entrepreneurship

This paper studies what initial resource endowments new organizations assemble and the interaction between initial resources, entrepreneurial orientation and environmental factors. More specifically, They study the initial resources of research-based start-ups (RBSUs), which are defined as new firms that develop and market new products or services based upon a proprietary technology or skill.

According to the authors, data from three different research programs, all measuring the prevalence rate of new firm creation in the U.S. adult population, suggest that from 1993 to 2002 the level of entrepreneurship may have increased up to three fold, from 4 to over 13 percent. Of those 18-74 years of age - a shift from one in twenty adults to one in six adults.

The authors evaluate the impact of bank loans and start-up subsidies on the survival of the new firms, using the SINE94 survey that provides rich information on the entrepreneurs and their start-up projects.

The paper investigates whether social norms play an important role in the decision to become an entrepreneur. The authors study whether the individual decision to become an entrepreneur or entrepreneurial income are affected by the decisions of other individuals living in the same municipality.

The authors analyze the principal objectives and constraints of small and medium enterprises (SME) using data from a survey of 437 top managers of SMEs in Russia and Bulgaria. The analysis indicates that characteristics of the entrepreneur, the firm and the firms environment are important but determinants of which constraints are most important vary.

The authors analyze the principal objectives and constraints of small and medium enterprises (SME) using data from a survey of 437 top managers of SMEs in Russia and Bulgaria. The analysis indicates that characteristics of the entrepreneur, the firm and the firms environment are important but determinants of which constraints are most important vary.

The paper proposes and analyses a model of start-up investment. Innovative entrepreneurs are commercially inexperienced and can benefit from venture capital support. According to the authors, only part of them succeed in matching with a venture capitalist while the rest must resort to standard bank finance. A number of policies to promote entrepreneurship and venture capital backed innovation are considered.

The paper considers the implications of asymmetric information in capital markets for entrepreneurial entry and tax policy. The authors policy conclusion is that subsidies for the foundation of firms must be based on reasons other than informational asymmetries in capital markets.

The paper surveys the various forms of market failure that can arise when innovating entrepreneurs consider entering an industry, and outlines possible implications for public policy.

The authors explore the lack of a well established venture capital industry in Europe, which been identified as a major cause for the want of European entrepreneurial companies with a strong innovative potential.