|
on Small Business Management |
| By: | Samuel Bazzi; Marc-Andreas Muendler; Raquel F. Oliveira; James Rauch; James E. Rauch |
| Abstract: | We explore how financial constraints distort the entry decisions among otherwise productive entrepreneurs and limit growth of promising young firms. A model of liquidity-constrained entrepreneurs suggests that the easing of credit constraints can induce more entry of firms with greater long-run growth potential than the easing of conventional entry barriers would bring about. We explore this growth mechanism using a large-scale program to expand the supply of credit to small and medium enterprises in Brazil. Local credit supply shocks generate greater firm entry but also greater exit with no effect on short-run employment growth in the formal sector. However, credit expansions increase average capability among entering firms, which enter at larger size, survive longer, and grow faster. These firm dynamics are more pronounced in areas with weaker credit markets ex ante and consistent with local bank branches using cheap targeted credit lines to expand lending more broadly. Our findings provide new evidence on the general equilibrium effects of credit supply expansions. |
| Keywords: | credit constraints, entry barriers, growth barriers, startups |
| JEL: | D21 D22 D92 L25 L26 M13 O12 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10672&r=sbm |
| By: | Stephanie Houle; Ryan Macdonald |
| Abstract: | Predicting which firms will grow quickly and why has been the subject of research studies for many decades. Firms that grow rapidly have the potential to usher in new innovations, products or processes (Kogan et al. 2017), become superstar firms (Haltiwanger et al. 2013) and impact the aggregate labour share (Autor et al. 2020; De Loecker et al. 2020). We explore the use of supervised machine learning techniques to identify a population of nascent high-growth firms using Canadian administrative firm-level data. We apply a suite of supervised machine learning algorithms (elastic net model, random forest and neural net) to determine whether a large set of variables on Canadian firm tax filing financial and employment data, state variables (e.g., industry, geography) and indicators of firm complexity (e.g., multiple industrial activities, foreign ownership) can predict which firms will be high-growth firms over the next three years. The results suggest that the machine learning classifiers can select a sub-population of nascent high-growth firms that includes the majority of actual high-growth firms plus a group of firms that shared similar attributes but failed to attain high-growth status. |
| Keywords: | Econometric and statistical methods; Firm dynamics |
| JEL: | C55 C81 L25 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:bca:bocawp:23-53&r=sbm |
| By: | Voloshinskaya, Anna (Волошинская, Анна) (The Russian Presidential Academy of National Economy and Public Administration); Gertsovskiy, Dmitry (Герцовский, Дмитрий) (The Russian Presidential Academy of National Economy and Public Administration); Ivanova, Margarita (Иванова, Маргарита) (The Russian Presidential Academy of National Economy and Public Administration); Semenova, Roza (Семенова, Роза) (The Russian Presidential Academy of National Economy and Public Administration); Zemtsov, Stepan (Земцов, Степан) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | Relevance of the research. In economics, a variety of approaches are used to study local entrepreneurial ecosystems - from statistical methods to network analysis, which allow to quantify the scale of a phenomenon or the magnitude of the potential effect. In the case when it is necessary to determine the key causes and factors of the process under study, the methodological tools of the scientist can be expanded through the methods of sociological survey of entrepreneurship. The results of the presented work will allow not only to expand the methodological apparatus of researchers of local SME ecosystems, but also to develop proposals for improving the effectiveness of state support measures for entrepreneurship in the regions of Russia. The aim of the study is to reveal the possibilities of using different methods to study entrepreneurship at the local level, as well as to analyze and generalize Russian and foreign experience in studying entrepreneurship. Research methods and methodology are comparative analysis, system analysis, qualitative analysis, historical and economic analysis. Scientific novelty is the author's classification of possible sociological approaches to the study of SMEs within local entrepreneurial ecosystems, as well as systematization of Russian and international empirical studies of entrepreneurship at the local level and identification of factors that stimulate business development. Results. Sociological methods, namely in-depth interviews, allow us to explore key causal relationships and offer new research hypotheses that can be further evaluated using statistical analysis methods. Achieving sustainable socio-economic development of the region will be facilitated