Ambitious Entrepreneurship, High-Growth Firms, and Macroeconomic Growth

Stam, Erik; Hartog, Chantal; Stel, André van; Thurik, Roy

doi:10.1093/acprof:oso/9780199580866.003.0011

Cited by 57 publications

(30 citation statements)

References 45 publications

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“…The results confirmed our assumption that involvement in entrepreneurial activity by itself does not equate to higher development, as some other authors demonstrated (Caree et al, 2002;Wennekers et al, 2005). Our findings are in line with some prior studies (van Stel, Carree and Thurik, 2005;Stam et al, 2009), which found that entrepreneurship (TEA) has a stronger impact in high-income countries than in low-income countries, although Stam et al, (2011) found an opposite pattern. According to GEM, less developed countries show even higher levels of entrepreneurial activity with the prevailing low impact, necessity-driven type of entrepreneurship, whose contribution to economic development is smaller.…”

Section: {166}supporting

confidence: 94%

Building an Entrepreneurial Society: 25 Years of Entrepreneurship at FEB UM

Rebernik¹,

Hojnik²,

Crnogaj³

et al. 2018

Slovenian Entreprenurship Observatory

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Section: {166}supporting

confidence: 94%

Building an Entrepreneurial Society: 25 Years of Entrepreneurship at FEB UM

Rebernik¹,

Hojnik²,

Crnogaj³

et al. 2018

Slovenian Entreprenurship Observatory

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“…Fifth, it is very difficult to predict which firms will become high‐growth firms. Even though growth intentions are a necessary condition, and in that respect an important predictor of firm growth, most entrepreneurs with growth intentions do not actually realize them (Stam et al ), and most regression models on firm growth only explain a small fraction of the variation in growth rates (Coad ). Firm growth is likely to be largely a random process that remains hard to predict (Stam ).…”

Section: High‐growth Entrepreneurshipmentioning

confidence: 99%

Advancing Public Policy for High‐Growth, Female, and Social Entrepreneurs

Terjesen

Bosma

Stam

2015

Public Administration Review

Self Cite

169

133

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Findings from a large and growing body of entrepreneurship research offer insights for public policy and public officials and managers. Entrepreneurship policy is defined as measures undertaken to stimulate entrepreneurship in a region or country. The authors discuss generalizations from empirical research on three types of entrepreneurship activity that are vital for inclusive, sustainable economic growth: high-growth (stressing economic impact), female (inclusive impact), and social (sustainable impact) entrepreneurship. High-growth firms make up a small share of all entrepreneurial activity but create the majority of economic growth. Compared to their male counterparts, female entrepreneurs are fewer in number (one-third of all entrepreneurs) and tend to start ventures with lower financial capital and growth expectations. Social entrepreneurs generally have high levels of education and pursue social objectives, often remedying market failures with innovative solutions. For each entrepreneurship type, the authors provide a definition, empirical generalizations, and implications for public policy. Practitioner Points• A small group of high-growth firms provide the majority of new economic activities, hence policy makers are encouraged to focus on high-growth entrepreneurship rather than the creation of new firms and self-employment in general. • To stimulate high-growth firms, governments use a wide range of policy instruments directed at finance, labor market regulations, investment in new knowledge, and opening up new markets. • Public policy to support female entrepreneurship includes efforts to provide entrepreneurial education and training, entrepreneurial mentors and networks, and child care. • There is no "one-size-fits-all" blueprint for social entrepreneurship policy because of the vast differences in social venturing prevalence as well as legal and regulatory frameworks, access to financial resources, markets, and training. • Social entrepreneurship activity is facilitated by dedicated finance programs, which include community investment, program-related investment, and dedicated legal status.

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“…(2007) suggest that entrepreneurs with ‘high expectations for growth’ contribute more to national economic growth than entrepreneurs in general. This macroeconomic positive impact of growth‐oriented entrepreneurship can be observed in both low and high income countries (Stam et al. 2010).…”

Section: Introductionmentioning

confidence: 97%

Entrepreneurial quality and regional development: Characterizing SME sectors in low income areas

Fernández‐Serrano

Romero

2013

Papers in Regional Science

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This paper analyses the characteristics of SMEs in less‐developed areas in comparison with more advanced economies. The conceptual framework includes different factors making up the so‐called ‘entrepreneurial quality’ of the SME sector: the personal characteristics of the entrepreneurs (motivations and previous experience), different dimensions of the SMEs’ entrepreneurial orientation, and the patterns of the SMEs’ insertion in national and global value chains. The empirical analysis uses data of SMEs in four different Spanish provinces representing examples of low income economies and comparatively high income ones, respectively. Results show the SMEs in the low income economies to be characterized by a lower entrepreneurial quality.

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Ambitious Entrepreneurship, High-Growth Firms, and Macroeconomic Growth

Cited by 57 publications

References 45 publications

Building an Entrepreneurial Society: 25 Years of Entrepreneurship at FEB UM

Building an Entrepreneurial Society: 25 Years of Entrepreneurship at FEB UM

Advancing Public Policy for High‐Growth, Female, and Social Entrepreneurs

Entrepreneurial quality and regional development: Characterizing SME sectors in low income areas

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