The Global Entrepreneurship Monitor model combines insights on the allocation of effort into entrepreneurship at the national (adult working age population) level with literature in the Austrian tradition. The model suggests that the relationship between national-level new business activity and the institutional environment, or Entrepreneurial Framework Conditions, is mediated by opportunity perception and the perception of start-up skills in the population. We provide a theory-grounded examination of this model and test the effect of one EFC, education and training for entrepreneurship, on the allocation of effort into new business activity. We find that in high-income countries, opportunity perception mediates fully the relationship between the level of post-secondary entrepreneurship education and training in a country and its rate of new business activity, including high-growth expectation new business activity. The mediating effect of skills perception is weaker. This result accords with the Kirznerian concept of alertness to opportunity stimulating action.

Stages of growth models were the most frequent theoretical approach to understanding entrepreneurial business growth from 1962 to 2006; they built on the growth imperative and developmental models of that time. An analysis of the universe of such models (n = 104) published in the management literature showed no consensus on basic constructs of the approach, and no empirical confirmation of stages theory. However, by changing two propositions of stages theory, a new dynamic states approach was derived. The dynamic states approach has far greater explanatory power than its precursor, and is compatible with leading edge research in entrepreneurship.

Entry into entrepreneurship is a strategic act for individuals who seek an optimal way to exploit their human, social, and financial capital. Trade-offs associated with this choice are influenced by institutional conditions. We use signalling theory, employment choice theory, and theory on strategic entry to develop hypotheses on the effect of business regulations and rule of law on strategic and non-strategic entrepreneurial entry. Analysing a six-year panel of 54 countries, we find lighter burden of regulation associated with a higher rate and relative prevalence of strategic entrepreneurial entry. Rule of law moderates this effect such that regulation has a significant effect on strategic entry only when rule of law is strong. These findings are robust against alternative proxies. Implications are drawn for prospective entrepreneurs, existing organizations, policy, and further research.

This paper develops and tests hypotheses concerning the effect of migrant status and ethnicity on propensity to engage in entrepreneurship (defined as new business activity) at the individual level in the UK. The hypotheses are tested using bivariate analysis (Pearson tests of independence) and multivariate analysis (binary logistic regression). Bivariate analysis suggests that new business activity varies with migrant status and ethnicity. Multivariate analysis suggests that migration increases the odds of engaging in new business activity, that the independent effect of ethnicity is marginal, and that being a recent ethnic minority migrant decreases the odds, after controlling for other individual level factors. At the regional level, a preliminary analysis suggests that gross migration flow has a higher correlation with new business activity than other commonly used regional demographic or economic development measures. Copyright Springer Science+Business Media, LLC 2007entrepreneurship, migration, ethnicity, immigration, F22, J15, M13, O18, O52, L26.,

The effect of founder characteristics in attracting external investment and enhancing survival of new high-technology ventures is explored using human capital theory and signalling theory. We test the effect of founder characteristics on external investment in and survival of new high-technology ventures by tracking a random sample of 193 high-technology start-ups, all participants in the Israeli Technology Incubator Program. Founder's business management expertise and academic status attracted external investment, but founder's general technological expertise did not. Founder's business management expertise and general technological expertise positively affected venture survival, but founder's academic status did not. Possible implications for entrepreneurs, investors, policy and further research are discussed

We use data from Global Entrepreneurship Monitor to examine the act of entrepreneurial reentry by entrepreneurs who exit a failed business. We study reentry by mode of entry and by form of organizing. We find that in countries where the levels of stigma and regulatory conveyance of stigma markings were at their highest, entrepreneurs who exited failed businesses were less likely to reenter into entrepreneurial activity. Our finding suggests that negative social and economic sanctions that are associated with stigma markings speak only to one side of the entrepreneurship phenomenon. On the other side, stigma can function as a stimulus for entrepreneurs to defy the illegitimacy of the failed business and to actively seek out and engage in innovative behaviors that contribute to the overall diversity of entrepreneurial activities in their country.

Despite the significant role played by serial entrepreneurs in the entrepreneurial process, we know little about group differences in reentry decisions after business failure. Using an ecosystems framework and stigma theory, we investigate the variance in gender gaps related to the reentry decisions of 8,171 entrepreneurs from 35 countries who experienced business failures. We find evidence of persisting gender gaps that vary across ecosystem framework conditions of public stigma of business failure and public fear of business failure. Our findings shed new light on ecosystem inefficiencies that arise from multiple interactions between entrepreneurs and institutions.

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