by the implementation of targeted programs to support SMEs, taking into account regional institutional conditions and the specifics of the development of local entrepreneurial ecosystems. The key factors for the development of SMEs are the high volatility of markets, which motivates the development of new ideas for business, the availability of physical and commercial infrastructure. High risks for SMEs are associated with insufficient functional coordination of power structures, the lack of dialogue between business and government, the quality of government support measures implemented and business financing mechanisms. For start-up young entrepreneurs (under 30), the main barriers are the lack of start-up capital and the necessary business competencies, the lack of a business idea, and high taxes. |
| Keywords: | entrepreneurial ecosystem, SMEs, sociological research methods, regional economy |
| JEL: | M21 O18 |
| Date: | 2023–06–03 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w20220258&r=sbm |
| By: | Barinova, Vera (Баринова, Вера) (The Russian Presidential Academy of National Economy and Public Administration); Levakov, Pavel (Леваков, Павел) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The small and medium-sized businesses (SMEs) are the most vulnerable in times of crisis due to their scarce resources: financial, human, information etc., that is why the issues of providing support to entrepreneurs are relevant during crisis. The analysis of SMEs’ support international practices during recent economic crisis caused by COVID-19 infection might be used to form new approaches to supporting entrepreneurship in times of crises in Russia. The scientific novelty of the study lies in the analysis of foreign practices of supporting SMEs during the recent COVID-19 crisis. The purpose of this article is to summarize international experience in supporting SMEs in times of crisis. For this, the following objectives were set: the analysis of institutional, fiscal, monetary and regional measures of supporting entrepreneurs during the pandemic, as well as the analysis of the empirical works that access their effectiveness. General scientific methods are applied - generalizations, comparisons, synthesis, inductive approach. The authors come to the following conclusions: In response to the economic crisis caused by coronavirus, many countries have taken comprehensive measures to support small and medium-sized businesses; the most common are fiscal support measures, which include grants for entrepreneurs, direct investment, finance guarantees, temporary reimbursement of expenses and temporary tax holidays for entrepreneurs. According to the first empirical evidence, the most significant positive effect is caused by measures aimed at reducing the tax burden on entrepreneurs and compensating for their operating expenses. |
| Keywords: | small and medium entrepreneurship, economic crisis, international practices, COVID-19, government support, anti-crisis policy |
| JEL: | J78 O57 H25 L26 L52 H12 |
| Date: | 2023–07–27 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w20220244&r=sbm |
| By: | Abid Mustapha (LAREGMA - Laboratoire de Recherche en Economie, Gestion Management des affaires - FEG SETTAT - Faculté d’Économie et de Gestion de Settat); Douari Aziz (LAREGMA - Laboratoire de Recherche en Economie, Gestion Management des affaires - FEG SETTAT - Faculté d’Économie et de Gestion de Settat) |
| Abstract: | Small and Medium-sized Enterprises (SMEs) are an engine of economic growth in both developed and developing countries, but they often face financing difficulties due to the reluctance of traditional banks to grant them loans. For this reason, it is important to explore other sources of funding, such as participatory financing. This study, based on the financial data of 25 Moroccan SMEs between 2018 and 2022, compared the profit rate obtained through participatory financing (Moucharaka) with that obtained through a bank loan. The results showed that Moucharaka is an effective solution for improving the economic performance of Moroccan SMEs. |
| Abstract: | Les PME sont un moteur de croissance économique dans les pays développés et en développement, mais elles rencontrent souvent des difficultés de financement en raison de la réticence des banques traditionnelles à leur accorder des prêts. Pour cette raison, il est important d'explorer d'autres sources de financement, telles que la finance participative. Cette étude, basée sur les données financières de 25 PME marocaines entre 2018 et 2022, a comparé le taux de profit obtenu grâce à la finance participative (Moucharaka) avec celui obtenu par un crédit bancaire. Les résultats ont démontré que la Moucharaka est une solution efficace pour améliorer la performance économique des PME marocaines. |
| Keywords: | Participatory Financing, Dispersion Ratio, Produits Moucharaka, Finance participative, Petite ou moyenne entreprise, Ratio de dispersion, African Scientific Journal, Ratio de dispersion Moucharaka Products, Small or Medium Enterprise, Produits Moucharaka Finance participative Petite ou moyenne entreprise Ratio de dispersion Moucharaka Products Participatory Financing Small or Medium Enterprise Dispersion Ratio |
