Pub Date : 2020-07-10DOI: 10.1108/JEPP-03-2019-0018
Abigail N. Devereaux
Augmented and virtual reality, whose ubiquitous convergence is known as extended reality (XR), are technologies that imbue a user’s apparent surroundings with some degree of sensory virtuality. In this article, we are interested in how social entrepreneurs might utilize innovative methods in XR to solve social problems. Social entrepreneurship in XR presents novel challenges and opportunities not present in traditional regulatory spaces, as XR changes the environment in which choices are made. The complex and fast-changing nature of XR requires agile and context-sensitive governance to address these issues. Thus, we expect social entrepreneurs to create a new regulatory infrastructure to address challenges and opportunities presented by XR. My central thesis is that the dynamic, immersive, and agile nature of XR provides a fertile ground for the development of alternative forms of governance and incentivizes this development in contrast to relatively inagile, context-insensitive institutions of public governance.
{"title":"The digital Wild West: on social entrepreneurship in extended reality","authors":"Abigail N. Devereaux","doi":"10.1108/JEPP-03-2019-0018","DOIUrl":"https://doi.org/10.1108/JEPP-03-2019-0018","url":null,"abstract":"Augmented and virtual reality, whose ubiquitous convergence is known as extended reality (XR), are technologies that imbue a user’s apparent surroundings with some degree of sensory virtuality. In this article, we are interested in how social entrepreneurs might utilize innovative methods in XR to solve social problems. Social entrepreneurship in XR presents novel challenges and opportunities not present in traditional regulatory spaces, as XR changes the environment in which choices are made. The complex and fast-changing nature of XR requires agile and context-sensitive governance to address these issues. Thus, we expect social entrepreneurs to create a new regulatory infrastructure to address challenges and opportunities presented by XR. My central thesis is that the dynamic, immersive, and agile nature of XR provides a fertile ground for the development of alternative forms of governance and incentivizes this development in contrast to relatively inagile, context-insensitive institutions of public governance.","PeriodicalId":44503,"journal":{"name":"Journal of Entrepreneurship and Public Policy","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2020-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/JEPP-03-2019-0018","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46201349","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-07-09DOI: 10.1108/jepp-03-2019-0010
A. Cicchiello, M. Pietronudo, Daniele Leone, Andrea Caporuscio
PurposeThe aim of this research is to contribute to the existing literature about the entrepreneurial conditions in crowd-based contexts by describing how different European countries regulate equity crowdfunding market in order to incentive the investments and protect investors.Design/methodology/approachBased on a legal acts' analysis, we conduct a qualitative study comparing the crowdfunding regulation addressed to investors. In particular, we focus our analysis on the European countries with the highest concentration of crowdfunding platforms (i.e. the UK, Germany, France, Italy and Spain).FindingsThe results show that some countries, such as the UK, Germany and France, present an investor-oriented approach based on non-restrictive regulation, while other countries, such as Spain and Italy, have a restrictive approach that protects investors excessively and discourages them. In particular, the case study of France shows how the introduction of unrestricted regulation can produce positive effects on the volume of crowdfunding transactions.Practical implicationsThe paper is addressed to investors, policymakers and intermediaries (platforms) to help the first in orienting themselves between the different crowdfunding regulations and the latter in aligning and orchestrating rules and norms.Originality/valueThis is the first study that analyses the role of investor-oriented regulations in the promotion of entrepreneurship through the identification of four key factors to monitor equity crowdfunding regulations.
