The aim of this paper is to investigate public fi nance sustainability for a selected group of ten Central and Eastern European countries. In order to assess the fi scal sustainability of these countries we extend standard analyses typically used for developed countries to our group of ten CEE countries. To assess fi scal sustainability we use panel stationarity and cointegration tests, as well as estimates of certain parameters of fi scal reaction functions. Our research shows that despite the fi nancial turmoil, CEE countries demonstrate the existence of a long-term relationship between revenues and expenditures and they have statistically relevant parameters of the fi scal reaction function. This indicates that the public fi nances in CEE countries are sustainable despite the crisis. However, the analysed group of countries shows sustainability only in a weak sense, which may pose a threat to public fi nances in the future.

The aim of this study is to explore and elaborate the concept of hybrid entrepreneurship, i.e., a simultaneous mix of self-employment (entrepreneurship) and salary employment. Lazear’s theory of entrepreneurship is assessed in terms whether it can explain the phenomenon of being a hybrid entrepreneur. The hypothesis is that the probability of linking a salary job with one’s own business increases with the variety and level of education gained, the broadness of professional and management experience but also the level of entrepreneurial self-efficacy. The hypotheses are tested with multivariate logistic regression, using survey data gathered from 1600 entrepreneurs. In light of the results, Lazear’s theory cannot be unambiguously extended to the case of hybrid entrepreneurs. Although the probability of being a hybrid entrepreneur increases with broader professional and managerial experience, at the same time it diminishes as the level and diversity of education increase. The results suggest that hybrid entrepreneurs are an importantly discrete population and therefore need to be treated separately. The theoretical and practical implications of the results are discussed.

Thriving entrepreneurship is a necessary condition of long-term sustainability in all modern economies. However, many entrepreneurs-to-be fail to take real actions in their transition from dreamers to doers. In this paper, we demonstrate that there are significant gaps in the current understanding of the important pre-entrepreneurship stages of starting new companies. In particular, these gaps include a proper understanding of moderators such as procrastination, commitment, and acquiring entrepreneurial knowledge from informal and unstructured sources. A promising way to fill these gaps is researching a promising yet little-known group – wantrepreneurs. Our qualitative study of a group of wantrepreneurs who seriously consider becoming entrepreneurs but fail to take any concrete steps allowed us to propose a number of hypotheses in this area and propose an extension of the Entrepreneurial Event Model.

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