| Date: | 2023–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04209305&r=sbm |
| By: | Green, David A. (University of British Columbia, Vancouver); Liu, Huju (Statistics Canada); Ostrovsky, Yuri (Statistics Canada); Picot, Garnett (Institute for Research on Public Policy, and Research and Evaluation Branch, Immigration, Refugees and Citizenship Canada) |
| Abstract: | Firm ownership is a dening feature of immigrant adaptation: 41% of immigrants own a firm at some point in their first 10 years post-arrival. We use Canadian data linking immigrant arrival records with individual and firm tax data to examine the process of entering firm ownership for immigrants. Higher immigrant firm ownership rates are mainly due to nonincorporated firm ownership, which looks like a last resort. Human capital plays no role in the opening of preferable, incorporated firms. Immigrants are not more entrepreneurial in terms of opening incorporated firms with employees, and standard policy levers appear to have limited effects. |
| Keywords: | immigration, entrepreneurs, human capital |
| JEL: | J61 |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16515&r=sbm |
| By: | Leila Benslimane (UCA - Université Cadi Ayyad [Marrakech]); Salah Eddine Kartobi (UCA - Université Cadi Ayyad [Marrakech]); Abdessamad Ejjiar (UCA - Université Cadi Ayyad [Marrakech]) |
| Abstract: | This article aims to examine the impact of the COVID-19 pandemic on business model innovation and adaptation within Morocco's insurance industry. Employing a multiple case study approach involving six insurance firms, the study assesses the crisis's influence on firm performance during the initial pandemic year. Data was collected through comprehensive online surveys and semi-structured interviews, investigating the implementation of innovative and adaptive business models. The findings demonstrate that the crisis significantly drove business model innovation and adaptation for the firms. Moreover, firms that successfully incorporated more adaptive elements demonstrated improved performance. This research underscores the importance of business model innovation and adaptation in navigating crises and enhancing resilience. It contributes to the limited literature on the COVID-19 impact on the insurance sector, shedding light on strategies that foster enduring success amid challenging circumstances. |
| Keywords: | Business model innovation, Business model adaptation, Covid-19, Crisis, Insurance |
| Date: | 2023–10–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-04229797&r=sbm |
| By: | Guarascio, Dario; Reljic, Jelena; Stöllinger, Roman |
| Abstract: | This study provides evidence of the employment impact of AI exposure in European regions, addressing one of the many gaps in the emerging literature on AI's effects on employment in Europe. Building upon the occupation-based AI-exposure indicators proposed by Felten et al. (2018, 2019, 2021), which are mapped to the European occupational classification (ISCO), following Albanesi et al. (2023), we analyse the regional employment dynamics between 2011 and 2018. After controlling for a wide range of supply and demand factors, our findings indicate that, on average, AI exposure has a positive impact on regional employment. Put differently, European regions characterised by a relatively larger share of AI-exposed occupations display, all else being equal and once potential endogeneity concerns are mitigated, a more favourable employment tendency over the period 2011-2018. We also find evidence of a moderating effect of robot density on the AI-employment nexus, which however lacks a causal underpinning. |
| Keywords: | Artificial intelligence, industrial robots, labour, regional employment, occupations |
| JEL: | J21 J23 O33 R1 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:1333&r=sbm |
| By: | Alvaro Pina Stranger (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique); Germán Varas (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique); Valentin Gerard (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The link between entrepreneur's network centrality and innovation performance has been broadly studied in knowledge-intensive industries such as biotechnology. However, little research has been focused on the social mechanisms that allow innovators to reach such a central position. We contribute to the existing literature by exploring the factors that may lead or prevent entrepreneurs from reaching a central position in their professional networks of knowledge exchange and social support in French biotech milieu. We use a unique quantitative and qualitative database of 138 and 126 biotech entrepreneurs observed, respectively, in 2008 and 2013. When accounting for entrepreneurs' position in the social (friendship) and knowledge (advice) domain, we draw on three dimensions through which entrepreneurs build their position: their professional experience, their inter-organizational (or political) engagement, and the financial and geographical situation of their company. Results from a regression analysis showed that the specific individual and organizational aspects of the trajectory of the entrepreneurs explain their position in the observed networks. Factors such as the previous experience in the health industry, the training expertise, the international experience, the political engagement, and the geographical and financial situation of the company help entrepreneurs to build up their centrality. The two observations allow us to describe indirectly the evolution of norms that are considered legitimated to carry out innovation in the biotech field. |
