Property Rights and Finance

Johnson, Simon; McMillan, John; Woodruff, Christopher

doi:10.1257/000282802762024539

Cited by 789 publications

(308 citation statements)

References 17 publications

(4 reference statements)

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“…In line with the four studies discussed above, in a study based on entrepreneurship based on transition countries in Eastern Europe, Johnson et al (2002) find that the insecurity of property rights may be a key factor deterring entry in the small firm sector. North has argued that insecure property rights result in using technologies that employ little fixed capital and that firms will typically be small (North 1990, p. 65).…”

Section: Hypothesessupporting

confidence: 61%

Institutions, Finance and the Level of Development: the Impact on Entrepreneurship in Transition

Aidis

Estrin

Mickiewicz

2010

REI

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Abstract:We investigate the impact of institutions on entrepreneurial entry, based on a large cross-country sample, combining working age population data generated by the GEM project with macro level indicators. Our four key findings indicate that: (a) institutional obstacles to entrepreneurship have different impact in rich countries compared to poor countries; (b) institutional obstacles have a stronger impact on 'opportunity entrepreneurship' than on 'necessity entrepreneurship'; (c) two institutional indicators -property right protection and access to finance -appear to have a dominant impact on entrepreneurship; (d) institutions have a long term impact. More than ten years after the Soviet system imploded in Central and Eastern Europe, these countries still experience significantly lower levels of entrepreneurship than economies coming from different legal traditions.JEL classification: L26, P14, P51, P37

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Section: Hypothesessupporting

confidence: 61%

Institutions, Finance and the Level of Development: the Impact on Entrepreneurship in Transition

Aidis

Estrin

Mickiewicz

2010

REI

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“…Safavian, Graham andGonzalez-Vega (2001, p. 1220) Anecdotal evidence on whether managers answer this way is mixed. Johnson, McMillan, and Woodruff (2002, p. 1337-1338 report one respondent told an interviewer that he understood that the question was really asking about his own firm. During field interviews in Zambia, however, when asked whether bribes were sometimes needed (i.e., question J7) several managers explicitly noted that although they do not pay bribes-often giving reasons why they do not-they know other firms do (Note 4).…”

Section: Asking Firms About Corruptionmentioning

confidence: 99%

What Do Managers Mean When They Say ‘Firms Like Theirs’ Pay Bribes?

Clarke¹

2012

IJEF

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It is difficult to get firm managers to answer questions on corruption honestly. Because of this, most surveys ask about corruption indirectly-asking whether corruption is a problem or whether 'firms like this one' pay bribes. Most studies interpret managers' responses to indirect questions as if they were answering about their own behavior. This might not be the case, however. This paper uses data from a survey of construction contractors in Afghanistan to look at how managers respond to indirect questions. We show that firms that are averse to paying bribes to win government contracts, and so do not bid for them, are more likely to say that firms like theirs pay bribes at other times. If managers answer the general indirect questions on corruption thinking about their own actions, we would expect that firms that are averse to paying bribes to win contracts would also be averse to paying bribes at other times. One explanation for the counterintuitive result is that firms answer the indirect questions as asked-about what they believe other firms are doing. This has important implications for studies that use indirect questions to assess what types of firms pay bribes.

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“…131 See Johnson et al (2002) who investigates new firms in the post-communist countries. 132 Bandiera (2003), and Milhaupt and West (2000).…”

Section: Taxationmentioning

confidence: 99%

Entrepreneurship and Public Policy

Henrekson

Stenkula

2010

Handbook of Entrepreneurship Research

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Abstract: Public policy is currently shifting from SME policy towards entrepreneurship policy, which supports entrepreneurship without directing attention to quantitative goals and specific firms or employment groups. The institutional framework set by public policy affects the prevalence and performance of both productive entrepreneurship and so-called high-impact entrepreneurship in turn. Although varying contexts and economic systems make prescribing a general panacea impossible, a number of relevant policy areas are identified and analyzed. Independent of environment, productive entrepreneurship should be rewarded and unproductive entrepreneurship should be discouraged. Successful ventures must also have the incentive to continue renewing themselves just as it must be easy to start and expand a business. In particular, we analyze regulatory entry and growth barriers, labor market regulation, liquidity constraints and tax policy at length. Terms of use: Documents in EconStor may

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Property Rights and Finance

Cited by 789 publications

References 17 publications

Institutions, Finance and the Level of Development: the Impact on Entrepreneurship in Transition

Institutions, Finance and the Level of Development: the Impact on Entrepreneurship in Transition

What Do Managers Mean When They Say ‘Firms Like Theirs’ Pay Bribes?

Entrepreneurship and Public Policy

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