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International Journal of Entrepreneurship and Small Business
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International Journal of Entrepreneurship and Small Business (172 papers in press)
Special Issue on: Business Transfers An Opportunity for Dialogue between Entrepreneurship and Family Business Research
Abstract: The impact of business transfer on family business performance is widely explored in the literature, but is neglected for agriculture although family farms are key players in the economy. We investigate whether the succession changes the economic performance of family firms for Italian family farms during the period 20082014. Our results show that succession on these family businesses has a negative effect on their economic performance related to capital, due to an increase in capital after succession. A policy implication is that support for investments of farm new entrants should be improved.
Keywords: family business; succession; economic performance; propensity score matching; PSM; Italian farms.
The role of male figures in the support of female successors
by Catherine Thévenard-Puthod, Bérangère Deschamps
Abstract: The aim of this article is to improve understanding of the support needs of female successors: What kinds of support do they need during the succession process? From whom can they get it? Based on the analysis of 13 cases of business transfer to female successors, our results first show the variety of supports that are solicited by women in order to meet their needs. While we underline the useful role of professional support networks, our results also highlight the more fundamental role of some family members, and more specifically the importance of the spouse in the success of the entrepreneurial project. In a more general perspective, our results emphasize the role of male characters (husband, father, male co-associate) in the success of female successors, especially in male-dominated industries. A masculine presence enables female successors to acquire the necessary legitimacy.
Keywords: female successor; women entrepreneurs; business transfer; succession; entrepreneurial support.
Is Innovativeness Always Beneficial in Family SMEs? The Moderating Role of Generational Stage
by Jonathan Bauweraerts, Olivier Colot
Abstract: Many studies suggest that innovativeness is positively related to performance in small- and medium-sized family enterprises (family SMEs); however, empirical and theoretical controversies surround this problematic. This study proposes and tests an integrative framework connecting two explanations for these inconsistencies: the innovativeness-performance relationship is curvilinear, and the performance implications of innovativeness are contingent upon the firms generational stage. Drawing on the socioemotional wealth theory, the results from a dataset of 204 Belgian family SMEs show an inverted U-shaped relationship between innovativeness and performance. Furthermore, the generational stage of the firm negatively moderates this curvilinear relationship.
Keywords: SMEs; Innovativeness; Performance; Generational stage; Family Firms.
Who I am affects what I do: How does director diversity influence board roles in medium-sized family firms?
by Soumaya EL HAYEK SFEIR
Abstract: We expect board of director diversity to be reflected in the way directors carry out their monitoring and advisory roles, including succession planning, and to affect the governance of firms. We conceive that the behaviour of family firm boards is influenced by their demographic and cognitive diversity, which can in turn affect how directors perform their roles. We apply upper echelons theory (Hambrick & Mason, 1984) to six family business case studies to highlight how directors act as resource providers for their firms by utilising their personal experiences, judgement, external connections and access to information. We argue that there is a relationship between director diversity (demographic and cognitive), behaviour and roles, including those related to succession planning, that contributes to the ability of family businesses to survive and prosper.
Keywords: Board of directors; Governance; Cognitive diversity; Demographic diversity; Behaviour; Upper echelons theory.
by Walter MsWaka, Olu Aluko, Safaa Hussein, Armindo Dos Santos De Sousa Teodósio, Huifen Cai
Abstract: Social entrepreneurship activities continue to make a significant contribution to the development of the United Kingdoms (UK) economy and remain at the core of the governments strategies for ameliorating socio-economic deprivation across the country. Despite the growth of this type of business activity, a key area that requires further analysis is how social enterprises respond to the funding challenges posed by globalisation, declining state support and increased demands for social welfare interventions. These challenges also come at a time when the UK government is encouraging communities to explore innovative ways of tackling socio-economic deprivation, through innovative and sustainable business practices. Drawing on a qualitative case study approach of social enterprises in South Yorkshire UK, this research contributes to extant literature by scrutinising the operations of social entrepreneurs in resource-constrained environments. By employing components of Kirzners (1973) theory of entrepreneurship, the findings of this investigation highlight how opportunity spotting and innovation in financing strategies have enabled social entrepreneurs in South Yorkshire to widen their organisations sources of financial resourcing. This study is of particular benefit to policy makers and researchers in social enterprise.
Keywords: Equity investments; Funding; Innovation; Legal structures; Social enterprise; Social entrepreneur; South Yorkshire.
Learning from the Omagongo Cultural Festival about Entrepreneurship and Self Employment in Namibia
by WILFRED ISAK APRIL
Abstract: Omagongo festival is one of the most entrepreneurial initiatives of the Namibian Owambo people. The primary symbol for this festival is the marula tree, celebrated as it is a key source of an alcoholic beverage; which normally takes place during the harvest seasons from February to May annually. In addition, the tree is also used for shade and the making of the onjove oil to name a few. There is much to learn about self-employment, small business and entrepreneurship. This unique festival is hosted by almost ten ethnic (10) groups/clans annually in Northern Namibia, of which some were armed forces in the liberation struggle of Namibia 29 years ago. Numerous fighters with a great zeal or entrepreneurship lost their lives; and the stories of their entrepreneurial initiatives are little known and almost never told in the academic literature. Since 2017, the communities joined forces to hold an annual cultural festival where the entrepreneurial legacy of the tribes is celebrated. The stories of the Oshiwambo people are not well documented. The authors of this paper joined forces with the community at the annual Omagongo festival of 2018 and captured twenty (20) stories from entrepreneurs and local community members. These stories will give an overview of how they build capacity and make entrepreneurship work for the people. It is envisaged that a true story from the people will teach the reader about enterprise and livelihood in an independent Namibia and beyond. In addition in depth interviews focus groups and participant observation were also used.
Keywords: Namibia; Ethnic group; Omagongo; entrepreneurship; small business; self-employment and informal markets.
Entrepreneurial orientation in the sharing economy: cases of new entries in domestic and international markets
by Heidi Coral Thornton, Susanne Sandberg
Abstract: Entrepreneurial orientation (EO) has attracted increasing research attention over the last decades, yet few studies apply all five dimensions in novel contexts and through qualitative studies. As a response, this paper explores six cases of new market entry by sharecoms, both internationalised and non-internationalised, in order to enhance knowledge about EO in an international sharing economy context. The findings show that the five dimensions of EO are demonstrated and utilised in diverse ways and to varying degrees, often through combination. Innovativeness, autonomy, and proactiveness are useful for bringing novel offerings to the market and EO is seen as an accelerator for growth and stimulator of early internationalisation. Still, not all of the dimensions were evident within all of the sharecoms nor were they deemed necessary in order to be entrepreneurial, which challenges previous research. The findings are shown to contribute to theory, as well as to practitioners.
Keywords: international entrepreneurship; entrepreneurial orientation; new market entry; international markets; sharing economy; sharecoms; qualitative case study.
Motives of Local People to (Not) Become Entrepreneurs? Evidence from Agats-Asmat, Indonesia
by Nia Kurniati Bachtiar
Abstract: People consider lack of education as the main constraint of entrepreneur percentages growth in Agats-Asmat, Papua, Indonesia specifically among local people. However, it is an incorrect understanding. This article will prove that systematic approach is insufficient to increase the Human Development Index (HDI) in Agats-Asmat, Papua, Indonesia especially in terms of the number of local entrepreneurs. This qualitative method article discovered that local culture, social capital, community context and unsustainable system are the major constraints to increase the entrepreneurial practice among local people. This study argued previous literatures which stated education is the most substantial aspect in increasing HDI. This article will also present the extended approaches in order to improve people
Keywords: Entrepreneurship; Agats-Asmat; women entrepreneurs; policy and program; government.
Capital Structure of UK SMEs: An Integrated Understanding
by Panikkos Poutziouris, Demetris Markou, Loukas Glyptis, Elias Hadjielias
Abstract: This study contributes with an integrated understanding of SME Capital Structure patterns at the nexus of internal (firm-specific) and external environment determinants. The hypotheses draw on POT, Agency Theory, and Business Cycle theories, and estimates are obtained from a data panel of 424 UK SMEs, over a 10-year period. Furthermore, the findings and discussion draw on both static and dynamic models of capital structure. The results between the static and the dynamic model are qualitatively similar, illustrating that firms change their capital structure over time, which is consistent with the POT and agency theory. In contrast to previous results on capital structure choices, the present study reveals that size relates to long-term debt borrowing only in the short-term, and SME growth is not positively linked with gearing ratios. The findings also offer evidence which support that macroeconomic conditions have a non-linear, convex relationship with the gearing ratios of the sample firms.
Keywords: SMEs; capital structures; SME financing; business cycle; firm-specific characteristics.
Barriers to Immigrant Mexican Entrepreneurs in the USA
by Elva Alicia Ramos-Escobar, Domingo García-Pérez-de-Lema, Luis Enrique Valdez-Juárez
Abstract: The purpose of this article is to analyse the barriers faced by immigrant Mexican entrepreneurs in the United States of America (USA) and their relationships with human capital, management capacity and performance. A structural equation model (SEM) was developed using the partial least squares regression (PLS) method with a sample of 166 Mexican immigrant entrepreneurs whose companies are operated in the city of Tucson, Arizona in the USA. The results of this research highlight the importance of human capital and management capacity as factors that help immigrant entrepreneurs improve the performance of their businesses and that help reduce barriers or obstacles that immigrants face when they develop their businesses. These results have important implications both for the public administration of the design of entrepreneurship policies for immigrant groups and for the immigrants themselves in favouring the survival of their businesses.
Keywords: immigrant entrepreneurship; human capital; management capacity; performance; barriers to entrepreneurship.
Graduate employability through entrepreneurship: A proposed model of lifelong learning of entrepreneurship education in Ghana.
by Remy Nyukorong
Abstract: The purpose of the current study is to propose a straightforward, real-world model of personal development and active citizenship that will enable the model to be easily explained as well as utilised as a framework when working with young people to improve their quality of life and self-sustainability, and to promote competitiveness and graduate employability. The model was created based on current research into employability concerns. The model sketches out what is meant by lifelong learning, in explicit and understandable terms, and suggests ways for interaction among the various aspects. However, the interfaces between the five stages of the model remain theoretical. The model will be a useful tool for teachers, guidance and counselling officers, curriculum development experts and any other practitioners engaged in entrepreneurship education activities. The model will be of value to any person with an interest in employability issues.
Keywords: entrepreneurship education; graduate employability; learning through life; learning for life.
Institutional Support and the Challenges Facing Youth Entrepreneurs in Developing Countries: A Guyana Case Study
by Donna Danns, George Danns
Abstract: Youth entrepreneurship is being promoted by policymakers in developing countries as a key strategy to combat high youth unemployment and reduce individual poverty. An amalgam of international, governmental and other groups has promulgated policies and programmes to lend support for this strategy. Yet, youth entrepreneurs face many challenges that can derail this strategy. Based on a review of research literature a youth entrepreneurship institutional support (YEIS) model is developed to enable identification and categorisation of the sources of support for youth entrepreneurs in developed and developing countries. This study investigated the challenges youth entrepreneurs from the developing country of Guyana face and a determination is made as to whether available institutional support mechanisms pinpointed in the YEIS model are helpful in overcoming such challenges. Data for this study were derived from a survey of youth entrepreneurs in the town of Linden, Guyana; agency interviews, and secondary sources.
Keywords: youth entrepreneurship; developing countries; Guyana; Caribbean youth; youth entrepreneurship challenges; youth entrepreneurship support; youth unemployment; international organisations; entrepreneurial education and training; youth entrepreneurship funding; micro-enterprise.
Entrepreneurship in Emerging Economies: Barriers to Entrepreneurship in the Muslim World
by R. Isil Yavuz
Abstract: Promoting entrepreneurship has become a major national priority throughout the worlds emerging economies. This is particularly true in the case of Muslim countries, many of which have lagged other parts of the world in new business formation, technological development, job creation, and quality of life. Even though these countries differ in their political and socio-economic conditions, most continue to struggle with a myriad of institutional, cultural and ideological challenges that discourage entrepreneurship. In this article, I analyse key institutional, cultural, and technological barriers to entrepreneurship in Muslim countries. My discussion contributes to the growing literature on international entrepreneurship in emerging economies.
Keywords: Emerging economies; entrepreneurship; new venture creation; entrepreneurial policy; Muslim world.
Internationalisation and Performance in Family Businesses: Influence of the Internationalisation Path Followed
by Oscar Javier Varas-Fuente, Raquel Arguedas-Sanz, Beatriz Rodrigo-Moya
Abstract: Although many family businesses have chosen to undertake internationalisation processes, little is known about how the internationalisation-performance relationship is affected by the internationalisation path followed. This research is based on the theory of resources and capabilities, the unique set of business resources (familiness) and the socioemotional wealth (SEW) perspective. Based on a set of panel data from the Spanish Survey on Business Strategies for small and medium-sized Spanish family businesses from 2005 to 2015, fixed-effect regressions were run on a sample of 285 businesses that followed the traditional path and 107 that followed the accelerated path, finding an inverted U-shaped curve for the traditional path and an inverted S-shaped curve for the accelerated path. Specifically, the accelerated path, not the traditional one, allows an increase in performance at higher levels of internationalisation.
Keywords: familiness; family businesses; internationalisation paths; internationalisation-performance relationship; resources and capabilities; SEW.
Exploring the relationship between entrepreneurial characteristics, entrepreneurship education and intention to be entrepreneur amongst Malaysian undergraduates
by Mohammad Mizanur Rahman, Mohani Abdul, Azmawani Abd Rahman, Mastora Yahya
Abstract: The aim of this research is to determine the relationship between entrepreneurial characteristics, entrepreneurship education and the intention to be entrepreneur amongst Malaysian undergraduates. In this study, 300 sets of questionnaires were distributed equally among undergraduate students from Universiti Malaya, Universiti Kebangsaan Malaysia and Universiti Putra Malaysia, representing the public universities (IPTA) and similarly another 300 sets of questionnaires were distributed equally among undergraduate students from Kolej Universiti Poly-Tech MARA, Kuala Lumpur, Universiti Tenaga Nasional, and Kolej Universiti Infrastruktur Kuala Lumpur representing the private universities (IPTS).In total, 486 completed questionnaires were processed and then analysed using the appropriate statistical tests. The findings of the study indicate that three dimensions of entrepreneur characteristics and entrepreneurial education are positively related to the intention to be entrepreneurs. This research provides useful in sights to the entrepreneurship education in Malaysia and it highlights the pertinent entrepreneurial characteristics that can be further developed in nurturing successful entrepreneurs.
Keywords: Entrepreneurial intentions; entrepreneurial characteristics; entrepreneurial education; need for achievement; innovativeness; locus of control; undergraduates; public university; IPTA; private university; IPTS; Malaysia.
The impact of internationalisation on product innovation in emerging market firms (EMFs)
by Mai Thi Thanh Thai, Ekaterina Turkina, Amon Simba
Abstract: This article is based on a dataset compiled by the World Bank. This publicly accessible dataset contains information about business management which was collected from 212 EMFs that were located in 10 different markets across Central, Eastern Europe and Asia. In order to measure the impact of internationalisation on product innovation in these EMFs, this article utilises the resource-based view (RBV). Through data analysis a consistent pattern showing the positive impact of the strategies adopted by internationalising EMFs to enhance their product innovations emerged. This uniform pattern was common in all EMFs. Most important, the trend showed that their product innovations were attributable to several factors that included; international physical resources, international marketing capabilities, managerial international experience, managerial perception of industry internationalisation, and international outsourcing. Thus, this article offers fine insights detailing the distinctive business manoeuvres internationalising EMFs initiate to drive product innovation. Insights from this research advance the resource-based perspective in a new way. Particularly, the new knowledge describes distinctive resource-seeking behaviours EMFs exhibit in emerging market thereby contributing to the literature on firm internationalisation and innovation.
Keywords: Innovation drivers; emerging markets’ firms (EMFs); firm characteristics; internationalisation; resource-based view of the firm.
Financial literacy, access to finance, SMEs performance and Islamic religiosity: Evidence from Saudi Arabia
by Raed Khamis Alharbi, Sofri Bin Yahya, Veland Ramadani
Abstract: This paper seeks to explore the impact of access to finance and financial literacy on the SMEs performance in an Islamic context. The study adopted a cross-sectional research design by employing 255 SMEs in Saudi Arabia. The findings showed a positive mediating effect of access to finance on the relationship between financial awareness, financial attitude and SMEs performance while access to finance does not mediate the nexus between financial knowledge and SMEs performance. Subsequently, the findings revealed that access to finance have positive effect on SMEs performance. This study also found that access to finance increases the positive relationship between financial literacy and SMEs performance. The role of religiosity was found to positively increase access to finance towards affecting SMEs performance. The findings of this study provide SMEs with the knowledge to increase their religious practices to access government Islamic funds i.e. Mudarabah and Musharakah while Islamic banking firms should increase their Islamic products and services to attract SMEs in Saudi Arabia.
Keywords: Financial literacy; access to finance; SMEs performance; Islamic religiosity.
Profitability and Poverty Status of Small Scale Entrepreneurs: The Garment Producers' Experience in Lagos State, Nigeria
by Olubukola Ehinmowo, Olayemi Simon - Oke
Abstract: The study assessed the profitability and poverty status of small scale garment producers in Lagos State Nigeria, using multistage sampling technique to select 180 respondents for the study. Method of data collection was through questionnaire and data were subjected to descriptive statistics, budgetary analysis, Foster-Greer Thorbecke (FGT) and regression analysis respectively. The findings showed that majority of the respondents (94%) were married .The study further revealed that total revenue and net profit accrued per annum were N601,234.00 and N59,514.00 respectively. The results of FGT showed that poverty incidence (Po), Poverty depth (P1) and Poverty severity (P2) for the poverty line of $1 and $1.25 USD per day were 0.114, 0.101, 0.077 and 0.444, 0.150, 0.116 respectively.. Results of the regression analysis revealed that the number of customers patronage, experience and household size had positive coefficients and significantly influenced the profitability of the garment makers in the study area. Policies gearing towards stable power supply should be initiated and implemented to enable the garment makers to increase their production level and profits.
Keywords: Profitability; Poverty; Small Scale; Entrepreneurs; Garment Producers; Lagos State; Nigeria.
Occupational health and safety in small businesses - A South African perspective
by Elriza Esterhuyzen, Dorothea Visser
Abstract: This article focuses on health and safety criteria for small businesses. The awareness, knowledge and attitude of small business managers in South Africa regarding occupational health and safety compliance were determined. Quantitative research generated descriptive data and measured respondents perceptions of knowledge and attitude regarding occupational health and safety compliance. The findings revealed awareness of occupational health and safety criteria. Respondents were conversant with the required knowledge to adhere to compliance regarding occupational health and safety; and their attitude confirmed their priority to occupational health and safety criteria. Researching the occupational health and safety compliance of small businesses is important for economic growth, as a lack of compliance results in financial and employee losses through occupational injuries and diseases. The findings have implications for government, policymakers, practitioners and management teams to consider occupational health and safety management systems and improvement plans. Such interventions are required to improve occupational health and safety compliance.
Keywords: small business; compliance; knowledge; attitude; small business manager; occupational health and safety; OHS.
Factors driving Eco-preneurs in India: An Exploration
by Shilpa Sindhu, Anupama Panghal, Gaurav Aggarwal
Abstract: Ecopreneurial ventures are those entrepreneurial ventures which are usually driven by ecological responsiveness. This paper is exploratory research towards finding the factors which drive entrepreneurs towards ecopreneurship in India. Data for the study was collected through an online questionnaire, floated to entrepreneurs from the database of a national level entrepreneurship institute, in India. The data received from 116 respondents were analysed statistically by applying chi-square and factor analysis. The findings highlighted eight significant factors that may drive entrepreneurs for ecopreneurial ventures, the two leading amongst them are personal attitude and market forces. The findings also revealed a lack of awareness about the concept of ecopreneurship in India. The study paves the way for policy interventions and research inclusions in the field of ecopreneurship for enhancing the drivers to encourage ecopreneurship. Emphasis is required on bringing such policies in India, which can incline an individual towards ecopreneurship and make the business environment cordial for ecopreneurs.
Keywords: entrepreneurs; ecopreneurs; ecopreneurship; environment; factor analysis; India.
Leadership, Team Cohesion and Family Firms Performance
by Charbel Salloum, Hajer Jarrar, Catherine Mercier-Suissa, Jacques Digout, Tarek Azzi
Abstract: The purpose of this study is to determine the moderating effects of team cohesion and knowledge sharing on the performance of teams that utilise empowering leadership using a multiple regression analysis on a sample from three departments within 114 family firms in Lebanon. The results suggest that there is a significant relationship between empowering leadership and team cohesion and that knowledge sharing and team cohesion have an indirect influence on team performance. Our study provides important insights regarding team cohesion and knowledge sharing in empowering leadership practices in the Middle East. More importantly, our paper underlines how critical team performance is by highlighting the fact that a willingness to share skills, expertise and know-how benefits all team members and groups of a department or managerial structure. Group cohesiveness is crucial for a leader and for a firms management team and team performance.
Keywords: Empowering Leadership; Team Performance; Team Cohesion; Knowledge Sharing.
Understanding Small Business Entrepreneurial Activity in the Nigerian Bottom of the Pyramid (BoP) and Informal Economy
by Chijioke Dike Uba, Eghosa Igudia, Bamidele Wale-Oshinowo
Abstract: Despite significant and rapid evolution of the bottom of the pyramid (BoP) and the informal economy concepts, there is still a lack of clarity regarding the nature of BoP populations being studied and how activities in BoP markets intersect with those in the informal economy. The current study contributes to the literature in this area by exploring the nature of small business (SB) activity at the BoP, specifically, within the Nigerian informal economy context. The research employed the street-by-street survey and spatial random sampling methods to collect data from indigenous SB entrepreneurs in the Nigerian informal economy. Findings highlight the unique characteristics of BoP and non-BoP entrepreneurs and the key factors underpinning their motivations for engaging in specific economic activities in the informal economy. These are discussed in relation to the literature, theory and practice.