| Keywords: | centrality, biotechnology industry, advice network, friendship network, entrepreneurs, innovation |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04223156&r=sbm |
| By: | Nam, Jinyoung; Kim, Junghwan; Jung, Yoonhyuk |
| Abstract: | Artificial intelligence (AI) startups are utilizing artificial intelligence technology to produce novel solutions across a multitude of sectors, becoming key players in the AI business ecosystem, signifying AI business networks consisting of technology, business applications, and various industry sectors. Particularly noteworthy is the substantial surge in the initiation and investment in AI startups within South Korea. To gain insight into the AI business ecosystem, this study explores how the ecosystem is collectively understood from AI startups' perspectives in South Korea. We conducted semi-structured interviews with 16 CEOs and managers in AI startups in South Korea. This study conducted a core-periphery analysis of the social representation of the AI business ecosystem. By doing so, it bridges an existing knowledge gap and enriches the body of research related to the AI business ecosystem, as well as the current opportunities and challenges it faces. Our findings not only inform and guide practitioners, governments, and businesses alike, but also suggest that continuous discussion among government agencies, large tech companies, and AI startups is crucial for establishing a more sustainable AI business ecosystem. |
| Keywords: | Artificial intelligence (AI), AI startups, AI business ecosystem, Social representations theory |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse23:278005&r=sbm |
| By: | Campi, Mercedes; Dueñas, Marco; Ciarli, Tommaso |
| Abstract: | Do creative industries have positive spillovers for the local economy in middle-income countries, for instance by attracting creative workers who benefit entrepreneurs and workers in other industries? Creative industries are considered highly innovative and productive and several studies in high-income countries have revealed such spillovers. However, the institutional and economic settings in middle-income countries may not be as conducive to them. Creative industries represented between 2.7 and 3.3 percent of Colombian employment in 2008 and 2017. Using granular employment data, we study their agglomeration patterns between 2008 and 2017. We nd agglomeration in the largest cities (Bogota, Medellin, and Cartagena) and in a few smaller cities. Using methodologies from prior studies yields a positive relationship between creative industry agglomeration and employment in non-creative services industries. However, after controlling for endogeneity using a shift-share instrumental variable approach, we nd, contrary to analyses of high-income countries, no signicant impact of an increase of creative industries employment on employment growth in other industries. |
| Keywords: | agglomerations;employment growth;Colombia |
| JEL: | Z18 O10 D62 |
| Date: | 2022–02 |
| URL: | http://d.repec.org/n?u=RePEc:idb:brikps:11995&r=sbm |
| By: | Michael Fritsch (Friedrich Schiller University Jena, Germany); Alina Sorgner (John Cabot University Rome, Italy, Institute of Labor Economics (IZA), and Kiel Institute for the World Economy (IfW Kiel)); Michael Wyrwich (University of Groningen, The Netherlands, and Friedrich Schiller University Jena, Germany) |
| Abstract: | We propose an extension of the standard occupational choice model to analyze the life satisfaction of senior entrepreneurs as compared to paid employees and particularly retirees in Germany. The analysis identifies income and health status as main factors that shape the relationship between occupational status and life satisfaction. Senior entrepreneurs enjoy higher levels of life satisfaction than retirees and senior paid employees. This higher life satisfaction is mainly due to their higher income. Physical and mental health play a crucial role in determining both an individual’s occupational status and their overall life satisfaction. We find that senior self-employed report to be healthier compared to other groups of elderly individuals. However, when controlling for health, retirees exhibit an even higher level of life satisfaction compared to their self-employed counterparts. Heterogeneity analysis of various types of senior entrepreneurs and senior paid employees confirms this general pattern. In addition, we find some evidence indicating that senior entrepreneurs may compromise their leisure time, a main asset of retired individuals. Implications for research, policy, and practitioners are discussed. |