{"title":"Entrepreneurial dynamics and investor-oriented approaches for regulating the equity-based crowdfunding","authors":"A. Cicchiello, M. Pietronudo, Daniele Leone, Andrea Caporuscio","doi":"10.1108/jepp-03-2019-0010","DOIUrl":"https://doi.org/10.1108/jepp-03-2019-0010","url":null,"abstract":"PurposeThe aim of this research is to contribute to the existing literature about the entrepreneurial conditions in crowd-based contexts by describing how different European countries regulate equity crowdfunding market in order to incentive the investments and protect investors.Design/methodology/approachBased on a legal acts' analysis, we conduct a qualitative study comparing the crowdfunding regulation addressed to investors. In particular, we focus our analysis on the European countries with the highest concentration of crowdfunding platforms (i.e. the UK, Germany, France, Italy and Spain).FindingsThe results show that some countries, such as the UK, Germany and France, present an investor-oriented approach based on non-restrictive regulation, while other countries, such as Spain and Italy, have a restrictive approach that protects investors excessively and discourages them. In particular, the case study of France shows how the introduction of unrestricted regulation can produce positive effects on the volume of crowdfunding transactions.Practical implicationsThe paper is addressed to investors, policymakers and intermediaries (platforms) to help the first in orienting themselves between the different crowdfunding regulations and the latter in aligning and orchestrating rules and norms.Originality/valueThis is the first study that analyses the role of investor-oriented regulations in the promotion of entrepreneurship through the identification of four key factors to monitor equity crowdfunding regulations.","PeriodicalId":44503,"journal":{"name":"Journal of Entrepreneurship and Public Policy","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2020-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/jepp-03-2019-0010","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47919676","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-26DOI: 10.1108/jepp-10-2019-0078
Stefanie Haeffele, A. Craig
Purpose - This paper argues that commercial entrepreneurial activities have social implications and can provide needed social spaces during the disaster recovery process, and that viewing commercial enterprises as socially valuable has implications for post-disaster public policy. Design/methodology/approach - This paper discusses themes and concepts developed through in-depth interviews conducted in New Orleans, Louisiana, and Houston, Texas, after Hurricane Katrina. Particular case studies of the personal experiences of communities that recovered after Hurricane Katrina are utilized to highlight how commercial entrepreneurship creates and maintains social spaces where community members can share resources and connect during the recovery process. Findings - Entrepreneurs need not have a specific social mission in order to make social contributions, and commercial entrepreneurship should create and maintain social spaces that are important for community recovery after disasters. Practical implications - The social spaces that commercial entrepreneurs facilitate should be considered when designing and implementing public policy in the post-disaster context. Policies can often hinder recovery, and policymakers should instead establish clear regulatory regimes and allow for greater space for entrepreneurs to act. Originality/value - This paper highlights the role entrepreneurs play in advancing social goals and purposes after disasters, specifically how commercial entrepreneurs can create and maintain social spaces where community members gather to discuss their challenges and strategies for disaster recovery. It highlights the extra-economic role of commercial entrepreneurs and discusses the implications for public policy based on this broadened conception of entrepreneurship.
{"title":"Commercial social spaces in the post-disaster context","authors":"Stefanie Haeffele, A. Craig","doi":"10.1108/jepp-10-2019-0078","DOIUrl":"https://doi.org/10.1108/jepp-10-2019-0078","url":null,"abstract":"Purpose - This paper argues that commercial entrepreneurial activities have social implications and can provide needed social spaces during the disaster recovery process, and that viewing commercial enterprises as socially valuable has implications for post-disaster public policy. Design/methodology/approach - This paper discusses themes and concepts developed through in-depth interviews conducted in New Orleans, Louisiana, and Houston, Texas, after Hurricane Katrina. Particular case studies of the personal experiences of communities that recovered after Hurricane Katrina are utilized to highlight how commercial entrepreneurship creates and maintains social spaces where community members can share resources and connect during the recovery process. Findings - Entrepreneurs need not have a specific social mission in order to make social contributions, and commercial entrepreneurship should create and maintain social spaces that are important for community recovery after disasters. Practical implications - The social spaces that commercial entrepreneurs facilitate should be considered when designing and implementing public policy in the post-disaster context. Policies can often hinder recovery, and policymakers should instead establish clear regulatory regimes and allow for greater space for entrepreneurs to act. Originality/value - This paper highlights the role entrepreneurs play in advancing social goals and purposes after disasters, specifically how commercial entrepreneurs can create and maintain social spaces where community members gather to discuss their challenges and strategies for disaster recovery. It highlights the extra-economic role of commercial entrepreneurs and discusses the implications for public policy based on this broadened conception of entrepreneurship.","PeriodicalId":44503,"journal":{"name":"Journal of Entrepreneurship and Public Policy","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2020-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/jepp-10-2019-0078","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44743975","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-20DOI: 10.1108/jepp-07-2020-116
J. Potts, S. Davidson, C. Berg
{"title":"Blockchain innovation and public policy","authors":"J. Potts, S. Davidson, C. Berg","doi":"10.1108/jepp-07-2020-116","DOIUrl":"https://doi.org/10.1108/jepp-07-2020-116","url":null,"abstract":"","PeriodicalId":44503,"journal":{"name":"Journal of Entrepreneurship and Public Policy","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2020-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/jepp-07-2020-116","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43541414","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-14DOI: 10.1108/jepp-06-2019-0054
James Burton
PurposeThis paper argues that policymakers and academics should place more emphasis on maximising the additional benefit created by entrepreneurial support programs and impact investments. It demonstrates a robust approach to advancing this field of research by using qualitative methods to determine the variables that may predict the additional benefit a firm will gain from funding.Design/methodology/approachThe research is based on 60 semi-structured interviews averaging 1.5 h each; 45 with entrepreneurs that did or did not receive funding from a business plan competition in Nigeria, 15 with relevant elites. Detailed World Bank panel data on program participants further validated responses and supported conclusions.FindingsNumerous factors that may explain additional benefit were uncovered, including those that vary the need for external funding and those that vary access to it.Research limitations/implicationsQualitative methods explored variables previously assumed to be unobservable. Future studies are necessary to test the results quantitatively.Social implicationsUnderstanding the characteristics that indicate ex ante which firms would most benefit from support will help policymakers, impact investors and development institutions to more effectively allocate capital.Originality/valueThis paper addresses the paucity of research into increasing additional impact and demonstrates the value of pursuing it. Methods used to suggest additionality variables for such programs and many of the factors highlighted are unique to this study. The research is also based on unique access to the participants and un-anonymised data from a significant World Bank study, and on substantially more interviews than previous papers.