Keywords: bottom of the pyramid; BoP; informal economy; entrepreneurship; small business; BoP populations; Nigeria.
Advancing small family business studies: Beginning evidence of Psychological Capital for approaching creativity
by Dianne H.B. Welsh, Julia Vincent Ponroy, Thomas Niemand
Abstract: While scholars have widely investigated innovation in family firms, how creativity develops in family firms has been underexplored. Do family firms favour or hinder creativity, and how? To answer these questions, we need a measure of creativity. Since creativity on an organizational level is unavailable, we propose to apply a proxy in family firms: Psychological Capital (PsyCap) (Luthans and Youssef, 2004). Explorative findings from a highly creative family firm showed that Organizational PsyCap (OPC) can be reliably measured in family firms and are linked to trust and overall family firm member positivity. Implications for research and practice are discussed.
Keywords: Creativity; Family Firms; PsyCap; Positive Organizational Behaviour; Reward Systems; Employee Participation; Catering Industry; Hope; Efficacy; Resilience; Optimism.
Fifteen Years of International Journal of Entrepreneurship and Small Business : A Bibliometric Overview
by Satish Kumar, Riya Sureka
Abstract: The International Journal of Entrepreneurship and Small Business (IJESB) is a refereed journal publishing original peer reviewed articles. It completed its fifteen years of active publishing in the year 2018. The purpose of the study is to celebrate this event and provide a comprehensive overview of the IJESB articles with bibliometric analysis. Bibliometric analysis with graphical mapping of bibliographic data is carried to ascertain the publication pattern of IJESB between 2004 and 2018. Major findings suggests that the journal has a growing trend both in terms of publications and citations. France and the United States are the key contributors to the journal. Major themes covered by the journal comprise entrepreneurship,social capital, family business, small business, internationalisation and innovation.
Keywords: Entrepreneurship; Small business; SME; VOSviewer; bibliometric analyses; bibliographic coupling.
DONT RUN BEFORE YOU CAN WALK! THE IMPORTANCE OF FOSTERING THRESHOLD CAPABILITIES IN SECURING MARKET-LEVEL SURVIVAL
by James M. Crick
Abstract: The positive association between dynamic capabilities and sustainable competitive advantages has been well-studied throughout the extant literature. In contrast, relatively little is known about threshold capabilities, namely, the intangible assets that entrepreneurs utilise to survive within their markets. As such, the contribution of this conceptual paper is to integrate threshold capabilities into the dynamic capabilities sub-set of resource-based theory. This is achieved via reviewing the existing literature pertaining to threshold capabilities and their performance outcomes, as well as the types of entrepreneurs that are most likely to be interested in fostering such intangible assets. Additionally, illustrations of threshold capabilities are described to differentiate them from dynamic capabilities and other intangible assets. These conceptualisations are important, since they shed light on vital organisational capabilities that have been largely overlooked by other scholars. This article ends with some directions for future research.
Keywords: threshold capabilities; dynamic capabilities; resource-based theory; dynamic managerial capabilities; market-level survival; sustainable competitive advantages; lifestyle-oriented entrepreneurs; growth-oriented entrepreneurs; small businesses; entrepreneurial objectives.
Entrepreneurs as change agents in remote communities: a multi-case study analysis in Newfoundland and Labrador, Canada
by Jacqueline Walsh, Heather Hall
Abstract: Over the last decade, small communities and local economic development have become a focal point of research on entrepreneurship. The contributions of individuals have not gone unnoticed in the creation of economic opportunities through building entrepreneurial communities. Based on two case studies from remote communities in Newfoundland and Labrador, Canada, we find that successful entrepreneurs living in small communities can have a special dynamic in their communities and may be responsible for change in various ways and under a variety of contexts. Change may be economic, social, institutional, political, environmental and/or any other nature of transformation that is required to ensure the community in which they chose to live is sustainable and offers a viable standard of living for its residents. We argue that the distinction between social and business entrepreneurs is less pronounced in small communities in isolated regions and that solving social issues necessitates a focus on economic revitalization.
Keywords: Entrepreneur; change agent; remote; rural; entrepreneurial communities; commitment to place; unlocking local; social and business entrepreneurs; local and global networks; disturbing the present.
Survey of the Junior Enterprises Movement in Brazil: entrepreneurship and innovation in undergraduate courses of higher education institutions
by Georgia Arla C. Khader, Mariana G. Cademartori, Rafael Lund
Abstract: Junior enterprises (JEs) are non-profit companies with educational goals run entirely by university students. The current study aims to analyse the panorama and profile of companies linked to the state federations of JEs in Brazil. The companies characteristics were evaluated by a cross-sectional survey with secondary data and structured interview forms that assessed 564 JEs. Data were analysed using Chi-square and Fishers exact tests through the Stata 14.0 program (p > 0.005). The results showed that 92% of JEs come from public institutions, 74% are part of an association to support JEs and 68% of companies consist of one course, with 55% of these from the area of exact sciences. Our findings indicate that the majority of JEs in Brazil are from public universities and are more assisted by support sectors compared to companies from private universities. In addition, there was a predominance of companies in the area of exact sciences concentrated in southern and south-eastern Brazil.
Keywords: entrepreneurship; small business; management development; junior enterprises; entrepreneurial education; young entrepreneurs; entrepreneurial culture; university entrepreneurship; Junior Enterprises Movement; internship.
Strategic Pathways to ICT adoption in SMEs: Evidence from Greece
by Ioannis Giotopoulos, Alexandra Kontolaimou, Efthymia Korra, Aggelos Tsakanikas
Abstract: This paper explores the impact of different strategic practices on firms ICT adoption. Drawing on push-pull theories it is argued that business strategies which are strongly linked to the market and/or customer needs are most likely to pull the adoption of ICT. Strategies that mainly confine their scope to the characteristics of the products, implying a more loose connection with the market, are expected to push the ICT adoption process. The empirical analysis based on a large-scale survey on 3500 Greek SMEs confirms the significance of market-based strategies for ICT adoption. The ordered probit estimations show that market driven strategies (marketing differentiation and market diversification) increase the likelihood of adopting ICT in SMEs while generic competitive strategies (low cost position and product differentiation) do not play any significant role in the adoption of new technologies in most cases. The results appear to be largely robust across different ICT adoption measures.
Keywords: ICT Adoption; SMEs; Generic Strategies; Market Driven Strategies.
Crowdfunding in Italy An Exploration of Chances and Challenges for Women Entrepreneurs
by Stefanie Pakura, Federica Maria Raiti, Verena Meyer
Abstract: Crowdfunding is supposed to democratise the entrepreneurship funding process, as it provides access for women entrepreneurs and investors to participate. In Italy, the barriers for the participation of women in entrepreneurship, especially with regard to funding, are particularly high. In this challenging context, crowdfunding is a promising alternative, which we explore with a context-specific study from a cultural gendering perspective. Findings reveal that the interviewed crowdfunding experts and women entrepreneurs believe that, in crowdfunding, only the idea and personal commitment count, while gender does not. Interestingly, results illustrate several barriers for women entrepreneurs in practice. Overall, crowdfunding structures in Italy currently reveal gender-based barriers, but have the potential to create a more open space of entrepreneurship in the future. While crowdfunding might not be the allegedly gender-neutral environment that it is often illustrated as, it might open up the path for more women-led businesses to succeed in acquiring financial resources.
Keywords: crowdfunding; reward-based crowdfunding; equity-based crowdfunding; entrepreneurial finance; women entrepreneurs; gender; Italy; culture; qualitative study; cultural gendering.
Moral Disengagement among Social Entrepreneurs: Initial Insights from Indonesia
by Ari Margiono, Pantri Heriyati
Abstract: Moral disengagement a concept that is closely related to the unethical behaviour of individuals has started to gain significance in management studies. However, there has been limited research on moral disengagement in entrepreneurship, especially in the social entrepreneurship domain where people tend to assume that social entrepreneurs are inherently ethical individuals. Despite its importance, there is even less social entrepreneurship ethics research in the literature that specifically investigates moral disengagement in the context of developing countries. Using a qualitative method and a critical incident technique, this research investigated moral disengagement among social entrepreneurs in a developing country, Indonesia, in three different periods: during the start-up phase, when they have received revenue, and in the last three months. Our study reveals two important findings. First, in contrast to extant literature that focuses on individual-level attributes, we found that contextual factors drive social entrepreneurs to engage in moral disengagement activities at most stages of venture creation. Second, social entrepreneurs in our sample seem to practice moral disengagement to cope with perceived losses arising from contextual uncertainties. These findings imply the importance of an effective social entrepreneurship ecosystem in Indonesia.
Keywords: critical incident technique; moral disengagement; prosocial; social entrepreneurs; social entrepreneurship.
Young students and desire to social entrepreneurship: The impact of governments role
by Arun Sukumar, Vahid Jafari Sadeghi, Zimu Xu, Richard Tomlins
Abstract: The main aim of the research was intended in assessing the role of the Indonesian government towards the promotion of social entrepreneurship in the country. The research was focused on addressing the level of awareness about the concept of social enterprise and what it means in Indonesia, especially among young students. For achieving this aim, a survey was conducted among students in Jakarta, Indonesia. The survey reflected the assessment of government role in the promotion of social entrepreneurship in Indonesia. The results noted that when it came to social entrepreneurship, it is the government that acts as a vital role in communication what a social enterprise is and its role to the members of the society. From the regression analysis, it was identified that there is a significant relationship between the promotion of social entrepreneurship and the role of the Indonesian government. However, the study also identifies that while the promotion of social enterprise is essential, the role of innovation and its link to the building resilient social enterprises needs more attention.
Keywords: Social Entrepreneurship; Government Support; Young People; Social Enterprise; ANOVA.
Entrepreneurial intentions Amongst University Students in Pakistan: A Comparison between Students of Islamic and Conventional Business Studies
by Syed Alamdar Ali Shah, Raditya Sukmana, Muhammad Ali Ahmad, Muhammad Saud, Bayu Arie Fianto
Abstract: Objective of this research is to examine intentions of entrepreneurship amongst students of Islamic and non-Islamic business studies in Pakistan. Data of 344 respondents from HEC recognised universities in the province of Punjab has been collected and analysed using Cramers V test to analyse various associations. Results suggest that students pursuing non-Islamic business studies and Islamic studies are more inclined to initiate their businesses after studies as compared to students who have studied Islamic business as a subject or have pursued Islamic business studies as a whole. Students of Islamic business studies have very low inclination towards starting their own business. This research puts forward a new area of research to find dynamics of differences in entrepreneurial intentions between Islamic and non-Islamic graduates.
Keywords: entrepreneurship; entrepreneurial intentions; non-Islamic business students; Islamic business students; Pakistan.
ENTREPRENEURIAL INTENTION AND GENDER: AN ANALYSIS OF ENVIRONMENTAL FACTORS
by Ximena Morales-Urrutia, Diana Morales-Urrutia, Luis Simbaña-Taipe
Abstract: The aim of this paper is to analyse the entrepreneurial intention of women and some environmental factors in order to identify their main explanatory causes. The theoretical foundation approach guides to an analysis based on different theories such as: Ajzens theory of planned behaviour (TPB), social role theory, social cognitive theory (SCT), which provide a solid reference framework for this study. According to this scheme, the research focuses on the role of the leading environmental factors for female entrepreneurial intention. On the other hand, the empirical approach covers 18 countries from Europe and the USA during 2006 to 2015; additionally, its main statistical source is the Global Entrepreneurship Monitor (GEM). The results specify that both, necessity entrepreneurship and skills and knowledge, represent fundamental aspects for this entrepreneurial intention. Therefore, each government should lead policies, regulations and incentives aligned to social and cultural needs of each country.
Keywords: female entrepreneurship; entrepreneurship gender gap; environmental business factors.
More than a financial alternative: Discovering equity crowdfunding as a tool for entrepreneurial ventures to acquire loyal customers
by Carina Hoffmann, Alexandra Moritz, Peter Kenning
Abstract: Gaining new and loyal customers is a major challenge for all companies, particularly for entrepreneurial ventures. To address this challenge, we investigate the potential of transforming investors into customers in the equity crowdfunding context. In particular, we aim to understand under what circumstances crowd-investors transform into customers and whether these customers have the potential to remain loyal to the venture. Based on a survey of crowd-investors of a German equity crowdfunding platform, we show crowd-investors potential as loyal customers and find that their trust and affective commitment towards a funded venture are the main drivers in their transformation into loyal customers. Furthermore, we find that trust and affective commitment intervene the positive effects of identity-driven precursors. Our findings highlight that equity crowdfunding has the potential to address two major challenges entrepreneurial ventures are faced with: finding investors and gaining loyal customers.
Keywords: Equity crowdfunding; crowd-investor behaviour; customer acquisition; customer loyalty; commitment-trust theory; entrepreneurial ventures; investomer; structural equation modelling; social identity.
THE INFLUENCE OF FAMILY COMMITMENT ON THE SOCIOEMOTIONAL WEALTH AGENDA OF SPANISH FAMILY FIRMS: THE EFFECTS ON PERFORMANCE
by M. Katiuska Cabrera-Suárez, Josefa D. Martín Santana
Abstract: The socioemotional wealth (SEW) is recognised as a relevant approach to analyse the idiosyncratic nature of family firms (FFs). However, scholars have suggested that SEW may have both a bright and a dark side in relation to its influence on FFs behaviour and performance and that family influence may play a key role in this issue. We analyse the effect of family commitment on the orientation to an extended or a restricted SEW agenda and on the economic performance of the FF. The analysis of data from 374 family and non-family managers in 173 Spanish non-listed FFs shows that both an extended and restricted SEW agendas derive from family commitment, but only the goals related to an extended SEW lead to better performance. A multigroup analysis shows that the positive performance effects of the extended SEW agenda can only be obtained when family managers are a majority in the top management teams (TMTs).
Keywords: extended versus restricted SEW; family commitment; family firm; performance; family and non-family managers.
Growth perception amongst women entrepreneurs: An emerging economy perspective
by Oyedele Ogundana, Kostas Galanakis, Amon Simba, Lynn Oxborrow
Abstract: Consistent with studies that focus on business growth amongst female and male entrepreneurs, this study examines the way women entrepreneurs in Lagos-State, Nigeria, perceive business growth. It utilises Nvivo for coding transcribed data obtained through face-to-face interviews that involved 35 women entrepreneurs in Lagos-State. From an in-depth analysis of their conceptualisation of business growth, the study develops comprehensive insights into the way growth is perceived in women-owned enterprises in Lagos-State. It reveals that women entrepreneurs involved in the day-to-day operations of small garment-producing enterprises associate growth with a percentage change in their clientele however small. More importantly, they accept that their descriptors of growth derive from the interrelation between their social environment, individual thought and behaviour. Thus, this study contributes to the literature on gender and entrepreneurship by illustrating context-specific parameters that shape the way women entrepreneurs in a developing country conceptualise business growth.
Keywords: women-owned businesses; business growth; garment manufacturing industry; Lagos; Nigeria.
Mini-companies and school performance in four European countries
by Vegard Johansen
Abstract: Mini-companies combine practical and theoretical learning, and the Company Programme (CP) was the most participated mini-company scheme in Europe. This article assessed whether participation in CP influenced school performance in secondary schools in Belgium, Finland, Italy and Latvia. The study compared students with high CP activity (100 hours or more), low CP activity (25-99 hours), and no CP activity. The investigation used a pre-test post-test design, and it found that students with high CP activity had a higher Grade Point Average (GPA) than non-participants. Thus, the CP seemed to be a well-adapted working method for the improvement of learning in various subject areas. However, the correlation between CP and GPA differed among the countries. 2,789 students in twenty secondary schools (16-19 years of age) participated in the study. Multivariate analyses were used to control for competing factors relevant to GPA.
Keywords: Entrepreneurship education; mini companies; the Company Programme; school performance; grade point average; Europe; secondary schools; students; Belgium; Finland; Italy; Latvia.
Factors Discouraging the Growth of Women Entrepreneurship in Bangladesh
by Md. Rakibul Hafiz Khan Rakib
Abstract: Active participation of women in entrepreneurial activities becomes imperative for ensuring national growth of Bangladesh. But, numerous factors discourage them in starting and running their own business enterprise. This study intends to identify those factors and analyse the effects of some selected factors that discourage women entrepreneurship in Bangladesh. A mixed method approach qualitative approach followed by quantitative approach was used to conduct the study by distributing self-administered questionnaires among 200 women entrepreneurs selected conveniently from Rangpur division of Bangladesh. ANOVA and multiple regressions were performed with the help of SPSS version 21.0 to analyse the data and test the proposed hypothesis. Findings reveal that social and cultural obstacles, family obligations, dual responsibilities, hostile administrative environment and policy, and uneven religious and inheritance laws discourage the growth of women entrepreneurship in Bangladesh. This paper also includes discussions on the practical implications of the findings with scope of future research.
Keywords: women entrepreneurship; entrepreneurial growth; discouraging factors; multiple regressions; Bangladesh.
Problems of Entrepreneurs in India Case of RSETIs (Rural Self Employment Training Institute) Trainees
by Pawan Kumar, Ritu Kumra
Abstract: Entrepreneurial Training and education plays a significant role in giving the major push to the economic growth of a particular country. An economy which have rich productive resources cannot grow without efficient energetic entrepreneurs. This paper examines the main challenges of trainees before or after starting their business ventures after completing their entrepreneurial training. The study is descriptive as it includes survey of 603 trainees who have taken entrepreneurial training from Rural Self Employment Institutes (RSETIs). Data was collected using questionnaire .Respondents were selected purposively from nine districts of Punjab (India).The collected data was analyzed using garret ranking method. The result of the rnanalysis revealed that most important barrier in entrepreneurial success of the trainees is negative attitude of the family and society, followed by financial constraints.
Keywords: Entrepreneurial training; challenges; problems; RSETIs; successful entrepreneurs.
An Eclectic Analysis of Entrepreneurship Motivation in Conflict and Refuge: The Syrian Context
by Lubna Rashid
Abstract: This article applies the eclectic theory of entrepreneurship to the study of entrepreneurship motivation under the extreme contexts of violent conflict and subsequent displacement, where the decision to pursue entrepreneurship is modelled as an interplay of the opportunities and external resources in the entrepreneurs environment as well as individual characteristics. The study also adapts Wagner and Sternbergs view of entrepreneurial decision-making in additional to the self-determination theory to discuss the study implications. Findings suggest that conflict-affected entrepreneurs are intrinsically motivated to start new businesses as well as being driven by opportunities and resources in their institutional, economic, cultural, and social environment with no notable difference in motivational drivers between conflict-affected founders in an active conflict versus refuge context. This emphasises the positive potential outcomes of entrepreneurship in conflict and refuge and the need to comprehensively analyse entrepreneurship motivation outside of dichotomies and simple categorisations to allow for actionable recommendations.
Keywords: entrepreneurship motivation; eclectic theory of entrepreneurship; refugee entrepreneurship; entrepreneurship in conflict; self-determination theory; sustainable development; Syria; Germany.
The role of strategic motivations and mutual dependence on partner selection in SME coopetition
by Robert V. Randolph, Hanqing “Chevy” Fang, Esra Memili, Veland Ramadani, Dilek Zamantili Nayir
Abstract: Considering the significant economic impact of SMEs and their proclivity towards collaborative strategies, SME coopetition remains under researched despite evidence of its distinctiveness. Drawing upon Resource Dependence Theory, we develop and test a model that considers the role of strategic motivations, proactive or reactive, as determinants of the emphasis on mutual dependence in partner selection. We argue that coopetition is a unique avenue for constraint absorption that is particularly relevant in SMEs motivated by resource limitations and perceived market necessities. Further, we argue that SMEs with more traditional proactive strategic motivations are more likely to view coopetition as an avenue for market exploitation and thus less likely to select partners based on mutual dependence, particularly when engaging with less trusted partners. Our findings, based on the study of 104 firms in the automotive sector, generally support our arguments and suggest a number of implications for the continued study of SME coopetition.
Keywords: coopetition; competition; strategic motivations; mutual dependence; partner selection knowledge; innovation; SMEs; Turkey.
Mega Sport Events as Drivers of Entrepreneurship: Bridging the Gap between Economics and Psychology
by Ted Hayduk
Abstract: Mega Sport Events (MSEs) are a growing domain for political, economic, and social discourse. Their scale and grandeur means that municipalities and businesses see them as opportunities to further their independent and joint objectives. Thus, there is continued interest in assessing the impact MSEs have on host regions. Scholarship has assessed MSEs using two perspectives: (1) the economic perspective, which assesses macro outcomes, and (2) the psychic benefit perspective, which focuses on the micro level. Problematically, neither perspective examines theoretically congruent constructs. Thus, there is no holistic, multilevel framework for evaluating how MSEs affect host regions. This paper positions Entrepreneurial Orientation (EO) as a link between the two perspectives because EO originates at the micro level and has accumulative effects at the macro level. This framework has important practical implications for academics, policymakers, and entrepreneurs.
Keywords: Mega sport events; Entrepreneurial Orientation; Entrepreneurship; Economics; Psychology.
Digital Transformation in Small and Medium Sized Enterprises: Business Model Innovation and Information Technology Adoption The Case of Austria
by Robert Eller, Christopher Kronenberg, Mike Peters
Abstract: This study investigates digital technology adoption and business model innovation in Austrian small and medium-sized enterprises (SME) and the related impact on firm performance. Empirical findings based on a survey of 121 SMEs in Austria suggest that digital technology adoption is mediated by business model innovation, and increases the financial performance of SMEs in Austria. This study contributes to a growing interest in the digital transformation and business model innovation in SMEs which facilitate firm performance. Managerial and academic impacts are also discussed.
Keywords: digital transformation; SME; performance; information technology adoption; business model innovation; BMI; digital transformation; Austria.