| Keywords: | Senior entrepreneurship, health conditions, well†being, life satisfaction, age |
| JEL: | L26 I31 J10 D91 |
| Date: | 2023–10–20 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2023-016&r=sbm |
| By: | David R. DeRemer (Nazarbayev University, Graduate School of Business); Yelzhas Kadyr (KU Leuven, Faculteit Economie en Bedrijfswetenschappen, Vlaams Instituut voor Economie en Samenleving (VIVES)); Aigerim Yergabulova (Nazarbayev University, Graduate School of Business) |
| Abstract: | Kazakhstan was the top destination country for Russian immigrants in 2022, a year when Russian emigration sharply increased due to new international sanctions and war mobilization. The circumstances offer a rare opportunity to explore how a large sudden skill-abundant immigration within an economic union affects firm employment dynamics for a middle-income receiving country. Kazakhstan and Russia share the world's longest continuous land border, so immigration effects are regionally dispersed rather than concentrated solely in cities, and Kazakhstan offers business registers data to explore firm-level employment dynamics. Absent fine regional data on immigration flows, our empirical approach uses a pre-war share of the Russian population in 215 districts of Kazakhstan as a reduced-form instrument for the treatment of Russian immigration. We find no pre-war trends in firm employment growth related to the Russian district population shares. Using difference-in-differences estimation, we find large effects of 2022 Russian immigration on the employment growth for Kazakhstan's incumbent firms in more affected regions. The employment growth is larger for small firms, young foreign-owned firms, older domestic firms, and ICT firms, and results are robust to the exclusion or inclusion of Kazakhstan's two major cities of Almaty and Astana. We estimate that Kazakhstan's regions, excluding the two major cities, would have experienced a private sector employment fall of 86, 500 in 2022 rather than the actual increase of 21, 500 if Russian immigration flows had not occurred. |
| Keywords: | gender pay inequality, occupations, foreign ownership, Kazakhstan |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:asx:nugsbw:2023-09&r=sbm |
| By: | Jameel, Alaa S. (Cihan University-Erbil); Harjan, Sinan Abdullah; Ahmad, Abd Rahman |
| Abstract: | The purpose of this study is to examine the measure the Behavioral intentions (BI) to use artificial intelligence (AI) among managers in small and medium enterprises. the targets population of this study was the SMEs managers in Baghdad City after ensuring that the managers were using some form of AI. 184 valid questionnaires have been analyzed by Smart-PLS. The results indicated that performance expectancy (PE), Social influence (SI), Facilitating Conditions (FC), and Top management support (TMS) have a positive and significant impact on behavioral intention to use AI among the managers in SMEs; on the other hand, the effort expectancy (EE) has an insignificant impact on behavioral intention to use AI among the managers. |
| Date: | 2023–07–10 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:w69yh&r=sbm |
| By: | Mendieta-Aragón, Adrián; Rodríguez-Fernández, Laura; Navío-Marco, Julio |
| Abstract: | This research analyses how tourists using digital sharing economy platforms have behaved in the European Union, whether there are differences between European regions and how they have evolved with the pandemic. Using spatial econometric techniques, this study provides a comparative analysis, in space and time, that identifies regional inequalities in terms of the intensity of demand for accommodation offered on digital sharing economy platforms. In particular, different clusters of high intensity of collaborative tourism have been detected, and spatial spillover effects and interdependencies of European regions in collaborative tourism have been recognised, finding a positive spatial autocorrelation in the intensity rate of collaborative tourism. An effect of tourist destination saturation on the use of accommodation offered on digital sharing economy platforms has also been observed. Several digital public policy implications have been discussed, promoting regulatory coordination at the interregional and pan-European levels to avoid inequalities and imbalances across Europe. |
| Keywords: | Digital tourism, platforms' economy, digital policies, European regions, sharing, ESDA, spatial models |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse23:278002&r=sbm |
| By: | Postigo, Antonio |
