Financial and Institutional Reforms for an Entrepreneurial Society

Economidou, Claire; Grilli, Luca; Henrekson, Magnus; Sanders, Mark

doi:10.1007/s11187-018-0001-0

Cited by 19 publications

(13 citation statements)

References 48 publications

(53 reference statements)

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“…These findings are compatible with results of other studies, e.g. Levie and Autio (2011), Economidou et al (2018), Bosma et al (2018), and Chowdhury et al (2018).…”

Section: Resultssupporting

confidence: 93%

“…So, the perceived effectiveness of new policies positively influences firms' entrepreneurial orientation. Moreover, according to Economidou et al (2018), formal institution index positively impacts venture capital activity. In this research, the formal institution index is a composite variable which is generated by factorization from several indicators including governmental effectiveness, rule of law, political stability, voice and accountability, regulatory quality, and control of corruption.…”

Section: Theoretical Partmentioning

confidence: 99%

“…It is of a particular interest for policymakers to find a way to foster entrepreneurial activity by taking into account variations on the education, regulation, and financial systems. However, Economidou et al (2018) argue that more fundamental reforms are required to improve the business system. Peck et al (2018) studied the ways in which growth-oriented SMEs are affected by regulations based on case studies from North-West England.…”

Section: Theoretical Partmentioning

confidence: 99%

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The impact of the public sector on the quality of the business environment in the SME segment

Belás¹,

BELAS²,

Čepel³

et al. 2019

AMP

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Small and medium-sized enterprises (SMEs) are an essential part of every country's economic system. The quality of the business environment plays an important role in this regard. The aim of the paper was to define and quantify important public sector factors influencing the quality of the business environment in the SME segment and to compare the intensity of the defined factors between the Czech Republic (CR) and the Slovak Republic (SR). In regards to the defined aim, a survey-based research was conducted with enterprises operating in the SME segment. 312 enterprises in CR and 329 enterprises in SR were approached during this research. The scientific hypotheses were verified using the methods of Pearson statistics. The evaluation of political factors is quite negative in both countries. Only 15% of Czech and 20% of Slovak entrepreneurs positively evaluated the level of legislation in business. Both Czech and Slovak entrepreneurs see state's support of export quite positively. Only 12% of Czech and 22% of Slovak entrepreneurs positively evaluated the administrative burden on enterprises. Entrepreneurs in both countries claim that the state is unable to provide qualified workforce for businesses. Most significant differences between the two countries were found in the evaluation of state bureaucracy which the Slovak entrepreneurs evaluated more positively than their Czech counterparts. The results of the research show the need to deal with urgent issues, or create a better system of public factors influencing the business environment.

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“…These findings are compatible with results of other studies, e.g. Levie and Autio (2011), Economidou et al (2018), Bosma et al (2018), and Chowdhury et al (2018).…”

Section: Resultssupporting

confidence: 93%

Section: Theoretical Partmentioning

confidence: 99%

Section: Theoretical Partmentioning

confidence: 99%

See 1 more Smart Citation

The impact of the public sector on the quality of the business environment in the SME segment

Belás¹,

BELAS²,

Čepel³

et al. 2019

AMP

View full text Add to dashboard Cite

show abstract

“…In this line, Dai and Si (2018) argued that the effectiveness of new policies positively impacts entrepreneurial orientation. According to a study administrated in 18 EU countries, formal institutions (governmental effectiveness, the rule of law, political stability, voice and accountability, regulatory quality, and control of corruption) positively influence venture capital activity (Economidou, Grilli, Henrekson, & Sanders, 2018).…”

Section: Literature Reviewmentioning

confidence: 99%

Exploring the associations between institutional constraints and entrepreneur’s perception in future business climate

Çera

Rózsa

2019

Proceedings of 6th International Scientific Conference Contemporary Issues in Business, Management and Economics Engineering ‘2

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Purpose – although many studies emphasise that institutional environment shapes business activity, yet it is not clear enough how legal environment, tax administration and stimulation policies are associated with entrepreneur’s perception in the future business climate. This paper seeks to explore these associations in the context of a post-communist transition country. Research methodology – the research takes an institutional perspective, and its analysis is conducted on a firm-level data collection through a face-to-face survey. Kruskal-Wallis test followed up by Jonckheere-Terpstra and Mann-Whitney tests, were employed in a dataset of 404 firms operating in Albania. Findings – the analysis offers important insights into the nature of entrepreneurship in a post-communist setting. It was found a significant association between future business climate and legal environment and tax administration. Between stimulation policies and business climate was reported an insignificant association. High levels in the legal environment and tax administration lead to the less favourable future business climate. Research limitations – though Albania has similarities with other transition countries in terms of regional, economic and political environments, the generalisation of these results to another context is limited. Originality/Value – this research provides insights for scholars studying entrepreneurship in institutional transformation contexts, and it contributes to the accumulation of knowledge on transition countries by focusing on the little-studied case of Albania.

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“…Indeed, only few markets beyond the US (e.g., Israel, Sweden, UK) have really matured (Economidou et al, 2018).…”

Section: Introductionmentioning

confidence: 99%

Why do entrepreneurs refuse venture capital?

Croce

Grilli

Murtinu

2018

Industry and Innovation

Self Cite

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Despite the evidence on the positive effect of venture capital (VC) on portfolio firm performance, such evidence badly pulls up alongside the non-negligible number of entrepreneurial firms that chooses to refuse VC. This is the first study that investigates the determinants behind the missed realizations of VC investor-investee dyads by focusing on the Italian VC market. We theorize and empirically document that entrepreneurs' human capital background and venture-specific characteristics influence the decision to accept or refuse VC. Specifically, our findings show that technically literate founders decrease the likelihood to refuse VC while family linkages in the ownership structure increase the likelihood to refuse VC.

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Financial and Institutional Reforms for an Entrepreneurial Society

Abstract: In this paper, we introduce the special issue

Cited by 19 publications

References 48 publications

The impact of the public sector on the quality of the business environment in the SME segment

The impact of the public sector on the quality of the business environment in the SME segment

Exploring the associations between institutional constraints and entrepreneur’s perception in future business climate

Why do entrepreneurs refuse venture capital?

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