A Dynamic Management Capabilities View of Small to Medium-sized Enterprise Export Readiness: A Canadian Perspective
by Nadège Levallet, David Finch, Tom Mccaffery, Amanda Espinoza, Simon Raby
Abstract: Increased trade liberalization and advancements in technology have established the foundation for global expansion of Small and Medium-sized Enterprises (SME). However, data demonstrates that most SMEs continue to focus almost exclusively on their domestic market. In this study, we leverage resource orchestration (RO) and dynamic capabilities (DC) to explore the managerial and firm level resources critical to supporting SME export expansion. This includes conducting multi-staged qualitative research to define these resources (N=28). This research identifies company age, operational resources, financial capacity, and employee knowledge and skills. In addition, we isolate dynamic managerial capabilities (DMCs) related to cognition (e.g. managerial experiences and decision-making), social capital (e.g. developing strong internal and external networks) and human capital (e.g. ability to maximize the value of people) as critical to export expansion. Lastly, we use our findings to develop a conceptual model and associated instrumentation of SME export readiness to guide future empirical research.
Keywords: Export; Small Medium Enterprise; Canadian; Internationalization.
Succession Planning and Age Dissimulation: The Impact on Human Resources and Governance in Nigeria
by Osondu Felicia Okwueze, Otu Otu Akanu
Abstract: This study investigate the fact that the phenomena of succession planning have a link to the frequency of age dissimulation among public servants, which have resulted in the increasing decline in human resources performance. The paper focuses on those who dissimulate their age on entry into public service. To support our thesis, we collected our data using a purposive sampling technique to elicit the actual responses from the population, and we analysed the data using STATA/IC. Results show that huge revenues are lost by the nation of training and retraining of the wrong staff in human resource development, then management of public resources and decision making involved in good governance are equally negatively affected as adequate human resource succession planning becomes difficult. Based on these findings, we recommend improved statistical records; a robust indigenous and well-functioning human resource management should be developed in Nigeria public sector to enhance good governance.
Keywords: human resource; succession planning; age dissimulation; public service; declining performance; good governance; Nigeria.
Moderating effect of human capital factors on the relationship between entrepreneurship training and entrepreneurial orientation: An empirical study on micro-sized businesses.
by Mohammed Al-awlaqi, Ammar Aamer, Maged Barahmah, Ahmed Al-sanabani
Abstract: Despite the fact that entrepreneurial orientation (EO) is widely studied in specific literature, little has been done to understand the ability to teach EO, or address the factors that could affect the adoption of such an important strategic entrepreneurial attitude. In this study, we used hierarchical linear regression to test the moderating effect of human capital factors on the relationship between entrepreneurship training and EO. We tested the research hypotheses on 1,330 micro-entrepreneurs who had been previously trained on entrepreneurial attitudes. We found no moderating effect of any of the tested human capital factors such as age, gender, education level, or previous work/job experience. The uniqueness of this study lies in its attempt to investigate the moderating effect of human capital factors on the relationship between entrepreneurship training and EO. According to the findings of this study, we concluded that entrepreneurs can learn and adopt entrepreneurial orientation in their businesses regardless of age, education level, gender, or work experience.
Keywords: entrepreneurship orientation; human capital; micro-sized businesses; entrepreneurship training; Yemen.
GREEN ENTREPRENEURSHIP A GAME CHANGER IN VIETNAM BUSINESS LANDSCAPE
by Nguyen Hoang Tien, Nguyen Van Tien, Nguyen Phuong Mai, Le Doan Minh Duc
Abstract: This article delivers a full insight into the concept of green entrepreneurship. Despite different nature, determinant factors, motivation, purpose and orientation towards sustainable development, the results of analysis show that it serves urgent needs of people living in megacities. With specific mission as a game changer in Vietnam business landscape, green entrepreneurship is promoting sustainable development of both society and environment. Using extensive conceptual analysis and taking closer look at tens of small Vietnamese businesses operating in three leading green sectors of the economy in Ho Chi Minh City, the article revealed how important is green entrepreneurship in megacities; how to promote it for the purpose of offering a better quality of urban life. Finally, the article proposed several solutions to enhance green entrepreneurship understanding and to further so far achievements in the future; to promote the synergy effect with other forms of social entrepreneurship for the purpose of sustainable development.
Keywords: green entrepreneurship; social entrepreneurship; sustainability issues; game changer; Vietnam.
The effect of servant leadership on employee turnover in SMEs: The role of career growth potential and employee voice
by Okechukwu Amah, Kabiru Oyetunde
Abstract: The poor contributions of SMEs in Nigeria have been a source of concern to government, researchers and the SMEs themselves. Studies have established that high employee turnover is a major cause of the abysmal performance of SMEs. Hence, the study explored the role of servant leadership and the work climate created by the servant leaders in the reduction of employee turnover in SMEs. The study involved 1000 participants drawn from 200 SMEs in the city of Lagos. Cross-sectional data was acquired through questionnaire designed in such a way as to minimise common method variance. Results indicate that servant leadership reduced employee turnover, and that employee voice and the career growth dimensions partially mediated this relationship. The study variables explained 59% of the variance in employee turnover. The paper highlights that SMEs leaders who adopt servant leadership behaviour can reduce employee turnover directly and through the positive work environment they create.
Keywords: SMEs; Servant leader; work climate; employee voice; career growth potential; turnover intention; Nigeria.
INTERROGATING CLUSTER ENTREPRENEURSHIP THE NIGERIAN ARTISANAL EXPERIENCE
by Funmilayo Afolabi, Sanya Ojo
Abstract: The artisanal entrepreneurial clusters are bounded enterprise spaces that facilitate the convergence of proximate businesses in the informal sector. These bounded spaces are governed by their own ethics and practices, which are underscored by the local tradition and customary ethos. Through a qualitative interview methodology, respondents rational and non-rational perspectives are found to dictate entrepreneurial clusters rituals and praxes. The rational and non-rational explanations include the cultural view of the entrepreneurs, which offer in-depth understanding of how people in particular setting interpret events such as the causes of accident in the workplace, competition pressure, sexual harassment, etc.
Keywords: Cluster entrepreneurship; Artisans; Occupational Health and safety; Attribution; Nigeria.
DOES INDUSTRY EXPERIENCE POSITIVELY MODERATE THE QUADRATIC RELATIONSHIP BETWEEN COOPETITION AND FINANCIAL PERFORMANCE? EVIDENCE FROM THE NEW ZEALAND WINE SECTOR
by James M. Crick, Dave Crick, Jessica M. Peixinho
Abstract: Earlier research has established the positive relationship between coopetition (the interplay between cooperation and competition) and company performance. However, typically a linear relationship is investigated and without potential moderating factors. This investigation draws upon resource-based theory and its association with the relational view, involving a mixed-methods research design. Quantitative findings are based on survey data from a sample of 101 smaller-sized vineyards and wineries in New Zealand (passing all major assessments of reliability and validity, including common method variance and endogeneity bias), but supplemented with how and why interview data from owner-managers of 20 firms. The results indicate that coopetition has a quadratic relationship with financial performance, suggesting that decision-makers should avoid engaging in not enough or excessive degrees of coopetition. Furthermore, industry experience positively moderates this quadratic link; for example, assisting decision-makers to facilitate access to trustworthy and complementary relationships offering mutually beneficial outcomes. This investigation offers unique insights that contribute to the extant literature regarding the relationship between coopetition and financial performance, additionally, practitioner implications and avenues for future research.
Keywords: Coopetition; industry experience; resource-based theory; relational view; financial performance; small businesses; entrepreneurship; mixed methods research; New Zealand wine sector; resources and capabilities; inter-firm relationships.
Brain Gains: A Cross-Country Study on the Relationship Between Remittances and Entrepreneurship
by Joshua Bedi, Shaomeng Jia, Claudia Williamson
Abstract: This paper asks: do remittances promote entrepreneurship? Remittances have become one of the largest financial inflows for developing countries. By directly providing relief, remittances are an important income and capital source for family members of immigrant workers in home countries. We hypothesize and empirically document a positive link between remittances and entrepreneurship rates across countries. Our results suggest that remittances promote early-stage business development, particularly for opportunity-seeking entrepreneurs. In addition, we find that entrepreneurs with a secondary education and from a middle-class background benefit more from remittances.
Keywords: Remittances; Entrepreneurship; Development; Immigration; Financial Inflows; Brain Drain; Brain Gain; Early-Stage Entrepreneurship; Opportunity-Driven Entrepreneurship; Diaspora Investment.
Financial literacy, value creation and firm performance. An investigation of Italian small and medium enterprises
by Andrea Quintiliani, Michele Modina, Massimo Arnone
Abstract: This article aims to determine the influence of entrepreneurs financial literacy for the growth of SMEs value. The paper verifies the hypothesis that there is a significant relationship between financial literacy and value creation, as indicated by economic value added (EVA
Keywords: financial literacy; financial education; small and medium-sized enterprises; SMEs; entrepreneurship; firm performance; value creation; economic value added.
What will (and should) sustainable digital maturity look like in business ecosystems? A Delphi study on the best practices, barriers and regulation of digital transformation
by Fabio James Petani, Ishraf Zaoui, Sergey Kovalev, Pascal Montagnon
Abstract: Digital transformation is a necessary condition for organisational survival and business success. The best performing organisations around the world adopt mature digital innovation strategies across functions and in every industry to compete through evolving products, services and organisational processes, pursuing new capabilities, resources and markets, via agile technologies and new business models. The capacity to capture business value through digital transformation involves managing a broad generative change in culture, corporate governance and executive leadership, across organisational dimensions. Entrepreneurs and organisations need to know more about which technologies, best practices and barriers will drive or hinder a sustainable digital maturity in the future of business ecosystems. A Delphi study is conducted with an international panel of experts from the academy, management consulting firms and industry leaders on how digital transformation might unfold and be regulated tomorrow, exploring ethical aspects of what sustainable digital maturity will (and should) look like.
Keywords: digital maturity and transformation; sustainability; Delphi study; best practices and barriers; regulation; business ethics; digital technology regulation; responsible innovation; business ecosystems; expert forecast.
Perception of entrepreneurship and entrepreneurs. Institutional celebration or stigmatisation?
by Beata Glinka, Eszter Megyeri, Gabriella Tabajdi
Abstract: Perceptions of entrepreneurship and attitudes towards entrepreneurship and entrepreneurs are a crucial element of a cultural context, influencing not only the way entrepreneurship is interpreted but also the behaviour of individuals as entrepreneurs, employees, and customers. The main purpose of this qualitative study is to assess and compare students perceptions of entrepreneurship and entrepreneurs in three countries in Central and Eastern Europe (CEE): Poland, Czech Republic, and Hungary.1 The authors introduce concepts and theories on the cultural context of entrepreneurship and present brief relevant information about the economic background of the three countries under consideration. The results of the present study indicate that despite many common political, economic, and social forces shaping the situation in Poland, Czech Republic, and Hungary, perceptions of entrepreneurship tend to differ across areas. The paper contributes to the understanding of the cultural context of entrepreneurship in CEE countries and demonstrates that the perceptions of entrepreneurship and entrepreneurs can be an important, and often overlooked, element of the cultural context of entrepreneurship, shaping the decisions and actions of individuals.
Keywords: entrepreneurship; cultural context of entrepreneurship; perception of entrepreneurship; CEE countries.
The role of the entrepreneurial leader: A study of Nigerian SMEs
by Ibiyemi Omeihe, Christian Harrison, Amon Simba, Kingsley Omeihe
Abstract: Growing evidence points to the role of entrepreneurial leadership in enhancing positive business outcomes. Yet little is known about the entrepreneurial leadership attributes and skills exploited by entrepreneurial leaders within a developing economy context. This study examines the role of entrepreneurial leadership within fashion SMEs. It exemplifies the entrepreneurial leadership attributes and skills employed by entrepreneurial leaders within Nigerian fashion SMEs. Based on 14 semi- structured interviews of entrepreneurial leaders, we found out that: (1) five broad skills namely; technical, conceptual, interpersonal, entrepreneurial and expectation management skills are employed by entrepreneurial leaders ; (2) entrepreneurial leaders rely on 7 attributes namely; hard work, long term view, passion, length of service, creativity, innovation and vision in the pursuit of their business ventures; (3) creativity and innovation are key attributes within the fashion sector ; (4) vision is described as the most important attribute an entrepreneurial leader should possess. Finally, this study recognises the interaction between attributes and skills, which serves as a foundation for understanding the transition process of entrepreneurial leadership attributes to skills. In addition, it provides new insights on the classification of competencies and it presents an instructive entrepreneurial leadership model for guiding such a categorisation.
Keywords: Entrepreneurial Leadership; Entrepreneurial Leader; Attributes; Skills; Small and Medium sized Enterprise (SME); Entrepreneurship; Leadership; Developing Economy.
EXPLORING NEXUS BETWEEN PROCRASTINATION AND ENTREPRENEURIAL INTENTIONS: A PREDICTIVE PLS-SEM APPROACH
by Sandeep Singh, Rajni Bala, Priyanka Sharma
Abstract: The aim of the study was to explore the relationship between procrastination and entrepreneurial intentions. The available literature strongly indicated that procrastination has a negative effect on entrepreneurial intentions. In the present study relationship between entrepreneurial intentions was examined with avoidant and decisional procrastination. The data were collected from five MBA institutions of Mohali district of Punjab (India). Out of these five institutions, a sample of 199 students was selected based on convenience sampling technique. The results revealed that there was a significant impact of avoidant and decisional procrastination on entrepreneurial intentions and nature of the relationship was negative. The study provides a healthier scope of future research.
Keywords: Procrastination; Entrepreneurial Intentions; Students; Avoidant; Decisional; Punjab; PLS-SEM; MBA.
Enablers and Inhibitors of Cloud Computing Adoption in Indian Small and Medium sized Enterprises
by Devesh Kumar, Harsh Vardhan Samalia
Abstract: The information and communication technologies (ICTs) penetration and adoption among Indian SMEs is low because of the high cost of ICTs and other complexities involved in using and maintaining these. In such a scenario, cloud computing can be a good option for SMEs for accessing and using appropriate ICTs in a cost-effective way. Through cloud computing, SMEs can get access to the latest ICTs using internet on a pay-per-usage basis without actually buying and maintaining such ICTs locally. However, there are some challenges like security and privacy of business data, connectivity issues and vendor lock-in, which may prevent SMEs from using cloud computing. The objective of this study is to understand and assess factors which enable or inhibit adoption of cloud computing among SMEs in India. For this, data were collected from 121 SMEs from a prominent industrial area in the northern region of India. Confirmatory factor analysis and multiple regression analysis techniques were applied for data analysis and for drawing the conclusion.
Keywords: cloud computing; adoption; India; small and medium enterprise; SME; micro; small and medium enterprise; MSME; information and communication technology; ICT; SaaS; enablers; inhibitors.
Startup - India: An exploratory analysis of issues, challenges, and the road ahead
by Sarika Sharma, D.P. Goyal
Abstract: Startups are a rising trend among young budding entrepreneurs in India. Having a strong ecosystem globally ranked among third has given the rapid increase in the number of newly established startups. To promote the entrepreneurship in India, government has launched Startup-India initiative. But the percent of businesses that fail is also significant. There are various challenges faced by startups in India both in urban and rural area. The present study addresses the issues and challenges faced by startup companies in India through exploratory qualitative research. The method used for data collection is semi-structured interviews through open-ended questions. The investigation is based on a sample of 148 startups from all over India. The Inductive method was used for qualitative data analysis using the software AQUAD 7.0. The challenges emerged are also presented as a comparison with the existing literature. The findings and suggestions may be useful to the policymakers and entrepreneurs.
Keywords: Startup-India; Indian Startups; Challenges; Issues; Qualitative analysis.
Explaining Women Entrepreneurship in Bhutan: An Interpretative Phenomenological Analysis
by Madhura Bedarkar, Yogesh Brahmankar, Tenzin Rabgay, Kinley Yangdon
Abstract: The study explores the experience of women entrepreneurs in the unorganised sector of Himalayan Kingdom of Bhutan. Interpretative phenomenological analysis was used to discover the experiences of the women entrepreneurs and 12 super-ordinate themes were drawn. It is found that the motivational factors to take up entrepreneurship varied from having to support family to taking up entrepreneurship as career option due to low education. Access to finance; work-family conflict; fragmented and saturated markets; lack of infrastructural support; difficulty in hiring employees are some of the challenges faced. The findings are mostly consistent with similar previous studies conducted in the region. The study proposes that sector-specific micro-finance schemes and a collaborative network of government and non-government organisations would help in addressing the challenges faced by women entrepreneurs. This research is among the initial studies conducted in Bhutan pertaining to women entrepreneurship and in particular using IPA to explore the in-depth experiences of the women entrepreneurs.
Keywords: women entrepreneurship; interpretative phenomenological analysis; IPA; Bhutan; informal and unorganised sector.
Understanding the Motivating Factors for Women Entrepreneurs: Empirical Insights from Indian Micro Enterprises
by Sheela Bhargava, Rachita Rana
Abstract: This study is about women entrepreneurs engaged in micro enterprises, their socio-demographic characteristics, their challenges and the factors motivating them to start business in an urban setting in India. With the intention of attaining deep insights into the current conditions, motives and challenges of Indian urban women in entrepreneurship, a survey of 284 women entrepreneurs running micro enterprises in various areas of service sector like education, (e.g., play schools & coaching centers), beauty care & treatment (beauty parlours/salons), tailoring boutiques, day care centers (cr
Keywords: Women entrepreneur; urban economy; factors motivating to starting business; socio-economic development; NCT (National Capital Territory) of Delhi; personal factors; economic factors; social factors; micro enterprises; service sector; entrepreneurship; MSMEs (Micro; Small and Medium Enterprises); economic development; financial constraints; government support.
Entrepreneur gatekeepers and adaptors of knowledge in emerging food processing clusters in Ghana
by Anthony Ayakwah, Leandro Sepulveda, Fergus Lyon
Abstract: Development, prosperity and sustainable livelihoods in Africa requires knowledge and technology adapted to local contexts. This paper argues that entrepreneur gatekeepers within developing economy clusters can become potent conduits for adapting technology but research overlooks their role, particularly when they are operating as part of the informal economy. This study therefore addresses this knowledge gap through a qualitative empirical study of two food processing clusters in Ghana. Gatekeepers are identified as those entrepreneurs who bring tacit and codified knowledge to be shared throughout a cluster, and also adapt technology to local contexts. The informal nature of the African economy shapes these processes with knowledge shared through personal trust based relationships, the movement of labour between businesses and work of artisan engineers who adapt technology. Innovation support in an African context therefore needs to work with these entrepreneur gatekeepers as well as larger companies and public institutions.
Keywords: entrepreneur gatekeepers; cluster; technology; food processing; informal sector; Africa; Ghana; multinational companies.
Interpretive Structural Model (ISM) and MICMAC for Facilitators and Barriers to Small scale Potato Processing Industry among Self-employed Farmers
by Jaspreet Kaur, Ashima Gupta
Abstract: The purpose of this paper is to identify the challenges and enablers for potato processing industry among farmers in Agra region, Uttar Pradesh, India. The study was exploratory in nature. It used interview method from farmers which included open ended questions with sample of five districts from Agra region. Interpretive structural model (ISM) was used to determine the structural relationship between different challenges identified from the interviews from farmers. The results of the study were two-fold. It included enablers and challenges to PPI among farmers. ISM resulted that, decreasing land size was the problem of much concern and root cause of the problem was low education level, unfavourable environmental factors and long supply chain. Further, MICMAC analysis helped to determine the most driving and dependence factors. Government policies, developing entrepreneurial intentions, technical know-how and expertise were found to be important enablers for PPI.
Keywords: potato processing industry; PPI; farmers; agriculture; enablers and challenges; interpretive structural model; ISM; MICMAC analysis.
Women entrepreneurship motivational factors: analysing effect through the conceptual competency-based framework
by Sucheta Agarwal, Vivek Agrawal
Abstract: The present study overcomes the void in academic literature by establishing a conceptual framework relating to women's entrepreneurship competency development. Based on an analysis of the current literature and using resource-based view theory, social learning theory, role theory, and the theory of social identity, this research provides a conceptual framework with personal, social, and environmental motivating factors as its core constructs for competency development for the growth of their enterprises. The motivational factors affect women entrepreneurs' entrepreneurial learning (formal and informal learning) to improve their skills, talent, and competencies, which help them achieve success in the development of enterprises. These factors are the balance between family and work responsibilities, self and social identity of women entrepreneurs, entrepreneurship education and training, experience of women, visibility and interaction with role models, influence of family and friends, awareness about government, non-government organisations (NGOs) and financial institutions promotional schemes, and impact of culture. It is one of the leading research that discusses women entrepreneurs' growth through the conceptual competency-based framework and it is also a contribution to the literature in women entrepreneurship.
Keywords: women entrepreneurs: social identity” support organisations; motivation; competency; entrepreneurial learning.
Social Media Marketing Adoption by unorganised businesses in India: A technology adoption model based approach
by Sarika Sharma, Archana Singh, Sonica Rautela
Abstract: The unorganised sector although not so well accepted but plays a major role in Indian economy and employment generation. These small businesses heavily rely on customers for their survival therefore marketing plays an integral part. Social media marketing (SMM) with its wide reach and affordability can help them provide much needed marketing boost. The purpose of this paper is to find the adoption intention of SMM by unorganised businesses. With the help of existing literature a theoretical model is proposed based on widely accepted technology adoption model (TAM). This model is then empirically evaluated with a data of 248 unorganised businesses in India using structural equation modelling (SEM). The results highlight that perceived ease of use impacts the intention to use social media marketing as well as it impact perceived usefulness. Cost effectiveness and interactivity have no impact on intention to use SMM. The moderating effect of gender and educational level is also presented in the paper.
Keywords: Social media marketing; unorganised business; technology adoption model; structural equation modelling; cost effectiveness; interactivity.