| Abstract: | While Thailand enjoys self-sufficiency in many of the vaccines it needs, when COVID-19 hit, the country’s R&D preparedness and response were not strong enough to develop vaccines in a timely manner. And amid supply shortages after COVID-19 vaccines were developed, Thailand, like the rest of ASEAN, initially relied on vaccines produced elsewhere. Thailand ranks high among ASEAN countries in many indicators of R&D inputs and outputs. However, its R&D and innovation systems are not yet sufficiently developed to translate vaccine R&D inputs into patents that can then lead to new vaccines. Public and private pharmaceutical firms in Thailand conduct vaccine R&D in the national immunisation programme in collaboration with universities and research institutes in Thailand and abroad. Thailand is also home to many international and domestic contract research organisations. ASEAN has launched several initiatives to strengthen its biomedical R&D infrastructure and human resources, build a network of research centres across the region, and promote cooperation in R&D among ASEAN members, ASEAN’s Dialogue Partners, the United States, and the European Union. Thailand and ASEAN can strengthen their vaccine security by pooling and coordinating their financial and scientific resources to address diseases of regional concern. |
| JEL: | R14 J01 |
| Date: | 2023–02–23 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120303&r=sbm |
| By: | Tong Guo (Fuqua School of Business, Duke University, 100 Fuqua Drive, Durham, NC 27708); Boya Xu (Fuqua School of Business, Duke University, 100 Fuqua Drive, Durham, NC 27708); Daniel Yi Xu (Department of Economics, Duke University, 213 Social Science Building, 419 Chapel Drive, Durham, NC 27708) |
| Abstract: | We study the early-stage adoption of impossible meat products by local businesses, overcoming the common challenges in understanding new product entries via local intermediaries: 1) empirically tracking intermediary decisions at scale in a timely manner is difficult if not at all impossible; 2) marketing communications for the innovation is largely endogenous to unobserved demand shocks, making it hard to causally identify the driving factors behind the innovation adoption. Focusing on the key producers in their US market debut between 2015-2019, we construct a novel location-specific adoption metric that accurately measures the decisions of local intermediaries, and link it to comprehensive marketing communication extracted from social media corpus using Natural Language Processing. Using an identification strategy interacting the global shocks in news content with pre-determined local shares of topic-specific news consumption, we find that local news mentioning the innovation increases the regional adoption of impossible meat products by intermediaries. Interestingly, news content about producer financials appears to be as important as content about sustainability in driving local adoption of impossible meat products. We conjecture that financial news plays a role in boosting the perceived market potential of the innovation both by signaling the trustworthiness of the technology (thus lower uncertainty) and by reinforcing the trendiness of the technology (thus providing free marketing to small businesses who adopted the innovation). We further explore news topic heterogeneities by socio-economic conditions and timing. |
| Keywords: | innovation, new product entry, entrepreneurship, social media marketing, news, sustainability, health, natural language processing, topic modeling |
| JEL: | C14 C81 D40 L10 L11 M31 O33 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:net:wpaper:2306&r=sbm |
| By: | Ali-Yrkkö, Jyrki; Pajarinen, Mika |
| Abstract: | Abstract Several policy instruments can be used to increase research and product development (R&D). This brief focuses on companies’ views on the impact of these instruments based on a company survey. According to companies, the most influential instruments for increasing R&D of companies would be R&D tax incentives, increasing R&D grants and improving the availability of skilled labor. Corporate taxation was more important for domestic than for foreign companies. Instead, the costs of R&D employees were more important for foreign companies. When interpreting the results, it should take into account that they are based on companies’ subjective views. |
| Keywords: | R&D, Innovation, Globalization, Foreign ownership, Foreign company |
| JEL: | O31 O38 |
| Date: | 2023–10–23 |
| URL: | http://d.repec.org/n?u=RePEc:rif:briefs:126&r=sbm |
| By: | de Mildt, Maarten; Verbrugge, Sofie; Colle, Didier |
| Abstract: | The concept of data-driven ecosystems is proposed as a solution to manage increasingly complex data processes. A common narrative is that, using an ecosystem approach, an increased amount of data will be available, of higher quality, and this will lead to an increase in innovation. Even though these benefits seem promising at first, it is not standard practice yet. A critical look at the way the market is implementing this concept was needed. A market analysis was performed, linking ecosystem types to benefits expected in theory, and offered in practice by ecosystem initiator services. Three main ecosystem types, based on their scope, were identified and analysed: 1) singleorganisation ecosystems, 2) application domain specific ecosystems and 3) cross-domain ecosystems. This revealed two main insights. On the one hand, achieving the innovation potential remains a challenge, especially for more broadly scoped ecosystems. On the other hand, the services offered in the more broadly scoped ecosystems, do support this potential. Therefore, providing an answer to the question "how do theoretic benefits hold true in practice?". |
