioning the payment of the social security contributions to the realization of a turnover, the legislator thought of eliminating any risk from deficit. However, the core theory of entrepreneur insists on the risky dimension associated with the creation of a business whereas, more recently, the multiform aspect of the risk has been enlightened. From this framework, and on the basis of sociological approach of the law, we propose to analyse a corpus made of 104 judicial decisions concerning auto-entrepreneurs. Our results clarify three families of risks. The first one is generated by the activity itself, the second group rises from the articulation with wage-earning and the third class results from the complexity of the rules. As the auto-entrepreneurs neither benefit from the protection of the legal entity, nor of the limited responsibility, they are thus confronted at significant risks that the levelling off of their income finally does not compensate. |
| Abstract: | La création et la popularité du régime de l'auto-entrepreneur reposent sur l'absence de risque associée à ce régime. En conditionnant le paiement des cotisations sociales à la réalisation d'un chiffre d'affaires, le législateur a pensé éliminer tout risque de déficit. Or, dès ses tous premiers stades, la théorie de l'entrepreneur insiste sur la dimension risquée de la création d'une entreprise alors que, plus récemment, le caractère multiforme du risque d'entreprise a été mis en avant. A partir de cette grille, et sur la base d'une approche sociologique du droit, nous proposons d'analyser un corpus de 104 décisions de justice impliquant des auto-entrepreneurs. Nos résultats mettent en lumière trois familles de risques qui peuvent se combiner. La première est engendrée par l'activité elle-même, la deuxième découle de l'articulation avec le salariat et la troisième résulte de la complexité des règles. Ne bénéficiant de la protection ni de la personnalité morale, ni de la responsabilité limitée, les auto-entrepreneurs sont donc confrontés à des risques importants que le plafonnement de leur revenu ne parvient finalement pas à compenser. Mots clefs : auto-entrepreneur, risque, théorie de l'entrepreneur, sociologie du droit Codes JEL : L21, L26, L53 The autoentrepreneur regime and the entrepreneurial risk |
| Keywords: | auto-entrepreneur, risque, théorie de l’entrepreneur, sociologie du droit |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01300226&r=ent |