Women-owned, home-based businesses: The effects of location on growth
by Zeevik Greenberg, Eli Gimmon, Yanay Farja, Yahel Kurlander
Abstract: Purpose: Building on institutional theory, this research explores spatial-institutional contexts differentiating between women-owned businesses located in periphery and core regions, and between home-based and away-from-home businesses. The design relies on mixed methods: we conducted a quantitative survey of 156 women entrepreneurs from core and periphery regions in Israel, followed by a qualitative survey of nine women entrepreneurs using semi-constructed, in-depth interviews. The characteristics of women-owned businesses were corroborated using a sample of men-owned businesses for comparison. The findings suggest that the choice of locating a business at home is often gender-driven, as it allows upholding of the gender contract while still breaking the glass ceiling. Furthermore, the findings suggest that gender and location affect business performance: women-owned home-based businesses in peripheral regions enjoy higher growth than similar businesses in core regions or similar businesses owned by men. The study bears practical implications for women entrepreneurs in peripheral regions, in all business sectors, suggesting that running a business from home is an advantage. Originality: This is a first-of-its-kind examination of the intersection between home-base and peripheral location and its effect on women-owned businesses, as well as the influence of spatial-institutional contexts on business growth. The study corroborates the institutional theory and the feminist perspectives of gender occupation by exploring factors that drive women to start and expand home-based businesses.
Keywords: Women's entrepreneurship; Business growth; SME; Home-based; Peripheral regions; family.
Training needs for successful businesswomen: a narrative analysis of stories of women entrepreneurs
by May Portuguez Castro, Marcela Georgina Gómez Zermeño
Abstract: This research is a qualitative study that develops a narrative analysis of the entrepreneurial experiences of two women business owners in the State of Nuevo Leon, Mexico. This study sought to understand the training needs of female entrepreneurs from the experiences of these women who started their own companies. This issue of entrepreneurship arouses much curiosity and interest in the characteristics of the people who undertake it and how they develop their plans. It is essential to analyse the experiences of entrepreneurs to incorporate the lessons learned into training programs that fulfil the needs and learning styles of people starting and operating their own companies. The women consulted recommended as the key topics in a training program the incorporation of the family into the training processes, the methodologies for scaling up businesses, tools that facilitate the management of revenue, expenses, and earnings, activities that increase self-efficacy, how to search for funding resources and investment capital, and networking.
Keywords: education for entrepreneurship; narrative research; gender equality; women and development; social justice; higher education; educational innovation.
Drivers of Critical Thinking among Women Micro-Entrepreneurs in Ghana
by Fanny Quagrainie, Murat Erogul, Afia Dentaa Dankwa, Alan Kabalan
Abstract: The study investigates critical thinking behaviours of women micro-entrepreneurs in Ghana by examining how life experience, education, use of Internet, social engagement and self-criticism act as antecedents of critical thinking behaviours using age as a mediator. 336 women micro-entrepreneurs were identified in Accra and Tema. Findings reveal that antecedents of critical thinking in developed and developing contexts can vary and age is a mediator that equips women micro-entrepreneurs with knowledge and skills that are useful for critical thinking. The paper contributes to the female entrepreneurship literature that critical thinking among women micro-entrepreneurs can be enhanced as a socially situated practice, emphasising the emergent understanding of critical thinking as embedded within social processes and context.
Keywords: critical thinking; micro-entrepreneurs; women; age; Ghana.
Moderating role of Personal Attitude , Social Norms and Self efficacy on the relationship between Protean career pattern and Entrepreneurial orientation among students in India : A structural equation modelling approach.
by Meha Joshi, Girish Chandra Maheshwari, Rajan Yadav
Abstract: The change in the mindset of millennials has led to the emergence of several new career patterns. It has been observed over the years that millennials do not want to follow a rigid career path rather they look for unconventional kind of career, which is self-directed and value-driven, also called as Protean career. This paper aims at investigating the difference in Protean career orientation among the students of Management of select Business schools of Delhi based on their gender. Moreover, the study aims at understanding the moderation effect of Personal Attitude, Self-efficacy and Social norms on the relationship between protean career orientation and Entrepreneurial orientation of the students. Data was collected from 250 students pursuing Management education in select Business Schools in Delhi and NCR. The data was analysed using Structural Equation Modelling and the software used was AMOS 20. The results show that there is no significant difference in the Protean career orientation and Entrepreneurial Orientation of students based on their gender. Personal attitude and Social norms are found to be significantly moderating the relationship between Protean career orientation and Entrepreneurial Orientation. Self-efficacy did not show the moderation effect on the relationship between Protean orientation of students and Entrepreneurial Orientation. The study has several implications. The study would add some significant perspectives on the ongoing efforts towards giving a boost to Entrepreneurship in India to deal with present-day challenges of Unemployment. Also, it will help in understanding the emerging protean career among the students.
Keywords: Gender; Protean career; Millennials; Self-efficacy; Entrepreneurship; Structural Equation Modelling; Social Norms.
The Utilisation of Digital Media for Branding Startups
by Demetris Vrontis, Alkis Thrassou, Milena Viassone
Abstract: The critical and irrevocably strengthening role of social media and mobile technology in brand building strategies is naturally reflected in extant literature. The latter, however, focuses on practices of established companies, without paying due attention to startups, and only considering specific aspects of these, such as their dynamic branding models and flexible branding processes. This paper aims at this gap and investigates how startups differ in their utilization of social media and mobile technologies for branding purposes, in terms of requisite means and aims. The findings highlight visible differences between startups and established companies, in terms of strategic aims, use and prioritisation of benefits gained and barriers to implementation. Methodologically, the research rests on a mixed-method approach comprising interviews, secondary data, observation, expert panel control and a multiple case study of three Italian startups; and conceptually develops descriptive findings towards prescriptive conclusions and implications of both scholarly and industry worth.
Keywords: digital media; mobile technologies; social media; branding; startups; interviews; secondary data; observation; expert panel control; multiple case study.
Succession in times of financial uncertainty: a case of German construction family business through the accountants lens
by Zaidoon Alhatabat
Abstract: Succession in family businesses in times of financial uncertainty is the topic of the current study. The study highlights conflicts that may arise when sharing management and accounting functions and when seeking to determine senior management succession, as investigated through the accountants lens. Bourdieus theory of practice is used as exploratory and explanatory theoretical foundation, which supports data collection and analysis. A qualitative methodology is employed to focus in particular on family members perceptions of their family business situation and family habitus. Data was collected via two methods: interviews and participant observation, due to available access and also for the purpose of triangulation. The former took place formally and each interview was manually transcribed, the latter took place in an informal setting, thus no taping or immediate transcripts were possible. The studys findings illustrate a case of succession in a small German family business in times of financial uncertainty. It explores the habitus of the family in the context of the business, and utilises the accounting habitus to analyse data through the accountants lens.
Keywords: German family business culture; Bourdieu; succession; family habitus; accountants’ habitus.
Social skills in family business succession: Going beyond economic-centred goals
by Hedi YEZZA
Abstract: This study builds on previous research on the required competencies of potential CEOs in the family succession process. Whilst aiming to improve the family business literature by exploring the particularities of emerging economies in Africa, this studys main objective is to highlight the importance of a successors social skills during the succession process, taking into consideration non-economic-centred goals. For this purpose, both qualitative and quantitative methods were applied. First, we conducted five qualitative case studies among Tunisian family business firms. Then, we strengthened our results with a quantitative study by using 105 questionnaires with family business companies that experienced at least one succession in their recent history. The results show that social skills play an important role and have a positive impact on non-economic-centred goals. These goals rooted in studies developed around the socio-emotional wealth concept will be discussed in this paper.
Keywords: family business; social skills; successors; non-economic centred goals; socio-emotional wealth.
An Empirical Study on Present State of Agriculture Entrepreneurship and Its Barriers
by Rahul Dhiman
Abstract: The purpose of this paper is to identify problems faced by agripreneurs in Himachal Pradesh. The study is conducted in three development blocks of Solan district of Himachal Pradesh using multi-stage random sampling. The findings of the study reveal the major barriers that are being faced by the agripreneurs in the state of Himachal Pradesh and reveals that agriculture is basic entrepreneurial activity adopted by the farmers followed by horticulture, livestock, fishery and poultry. Also majority of the farmers have inherited the business. It is also found that majority of the entrepreneurs feel that they are not taking advantage of any scheme since this involved a large amount of running around and also feel that procedure to make use of such schemes is cumbersome. This avoids them to remain away from using various government schemes. The study further reveals that the major problems faced by farmers are associated towards not having appropriate information regarding start up of an enterprise followed by lack of entrepreneurial skill or management skills, retention of labour force, shortage of knowledge to contract with workers, marketing problems, unavailability of information on changing state of affairs, inadequate scientific support, shortage of resources, large amount of paper work and tight repayment schedule. It is also recommended to the government to further simplify the process of making use of schemes and the development of marketing facilities in local areas.
Keywords: Agripreneurship; agripreneurship barriers; entrepreneurial skills.
Exploring Organisational Agility in SMEs
by Saad Zighan, Nidal Dwaikat
Abstract: SMEs in Jordan are facing unanticipated and rapid changes in their business environment. With a view to improve the sustainability and survival of SMEs in Jordan, this study investigates the application of organisational agility in terms of innovation, flexibility, responsiveness, adaptability and resilience. Drawing on semi-structured interviews with 53 furniture manufacturing SMEs in Jordan, the study finds that SMEs do not adopt agility in comparison to larger organisations. They face several resource constraints and financial frictions represent a severe obstacle for the development of SMEs agility. In terms of increasing their agility, the results show that manufacturing SMEs can leverage their employees skills and capabilities in an efficient and effective manner, which will, in turn, offer a significant and simultaneous effect on the organisational agility. The results also indicate that customer-orientation, service-provision and strategic collaboration have a substantial effect on the development of the SMEs agility.
Keywords: SMEs; Agility; Innovation; Flexibility; Responsive; Adaptability; Resilience.
The Determinants of Non-family Employees Turnover Intentions in Family Firms
by Omer Yazici, Esra Memili, Pankaj C. Patel, Veland Ramadani
Abstract: While research on the organisational behaviour and HRM (i.e., organisational identification, justice, commitment, and turnover intentions) in family business contexts has been advancing, the empirical investigation of non-family employees perceptions has been still scarce. Drawing upon the family influence literature and organisational identification, justice, and commitment theories, we explore the determinants of non-family employees turnover intentions. Specifically, we examine the impact of non-family employees family firm identification and perceived justice on family firm commitment, in turn affecting turnover intentions. Furthermore, we examine the moderation effects of perceived family influence on these links. Our findings demonstrate that non-family employees family firm identification and perceived justice positively affect their family firm commitment, which in turn lowers turnover intentions. While family firm commitment mediates the relationship between family firm identification and turnover intentions, perceived family influence moderates the mediation effects of family firm commitment between family firm identification and turnover intentions.
Keywords: non-family employees; employee commitment; turnover intentions; organisational identification; family business.
The importance of e-commerce adoption to boost small enterprise growth in the South African tourism industry
by Boris Urban, Willem-Friso Van Der Putten
Abstract: Recognising there are several problems related to e-commerce adoption, which is primarily researched at a large firm-level in developed countries, the purpose of this study is to evaluate factors that may influence e-commerce adoption amongst small and medium enterprises in the South African tourism industry context. Results indicate that organisational resources in terms of communication and commitment, and environmental resources in terms of market e-readiness were found to be significant factors in relation to e-commerce adoption. Moreover, the size of the enterprise was a significant indicator of e-commerce adoption across all factors related to the technology-organization-environment framework. By applying an empirical and theoretical lens this study has increased the relevance of both the technology-organization-environment framework and e-commerce adoption by expanding it from mostly a descriptive nature to a topic that examines important relationships between these constructs in an emerging African market context.
Keywords: e-commerce; adoption; technology; organisational; environmental; small and medium enterprises; tourism; South Africa.
Kosovos Initial-Stage Venture Capital Market: Challenges and Perspectives
by Herolinda Murati-Leka
Abstract: The market evolution is a consistent process associated with different challenges which increases the complexity of an economy. One of the main barrier facing in this process would be the disparity of information known as the presence of asymmetric information in these markets. Asymmetric information problem is especially severe in developing markets. This study provides new insights into research on venture capital in emerging markets with a special emphasise in the case of Kosovo. The idea of this paper is to examine the state of the market of Kosovo in general, than analyse and understand the business environment and other macroeconomic conditions in order to have a deep view of the Kosovos economy. The recommendations given in this study not only have important implications for the start-up companies and the business area in general, but also have a significant meaning for the policy making of government to make the business climate a relatively fair information environment for perspective domestic and foreign venture capital investors.
Keywords: venture capital; emerging markets; ICT; SMEs; start-ups.
The Extent of Technological Innovation Adoption among Micro, Small and Medium Food Processing Enterprises and its Effects on Poverty Reduction
by Kenneth Barroga, Agnes Rola, Dinah Pura Depositario, Larry Digal
Abstract: This studys main research question as contextualised for Davao region, Philippines, is what are the effects of the extent of technological innovation adoption (TIA) among micro, small, and medium food processing enterprises (MSMFEs) on the persistent developmental issue of poverty? This study involved DOSTs Small Enterprises Technology Upgrading Program (SETUP) under which financial assistance for MSMFEs is provided to enable them to adopt technological innovations to boost productivity. Primary data were obtained through a census of 52 MSMFEs and key informant interviews. The analytical tools used were a composite index construction, an ordered logistic regression analysis, and a before-and-after approach to impact evaluation. The adoption indices ascertained which MSMFEs did not adopt the technological innovations of SETUP and which ones adopted less, moderately, and highly or fully. There was a positive and significant impact of TIA on MSMFEs annual gross sales, employment, and daily wage rates of direct workers; thus, contributing to poverty alleviation. Given these promising findings, this study suggests that, among the menu of available poverty reduction strategies, one with far reaching potential is that of strengthening the MSMFEs through TIA.
Keywords: impact assessment; ordered logistic regression; poverty; SETUP; SME; technological innovation adoption; TIA.
Entrepreneurial intention and its antecedents: A study of undergraduate students in the Uttarakhand state of India
by Shweta Belwal, Rakesh Belwal, Anamika Chhetri
Abstract: Successful promotion of entrepreneurship requires an understanding of entrepreneurial intentions (EI) among the subjects. The purpose of this paper is to study the relationship between EI and its antecedents concerning the undergraduates in India. This research is based on the Theory of Planned Behaviour (TPB). Extending the TPB framework, a hypo-deductive research-based approach was used to test the hypotheses associated with EI and its antecedents. An adapted version of the Entrepreneurial Intention Questionnaire (EIQ) was used to collect data using the survey method. Partial Least Square method was used to test the hypotheses. The results reflected that personal attitude, perceived behavioural control, and University Support make a significant positive impact on the EI of undergraduates. No significant positive association between other antecedents of EI (i.e., entrepreneurial support, social norms, general self-efficacy) and EI was found. The moderator effect of gender and family background between the antecedents of EI and EI was not supported. The outcomes appeal establishment and promotion of social norms favouring entrepreneurship which appear neutral, at this stage. The outcomes reiterate the importance of personal attitude, perceived behaviour control, and University Support as the key influencer in the given context and demand university authorities and policymakers to boost EI of students by taking cognizance of these factors.
Keywords: India; Entrepreneurial intention; undergraduates; antecedents; education.
Entrepreneurial motives in Greek rural areas: "Opportunity" or "Necessity"?
by CHARISIA VLACHOU, OLGA IAKOVIDOU, PANAGIOTA SERGAKI, GEORGE MENEXES
Abstract: Entrepreneurship is vital he development and sustainability of rural areas. This research examines the motives for entrepreneurship in rural areas in Greece and delves further into the form of entrepreneurship based on the motives prevailing in these areas. The data collection was conducted through personal interviews totalling 240 questionnaires, disseminated among entrepreneurs. Understanding business motives may provide valuable information for policymakers to facilitate or develop a favourable business environment in rural areas. Equally important is the identification of entrepreneurship (opportunity or out of necessity), as it can shape the socioeconomic development of the rural communities in which the businesses are located. The search for motives for start-up business activity, especially in rural areas, is important, as it demonstrates the extent to which activities are real business efforts based on an internal need, or recognition of an opportunity, or a response to adverse economic circumstances, including unemployment.
Keywords: entrepreneurial motives; ‘necessity-opportunity’ entrepreneurship; rural areas; ‘push-pull’ theory.
Towards More Qualitative Research Paradigms in Nascent Entrepreneurship Research
by Maha Aly
Abstract: This paper argues that the research community may need to pay more attention to the value of qualitative research paradigms for the identification of behavioural patterns of nascent entrepreneurs. It presents a methodological approach to gain insights that complement significantly the current mainstream quantitative research. This paper highlights, justifies and explains the methodology used in an empirical study (example) exploring the behavioural patterns of nascent entrepreneurs in Germany during the early bootstrapping phase. Both grounded theory and ethnographic research techniques are used to uncover hidden explanations for entrepreneurial decision-making. Weaved together by methodological triangulation, the paper shows the potential explanatory power of qualitative research in the context of nascent entrepreneurs. It allows for an in-depth view into why and how qualitative methods are used to address certain behavioural patterns in the field of entrepreneurship. The mix of methods here is not common in the context of entrepreneurial empirical research, but borrowed from anthropology.
Keywords: research methodology; qualitative; inductive; grounded theory; ethnographic research; nascent entrepreneurship; anthropology.
Reward crowdfunding and the success of campaigns: exploring the role of social capital of entrepreneurs and investors
by Ciro Troise, Sergey Yablonsky
Abstract: Crowdfunding is a popular fundraising system leveraged by several entrepreneurs to support their business, in particular start ups and SMEs. This research presents a first examination of social capital developed within crowdfunding platforms by the two main actors involved in this mechanism, namely the entrepreneurs and the investors. The research examines the impact of social capital of both these actors on funding success. We use several parameters in order to measure social capital and we collected data through Ulule, a well-known platform of reward-based crowdfunding. The results show that projects backed by entrepreneurs before the launch of their own project positively affect the funding success, while the projects followed by entrepreneurs have negative effects. Instead, projects followed by investors have a positive impact on funding success as well as the number of expert investors. The research will offer several implications for different stakeholders.
Keywords: entrepreneurship; social capital; crowdfunding; entrepreneurs; investors.
Epistemology of Business Incubators and the Incubation theory
by Apoorv Ranjan Sharma, Balvinder Shukla, Manoj Joshi
Abstract: This scholarly contribution attempts to explore the role of business incubators (BIs) on Indian start-ups, leading to unanswered queries. Can it impact innovation? How does it leverage job generation? Does it lead to an effective business creation? The authors manoeuvred to an important posit on BIs impact on job generation, wealth creation and economic development of India. Primary data through structured and unstructured interviews was chosen as a research method, with founders of start-ups, entrepreneurs and BIs. Out of the existing 40 BIs spread across PAN India, barring few, most responded. A healthy start-up spin-off from these BIs leads to job generation in turn wealth creation. The research provides an insight to the Indian perspective based on the interaction with the founders of start-ups and BIs. The authors propose a new business incubation model based on mentoring, which has been tested in reducing the start-up mortality rate by 1%.
Keywords: entrepreneurship; innovation; start-up; business incubators; accelerators; job generation; wealth creation; India.
Multiculturalism and Entrepreneurial Expansion
by Maher Al-Sayah, Charbel Salloum, Quentin Lefebvre, Laura Salloum, Diala Kabbara
Abstract: The social environment plays an important role in forming an individuals ex-ante entrepreneurial experience. Living in a socially diverse environment compels people to be more open toward other communities and their practices. This study is based on revealing the correlation between the fast and multinational Lebanese entrepreneurial expansion and Lebanese social diversity, where cognitive cultural intelligence represents an important part of the ex-ante entrepreneurial experiences. A linear regression was established to analyse the following four topics: the correlation between cognitive cultural identity and adaptation capabilities and business flexibility; the correlation between cognitive cultural identity and the perception of new opportunities; the correlation between cognitive cultural identity and lower entrepreneurial costs; and the link between cognitive cultural identity and faster application accomplishment. The latter revelations are evaluated based on the Lebanese foreign expansion influenced by the countrys extremely diverse social environment. An adapted form of the endogenous growth theory was introduced to fit into the studys approach toward the topic in question.
Keywords: entrepreneurship; cognitive cultural intelligence; endogenous growth; social identity; diversity; Lebanon.
Do Self-Employment Determinants Have a Gender at the Macro Level? A Panel Analysis of OECD Countries
by Brahim Gaies, Adnane Maalaoui, Leo Paul Dana
Abstract: This study investigates whether female self-employment at the country level is similarly or differently impacted by the same factors as is male self-employment. In order to determine these factors, we referred to three major theories explaining the entrepreneurship determinants at the macro level, namely institutional theory, eclectic theory and gender theory. The hypotheses arising from this theoretical framework are tested on the basis of a panel data analysis for the 36 OECD countries over the period 20002014. Our analysis reveals that while certain factors (social perception of entrepreneurship, economic development and gender equality in nascent entrepreneurship) play the same role at the national level with regard to female and male self-employment, other factors (unemployment and normative support for entrepreneurship) have a different influence.
Keywords: women entrepreneurship; applied entrepreneurship in macroeconomics; panel data; Generalized Least Squares (GLS) panel regression model; opportunity discovery; gender gap.
CULTURAL FACTORS AND ARAB FEMALE ENTREPRENEURS IN SPAIN
by Saikat Gochhait, Miriam Cano-Rubio, Rocío Martinez-Jimenez, Sabiha Fazalbhoy
Abstract: In the Arab world, families control most of the businesses located in Asia and the Middle East countries where gender gaps exist and where women have less freedom to directly influence their personal and work lives. In the host countries, formal institutions play a crucial role in affecting womens entrepreneurship. However, many informal factors, such as gender roles and stereotypes, can influence womens behaviour with respect to entrepreneurship. Therefore, this paper analyses the primary motivations of women entrepreneurs in a different cultural environment, Spain, where less than 5% of the adult female population launches businesses. Finally, it discusses how the previously mentioned stereotypes of Arab women influence their initiative in running a business in a psychologically and culturally distant country such as Spain.
Keywords: women entrepreneurship; Arab world; Spain; motives and obstacles; gender stereotypes; total early stage entrepreneurial activity; TEA;Global Entrepreneurship Monitor; GEM; UAE; technological innovations; cultural environment; interpretative phenomenological analysis; IPA.