| Keywords: | data-driven ecosystem, data ecosystem, ecosystem initiator, benefit analysis, value offering, market analysis |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse23:277952&r=sbm |
| By: | Abir Attahiri (Laboratoire de Recherche en Finance, Comptabilité, Gestion et Systèmes d’Information d’Aide à la Décision - Ecole nationale de commerce et de gestion settat); Mohamed Makhroute (Laboratoire de Recherche en Finance, Comptabilité, Gestion et Systèmes d’Information d’Aide à la Décision - Ecole nationale de commerce et de gestion settat) |
| Abstract: | Leveraged Buyout (LBO) structures hold a pivotal place within the regulated private equity ecosystem in Morocco, despite their limited development and the challenges they face. In comparison to the stock exchange market, these structures continue to demonstrate robust performance. Build upon agency theory, which delves into the relationships between owners and managers within firms, this study primarily aims to deeply examine how leverage and governance influence value creation in these transactions. The adopted methodology is qualitative, based on semi-structured interviews with six LBO sector experts in Morocco. This methodological choice is justified by the exploratory nature of the research, allowing for in-depth analysis and understanding of the nuances and practices in this specific domain. Moreover, exploratory questions drawn from existing literature were employed to guide the inquiry and steer discussions. Results derived from this qualitative approach highlight a discernible and significant impact that these two factors - leverage and governance - exert on the wealth creation process. The theoretical contributions of this research enrich the understanding of LBOs in Morocco by emphasizing the importance of financial leverage, transparent governance, and alignment of interests for the success of these transactions. On a practical level, it offers valuable insights for investors, managers, and professionals in the Moroccan LBO sector. However, it is essential to consider the inherent limitations of this research, including the small sample size and the qualitative nature of the interviews. |
| Abstract: | Les montages de Leveraged Buyouts (LBO) occupent une place cruciale au sein de l'écosystème du capitalinvestissement régulé au Maroc, malgré leur développement limité et les défis auxquels ils font face. En comparaison avec les marchés publics, ces montages continuent de présenter une performance robuste. Fondée sur la théorie de l'agence, qui explore les relations entre propriétaires et gestionnaires au sein des entreprises, cette étude vise avant tout à examiner profondément comment l'effet de levier et la gouvernance influencent la création de valeur dans ces transactions. La méthodologie adoptée est qualitative, basée sur des entretiens semistructurés avec six experts du secteur des LBO au Maroc. Ce choix méthodologique est justifié par la nature exploratoire de la recherche, permettant une profondeur d'analyse et une compréhension des nuances et des pratiques de ce domaine spécifique. De plus, des questions exploratoires tirées de la littérature existante ont été employées pour orienter l'enquête et guider les échanges. Les résultats issus de cette démarche qualitative mettent en évidence un impact discernable et significatif que ces deux facteurs - l'effet de levier et la gouvernance - exercent sur le processus de création de richesse. Les apports théoriques de cette recherche enrichissent la compréhension des LBO au Maroc en soulignant l'importance de l'effet de levier financier, de la gouvernance transparente et de l'alignement des intérêts pour le succès de ces transactions. Sur le plan pratique, elle offre des perspectives précieuses pour les investisseurs, les gestionnaires et les professionnels du secteur des LBO au Maroc. Cependant, il est primordial de prendre en compte les limites inhérentes à cette recherche, notamment la taille limitée de l'échantillon et le caractère qualitatif des entretiens. |
| Keywords: | Leveraged buyouts, indebtedness, corporate governance, value creation, agency theory, Achat à effet de levier, endettement, gouvernance d’entreprise, création de valeur, théorie d’agence |
| Date: | 2023–09–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04223533&r=sbm |
| By: | Jeremy Hervelin (Université de Cergy-Pontoise, THEMA) |
| Abstract: | This study investigates the retention rate of young people in firms that offer apprenticeship positions. While the majority of training firms hire apprentices with the aim of retaining them when the contract ends, only a small proportion of youths actually transition into full-time employment in the same firm. To explain this phenomenon, I rely on a tractable model that incorporates firm decision-making processes, enabling an analysis of the retention rate. By estimating the productivity distribution of apprentices based on observed wage data from French surveys, the findings indicate that training firms, on average, benefit more from separating from apprentices rather than hiring them as workers. |
