Showing papers by "Zoltan J. Acs published in 2014"

Global entrepreneurship and institutions: an introduction

Abstract: This article is an introduction to the special issue from the 4th Global Entrepreneurship Monitor Research Conference held at Imperial College Business School, London, in 2010. The article has two objectives. The first is to summarize the history of the GEM consortium, some of the contributions that it has delivered, and some challenges and opportunities ahead. The second is to present a summary of the papers in the context of the utility of GEM data in comparative entrepreneurship research.

REDI: The Regional Entrepreneurship and Development Index –Measuring regional entrepreneurship Final report

Abstract: The main outcome of the project is a new index (REDI - Regional Entrepreneurship and Development Index) that describes the entrepreneurial process. The index takes into account both individual attitudes and characteristics and the regional context and, accordingly, not only whether people are willing to start a business but whether the conditions to do so are in place in the region concerned. The index is composed of three sub-indices covering entrepreneurial attitudes, abilities and aspirations. Each of the sub-indexes has an individual component (relating to the individual decision making behaviour) and an institutional component (relating to the context). Entrepreneurial attitudes indicate the attitudes of the population in a region as they relate to entrepreneurship, including elements such as perception of opportunities and risks, cultural support and networking. These are measured by indicators of market agglomeration, social capital and the extent of corruption. Entrepreneurial abilities measure characteristics of entrepreneurs and business start-ups with high growth potential, such as the take-up of technology, the level of human capital and the degree of market competition. The index contains both individual-level and institutional or environmental indicators, which reflect the regional context. For example, a factor such as the perception of risk is the outcome of combining an institutional factor (the actual business risk faced by a start-ups as measured by the business closure rate) and an individual one (the personal acceptance of risk by entrepreneurs, measured by the proportion of the population aged 18-64 stating that the fear of failure would not prevent them starting a business).

The Continued Search for the Solow Residual: The Role of National Entrepreneurial Ecosystem

Abstract: This paper introduces a new concept in addition to the traditional measures of stocks of capital, labor, human capital and knowledge, to understand the Solow Residual: National Entrepreneurial Ecosystem (NEE). The NEE construct is based on a methodology that combines institutions and human agency into an interdependent system, applying the configuration theory. We argue that NEE affects the efficiency by which inputs are turned into outputs shifting the production function. We use data from a representative global survey and institutional sources to test the model for a cross section of 62 counties over the period 2006-2010 to test this proposition.

Identifying the Obstacles to High-Impact Entrepreneurship in Latin America and the Caribbean

Abstract: High-impact companies are a very important source of economic and job growth. Identifying the drivers and barriers behind their development is key to developing a sound supporting policy framework. The Global Entrepreneurship and Development Index (GEDI) can interpret and measure entrepreneurial capacity as a systemic phenomenon. For that reason it provides a powerful means of assessing regional entrepreneurial performance. This paper begins by analyzing GEDI results in order to draw a picture of how well entrepreneurship systems perform in Latin America and the Caribbean. The lessons drawn from this analysis are deepened through the qualitative analysis of nine case studies on the creation and development of successful high-impact companies in the region.

The Continued Search for the Solow Residual: The Role of National Entrepreneurial Ecosystem

Abstract: This paper introduces a new concept in addition to the traditional measures of stocks of capital, labor, human capital and knowledge, to understand the Solow Residual: National Entrepreneurial Ecosystem (NEE). The NEE construct is based on a methodology that combines institutions and human agency into an interdependent system, applying the configuration theory. We argue that NEE affects the efficiency by which inputs are turned into outputs shifting the production function. We use data from a representative global survey and institutional sources to test the model for a cross section of 62 counties over the period 2006-2010 to test this proposition.

Institutional Drivers of Informal Entrepreneurship

Abstract: There is increasing scholarly interest in informal entrepreneurship. We empirically examine how institutions interact to influence the informal entrepreneurship. Using a novel multi-source dataset we test institutional drivers of informal entrepreneurship in 28 innovation-driven countries during 2004-2011. Our results show that cognitive institutions inhibit informal entrepreneurship. Contrary to received wisdom in the literature, we find no relationship between regulatory institutions, normative institutions and the rate of informal entrepreneurship in innovation-driven countries. We find that regulatory institutions moderate the influence of cognitive institutions on informal entrepreneurship. Our study on informal entrepreneurship advances knowledge on heterogeneous entrepreneurial outcomes.

A vállalkozási tevékenység regionális különbségei Magyarországon a regionális vállalkozási és fejlődési index alapján

Abstract: Jelen tanulmanyban a globalis vallalkozasi es fejlődesi index modszertananak regionalis szintre adaptalasaval vizsgaljuk a het magyar NUTS2 szintű regio vallalkozasi teljesitmenyet. A komplex, nem a hagyomanyos vallalkozoi aktivitason alapulo regionalis vallalkozasi es fejlődesi index funkcioja a vallalkozasi teljesitmenyek regionalis kulonbsegeiert felelős egyeni es kulső kornyezettel osszefuggő tenyezők rendszerenek feltarasa. A vizsgalat az ugynevezett szűk keresztmetsze tert tortenő buntetes modszeret alkalmazza a vallalkozasi tevekenyseget regionalis szinten akadalyozo, visszafogo tenyezők feltarasara. A nemzetkozi vizsgalatba bevont 83 orszaggal osszevetve, Magyarorszag vallalkozasi teljesitmenye kozepesnek tekinthető. A magyar regiok kozul vallalkozasi teljesitmenye alapjan egyedul Kozep-Magyarorszag emelkedik ki, a tobbi hat regio e teren elmarad az orszagot jellemző atlagos ertektől. Az orszagos szintű es a regionalis vizsgalatok elterő problemakat es gazdasagpolitikai beavatkozast igenylő teruleteket mutatnak. A regionalis szintű vallalkozasi es fejlődesi mutatoval mert vallalkozas fő problemait elsősorban a lakossag gyenge kepessege a lehetősegek felismeresere es vallalkozasinditasra, tovabba a vallalkozok alacsony szintű iskolazottsaga, a rosszul megvalasztott versenystrategia es a vallalkozoi torekvesek (alacsony innovacios aktivitas) magyarazzak. A vizsgalat eredmenyei alapjan regios szintű vallalkozaspolitikai javaslatokat teszunk, segitve ezzel a politikai donteshozokat a szűkosen rendelkezesre allo erőforrasok optimalis felhasznalasaban.* Journal of Economic Literature (JEL) kod: L26, R11, R58.