The impact of COVID-19 crisis on Hungarian small- and medium-sized enterprises
by Peter Karacsony
Abstract: The main purpose of this study is to determine the impact of coronavirus (Covid-19) on small- and medium-sized businesses in Hungary. Coronavirus has a wide-reaching effect on the economy. This study researches the events of the last few months and the impact of the coronavirus on Hungarian small and medium-sized enterprises and their operation. In other words, how has the life of small and medium-sized enterprises been changed by the coronavirus in Hungary? To test the hypothesis, the data of the questionnaire survey was used to assess the effects of the COVID-19 crisis among Hungarian small and medium-sized enterprises. After preliminary processing of the data, questionnaire data from 318 companies were used for further analysis. Only SMEs were included in our sample. In addition, companies with incomplete questionnaires were excluded. During the research it was confirmed that the coronavirus had a significant effect on the daily operation of Hungarian small and medium-sized enterprises and on the changes in the number of employees. The study provides a clear insight into the early impact of the Covid-19 outbreak on Hungarian SMEs, and it assesses the measures taken by Hungarian SMEs during the crisis. This study is novel and up-to-date, and thus can help better understanding of the economic issues of recent months and serve as a basis for further research.
Keywords: coronavirus; COVID-19; Hungary; small- and medium-sized enterprises; economic crisis; management; governmental measures; home office work; profitability; risk.
Ownership experience: its relevance to Philippine micro and small entrepreneurs
by Sheevun Di Guliman
Abstract: This study primarily investigated whether facets of an entrepreneurs human capital predict their ability to identify and eventually pursue an entrepreneurial opportunity. Based on a survey of 390 Philippine micro and small entrepreneurs, through a personally administered questionnaire, this study also probed on the reasons, which led them to business ownership. The regression results suggest that ownership experience is positively related to both entrepreneurs identification and eventual pursuit of such entrepreneurial opportunity. Moreover, the identification of entrepreneurial opportunity is positively driven by the entrepreneurs social welfare motive yet negatively related to an entrepreneurs financial motive. However, results showed that financial motive was the foremost reason that led them to business ownership. Finally, the findings of this study suggest that in economies where resources are limited, entrepreneurial programs may focus more on those with higher ownership experience as they can translate opportunities to actual business.
Keywords: MSMEs; micro; small and medium enterprises; human capital; opportunity identification; opportunity pursuit; ownership experience; necessity-driven; financial motive; social entrepreneurs; developing country; Philippines.
Entrepreneurial imaginativeness, foresightedness and experiential tourism delivery
by Manoj Joshi, Dhiraj A, Meenakshi Gandhi, Soumi Roy, Niharika Jaiswal
Abstract: In a volatile, uncertain, complex and ambiguous (VUCA) world, when all others perspire in chaos, entrepreneurs perceive opportunities! The story of India City Walks, (ICW) is an expedition to the world of opportunities that laid in the disguise of heritage tourism. The purpose of this study is to capture the venture ideation of ICW, based on the imaginativeness of the protagonist and to identify the value of heritage tourism. The entrepreneurial actions were captured using qualitative research techniques, identifying the incumbent firm from amongst 50 start-ups in the tourism cohort. In this research, exploratory research design was adopted with comprehensive research approach and building theory from case. The research attempts to reflect how an entrepreneur Sachin Bansal (Sachin) by harnessing experiential learning, inculcated innovation in the heritage tourism industry by incepting a start-up, ICW, which has remodelled on how heritage & experiential tourism is viewed from Indian perspective.
Keywords: entrepreneurship; entrepreneurial actions; imaginativeness; innovative practices; India City Walks™; ICW™; Sachin Bansal; City Explorers®; Delhi Walks®; Chief Explorer®; small business; foresight.
Entrepreneurship Education: Implications from Recent Findings in Biology
by Ravinder K. Zutshi, Wee-Liang Tan
Abstract: Entrepreneurship education has grown from the early days when there were only a few schools offering courses. The content of the education is drawn from various disciplines. Most of the disciplines that entrepreneurship draws from are from human sciences for example, economics, philosophy, sociology, and psychology. Human sciences are uncertain sciences. However, advancements in the biological sciences, genetics and neurobiology enable scholars in mind-sciences and decision theory to better understand human decision process. It has serious implications for entrepreneurship education. In this paper, we explore these developments and the implications for entrepreneurship education.
Keywords: entrepreneurship education; advances in biology and neuroscience; implications for entrepreneurship programmes.
From perceptions to performance to business intentions: what do women and men entrepreneurs really see?
by Dafna Kariv, Oren Kaplan, Mihai Ibanescu, Luis Cisneros
Abstract: This study aims to decipher women and men entrepreneurs pursuant intentions related to their entrepreneurial business contingency by decoding their perceptions of the environment as opportunities or hurdles to their subsequent financial performance. Drawing on the effectuation model and entrepreneurial self-efficacy, our study reinforces findings on gender differences in perceptions of opportunities and hurdles, particularly on womens higher levels of hurdle as well as opportunity perceptions, revealing womens wider range of financial performance relative to men based on their hurdle and opportunity perceptions. Contradicting some existing research, our study revealed gender similarities in the perceptual conversion of hurdles and opportunities into business intentions, hence introducing novel perspectives on these relations. Implications of the gender and effectuation perspectives for higher education are discussed.
Keywords: business performance: business intentions: gender.
THE NATURE OF THE RELATIONSHIP BETWEEN AN ENTREPRENEURIAL MARKETING ORIENTATION AND SMALL BUSINESS GROWTH:EVIDENCE FROM MALAYSIA
by Muhammad Iskandar Hamzah, James M. Crick, Dave Crick, Syukrina Alini Mat Ali, Noor'ain Mohamad Yunus
Abstract: Guided by resource-based theory, this study examines the nature of the relationship between an entrepreneurial marketing orientation (the interplay between market-oriented and entrepreneurially-oriented behaviours) and small business growth. Survey responses were collected from 421 smaller-sized firms in Malaysia. After assessing the statistical data for all major robustness checks, hierarchical regression was used to evaluate the conceptual framework. The results suggested that on their own, market orientation and entrepreneurial orientation have linear (positive) relationships with small business growth. More importantly, an entrepreneurial marketing orientation exhibited a nonlinear (inverted U-shaped) association with small business growth. Thus, owner-managers are faced with the challenge of fostering an optimal-level of an entrepreneurial marketing orientation to avoid potentially harmful performance consequences. Consequently, unique insights have emerged regarding the complexities of the marketing/entrepreneurship interface, with stronger evidence pertaining to the dangers of implementing too little or too much of an entrepreneurial marketing orientation.
Keywords: market orientation; entrepreneurial orientation; entrepreneurial marketing orientation; small business growth; resource-based theory; emerging economies; Malaysia.
LaunchIt: A case study of entrepreneurship education
by Denise Cumberland, Whitney Peake, Sharon Kerrick, Mary Tapolsky
Abstract: This study evaluates the impact of a U.S. Midwestern Universitys 10-week entrepreneurship training programme on participants attitudes, knowledge gained, and level of satisfaction with the course. We used a pre/post-test quasi-experimental design and collected data from 43 participants in the Spring of 2019. The results showed that attendees increased their knowledge of key components of venture formation, improved their perceived behavioural control (PBC), and were highly satisfied with the programme. The findings contribute to the literature on entrepreneurship education.
Keywords: Entrepreneurship training programmes; Entrepreneurial education; Perceived behavioural control(PBC).
Strategic Business Model Canvassing for Terracotta Pottery Entrepreneurs in India
by Anupama Panghal, Shweta Dahiya, Shilpa Sindhu, Parveen Siwach, Bharat Dahiya
Abstract: The paper discusses strategic entrepreneurship vis-à-vis terracotta pottery production in Delhi, India. Pottery artisans face changing regulatory and market forces, which could result in a severe financial and technological burden on them. The study suggests strategies to protect this sustainable and traditional art of entrepreneurship. Present status of business of potters' community is examined using the business model canvas (BMC) and Porter's (2001) industry analysis and value chain model, and a new BMC is proposed. The strategies based on the new BMC are modelled through Decision-Making Trial and Evaluation Laboratory Technique (DEMATEL). To sustain entrepreneurship of terracotta art in India, the proposed strategies include stakeholders to focus on reducing production costs, conducting training and development, promoting product innovation, and exploring direct marketing channels and new customer segments.
Keywords: business model canvas; BMC; terracotta pottery; Porter’s industry analysis; strategic entrepreneurship; DEMATEL; India.
High-performance work practices and labour productivity: the contingent effect of family governance
by Frank Mullins, Pankaj C. Patel, Esra Memili, Veland Ramadani
Abstract: The purpose of this study is to investigate the effect of the family governance context on the relationship between high performance work practices (HPWPs) and labour productivity. This study uses cross-sectional data from the 2011 Workplace Employment Relations Survey on 193 UK establishments. Our findings demonstrate that firms with family governance have a stronger, positive HPWPs-labour productivity relationship compared to other firms. Furthermore, firm size matters as the effect of family governance strengthens this relationship as firm size increases. This paper contributes to the research on the contextual factors that determine the effectiveness of HPWPs by highlighting the role of the family governance context including its boundary conditions on the basis of firm size.
Keywords: High performance work practices; Labour productivity; Family firms; Firm size; Corporate governance.
Digital Microfinance Crowdfunding for Disconnected Women Entrepreneurs in India
by Endrit Kromidha, Nidhi Yadav, P. Vigneswara Ilavarasan
Abstract: This paper advances the knowledge on digital microfinance crowdfunding for women entrepreneurship and development by comparing environment and project factors in India. The empirical evidence is based on projects enacted by 626 poor and digitally disconnected women borrowers listed in Rang De, Indias first digital social enterprise platform for crowdfunding and microfinance. The findings show that, even when the borrowers are digitally and socially disconnected from their funders, success is more a result of environmental factors than of project-specific characteristics. This differs from what is suggested by developed country crowdfunding research in regard to the importance of proximity and direct links between borrowers and investors. The importance and gender-specific role played by intermediaries in relation to digitally disconnected borrowers is also acknowledged, driving more attention to gender equality and to the digital divide for access to finance.
Keywords: microfinance; women entrepreneurs; developing countries; access to finance; entrepreneurship networking; digital inclusion; India.
Prioritising the determinants entrepreneurial firms in the sustainable supply chain networks using fuzzy TOPSIS approach
by Mahtab Sherafati, Mahdi Bashiri, Piyya Rafi-Ul-Shan, Vahid Jafari-Sadeghi
Abstract: Entrepreneurial ventures play as key pillars in the supply chain networks. Therefore, through decision-making approach, this study aims to prioritise entrepreneurial firms in the supply chain and to select the ones that perform properly in the network. In this regard, three main criteria are taken into account: Surrounding environmental, Entrepreneurial firm capabilities and Individual entrepreneurial capabilities and characteristics; including several sub-criteria for each. As for the methodology, a fuzzy TOPSIS approach is used to prioritise entrepreneurial firms, which considers the ideal solution with linguistic weights. As such, a sample of 141 Australian firms has been taken from the Global Entrepreneurship Monitor (GEM) database. Our findings confirm that the proposed method for prioritising the determinants entrepreneurial firms lead to designing a sustainable supply chain.
Keywords: Prioritising; Entrepreneurial firms; Sustainable supply chain; Fuzzy TOSIS approach.
An Empirical Evidence of Structural Change in Production Parameters of MSMEs under Economic Reforms in India
by Akhilesh K. Sharma, Sushil K. Rai
Abstract: The purpose of this paper is to analyse the impact of economic reforms on structural change in production function of Micro, Small and Medium Enterprises (MSMEs) in India. The paper examines the effect of economic rerorms on parameters of production of MSMEs located in the eastern region of Uttar Pradesh, a province in India. This study is based on the analysis of primary data collected from small firms located in the region. It has used neutral and non-neutral technical change constant elasticity of substitution production function for the analysis. The results indicate that the efficiency of the production process has increased and MSMEs have become more independent and capital intensively during economic reforms. Further, the result shows that the value of the elasticity of substitution between factors of production decreases in non-neutral technical change while it has increased in neutral technical change under reform process. Finally, the study reveals that the production function is reflecting a negative return to scale and downsizing is the natural repercussion of the reform process.
Keywords: Economic reforms; MSMEs; Structural change; CES production function; Cross section data.
A Study of Women Successors in Multigenerational Family Firms and the Development of their Leadership Roles
by Jim Cater, Marilyn Young, Harold Doty
Abstract: Although significant interest exists concerning women in family firms, a well-defined picture of rntheir involvement in leadership is lacking. We examine the development of the leadership roles of rnwomen in a qualitative study of 19 multigenerational family firms in the U. S., using a grounded rntheory approach and the theoretical lens of the resource-based view of the firm. In-depth interviews rnrevealed four steps of leadership development: Next Generation Managers, TMT Executives, rnMatriarchs, and Dominant CEOs. We summarise our findings with seven propositions and a model rnof the development of the leadership roles of women successors in multigenerational family firms.
Keywords: family firm; family business; succession; successors; qualitative; leadership; development; qualitative; case study approach.
The Theoretical Basis of Relevant E-Entrepreneurship Results: A Systematic Literature Review
by Dhia Qasim, Ashraf Bany-Mohammed, Francisco Liñán
Abstract: The e-entrepreneurship field is a relatively novel one, suffering from a lack of theories and models, as researchers are deriving theories from other disciplines, such as economics, psychology, etc. To consolidate as a discipline, e-entrepreneurship studies need a systematic classification of previous and current contributions that can support the development of theories and research. The purpose of this study is to run a systematic literature review (SLR) to categorise the theories and models found from a total of 105 e-entrepreneurship publications over the period from 2008 to September 2020. A citation analysis has also been performed to identify 25 influential works that may be seen as foundational milestones in this field. The results revealed some critical research gaps and the need to develop new theoretical frameworks able to combine and extend the classical models of innovation, entrepreneurship, and technology to specifically tackle the e-entrepreneurship field of research.
Keywords: E-Entrepreneurship; E-Commerce Entrepreneurship; Systematic Literature Review; Citation Analysis.
A Review of SMEs Clusters and the Need for Cluster Branding in India
by Manmeet Bhamra, Kaushal Kishore, Sanjay Pal
Abstract: Small and Medium Enterprises (SMEs) are considered to be one of the main driving forces of economic development in emerging markets. SMEs in India have gained importance in the recent past due to globalisation and the constantly changing business environment. SMEs contribute a lot in economic development as it creates employment opportunities and supports the government in achieving higher growth rates. Additionally, it also helps an economy to do better in international trade. It is evident from the literature that significant work has been done on cluster management globally but not much work is done in the context of clusters in India with a focus on SMEs. Considering the importance of branding in almost every sector, authors tried to analyse the work done on cluster branding in India on SMEs through extensive literature review. The study is an endeavour to investigate the need and process of cluster branding to make SMEs clusters more efficient in India and the emerging markets.
Keywords: Small & Medium Sized Enterprises (SMEs); Cluster Brand Management; Branding Strategies; SMEs Clusters in India; Competitive Advantage; SMEs post Covid-2019. Role of Government in promoting SMEs; Strategic Collaboration.
A Study on the Entrepreneurial Opportunities, Indian and Global Economy in 3D Printing Sector
by Piramanayagam Sethu Ramalingam
Abstract: The main aim of the research was to explore all the opportunities, economic aspects, and challenges faced by various 3D printing industries, entrepreneurs, and consumers. 3D printing is a revolutionary digital production technique in Industry 4.0 that can transform the manufacturing sector to a new dimension and thereby creating a lot of opportunities and paved the way for economic growth both in the global and Indian industries. Moreover, the possibilities and availabilities of the 3D printing business opportunities for the entrepreneurs were studied based on their domain-specific areas such as application, manufacturing, programming, design, and development. In recent decades, most of the industries have focused on 3D printing technologies as it has arbitrary potential in all the sectors, single universal machine for producing intricate shapes and having online remote access. The present study also considered quick prototyping, fast manufacturing, along with the current novel methodologies in fabricating 3D elements. The advancements in 3D printing technology for various other industries like electrical industries in inventing receptors, circuit boards, etc. were deliberated. Thus the outcome of this specific study could be used to identify the entrepreneur company models in 3D printing and its business version by considering economic growth.
Keywords: 3D Printing;Entrepreneurship; Global and Indian Economy; Additive Manufacturing.
Cultural values and innovation in indigenous entrepreneurship: a case study from Indonesia
by Fikri Zul Fahmi, Nabilla Dina Adharina
Abstract: This study aims to identify the mechanisms through which cultural values affect innovation in indigenous entrepreneurship, particularly in Indonesia, situated in the Global South. We examine two cases of long-established hand weaving activities in Lombok, using qualitative research methods. Our findings show that cultural values reflecting high levels of integration among actors, commonly found in homogenous societies, act as social capital in promoting innovation by facilitating the transfer of new knowledge and encouraging collective learning among the economic actors. However, the entrepreneurs past time orientation and their embeddedness as evident in values such as preserving tradition and respecting collective existence restrains their ability to embrace change. We identify that their lack of future orientation prevents innovation through opening up new markets. However, this outlook encourages them to respond to current market trends.
Keywords: innovation; cultural value; indigenous entrepreneurship; Global South; Indonesia.
Role of entrepreneurship in social enterprises and master weaver enterprises: case of handloom weaving industry, India
by Manas Ranjan Bhowmik, Rajendra Narayan Paramanik
Abstract: Purpose of this article is to analyse the interface between institutions and entrepreneurship for small businesses within the informal manufacturing sector i.e., handloom weaving industry in India. Also comparing efficiency in different institutional settings within the same industry is another purpose. Through a primary survey data have been collected and a Data Envelopment Analysis has been applied in order to compare efficiency of different institutions within handloom weaving sector. From the theoretical and empirical analyses, it has been observed that weavers working under the master weaver institution is more efficient than weavers working under the cooperative institution. Entrepreneurial dynamism is a determining factor in explaining higher efficiency of master weaver institution in comparison to cooperatives.
Keywords: Informal Economy; Entrepreneurship; Handloom weaving; DEA; Efficiency; India; Cooperatives.
Providing conditions for the development of small business in the Russian agroindustry
by Gulnara Nigmatullina, Olga Shilkina, Elina Kipchakbaeva, Oksana Frolova, Guzel Salimova
Abstract: The paper considers the mechanism of state support for small agricultural businesses and its impact on the efficiency of agricultural production in different categories of farms, budget efficiency, the need and prospects for directing budget funds for the development of small businesses in agriculture. Farms are divided into groups depending on the marginal revenue. The efficiency of allocating budget funds of the consolidated budget is calculated. The paper describes an original approach to providing conditions for the long-term development of small businesses in agriculture. Small business development in agriculture must take into account not only the scale of production but the industry specifics as well that depends much on climatic conditions and soil fertility. These factors are of particular relevance for state support considerations and economic performance. The manuscript presents an analysis of subsidizing small businesses in the Russian Federation. The slowdown in economic growth requires additional funds into small agricultural enterprises having obvious prospects for development. The paper contributes much to further research on emerging markets. It can be valuable for players in the agricultural sector being subject to subsidy provision from the state.
Keywords: agribusiness; budget efficiency; cost-efficiency of agricultural production; state support for agriculture.
The Technological Incubators Program as a growth generator of peripheral areas in Israel
by Gil Cohen, Limor Yehuda, Sagit Barel-Shaked, Labib Shami, Arie Herscovici, Osnat Akirav
Abstract: In this research we examine the peripheral technological incubators program in Israel. Our aim is to learn what are the required structural and supporting conditions that may result in a substantial social economic environmental change of peripheral areas. Moreover, the existing literature examines different challenges that peripheral incubators face; nevertheless, they do not offer a holistic model that integrates those factors that will maximize the chances of a newly born technological venture to survive at early stages and thrive in later stages of its development. We used the value chain concept to frame such a model, arguing that the technological incubator must support and facilitate technological companies' path through the different stages of their evolutions to ensure their sustainability and maturity in the peripheral area. We interviewed CEOs of peripheral incubators, and used the peripheral town of Katzrin as a case study, in order to study the synergy and dependencies between the incubator and the region. We found that the main challenge of a peripheral incubator is to build an ecosystem that can support the newly born ventures during their development in the incubator and after they leave the incubator. That can be achieved by depending on local strategic partners to serve as mentors to the newly born companies, and by providing an access to scientific facilities in universities or hospitals.
Keywords: Technological Incubators; Periphery; Regional; Accelerators.
The role of educational institutions in combating educational unemployment and developing future entrepreneurs: Insights from Indian experts
by Jitendra Kumar Dixit, Dianne Welsh, Sucheta Agarwal, Veland Ramadani, Vivek Agrawal
Abstract: Industries across the globe are reporting a lack of skills among fresh graduates. When educated degree holders do not qualify for job opportunities, educated unemployment occurs. This study draws on the analytic hierarchy process (AHP) and technique for order of preference by similarity to ideal solution (TOPSIS) methods to identify and rank factors contributing to the role of educational institutions in driving educated unemployment. The findings indicate a misfit in the implementation and execution of academic programs by educational institutions, thus uncovering a need for a strategic blueprint.
Keywords: entrepreneurs; educational institutions; educated unemployment; entrepreneurial intentions; India.
What are the characteristics of a survivor? Evidence from bankruptcy analysis of newly formed Japanese SMEs
by Hong Xu
Abstract: We analyze the bankruptcy of newly created Japanese small and medium-sized entities (SMEs) from 2003 to 2011 by comparing various features with newly formed but surviving companies during the same period. First, we root our study in Penroses resource-based firm theory and Barneys sustained competitive advantage framework and follow prior SME research results (mainly Storeys small business) to identify the features of bankrupted SMEs in Japan. Then, we use t-tests and logit regression to verify the validity of these identified features. Finally, we use the verified features to build prediction models using machine learning techniques and test the prediction effects.
Keywords: small and medium-sized entities; SME; bankruptcy; newly formed firms; resource-based view theory; RBV; sustained competitive advantage framework; entrepreneur experience; machine learning; Japan.