| Keywords: | Firm retention, Productivity, Apprenticeship, Maximum Likelihood |
| JEL: | J24 M53 M51 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ema:worpap:2023-14&r=sbm |
| By: | Hiroshi FUKUYAMA; HASHIMOTO Yuki |
| Abstract: | This study aims to describe the history of the Technical Intern Training Program. Since its establishment in the early 1990s, this program has expanded and become indispensable for small and medium-sized enterprises, despite being criticized for the gap between its intended purpose and operation, human rights violations, and other issues. As the program has been frequently revised over its thirty-year history, it becomes increasingly difficult to take account of and review its history. We provide a comprehensive overview, covering not only the Technical Intern Training Program but also related policies such as the Foreign Trainee Program and the unrealized Employment Permit System, which played some roles in the prehistory of the Program. This study is expected to be used as a reference for policymakers and researchers. |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rpdpjp:23019&r=sbm |
| By: | Commander, Simon; Estrin, Saul; De Silva, Thamashi |
| Abstract: | It is acknowledged that Asia’s remarkable economic achievements of the past 50 years build on institutional arrangements very different from the West, including the central role of business groups (BGs) as an organisational form. As the Asian economies move from extensive to intensive growth, we enquire whether the BG format will be as effective going forward, especially with respect to innovation. We argue that the ubiquity of BGs in Asia has been associated with the accretion of significant market power, as well as high overall concentration in the economy as a whole. Our empirical work draws on a sample of more than 9000 Asian firms across seven countries. We find that, unsurprisingly, given their access to additional resources, BGs are more innovative than non-affiliates. However we also find that the wider consequences of the BG form for innovation may be negative. |
| Keywords: | innovation; R&D; Asian business groups; market power; overall concentration |
| JEL: | O53 L22 O30 |
| Date: | 2023–09–05 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120082&r=sbm |
| By: | Jamison, Mark A.; Wang, Peter |
| Abstract: | We examine broadband's impacts on entrepreneurship, income, and employment in general and separately by gender and for whites versus minorities in the U.S. for 2000 - 2019. Using Current Population Surveys and matching, we find that broadband access significantly impacted the decision to be self-employed until at least 2012. Broadband access also reduced unemployment and increased earnings. It generally benefitted women and minorities more than men and whites, but not always. Broadband was particularly effective for minority males and females during the years up to and immediately following the Great Recession. These findings are consistent with the idea that broadband may dampen gender and racial bias. The effects of broadband generally diminish as adoption increases, consistent with the belief that late adopters benefit less than early adopters. |
| Keywords: | broadband, entrepreneurship, discrimination, income, unemployment |
| JEL: | L86 L26 J71 L53 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse23:277974&r=sbm |
| By: | Leon Bremer (Vrije Universiteit Amsterdam) |
| Abstract: | When merging firms across large databases in the absence of common identifiers, text algorithms can help. I propose a high-performance fuzzy firm name matching algorithm that uses existing computational methods and works even under hardware restrictions. The algorithm consists of four steps, namely (1) cleaning, (2) similarity scoring, (3) a decision rule based on supervised machine learning, and (4) group identification using community detection. The algorithm is applied to merging firms in the Amadeus Financials and Subsidiaries databases, containing firm-level business and ownership information, to applicants in PATSTAT, a worldwide patent database. For the application the algorithm vastly outperforms an exact string match by increasing the number of matched firms in the Amadeus Financials (Subsidiaries) database with 116% (160%). 53% (74%) of this improvement is due to cleaning, and another 41% (50%) improvement is due to similarity matching. 18.1% of all patent applications since 1950 are matched to firms in the Amadeus databases, compared to 2.6% for an exact name match. |
| Keywords: | Fuzzy name matching, supervised machine learning, name disambiguation, patents |
| JEL: | C81 C88 O34 |
| Date: | 2023–10–12 |
| URL: | http://d.repec.org/n?u=RePEc:tin:wpaper:20230055&r=sbm |