第１章 ＧＥＭ調査の概要（分析の枠組み；調査方法；起業活動の定義；起業活動率；起業活動と経済成長；起業の計画と失敗） 第２章 起業家と事業特性（起業家の背景；起業家の能力；事業特性；起業家教育） 第３章 起業の環境（社会的資源；起業家に対する評価；経済危機の影響；起業活動の投資環境） 第４章 専門家調査（資金調達；政府の方針；支援プログラム；教育システム；技術移転；コマーシャル・サービス；起業文化；事業機会；経営能力；起業家に対する評価；女性への支援；急成長への注目；イノベーションへの関心；調査結果） 第５章 政策への提

起業と経済成長 : global entrepreneurship monitor調査報告

Understanding the small business sector

A double-edged sword.

https://link.springer.com/content/pdf/10.1057%2Fpalgrave.ces.8100210.pdf

Multinational Firms in the World Economy

The Nature of Prejudice

Purpose – This paper seeks to examine the impact of firms' technological capability and other firm and environmental characteristics on the growth of small and medium‐sized enterprises (SMEs) in six transition countries at different stages of transition. It compares three advanced Central Eastern European countries (Poland, Hungary, and Czech Republic) with three laggard countries in South Eastern Europe (Albania, Macedonia, and Serbia and Montenegro).Design/methodology/approach – A theoretical framework is proposed based on three groups of factors influencing SME growth: innovative and entrepreneurial features of the firm, characteristics of the firm, and those related to the institutional/business environment. Subsequently this paper uses the Business Environment and Enterprise Performance Survey (BEEPS) conducted by the World Bank/EBRD in 2002 and 2005 to test a number of hypotheses regarding the determinants of SME growth.Findings – The two groups of countries have similarities and differences: both d...

/pdf/entrepreneurship-and-sme-growth-evidence-from-advanced-and-26ug5th0py.pdf

Entrepreneurship and SME growth: evidence from advanced and laggard transition economies

This study investigates the barriers to growth of small- and medium-sized enterprises (SMEs) in Kosova. It is based on a SME survey conducted by Riinvest Institute at the end of 2002 which identified critical business environment barriers perceived by entrepreneurs such as legal environment, administrative burden, external financing, tax burden and unfair competition. First, based on this SME survey, the econometric model is constructed in order to test empirically the validity of Gibrat's Law. Then, in order to identify and measure the impact of current reported business environment barriers on SME growth, the Gibrat's Law is augmented with other business environment variables. The econometric results suggest that firms' growth is negatively linked to firms' size and age, suggesting that Gibrat's Law does not hold for growing SMEs in Kosova. Also, the growth of the SMEs is reduced by the presence of the business environmental barriers such as tax burden, unfair competition and inadequate financing. Econometric results raise important issues and policy implications for the development of the SME sector in Kosova.

Barriers to entrepreneurship and sme growth in transition: the case of kosova

High-growth firms (HCF) represent a highly desirable subset of firms, which provide disproportionate economic gains, and greater insight into their determinants which is of interest to policymakers, scholars and business owners. We contribute to the literature on HGFs, which is largely absent of cross-national institutional studies, by examining the institutional conditions driving HGFs in 26 transition countries over a long period comprising three panels between 1998 and 2009. Using an institutional hierarchy approach, we test for the influence of formal and informal institutions on HGF prevalence in countries. Our analysis relies first on a principal component analysis to identify institutional factors. Second, we use GLS estimation to test the influence of these three factors on HGF prevalence in a country, followed by a robustness check. Our results show that interaction effects, rather than direct effects, are useful in explaining systematic variations in HGFs prevalence in transition economies. We find that the interaction between formal and informal institutions positively influences HGFs. Further, we find that in fast-reforming transition economies, more burdensome formal institutions discourage HGFs but in slow-reforming transition economies, informal institutions encourage HGFs.

Institutional drivers of high-growth firms: country-level evidence from 26 transition economies

This article uses firm level data from an SME survey conducted by Riinvest Institute in 2006 in order to examine the determinants of obtaining bank finance conditional upon applying. The results of the survey show that not all the firms receive credit they apply for, suggesting a slight excess of demand over supply of credit. Unlike some other studies in transition economies this article corrects for sample selection bias. Econometric evidence indicates that commercial banks base their decision to loan firms primarily on the basis of collateral. Well performing firms are more likely to ask for credit because of better business prospects in the future, but profitability as a measure of firm performance does not seem to be sufficient signaling for banks in order to allocate credits. Banks seems to prefer more to secure themselves from likely opportunistic behavior of potentially “bad borrowers” with use of collateral. Findings are in line with theoretical and empirical arguments that systematic use of collateral can mitigate the adverse selection by banks in choosing whom to allocate the credit especially in country with turbulent political environment and weak property right system. However, unlike other studies findings suggest that the rhetoric of financial constraints to some extent has been exaggerated in a transition context.

Are small firms really credit constrained? Empirical evidence from Kosova

Drawing on concepts from earlier theories of firm growth (Gibrat’s Law -GL, Jovanovic’s Learning Theory- JLT, Resource Based View-RBV, and Institutional Theory-IT) this paper empirically tests the large sets of variables as predictors of small firm growth that accounts for wide range of factors affecting small firm growth in Kosova (human capital, institutional quality, and managerial capacities). Using data from a sample of 1606 entrepreneurs based on three pooled SME surveys this study controls for potential biases in other studies in transition economies (TEs) that overlooked internal factors compared to institutional factors. Findings based on Probit and Tobit models show that growth aspirations, managerial capacities and training are among the most significant variables associated with growth. Among the institutional quality variables, only corruption appears to be significant and negatively associated with growth. Other important factors for explaining a small firm growth are firm size and age, and export involvement. This study contributes to literature on small firms growth in TEs and highlights several managerial and policy implications to foster a small firm growth.

Besnik A. Krasniqi

Papers

Entrepreneurship and SME growth: evidence from advanced and laggard transition economies

Barriers to entrepreneurship and sme growth in transition: the case of kosova

Institutional drivers of high-growth firms: country-level evidence from 26 transition economies

Are small firms really credit constrained? Empirical evidence from Kosova

Small firm growth in a post-conflict environment: the role of human capital, institutional quality, and managerial capacities