The Impact of Social Media Use on Firm Performance: A Study of Egyptian Micro, Small and Medium Enterprises (MSMEs)
by Hadia FakhrElDin, Ahmed Ayman, Rania Miniesy
Abstract: Even though numerous studies have examined the effect of information technology on business operations, a few have addressed the effect caused by social media on micro, small and medium enterprises (MSMEs). This research attempts to fill this gap by focusing on the impact of social media use on the performance of MSMEs in Egypt, an emerging market in the Middle East, by adopting the technology acceptance model (TAM) and the task technology fit (TTF) framework. Data is collected through self-assessment questionnaires conducted with a sample of 383 MSMEs in Cairo. The structural equation modelling technique is employed to analyse the data collected. The findings suggest that social media is crucial to the development of MSMEs due to its positive effect on their performance. This suggests that the ecosystem in countries like Egypt should be supportive of all measures that enhance the effective use of social media by small firms.
Keywords: firm performance; micro; small and medium enterprises; MSMEs; social media; emerging market; technology acceptance model; TAM; task technology fit framework; task technology fit; TTF.
Multi-layered Entrepreneurship: Perspectives of Women Candidates for Mayor
by Osnat Akirav, Arie Herscovici, Limor Yehuda, Sagit Barel-Shaked, Labib Shami, Gil Cohen
Abstract: In the last two decades the number of women involved in politics locally and nationally has increased worldwide. In addition, researchers have begun to incorporate a gender perspective into all public policies so that they counter gender bias and produce gender equality in politics and society. In accordance with this new approach, we combined three research fields--womens entrepreneurship, their political ambition and gender mainstreaming. We argue that the mutual effect the research fields have creates a new way to define and operationalize entrepreneurship, which we call multi-layered entrepreneurship. To test our model, we conducted in-depth interviews with women candidates for mayor in various peripheral areas in Israel. We found that women define entrepreneurship in a more comprehensive and inclusive manner than men. While they have political ambition, their motives for entering politics differ somewhat from those of men. Finally, the effect of their political ambition on gender mainstreaming strengthens the need for a gender perspective in all public policies.
Keywords: Multi-layered entrepreneurship; women’s entrepreneurship; women political ambition; local government; gender mainstreaming; Galilee and South peripheries.
Profitability and market analysis of the piggery industry in the Prestea/Huni-valley municipality of Western Region, Ghana.
by Samuel Afotey Anang, Anthony Anning
Abstract: The study aimed at determining the profitability and market analysis of the piggery industry in the Prestea/Huni-valley municipality of Western Region, Ghana. Using purposive and snowball sampling methods, the study engaged 20 pig farmers and 130 pork consumers in the study area. Descriptive statistics and multiple regression analysis were employed to analyze the data. The study revealed that the piggery industry, which is highly dominated by male and small-scale farmers, is mostly undertaken by pensioners on full time basis. The industry was found to be profitable with 44% Gross Margin and Profitability Index of 1.05, but the industry is stifled with challenges such as feeding cost and availability of labour. Access to market was found not to be a challenge but farmers are to diversify their products, improve upon feeding and sanitation. Again, efforts by corporate bodies and government to subsidize input costs will make the industry more lucrative to create more jobs.
Keywords: Ghana; piggery; multiple regression; gross margin; breakeven analysis; profitability.
Corporate social responsibility, entrepreneurial motivation and integrative quality of life among Ghanaian small business owners
by Fanny Quagrainie, Murat Erogul, Alex Adom
Abstract: The study develops a model to examine the moderating influence of entrepreneurial motivation on the relationships between CSR initiatives and integrated quality of life. Employing a case study approach with mixed-method techniques, data is collected using questionnaires and interviews. Small business owners (SBO) engage in CSR initiatives but rejects the use of corporate to refer to such activities. The measurement model was a good fit for CSR initiatives, subjective and existential quality of life, while that of objective quality of life was rejected by the study. SBO should be considered by policy-makers when designing and developing interventions that concentrate on enhancing quality of life. The study operationalizes the extent and form of quality of life using CSR initiative and demonstrates how both entrepreneurial pull and push motivations interact to determine the effects on quality of life.
Keywords: small business owners; social capital; integrated quality of life; entrepreneurial motivation; Ghana.
Entrepreneurship and Economic Growth: Evidence from the 50 U.S. States
by Gibson Nene, Ariuna Taivan, Zheenhzheng Gao, Qianyu Zhang
Abstract: This paper examines the link between economic growth and entrepreneurship for each of the 50 U.S. states for the period 1988 to 2014. Results showed that entrepreneurship caused economic growth in 23 of the 50 U.S. states. Our findings also showed evidence of bi-directional causality in 13 states and that economic growth caused entrepreneurship in 7 states. In addition, the absence of a causal relationship between growth and entrepreneurship was recorded for 7 states. The existence of a relationship between entrepreneurship and economic growth is confirmed in 43 of the 50 U.S. states. Entrepreneurial activity is found to be an important driver of economic performance in 36 of the 50 U.S. states as shown by the entrepreneurship causing growth and bi-directional causality results. The findings also support the argument that the link between entrepreneurship and economic growth may vary within the same country. However, we do not find evidence that entrepreneurship only drives economic growth in wealthy states and not in poor states. Policy makers should invest more in programs tailored to attract and maintain entrepreneurial activity in their states to realise greater economic performance.
Keywords: U.S. states; Causality; Entrepreneurship; Economic growth.
Exploring Entrepreneurial Opportunity Recognition in Tourism: A Study of Cameroon
by Roland Atembe
Abstract: Although opportunity recognition is an important element of entrepreneurship, the research on patterns and factors influencing entrepreneurial opportunity recognition within the tourism sector remains scarce. Using a qualitative approach and narrative face-to-face interviews with tourism entrepreneurs in Cameroon, this study explores the factors that inspire the creation of tourism-related ventures. Due to the countrys high level of entrepreneurship, Cameroon was an ideal context for exploring opportunity recognition patterns. Also, Cameroons specific cultural aspects often cause its collectivist specificities to affect entrepreneurial intention even more than economic variables. The interviews in this study were captured and analysed using an inductive approach. Their results show that ethnic values, prior knowledge and experiences, experimental observations, socialisation and interaction, and social lifestyle are drivers of tourism entrepreneurial opportunity recognition. Other motivations including entrepreneurial intention and cultural and social transitions significantly contribute to tourism entrepreneurship. The paper proposes a framework aimed at enhancing a holistic understanding of opportunity recognition. It also generates new insights relevant for creating and operating ventures with high growth potential. The study furthermore provides implications for policy building and the development of a strategic framework for entrepreneurship development.
Keywords: Entrepreneurial Opportunity; Tourism Entrepreneurship; Opportunity Recognition; New Venture creation; Cameroon; Tourism Enterprise.
Female Immigrant Entrepreneurship: A Contextual Approach
by Imran Sarihasan, Ádám Novotny, Natanya Meyer, Domicián Máté
Abstract: This study examines the relationship between female entrepreneurship, immigrant entrepreneurship, and the entrepreneurial context. The primary objective is to investigate the extent to which the host countrys entrepreneurial context accounts for differences in the start-up rates of immigrant entrepreneurs. The lack of research on immigrant entrepreneurship makes it challenging to capture changes in this phenomenon. A quantitative approach using Global Entrepreneurship Monitor data was adopted to determine the relationship between womens/mens entrepreneurship parity ratios and the degree of immigrant entrepreneurship in different countries. Linear regression (OLS)models showed that differences in female/male entrepreneurship indicators (fear of failure and early-stage entrepreneurship activity) significantly impacted the proportion of immigrant entrepreneurs in different countries. The findings suggest that immigrant women can considerably increase the proportion of new businesses in countries where women are more entrepreneurial. However, these new firms are more likely to be driven by necessity as opposed to opportunity.
Keywords: entrepreneurial context; immigrant entrepreneurship; cross-country perspective; female entrepreneurship; Global Entrepreneurship Monitor; GEM.
AN ASSESSMENT OF ENTREPRENEURIAL MOTIVATION AND ROLE OF ENTREPRENEURSHIP EDUCATION: A CASE OF UNIVERSITY STUDENTS IN JAIPUR CITY
by Anil Mehta, Smita Sharma, Sona Sen
Abstract: There has been a tremendous emphasis on inclusion of entrepreneurship education at the University level to encourage a strong start up culture among youth. Entrepreneurs have well been known to trigger the economic growth of a nation. However certain other factors are also responsible to enhance the spirit of entrepreneurship among university students. The study will examine whether the present system of education is an asset to the development of entrepreneurship among students and if it contributes to promoting entrepreneurial motivation among them. The correlation values depict that there was a weak negative correlation between entrepreneurial core and work core (-0.323) and between social core and entrepreneurial core (-0.296). There also exist a negative medium correlation between social core and individual core (-0.447) and between social core and economic core (-0.500). A medium positive correlation was found between individual core and economic core (.517).The factor analysis suggests that the motivation to turn into an entrepreneur arises from the work core and economic core and to some extent from the social core. The study of entrepreneurship also proves to be an asset to motivating the students towards entrepreneurship. Higher education institutes should therefore channelize their efforts to motivate students towards entrepreneurship and simultaneously also enhance their skills.
Keywords: Entrepreneurship; motivators; entrepreneurship education; university students; Jaipur.
Family Business Trans-generational Succession in Extreme Contexts: A Socio-Emotional Wealth Perspective
by Grace Khoury, Niveen Eid, Elena Noor Khoury
Abstract: This paper contributes to the family business literature by exploring the link between trans-generational succession and Socio Emotional Wealth (SEW) from an institutional perspective. It examines the neglected role of the macro environment in the formation of SEW. A single case study of a family firm is investigated. The firm has successfully experienced trans-generational succession in Palestine, an extreme context that is underrepresented in the current literature. Findings are drawn based on the utilisation of an exploratory inductive research approach. Results reveal that having an opportunistic entrepreneurship style is a driving force in exploiting the macro environmental challenges which exist where family firms operate. Along with adopting micro mechanisms at an organisational level, a collective nature of SEW characterised by strong family identification was formed. The paper concludes by presenting a fresh perspective of constructive trans-generational succession of family firms operating in volatile environments and exhibiting resilience to uncontrollable challenges.
Keywords: Socio Emotional Wealth (SEW); trans-generational succession; family business; extreme context; Palestine.
Environmental sustainability and circular economy in SMEs: A qualitative approach from the Spanish experience
by Francisco Villegas Pinuer, Joan Llonch Andreu, Pilar López Belbeze
Abstract: The need for companies to define sustainability-based strategies has gained more relevance in modern society. In lieu, this study examines environmental sustainability (ES), the implementation of circular economy (CE) practices, and their conceptual relationship with SME managers. The methodology employed is in-depth interviews applied to SME managers of Catalonia (Spain), a prominent business area in Europe. This study reveals the slow incorporation of ES in SMEs through CE tools such as recycle, recovery, and reuse in the final stages of their production process. The knowledge about CE tools and their potential, the low pressure from customers regarding environmental issues, and the lack of communication and incentives to adopt ES norms can explain this behaviour. The development of environmental public policies for SMEs and an ecosystem that allows the exchange of resources and collaboration help decrease these companies overall resource use.
Keywords: environmental sustainability; circular economy; competitiveness; small and medium enterprises; SMEs.
Farmers' typology in an environment of policy reform
by Sagit Barel-Shaked, Labib Shami, Arie Herscovici, Osnat Akirav, Gil Cohen, Limor Yehuda
Abstract: Agricultural policy reforms and the changing regulatory environment have pushed farmers towards adopting different strategies in accordance with their characteristics, perceptions, capabilities, and skills. This study explores Israeli egg farmers' strategies in an environment of an emerging policy reform, which threatens their economic viability and sustainability. An innovative theoretical framework consisting of farmers' typology is constructed, and an analysis of farmers' conceptualizations in a changing environment of policy reform is established. The study results suggest three contrasting identities of farmers; Farmer as farmer, motivated by noneconomic goals, due to the psychological attachment to his farm and land, ideology, and conservative perception; Farmer as guest, employing a passive approach and maintaining a short-term perspective; Farmer as entrepreneur, adopting an active approach of opportunity recognition and exploiting potential for growth. As arises from the study results, farmers are heterogenous and adopt different strategies to manage in a dynamic environment. Policymakers should acknowledge this research suggestive theoretical framework, when designing an agricultural policy reform.
Keywords: policy reform; agriculture; Galilee periphery; farmers' typology; entrepreneurship.
The circular, step by step - three core domains, social entrepreneurship model
by Limor Yehuda, Sagit Barel-Shaked, Labib Shami, Gil Chohen, Osnat Akirav, Arie Herscovici
Abstract: Studies in the field of social entrepreneurship introduce and discuss entrepreneurial behaviours and actions, in order to contribute to social entrepreneurs in running their venture, and in achieving the aspired social value. However, the core domains that entrepreneurial behaviours and activities actually address, which are supposed to be at the base of the establishment and operation of social enterprises, are neither discussed nor presented in the literature. The current study aimed to reveal these core domains, and by that, to formulate a working model, which is relevant to any social enterprise, by conducting a case study based on a social enterprise called The New Guardian Organization. This is third sector organization, which has been operating in Israel over the past 13 years, in order to reduce agricultural crime. In order to conduct the case study and reveal fundamental core domains which are at its base, in-depth interviews were conducted with four main leading figures in the organization; additionally, three more central figures in the organization were interviewed. In addition, media articles, a Knesset report, police annual reports and the organizations surveys regarding agricultural crime and the organization's activity were analyzed. The study's findings yielded a circular, multi-step - three-core domain social entrepreneurial model, relating to the establishment and operation of a social enterprise. The model demonstrates the central role of the human, the material, and the operation method domains in the process of establishment and operation of social enterprise, and also the interaction between these domains, which repeats itself in almost every step of the model.
Keywords: Social entrepreneurship working model; social enterprise establishment; social enterprise operation; core domains in entrepreneurship; crime reduction; third sector organizations; social entrepreneurs; behaviour characteristics of social entrepreneurs.
Informal Self-Employment Within the Non-Observed Economy of Israel
by Labib Shami, Gil Cohen, Osnat Akirav, Arie Herscovici, Limor Yehuda, Shagit Barel-Shaked
Abstract: This study estimates the size of the non-observed economy, and the share within it that stems from informal economic activity among the self-employed, using a modified currency demand approach adapted to the Israeli economy. By assessing the demand for currency arising from the economic activity of the self-employed, the extent of informal self-employment is estimated as a percentage of GDP. According to the model, the share of the non-observed economy and informal economic activity among the self-employed has been characterized by a downward trend over the last decade. In 2019, the informal economic activity among the self-employed reached nearly NIS 102 billion, 65% of the size of the non-observed economy. The rest stems from illegal activity, which accounts for about NIS 55 billion.
Keywords: Informal Economy; Demand for Money; Tax Evasion; Informal Labour Markets; Illegal Behavior.
Contextualising Innovative Firms Foresightedness in a VUCA world
by Niharika Jaiswal, Manoj Joshi, Ashok Kumar
Abstract: Recently, there has been renewed interest in understanding factors and contexts that influence innovative firms. However, mechanisms and boundary conditions are yet to be understood. Accordingly, we contend that foresightedness and readiness are important factors that help start-ups shape up into innovative firms in the context of the VUCA world. We empirically validated our propositions using data from both primary and secondary sources utilising the inductive method for analysis. Results show that both foresightedness and readiness shape innovation in the VUCA world. These findings contribute to a better understanding of factors that shape innovation. This study should, therefore, be of value to practitioners wishing to help entrepreneurs to survive and grow in the context of the VUCA world.
Keywords: start-ups; entrepreneurial firms; innovative firms; foresightedness; VUCA; redBus.
Internationalisation of SMEs: A comparative perspective between Africa and Latin America
by António Moreira, Cláudia Ribau, Marta Borges
Abstract: This paper explores the internationalisation of small and medium-sized firms (SMEs) in Africa and Latin America. A total of 97 papers covering the period between 1995 and 2017 were analysed, providing a unique comparative perspective of the internationalisation of SMEs. The analysis of the papers revealed the following six main topics: international networking; financing, export promotion; internationalisation strategies; resources and business environment/context; e-business, e-commerce; and barriers to internationalisation. The topic internationalisation strategies is the most researched topic both regarding the internationalisation of both African and Latin American SMEs. However, while the studies on Latin American SMEs focus on rapid internationalisation, international entrepreneurship orientation and export performance, the studies on African SMEs focus on supply performance, international behaviour, internationalisation process, knowledge and key-selection of foreign markets. This provides a clear perspective on how SMEs of those two emerging continents deal with the intricacies of internationalisation.
Keywords: SME; Internationalization; SMEs; Small firms; Literature review; Africa; Latin America.
Business networks, social media and SMEs export propensity
by George Saridakis, Bochra Idris, Jared M. Hansen
Abstract: Business networks can result in important benefits for entrepreneurs. Yet, differentiating the benefits of traditional business networks, social media business networks, and their joint usage on the internationalisation of entrepreneurial ventures is less understood. We empirically examine the different effects using 11,717 telephone interviews of SME owners/entrepreneurs in England and Wales from the UK Small Business Survey. Our results show that while both traditional business networks and social media business networks are each associated with increased SMEs exporting likelihood over the group that does not participate in any business networks, the group of SMEs who use both types of networks simultaneously has an even great probability of exporting. Also, when differentiating between companies according to their size, the results in the micro and small companies sub-samples show that traditional business networks have weaker effect on the probability of exporting but engaging in both types of networks has a much stronger effect on it.
Keywords: SMEs; traditional business network; social media business network; internationalisation; export propensity; micro business; resource based view (RBV).
Understanding Social Enterprise Performance A Business Model Approach
by Giorgi Jamburia, Jean-Marie Courrent
Abstract: This paper aims to provide a better understanding of the performance of social enterprises within a sustainability approach. The conceptual model proposes that the major aspect of sustainability lies in the implementation of business models that create a balance between social and economic value creation. The hypotheses were tested on a sample of 115 Swedish work integration social enterprises (WISEs), and an analysis of the results suggests that social imprinting and partner network strength are positively related to social performance, whereas social bricolage has a positive effect on both social and economic performance. The social and economic performance of social enterprises are also positively associated with each other, suggesting the possibility that WISEs can be simultaneously successful in both dimensions.
Keywords: social entrepreneurship; social enterprises; social enterprise performance; social performance; economic performance; business models; partner network; social imprinting; social bricolage; work integration social enterprises; Sweden.
A Model for Understanding Industry Cluster Development among New World Wineries
by Svan Lembke, Lee Cartier, Joanna Fountain, Nicholas Cradock-Henry, Leo-Paul Dana
Abstract: This paper proposes a cluster management model that is grounded in Porters diamond framework and cluster thinking. This exploratory research examines secondary sources to understand the presence and development of clusters in two New World wine regions over two time periods (20002008 and 20092014). Whilst different in development trajectories and focus, and impacted by very different legislative frameworks, both wine regions displayed high quality strategic alignment during their inception stage but this deteriorated over time. The authors suggest that if the emerging lack of strategic alignment had been identified early, addressing it may have limited or halted the deterioration. This research introduces a pragmatic tool for industry assessment of cluster strength and decision making that is easy to use for regional development practitioners. Such an applied tool is valuable in agricultural clusters where challenges posed by climate change, the globalisation of markets, or the massive disruption caused by a global pandemic requires increasingly rapid cluster adaptation.
Keywords: wine industry; cluster development; competition and cooperation; industry strategy; rural communities.
Does Innovation Lead to Firm Growth through Endogenous Marketing Expenditure for SMEs in Ho Chi Minh City (Vietnam)?
by Ngo Giang Thy, Linh Duong, Huynh Dang Khoa, Tu Van Binh
Abstract: This paper investigates how Vietnamese SMEs innovation relates to its performance through impacts of endogenous covariates, such as marketing expenditure. The paper employed extended regression models. Data used is based on the Vietnam General Statistics Office survey conducted in 2017, in which 645 SMEs at Ho Chi Minh City are extracted to estimate. Very interesting findings show that positive changes in the innovation of SMEs cause an increase in sales growth and labour cost growth, but it is contributed by marketing expenditure rate as endogeneity. The companies, which are old, limited liability and private enterprises, invest more in marketing expenditure toward increasing sales growth with good control of the labour cost growth. This is a message to SMEs in Vietnam to think of innovation programmes based on marketing activity contribution, doing that the SME could obtain competitive advantages toward achievements.
Keywords: firm performance; innovation; marketing; SMEs.
Social capital in a digital age: A focus on bridging and bonding social capital of women entrepreneurs in South Africa
by Boris Urban
Abstract: Despite increasing interest in women entrepreneurship, not many investigations explain the impact of new digital technologies on networking in African countries, where women face obstacles in terms of entrepreneurial networks, as well restricted access to finance. Consequently this article examines bridging and bonding social capital from a perspective of women entrepreneurship in terms of accessing financial capital from crowdfunding. The study takes place in South Africa, where data is collected via a survey from a sample of women entrepreneurs using crowdfunding platforms. Study measures are subject to psychometric testing and the hypotheses are tested using multiple regression analyses. Crowdfunding platforms were found to be positively and significantly related to both bonding and bridging social capital, but these factors were not significantly related to financial capital. The article represents a novel empirical investigation into associations between digital entrepreneurship, women entrepreneurship and social capital in an African market context.
Keywords: women entrepreneurship; crowdfunding; social capital; bonding and bridging social capital; networking; South Africa.
Rice production technical efficiency in a highly urbanised area in Samut Prakan Province, Thailand
by Naruebet Meelua, Suneeporn Suwanmaneepong
Abstract: This study investigates rice farmers technical efficiency in a highly urbanised area in Samut Prakan Province, Thailand. The study used a two-stage Data Envelopment Analysis (DEA) in measuring farmers level of Technical Efficiency (TE), while a Tobit regression was employed to assess the factors affecting TE. The results revealed that rice farmers TE levels ranged from 0.53-1.00, with an overall mean value of 0.84, indicating a considerable potential in enhancing TE to improve rice production. Moreover, the study found cultivated area, education level, and rice farming experience significantly affected production efficiency; whereas the significant association of the land area to the production efficiency suggests the need for government to be cautious about converting land areas for non-agricultural activities brought by urbanisation growth. Lastly, the study suggests improving TE levels through more substantial policy support and programmes targeting the strengthening of rice farmers technical knowledge
Keywords: technical efficiency; rice production; data envelopment analysis; Tobit regression; urban.
Effectual behaviour and frugal innovations: Learning from women cocoa farmers in South West Cameroon
by Sophie Boutillier, Syndhia Mathé, Maria Geitzenauer
Abstract: Womens entrepreneurship is on the rise in Africa although the obstacles they face in setting up new businesses and in running these businesses are significantly higher than those faced by men. Women usually decide to become entrepreneurs out of an economic necessity, and at the same time, out of a lack of other options. But academic literature on women entrepreneurs also states that some specific qualities of women are very crucial for their success as entrepreneurs despite their significantly harsher circumstances. In order to understand women entrepreneurship strategies, this article presents the study of women entrepreneurs in a male-dominated cash crop industry, in cocoa production in Cameroon. The results demonstrate that women, despite all the additional obstacles they face, adopt effectual behaviour to develop solutions adapted to their respective situations, through frugal innovations. Our results demonstrate that womens innovative capacities reduce the risks of the negative effects of shocks and disasters on their households. The highlights of the study are as follows: 1) women are significantly disadvantaged regarding their access to resources; 2) innovations by women entrepreneurs are driven by effectual behaviour; 3) effectual behaviour drives the development of various frugal innovations.
Keywords: women’s entrepreneurship; cocoa; Cameroon; frugal innovation; effectuation.
Artisan Entrepreneurship through Social Media Campaigns: A Review
by Sriparna Guha, Anirban Mandal, Fedric Kujur, Sandeep Poddar
Abstract: This article focuses on the research conducted on the uses of social media marketing in promoting the handicraft products. An overview is given on the main themes of craft enterprise in terms of the selling of products through social media. This helps to develop a fresh and emerging market area for artisan entrepreneurship. A range of online databases were searched to provide a comprehensive listing of journal articles on social media marketing and its execution in promoting handicraft products. Therefore, the aim of this literature review is to gather a broader overview of the field of "social media marketing, handicraft items and artisan entrepreneurship," and to explore how these topics are related together after concentrating on each area. The results are important to the theory and have valuable and direct impacts on social media marketing. This paper offers recommendations for future research on artisanal entrepreneurship.
Keywords: Social Media Marketing; Handicraft products; Artisan; Entrepreneurship; Literature Review.
Women in Social Housing and the Pursuit of Entrepreneurship
by Sundas Hussain, Adah-Kole Emmanuel Onjewu, Charlotte Carey, Vahid Jafari-Sadeghi
Abstract: Womens engagement in entrepreneurship from a social housing perspective has scarcely been explored in the literature. Thus, insights into how the social housing system may condition participation in entrepreneurship have been excluded from empirical understanding. In order to address this gap, we assess the entrepreneurial intention of women in a deprived area of one of the UKs largest cities. Through an inductive analysis, we develop a conceptual model in which attitude towards entrepreneurship, self-efficacy and subjective norms emerge as mediators of entrepreneurial intention. Our findings pose theoretical implications for future variance-based analyses, as well as practical implications for social housing providers and the role of public institutions in fostering entrepreneurial outcomes.
Keywords: Women; Social Housing; Entrepreneurial Intention; Attitudes; Theory of Planned Behaviour.
Internationalisation and Growth of Small Sustainable Fashion Enterprises
by Diala Kabbara, Enliang Qin, Hajer Jarrar, Charbel Salloum
Abstract: Sustainability and globalisation are two major global phenomena that have shaped the world in the last few decades. This paper aims to explore the main drivers that trigger the international behaviour of small sustainable fashion enterprises (SSFEs), with a special focus on the characteristics of sustainable entrepreneurs, the characteristics of sustainable firms, the inter-firm global collaborations, and the institutional context. We draw on international and sustainable entrepreneurship research to explain what captures the drivers that affect SSFEs internationalisation. This paper analyses four different Dutch SSFEs through a cross-case study method. The findings show that the main drivers that affect the international growth of SSFEs in the Netherlands are the global partnerships with suppliers and local sales agents in foreign countries, the sustainable attitude and previous fashion experience of the entrepreneur and the product ethical features.
Keywords: internationalisation; sustainability; SMEs; fashion industry.
Entrepreneurship and poverty in developed countries: a systematic review, synthesis, and future research directions
by Clara Douaihy, Karim Messeghem, Walid Nakara, David Audretsch
Abstract: Despite the important role of entrepreneurship in alleviating poverty in developing countries, scholars have devoted less attention to exploring entrepreneurship and poverty in developed countries. Therefore, our understanding of entrepreneurship and poverty alleviation remains limited even though poverty in developed countries was increasing long before the COVID-19 pandemic. This systematic literature review aims to provide a foundational understanding of this phenomenon by evaluating research papers on entrepreneurship and poverty in developed countries. The authors identify 51 studies in developed countries from 1990 to 2020 that link poverty to entrepreneurship. These studies are classified based on four dimensions: entrepreneurial antecedents, activities, contexts, and outcomes. This paper develops new insights and highlights several promising future research opportunities. It also proposes theoretical approaches to advance the entrepreneurship and poverty literature by utilizing and extending theories such as opportunity theory and bricolage theory.
Keywords: Entrepreneurship; poverty; poverty alleviation; poor entrepreneurs; developed countries; literature review.
Entrepreneurial Environment in Bhutan: A Study from the Perspective of Bhutanese Entrepreneurs
by Dawa Drakpa, Elangbam Haridev Singh, Karma Yangchen
Abstract: The purpose of this study is to investigate the perceptual difference of entrepreneurs towards the entrepreneurial environment in Bhutan. Seven factors are identified on basis of the framework developed by Gnyawali and Fogel and 114 entrepreneurs perception of these factors is measured with the help of a primary survey conducted on entrepreneurs in Bhutan. Results revealed that the financial assistance and government policies and procedures were rated as poor entrepreneurial environments. In a comparative study, import policies were more favorable for agro and forest-based sectors. Females perceived less family and social support when choosing entrepreneurship as a career.
Keywords: Entrepreneur; Entrepreneurship; Perception; Entrepreneurial environment; Bhutan.
Small and Medium Enterprise and Covid-19: A Bibliometric Analysis
by Ahmad Rafiki, Miftahuddin Miftahuddin, Atika Rizki
Abstract: This paper aimed to review existing literature on the SMEs and Covid-19. 90 articles are retrieved from the Scopus database for the period of 2020 and 2021 which then analyzed using bibliometric techniques. This study finds that English is the dominant language, business, management and accounting are the dominant subject area, 2021 is the dominant publication year, Indonesia is the dominant country, Sustainability is the dominant journal and Journal Of Open Innovation Technology Market and Complexity is the dominant citation based on journal, 10 authors have equally published 2 articles with Lu, L., Lu, Y. and Peng, J. are the most cited authors, and both Universidad Popular Aut
Keywords: Covid-19; SMEs; Bibliometric Analysis.
Artisan Entrepreneurship: A systematic literature review of this emerging field of research and new trends
by Alex Rodrigues, Carla Susana Da Encarnação Marquess, Gina Santos
Abstract: This study provides an overview of the past, present, and future of research in the Artisan Entrepreneurship field. We have carried out a systematic review of the literature by combining different bibliometric techniques applied to data from a search of the following keywords entrepreneur* (article titles) AND *craft* OR artisan* (topics), in the Web of Science (WoS) and Scopus databases. Our findings indicate that the extant literature on this topic falls into two clusters: (i) entrepreneurship ecosystem, culture, and the artisan and (ii) models, theories and conceptual visions. We present the most relevant contributions and a future research agenda for each cluster to address the gaps in the field. This study will enable future researchers to focus their efforts on the poorly addressed shortcomings in the literature.
Keywords: Artisan; Craft; Artisan Entrepreneurship; Systematic Literature Review; Bibliometrics.
Motivation, self-selection and effects of the business advice programme in Slovakia
by Vladimir Baláž, Tomáš Jeck, Miroslav Balog
Abstract: This research analyses the effects of the Slovak business advisory scheme upon firm performance. We examined the effects of the scheme upon the business performance of some 900 firms in four different samples. Our research has some novel elements. Data on economic effects rely on the annual accounts of companies, rather than on surveys. We paid attention to self-selection of applicants and constructed counterfactual samples for both supported and unsupported applicants. Firms supported by the business advice performed significantly better than did those in the control samples. The effect, however, disappeared once self-selection of the scheme was taken into account. Evidence from the participant survey indicated significant non-monetary benefits of the scheme, e.g., the acquisition of analytical and managerial skills. Self-selection may help to identify a pool of highly motivated firms. The next phase of the scheme may target these firms with more tailored and higher-intensity support.
Keywords: small and medium enterprises; business advice; motivation; self-selection.
Entrepreneurial responses to COVID-19 farmers market closures the experiences of rural micro vendors using social media.
by Katherine Attree, Clifford Lewis
Abstract: This research explored the barriers and enablers of social media usage by farmers market vendors in response to COVID-19 closures. Farmers markets present a low cost, low-risk retail outlet and economic safety net for rural micro-business vendors who may be too small to sell elsewhere. These markets also act as entrepreneurial incubators allowing vendors to trial new products, gain feedback directly from customers and to develop their marketing, pricing, and general business acumen. Micro-businesses such as farmers market vendors can contribute positively to rural and regional development via impact on job creation, growth, and regional well-being. Consequently, the farmers market closures during the COVID-19 pandemic presented a significant challenge to vendors who were unable to use this traditional distribution channel to generate income and develop their businesses. Using the UTAUT as a guiding framework, semi-structured interviews with 11 businesses that typically sold through farmers markets were conducted to examine the qualitative experience of these vendors in moving their businesses online. The findings suggest that performance expectations of social media, as a vehicle to engage with customers, receive feedback, reinforce brand, and realise sales, generally exceeded participants expectations. Social influence from family and friends was a strong factor in facilitating social media adoption and use among rural micro-business market vendors. However, the perceived effort and time required to learn how to use social media effectively and to take advantage of its broader functionality was a barrier to fuller engagement with the technology. Practical implications from the research suggest that facilitating conditions in the form of educational training and government financial support could help vendors adopt and use technology more strategically. Engagement with technology may enable rural micro-businesses such as farmers market vendors overcome some of the unique challenges faced by entrepreneurs in a rural location including smaller consumer market and limited access to supportive infrastructure.
Keywords: Rural; regional; entrepreneurship; social-media; micro-business; UTAUT; COVID-19; digital technology.
Combination of causal and effectual logics of entrepreneurs in the Provence wine region
by Serge Amabile, Coralie HALLER
Abstract: Effectuation and causation are possible logics to explain entrepreneurs behaviours in uncertain environments in regards to four principles (experimentation, affordable losses, flexibility and pre-engagement). However, little is known about how entrepreneurs articulate these two logics on each principle of the theory of effectuation. Our research provides an analysis of how entrepreneurs combine causal and effectual logics for each principle of the theory of effectuation. We use a quali-quantified approach and have designed an evaluation grid and a scoring system to analyse eight interviews of entrepreneurs from wineries of the Provence region in France. The findings show that entrepreneurs cannot be considered as exclusively causal or effectual thinkers. All or a vast majority of the entrepreneurs interviewed combined causal and effectual logics for the experimentation and pre-commitment principles. The results also highlight that entrepreneurs are able to switch from one logic to the other in certain situations according to the information gathered for instance through business intelligence activities.
Keywords: entrepreneurship; effectuation logic; causation logic; combination; wine industry.
How do SMEs strategies change under the impacts of a critical external shock? The case of Vietnamese SMEs under the COVID-19 pandemic
by Long Hoang Le, An Hoang Kim Vo, Duong Tuan Nguyen, Giang Huong Duong
Abstract: The impacts of external shock caused by the coronavirus (COVID-19) pandemic force small and medium enterprises (SMEs) to change their strategy to survive and/or even grow. This study aims to explore how SMEs change their strategies under the impact of the pandemic. We used semi-structured in-depth interviews with owners/managers of SMEs in Vietnam immediately after the outbreak of the pandemic and the implementation of the social distancing policy to collect the data. A thematic analysis was carried out under the theoretical lens of the dynamic capabilitys theory and strategic responses to the crisis model. The findings revealed the crucial role of dynamic capabilities with SMEs strategy changes during the acute social crisis. In particular, firms with innovative capability and agility capability employed innovative strategies to exploit opportunities from the uncertain market. Meanwhile, firms with less preparation for crisis management adopted a perseverance strategy, and the firms without those characteristics followed retrenchment strategies.
Keywords: COVID-19; dynamic capabilities theory; pandemic; SMEs; Vietnam.
Relationships and personality roots of entrepreneurs' value creation motivation
by Lívia Lukovszki, Norbert Sipos, András Rideg, Zsófia Vörös
Abstract: Entrepreneurs often pursue social goals and contribute excessively to social well-being. Still, the knowledge on the relationship between entrepreneurs' individual and social entrepreneurial value creation motives and their personality roots is very limited. Therefore, based on Vroom's Expectancy Theory and a sample of 195 entrepreneurs, first, we examine the interactions between the elements of individual and social aspects of entrepreneurial motivational force. Second, the Big Five personality traits are linked to the two facets of entrepreneurial motivational force and their elements. The results show that strong individual and social aspects of entrepreneurial motivational force may not accompany each other, and this is partially because of their deep roots in different personality traits. It seems that the individual aspects of entrepreneurial personality profile trait constellation, i.e., a trait profile leading to higher individual aspects of entrepreneurial motivational force support, although to a lesser extent, the social aspects of entrepreneurial motivational force. On the other hand, the social aspects of entrepreneurial personality profile do not seem to bring individual aspects of entrepreneurial motivation.
Keywords: Expectancy Theory; entrepreneurial motivation; social goal; Big Five; value creation.
One for all or everyone for themselves: why is coopetition so difficult? The case of four small vineyards in central France
by Anne ALBERT-CROMARIAS, Alexandre ASSELINEAU
Abstract: This article deals with the mechanism of coopetition formation from a network perspective, focusing in the wine industry. Through a comprehensive approach, we study the case of four vineyards in central France that are located in a low-profile wine-growing region and made up of very small firms fighting in a highly competitive market. While everything seems to encourage them to collaborate, these vineyards have so far remained unable to develop an effective coopetition strategy beyond a few specific initiatives. We seek to identify the reasons for these difficulties by analysing exogenous and endogenous coopetitive drivers. Our results provide theoretical contributions theory by showing that: the formation stage can lead to effective or ineffective coopetition; coopetition in an embedded network is specific; and coopetition intentionality plays a role in this formation stage.
Keywords: Coopetition; Network; Coopetition formation; Small business; Wine.
Social Network Analysis: Unveiling the Joint Investment Patterns of Shark Tank Entrepreneurs
by Nasser Shahrasbi, Tai-Yin Chi, Paul Beckman
Abstract: This research illustrates an important application of Social Network Analysis in the entrepreneurship and venture capital domain. Using the secondary data from the Shark Tanks TV show and graph analysis, our research unveils interesting patterns in Sharks investment decisions that were not apparent using other methods like statistical analysis. Our network analysis over multiple seasons of the show reveals that the number of single investments increased almost perfectly linearly over time while double investments decreased mostly linearly, implying that most Sharks (investors) find more value in investing solely than in-joint with other investors. Our results also show that one particular Shark (Mr. Kevin OLeary) invested jointly (versus individually) at a much higher rate than the other Sharks. We hypothesize that this may have been attributed to his experience in financial investments and risk management, which resulted in taking more financial risks than other investors. We discuss how these results were not possible to obtain without Social Network Analysis and Graph Theory.
Keywords: Social Network Analysis; Venture Capital; Entrepreneurship; Joint Investing; Graph Theory; Shark Tank.
Bibliometric analysis of social media research in SMEs: A review and way forward
by Norfarah Nordin, A.K. Siti-Nabiha, Seyedh Mahboobeh Jamali, Nader Ale Ebrahim
Abstract: This paper seeks to determine the trend of social media research in the context of small-and-medium-sized enterprises (SMEs) and present the future research direction in this area. The documents were collected through a keywords title search from the Scopus database. The relevant documents are analysed using bibliometrics analysis, and qualitative systematic review to understand their structure in terms of theme, method, and theory used. This research found 141 documents from the Scopus database on SMEs' social media from 2011 to 2021. The systematic review of 20 top-cited per year (TCpY) papers are classified into three themes; SMEs social media adoption, social media for SMEs strategy, and innovation powered by social media in SMEs. The most popular theory used is the Diffusion of Innovation. Based on critical analysis, major gaps and future research are presented and discussed.
Keywords: social media; SMEs; bibliometric; systematic review.
The impact of technostress on small business owners burnout: The mediating role of strain
by Alexandre Benzari, Anis Khedhaouria, Olivier Torrès, Alain Cucchi
Abstract: A revised stressstrain-outcome (SSO) model of burnout was empirically tested with a large sample of 239 small business owners. Our model differentiates the consequences of strain into short-term and long-term consequences to study the mechanisms through which technostress (technostressors) affects strain (short-term consequence) and job burnout as an outcome (long-term consequence). Our results revealed three technostressors (techno-induced work overload, techno-induced job insecurity, and techno-induced role ambiguity) to be positively and directly associated with small business owners strain. There was no direct effect of technostressors on burnout. Considering the short-term and long-term consequences, strain fully mediated the relationship between technostressors and burnout. Implications for theory and practice are discussed.
Keywords: Small business owners - Technostress - Technostressors - Strain - Burnout - Information and communication technologies.
Intrafamily Successors Motivation and its Impact on Success of Business: A Case of Construction Sector Family-Businesses in India
by Harish Kumar Singla, Pradeepta Kumar Samanta, Srividhya Raju Sridharan
Abstract: One of the unique features of the Indian family business is its relation-based practices. Therefore, a successor may join the family business not just because of his/her own choice but may join it as a part of the family tradition or compulsion. Hence, it becomes important to find the impact of intrafamily successors motivation on the success of their family business in India. In this study, authors developed a structural equation model-partial least square (SEM-PLS) based on the data gathered from the respondents. All the respondents belong to construction family business. The results of the SEM-PLS suggest that autonomous and external motivation, both led to opportunist behaviour of the successor and it also leads to the success of a business. The model is fit with an R-square of 36%. The study proposes a model which indicates that autonomous and external motivation lead to opportunist behaviour and success of business in the Indian context for the construction sector.
Keywords: Family Business; Intrafamily; Second Generation; Successor; Success; Construction Sector; India.
The influence of the farmer and his family on the adoption of short food supply chains
by Magali Aubert, Geoffroy Enjolras
Abstract: In a search of higher income and lower dependence on intermediaries in the food chain, family farms are increasingly adopting short food supply chains (SFSCs). The purpose of this paper is to investigate the role of farm entrepreneurs and their family in defining the implementation of SFSCs. We use the 2010 Exhaustive Agricultural Census of French farms and implement a logit model. The results underline the fact that young and educated farm entrepreneurs are more likely to promote SFSCs. The presence of the family on the farm as well as the involvement of family members play a key role in the choice of SFSCs. However, the marital status of a farm entrepreneur and the involvement of their spouse have no specific influence. This research sheds new light on the key role played by families in supporting productive and marketing strategies of farms.
Keywords: family-run management; short food supply chains; farming.
Business model renewal and firms' performance: the role of preventive vs promotion mindsets
by Sukanlaya Sawang, Arun Sukumar, Poh Yen Ng, Vahid Jafari-Sadeghi
Abstract: This study explores the role of an entrepreneurial mindset in buffering the relationship between the recurrent business model renewal and firms performances over time. Using the Comprehensive Australian Study of Entrepreneurial Emergence (CAUSEE), a 3-year longitudinal study, this paper examines the role of preventive and promotion mindsets in business model renewals and firm performance. A sample of 599 young firms (in the first wave) was used in exploring the role of entrepreneurial mindsets in business model renewals and firm performance. Factor and Regression analysis were the main methods used to understand the relationship between promotion versus prevention mindsets in the business model renewals. The results showed that well-performing entrepreneurs tended to change their business models more frequently. Examining subjective performance, it was noted that it was slower among preventive mindset than promotion mindset entrepreneurs.
Keywords: Business Model; Entrepreneurs; Mindsets; Regulatory Focus Theory; Latent growth.
Key Research Issues and Agendas in Start-up post-Covid-19
by Vibhuti Tripathi, Akshita Dwivedi
Abstract: The lockdowns mandated for controlling virus spread altered social behaviour, and negatively impacted businesses and operations. As a result of social distance and staying at home, internet usage increased. Rise in digitalization and e-commerce clearly indicates a new era of innovative business models and a variety of research agendas. It would be pragmatic to study these recent and inevitable changes, new challenges, and business opportunities. The study followed a systematic literature review approach. This review study is an attempt to systematically review, analyze, and classify the primary contributions published in managerial literature on ?COVID-19 and Start-ups?; using VOSviewer software for tracing clustering solutions. This orderly reviewed literature study offers a holistic view of studies on ?start-ups? affiliated with the COVID-19 crisis. The scope of study covers several themes that initially emerged concerning the entrepreneurial field. Challenges, innovation, and opportunities are found to generate significant interest in literature. The analysis shows how the epidemic forces businesses to innovate and offer multiple opportunities through digitization. The study has some policy and managerial implications as well.
Keywords: COVID-19; Start-ups; pandemic; opportunities; managerial perspective; systematic literature review.
Special Issue on: Sustainable Entrepreneurship in the Cultural and Creative Sector Contextualisation, Challenges and Prospects
by Angela Besana, Annamaria Esposito, Cristina Vannini
Abstract: Who are masters of economic performances in US art museums? Due to the economic crisis and budget cuts, entrepreneurship is today a must. Thanks to relationship marketing board members, employees and volunteers are all entitled to call for the willingness to donate and the willingness to pay of multiple stakeholders. The aim of the paper was to cluster the largest 100 US art museums in terms of the relation between their ratios of board members, employees and volunteers and their economic performances in 2015. Relationship marketing, with its unique value proposition, is a crucial strategy in a competitive landscape, where resources are diminishing, and museums are coping with substitute and creative supplies. When the share of voting members is the largest of the samples, the fundraising expenses and contributions are maximised, above all, from affluent donors and sponsors. In search of economic sustainability, efforts of employees and volunteers are pivotal for marketing goals and fundraising by citizens and small donors. In order to exploit relationship marketing potentialities, both must make visible their unique value propositions.
Keywords: relationship marketing; fundraising; cluster; museum; museum employees; museum volunteers; museum boards; museum net assets; museum gains; US museum; museum value proposition.
Innovative Business Model for Adaptive Reuse of Cultural Heritage in a Circular Economy Perspective
by Christian Ost, Ruba Saleh
Abstract: This article aims to develop an innovative business model for adaptive reuse of cultural heritage in a circular economy perspective, and in line with the guidelines of the Historic Urban Landscape approach. Adaptive reuse of cultural heritage is considered today as key in urban conservation and sustainable development. This article addresses the relevance of adaptive reuse of cultural heritage to the circular economy objectives. It then suggests an innovative business model which can cope with specific issues of governance and financing processes of adaptive reuse. It is based on the Strongly Sustainable Business Ontology and its related to the Flourishing Business Model, which takes into consideration the multi-dimensional and multi-actors context of sustainability. By building on this model, the paper analyzes the different sections (How, What, For Whom, Why) under the framework of the circular economy.
Keywords: Urban conservation; Historic Urban Landscape; adaptive reuse; circular economy; Flourishing Business Model; positive impacts; Sustainable Development Goals.
CCIs's Role in Promoting Transdisciplinary Approaches to Sustainability
by Elisa Innerhofer, Ingrid Kofler, Harald Pechlaner
Abstract: The following paper discusses the link between transdisciplinarity and cultural and creative industries (CCI) and shows how they contribute to sustainable development. Based on a case study on a real-world laboratory, the paper illustrates transdisciplinarity in cultural and creative industries and their possible impact on sustainable transformation and development. Cultural and creative actors have the ability to think and act creatively, to break boundaries and to cooperate with people across different cultural and creative sectors. Instead of producing and using disciplinary knowledge in a controlled environment, actors of CCI show transdisciplinary engagement in value creation. Based on a case study analysis, the authors show that transdisciplinarity is a common practice in CCI and that CCI can significantly contribute to sustainable development.
Keywords: CCI; Transdisciplinarity; Interdisciplinarity; Real-World Laboratories,.
Equity crowdfunding for cultural heritage: some insights from a French case study
by Elena Borin, Fabio Donato
Abstract: Since the allocation of funds for cultural heritage has been gradually decreasing, both academics and practitioners are increasingly calling for a differentiation of its sources of funding, including innovative models such as crowdfunding (Borin, Donato and Sinapi, 2017; Greffe and Simonnet, 2010). However, the cultural heritage sector is still reluctant to use crowdfunding, and most crowdfunding campaigns are collecting relatively small amounts of money (De Voldere e Zeqo, 2017; Massolution, 2015). A significant exception is equity crowdfunding, which has been able not only to raise considerable amounts of money but also lead to a more participatory and sustainable model of cultural heritage management. This paper analyses this crowdfunding model as applied to the cultural heritage field, investigating success factors in a significant case study of equity crowdfunding in France and reflecting on how this innovative form of financing could contribute to the financial sustainability of cultural heritage.
Keywords: equity crowdfunding; cultural heritage financing; innovative financing; culture- based innovation; financial sustainability; cultural management; cultural heritage sustainability; innovative governance; participatory financing.
Special Issue on: IFC 11 Issues in Investment and Financing Decisions
by Marwa SALLEMI, Salah Ben Hamad
Abstract: Insolvency is a huge threat to banking institutions due to the lack of an appropriate technique to measure this risk. This work examines the effect of banking regulation using a set of panel data obtained in 74 banks from 10 OECD countries during the period 2006-2016. We considered macroeconomic and microeconomic parameters to estimate the insolvency risk at these institutions and evaluate the effect of each parameter on the growth of the firm. The results showed the degree of importance of regulation and banking supervision in some of the sample countries on taking the risk of insolvency that is measured by the Z-Score and subsequently the achievement of banking stability.
Keywords: Bank stability; Banking management techniques; Corruption Control index.
Effects of Macro Economic Indicators on Investment in Equities
by Shaila Srivastava, Shweta Dixit
Abstract: This study investigates the effects of macroeconomic factors such as inflation, gross domestic product, exchange rate, long-term and short-term interest rates and unemployment rate on equity investments in India. In order to measure the performance of equity investments the two most popular indices were used i.e. SENSEX & NIFTY. Stepwise multiple regression analysis is used to predict the SENSEX and NIFTY closing price. Expert Modeler is used to forecast the significant variables under study. Projection of these variables can help the investors to make effective investment decisions as well help the government in designing policies to encourage more investment inflow.
Keywords: SENSEX; NIFTY; Equities; ARIMA; Exponential smoothing; Macro-economic indicators.
The effect of unconditional conservatism on the effectiveness of investment policies through overconfidence in the French context
by Wafa Kchaou, Wafa Lehyani, Salah Ben Hamad
Abstract: In this paper, we first present a practical analysis of the reciprocal relationship between unconditional accounting conservatism and managerial overconfidence. Second, we examine the accounting conservatism effect on the investment policy effectiveness in the French context. The analysis sample includes non-financial companies listed on SBF 250 market with the period 2009-2017. We determine, through this analysis, whether accounting conservatism mitigates the optimism of overconfident managers, knowing that they generally tend to overestimate future returns on investments, exercise less prudent accounting practices and over-invest in capital projects. Basically, this research aims to verify the type of moderating effect that accounting conservatism provides for investment policy effectiveness, and the reduction of related behavioural bias generated by overconfidence. Empirical results allow to elucidate this relationship and remove the ambiguity of the accounting conservatism role on over-investment processes. They support conclusions partly opposed to those established in the literature on other analytical samples.
Keywords: Unconditional Accounting Conservatism; Managerial Overconfidence; Investment Policies; Overinvestment; Dynamic Panel.
Managing Telecommunication Customer Satisfaction Versus perception of Service Quality
by Mbarek Rahmoun, Anis Ben Salem, Mohamed Amine Zainine
Abstract: The Customer satisfaction is generally represented as the result of a comparison between the expected quality and the perceived quality. However, several marketing researchers have considered that satisfaction is a direct result of perception. Based on the latter statement, we study the causal relationship between customer perception of service and satisfaction. Our study consists in analyzing how the perception of the KELMA services (provided to professional customers of Tunisie Telecom) impacts customer satisfaction levels. The results of this study prove that business customers satisfaction is significantly and negatively influenced by their price perception, and positively influenced by their quality perception.
Keywords: Customer Perception; Customer Satisfaction; Service Quality; Customer Loyalty; Telecommunication; Satisfaction Degree; Customer Expectation.
Kasar Community: Migration from Community Business
by Raju Varghese Vazhapilly, Leena Dam
Abstract: Community Businesses have dominated the landscape of Indian business since time immemorial. The businesses that originated and evolved in India had a distinct business community link. Business communities of India were smaller communities based on religion or caste and had their origins based on their ethnicity. The origin of the business community used to determine their occupation or trade. Based on its origin, every business community had governing norms. These norms decided the product or service that the community dealt in. There were religious & social parameters governing the community. One such business community was the Kasar community with major presence in Maharashtra. The community has evolved as traders of bangles and metal craft with time. Kasar community and bangle trading are synonymous in Maharashtra. Bangles are ritually very important in several customs and traditions of Maharashtra and India. The community had several business practises which it held on to and passed on from generation to generation. Once, a thriving community in the bangle trading business, now its members are migrating away from their traditional business. The aim of this study is to analyse the business practises of this community. The study also investigates the possible reasons for shift in calling from traditional business to other opportunities.
Keywords: Keywords: Indian Business Communities; Caste system; ‘Kasar’ business community; Best Business Practises; etc.
Towards the transformation of technological platforms business models? The Uber example
by Nabyla DAIDJ, Thierry DELECOLLE, Cédric DIRIDOLLOU
Abstract: This research aims to understand whether and how dynamic capabilities play a key role in the transformation of platforms business models. The analysis is based on the case of Uber, a major company in the sharing-economy transportation market. It is shown that this company is characterised by a dynamic business model, whose evolution comprises three phases corresponding to the dynamic capabilities framework: the sensing phase (value creation), the seizing phase (iterative creation of the business model itself) and the transformation phase. A simple platform for connecting drivers and private individuals at the time of its creation, Uber is now a multi-sided technological platform, putting data at the centre of its value creation model.
Keywords: Platform; business model; big data; value creation; dynamic capabilities; Uber.
Over-The-Counter Market and the Corporate Bond Market development
by Olfa Berrich, Halim Dabbou, Mohamed Imen Gallali
Abstract: Abstract rn The objective of this paper was to empirically investigate the factors of corporate bond market development for a sample of emerging and developed countries over the period 2008-2017. Here, we used both fixed effect and Prais-Winsten methods to study the determinants of corporate bond market development. We document a negative and significant relationship between primary market issuance and the Over-The-Counter (OTC) secondary corporate bond market that can be explained by the inefficiency of the OTC corporate bond market and the lack of trade transparency for this trading venue. We suggest that these microstructure elements of the OTC secondary market harm the corporate bond market development and thus discourage corporate bonds issuance. Furthermore, we provide strong evidence of the relationship between economic growth, domestic credits, corruption and the issuance of the domestic corporate bond market.
Keywords: Over The counter market; Primary issuance; corporate bond market development; Post-trade transparency; Market Liquidity.
What drives Private Equity Investments Returns Evidence from African Investments
by Eymen Errais
Abstract: This paper explores private equity return drivers in African countries. We focus on factors that are not directly linked to the investee companys fundamentals by examining macroeconomic-, industry-, and deal-level data as well as the variance in their impact on the performance spectrum. This research uses a comprehensive dataset covering 242 deals closed between 1995 and 2020 in 194 companies, operating in 24 African countries, across 14 funds. Our paper shows that exit routes, co-investments, and cash-out structures have a positive impact on returns, while debt usage, firm experience, and ticket size have a limited role in driving returns. In terms of external factors, GDP growth has a positive impact on returns, while business environment variables are found to have limited impact. The sector effect on returns has also been found to be significant, further reinforcing the importance of sector allocation as a performance driver in private equity.
Keywords: Private Equity; Internal Rate of Return; Emerging Markets; Investments.
FACTORS RESPONSIBLE FOR FAILURE OF FOOD TECH STARTUPS IN INDIA
by TAHIR SUFI, Satinderpal Singh
Abstract: Information technology brought radical innovation to the catering industry. The internet has led to the growth of the online food delivery startup. The use of smartphones and the internet transformed how food is ordered and consumed. The mobile applications enabled customers to order food from restaurants located at distant locations. However, a large number of the startups failed, although most of such startups received funding from investors. This paper identifies the factors that led to the failure of such companies. Such factors were identified through a review of literature, company reports and business news portals. The study used a questionnaire method to gather the data and used descriptive statistics to list the top failure factors. An independent sample t-test was used to compare the strategies of the failed and successful startups.
Keywords: Food Tech Startups; Food Aggregators; Factors for Failure; Online Food Delivery Services.
Is Technology an Enabler in the Growth of Mutual Fund sector? A Comparative Study of BRICS Nations
by Aman Grade, Tanmoy De
Abstract: This paper looks and compares the progression of technology as an enabler in the mutual fund industries of the BRICS nations, the five main emerging economies, i.e., Brazil, Russia, India, China, and South Africa (BRICS). The purpose is to discuss how these industries have grown in terms of their FinTech adoption, Total asset size, Number of funds and the Average size for each industry, their Asset allocation ratios - and which one is the most prevalent among them. The aim was to compare the percentage of total Assets Under Management (AUM) in terms of the global market, their equity mutual funds as a percentage of total market value, their market concentration percentages, technology as an enabler to facilitate transactions and stimulate further growth and reach of the industry, and the distribution channels and structure of each industry. The paper finds that China is the biggest contributor among BRICS to the global mutual fund industry and actively embracing technology has made them one of the key players in the mutual funds arena. Its now home to the worlds biggest money market fund operating as a FinTech platform. Their direct digital distribution channels hold more than 80% of the sales. Following China is India, with their direct channels now contributing almost 50% of the sales. While traditional channels like banks and intermediary sales force are still the norm in Brazil, South Africa and Russia, the predictions show a digital future for them as well.
Keywords: Mutual Funds; Emerging Economies; Asset allocation; Asset Management Companies; Assets Under Management; FinTech; BRICS.
Resistance to swelling of Strategic Gender Disparity: Support of Microfinance
by Biswajit Prasad Chhatoi
Abstract: Is enhanced income-generating ability due to microfinance participation has any impact on women empowerment? The current research explores riposte to the perennial research questions associated with social impact, gender disparity and specifically tries to estimate the impact of microfinance participation on strategic gender need (SGN) decision-making. The researcher has collected information on different aspects of SGN and socio-economic condition of 660 microfinance beneficiaries through a well-structured schedule. Rapid Rural Appraisal technique was used to understand functioning of self-help groups (SHGs) and the beneficiary's role in business and household activity. Probit model was used to estimate the impact of microfinance on SGN decision-making. Out of different SGN decision-making, microfinance participation significantly impacts control over own income and creation of business assets. It can minimize the influence of patriarchal society and empowered women to take strategic decision independently. The current research is innovative in measuring impact of microfinance on gender disparity minimization. rnrn
Keywords: Empowerment; Microfinance; Probit; Entrepreneurial decision; Spending Decision; Mobility Decision; Strategic Gender Need.
Special Issue on: Entrepreneurial Internationalisation in, from and to Africa
by Christopher Boafo, Utz Dornberger
Abstract: Firm internationalisation theories have attempted to explain why, when, where, and how firms engage in cross-border business activity. Yet such research analyses have mainly focused on firms in the formal sector rather than the informal sector. As a step toward filling this gap, we examine the internationalisation degree of informal enterprises using enterprise data collected from 125 randomly selected respondents located in two major clusters in Ghana. With an overall 20 foreign markets served, the informal firms internationalise by capitalising on the cluster resources as joint infrastructure and actor-based perspectives and the linkages between informal and formal sectors, as well as by adopting a stage-wise approach. Additionally, 45% of the firms expand abroad but significantly within Africa from 1 to 3 years after establishment. As such, we introduce the term informal born regional enterprises to the literature of internationalisation, which is synonymous with the born regional argument.
Keywords: informal born regional enterprises; informal sector; industrial cluster; networks; SMEs; internationalisation degree; foreign but domestic-situated agents; Ghana.
International social ventures resource mobilization in Sub-Saharan Africa: A case study on effectual networking and knowledge mobilization
by Nathalie Nørregaard Larsen
Abstract: Sub-Saharan Africa is associated with a variety of societal challenges that form the basis for social entrepreneurship opportunities. Academic attention is increasingly being directed towards international social ventures that often are located in the Western part of the world but address societal challenges in developing countries. Prior literature has highlighted the importance of mobilising local resources, such as knowledge and human capital, in the contexts for which solutions to challenges are provided. However, the context of Sub-Saharan Africa is often characterised by resource scarcity and informal social structures that are difficult for outsiders to access. The aim of this study is to explore the socio-spatial dynamics of international social ventures resource mobilisation in high-distance contexts. For this purpose, effectuation theory serves as a theoretical framework, focusing on resource mobilisation through effectual networks. A multiple case study of Danish-based social ventures internationalising into Sub-Saharan Africa provides the foundation for developing contextualised insights into effectuation theory. The findings demonstrate the importance of international social ventures proximal interactions with their effectual networks in the contexts in which they address social problems.
Keywords: international social entrepreneurship; international social ventures; Sub-Saharan Africa; effectuation; effectual networks.
Institutional Actors, Policy and Internationalisation of Emerging Market SMEs: Lessons from AGOA and the Ghanaian Textile Industry
by IRENE KUJALA, Richard Afriyie Owusu
Abstract: This paper focuses on the roles of institutional actors and their policies in promoting the internationalisation of Ghanaian textile firms. A longitudinal research method was employed with the aim of gaining an understanding of the development of the interrelationships between contexts, processes, actors and their activities and resources over a period of 13 years in order for the SME to internationalise. The findings show complex interrelationships, different roles and a greater importance of institutional actors than has been found in previous research. Furthermore, the findings show how the context of SMEs from emerging markets in Africa affect their internationalisation processes and success and how both home and foreign institutions and policies can contribute to the processes through a business network approach. Theoretically, this study contributes to theories of firm internationalisation from emerging markets. Practically, it provides implications for managers and policy makers about how to achieve and support the internationalisation of African SMEs.
Keywords: SME internationalisation; business network; emerging market; institutional actors; longitudinal research.
Light entrepreneurship as a parallel staying strategy Insights from Tanzanian medical doctors
by Maria Elo, Ndikumana David Emmanuel
Abstract: Africa faces numerous challenges such as retaining globally mobile talent and informal economies. Economic inequality leads developing countries to lose human capital, but research on staying strategies remains limited. This multiple-case study explores how Tanzanian medical doctors organise a sufficient income through parallel entrepreneurial activities with forms of light entrepreneurship. We present four strategies from intramural entrepreneurial strategy to extramural diversified entrepreneurial strategy that illustrate distinct contextual adaptations. These dual practices through parallel entrepreneurship enhance their stickiness to the context and profession, thus reducing brain drain. Such entrepreneurial strategies feed in towards upholding their primary profession, suggesting that informal entrepreneurial activity may advance overall sustainability of the society. However, parallel entrepreneurial activities require empowering capacity-building lenses and holistic policy approaches as they are linked to broader issues of local systemic viability and of talent retention in Africa. This study contributes to international migration-, human resources-, entrepreneurship- and sustainability management.
Keywords: dual practices; informal entrepreneurship; light entrepreneurship; entrepreneurial strategy; bricolage; medical doctors; international migration; human stickiness.
Special Issue on: Cultural and Creative Industries
by Mayer Cabrera-Flores, Creta Cota-Cota, Sialia Mellink-Méndez, Alicia Leon-Pozo
Abstract: This paper offers an initial approach to innovation analysis through label design in two products emblematic of Baja California: wine and craft beer. The study was prompted by the boom that both industries have experienced in recent years in the region, and focuses on the innovation diffusion link of Hansen and Birkinshaws (2007) model. In the model, this link is directly associated with product commercialization processes and strategies, which in the 2006 Oslo Manual corresponds to marketing innovation. To that end, an instrument was developed, validated by experts in graphic design, and used to analyze various features to estimate the degree of innovation in labels. These features include the types of materials used, presentation of information, visual design, and persuasiveness through purchase intention. The instrument served as a basis to evaluate a series of regional wine and craft beer labels, using focus groups for data collection. The relevance of this study lies in generating knowledge on stimulating and managing creative and innovation processes within the wine and craft beer industry in Baja California, through product branding with a focus on label design, and determining whether innovation in labeling contributes to influencing brand perception and purchase intention among customers.
Keywords: Labelling innovation; wine industry; craft beer; cultural and creative industry; marketing.
Special Issue on: IFC 10 Risk in Investment and Financing Decisions
by B.E.N. BOUHENI FATEN
Abstract: We investigate the effects of regulation and supervision on the banking performance of the ten largest banks from selected European countries during the period of 2005-2011 using the Generalized Method of Moments (GMM) for a dynamic panel. Our results provide two major findings. First, with regard to influencing factors, regulation and supervision perform differently. In particular, restrictions on banking activities, supervision, deposit insurance and private monitoring have different impacts on banking performance, depending on the indicators of profitability and risk taking. Capital requirements decrease banking profitability, but the market structure boosts Return On Equity (ROE). Second, neglecting the influencing factors, we find that restrictions on banking activities, supervision, private monitoring and market structure increase profitability and reduce risk taking by European banks. We conclude that for the successful implementation of banking regulation and supervision, it is crucial to consider bank-level and country-level factors. In addition, the effect of regulation and supervision on banking performance is conditioned by the improvement of banking governance in Europe.
Keywords: Regulation; Supervision; Profitability; Risk taking ; Dynamic panel data; European banks.
Special Issue on: Is Small Beautiful in the Alcohol Sector?
by Achouak Barguellil
Abstract: The purpose of this paper is to examine the determinants of emigrant remittances by highlighting the impact of asymmetric exchange rate volatility. We have estimated an asymmetric ARDL-PMG panel model on a sample of MENA countries observed over the period 1980-2017. The results of the ARDL-PMG nonlinear model estimates indicate that, in the long run, economic growth and fixed capital accumulation both have a significant upward impact on emigrant remittances. The incorporation of the exchange rate asymmetry assumption suggests a positive and significant effect only for downward movements in the exchange rate. The impact of exchange rate fluctuations on emigrant remittances is significant only for negative changes.
Keywords: Remittances; exchange rate volatility; asymmetric nonlinear ARD; panel model.
Banks Capital Buffer, Profitability and Risk of Failure: The Effect of Regulation, Supervision and the Business Cycle
by Hassan OBEID, Faten Ben Bouheni, Elena Margarint
Abstract: In this article, we apply the GMM technique on dynamic panels, using both bank-level data and country-level data for the three largest European economies (Germany, the U.K. and France) during the period 20052013 to investigate the impact of regulation, supervision and the business cycle on capital buffers, banking profitability and the risk of failure. Our results provide three major findings. First, the regulation indicators have a negative impact on bank profitability. When the supervisory authority imposes restrictions on banking activities, managers become more risk-averse, the banks risk-taking decreases and, as a consequence, profitability decreases. Second, the measures adopted by the Basel Committee on Banking Supervision (the Basel III Accord) regarding the management of capital buffers over the business cycle are very important in order to fortify the banking systems stability. Third, regulation and supervision perform differently, depending on the indicators of profitability and the risk of failure.
Keywords: Capital Buffer; Profitability; Risk of Failure; Business Cycle; Regulation; Supervision Dynamic Panel.