{"title":"Supporting entrepreneurs when it matters: optimising capital allocation for impact","authors":"James Burton","doi":"10.1108/jepp-06-2019-0054","DOIUrl":"https://doi.org/10.1108/jepp-06-2019-0054","url":null,"abstract":"PurposeThis paper argues that policymakers and academics should place more emphasis on maximising the additional benefit created by entrepreneurial support programs and impact investments. It demonstrates a robust approach to advancing this field of research by using qualitative methods to determine the variables that may predict the additional benefit a firm will gain from funding.Design/methodology/approachThe research is based on 60 semi-structured interviews averaging 1.5 h each; 45 with entrepreneurs that did or did not receive funding from a business plan competition in Nigeria, 15 with relevant elites. Detailed World Bank panel data on program participants further validated responses and supported conclusions.FindingsNumerous factors that may explain additional benefit were uncovered, including those that vary the need for external funding and those that vary access to it.Research limitations/implicationsQualitative methods explored variables previously assumed to be unobservable. Future studies are necessary to test the results quantitatively.Social implicationsUnderstanding the characteristics that indicate ex ante which firms would most benefit from support will help policymakers, impact investors and development institutions to more effectively allocate capital.Originality/valueThis paper addresses the paucity of research into increasing additional impact and demonstrates the value of pursuing it. Methods used to suggest additionality variables for such programs and many of the factors highlighted are unique to this study. The research is also based on unique access to the participants and un-anonymised data from a significant World Bank study, and on substantially more interviews than previous papers.","PeriodicalId":44503,"journal":{"name":"Journal of Entrepreneurship and Public Policy","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2020-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/jepp-06-2019-0054","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48969566","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-04-17DOI: 10.1108/jepp-10-2019-0079
B. Urban, Zethu Dlamini
Purpose - Public policy supported by effective institutions is one of the key strategies for promoting entrepreneurial activities. However, the problem is that an enabling environment that supports entrepreneurship is often lacking in several African countries. The aim of this article is to deepen our understanding of the mix of policy and institutional factors which create an enabling environment for enterprise growth in Swaziland. Design/methodology/approach - Primary data are sourced from 200 enterprises across Swaziland's main regions and hypotheses are statistically tested using correlational and regression analyses. Findings - Results show that a mix of different institutional and state support factors such as access to markets, education and training, access to finance, contract enforcement, regulations and business support programmes all have a significant and positive impact on enterprise growth. Research limitations/implications - Study implications relate to the need for specific and targeted policy interventions required to foster an enabling environment in order to stimulate enterprise growth in Swaziland. Originality/value - Empirical investigations on enterprise growth in under-researched developing market contexts, such as Swaziland, are important since in many developing and emerging markets small enterprises are at the epicentre of the economy Moreover, this study adds to the stream of research highlighting that the application of institutional theory provides a detailed theoretical understanding of the actors and the process by which enterprise policy is formulated.
{"title":"Intersections between policy and institutions: a focus on enterprise growth in Swaziland","authors":"B. Urban, Zethu Dlamini","doi":"10.1108/jepp-10-2019-0079","DOIUrl":"https://doi.org/10.1108/jepp-10-2019-0079","url":null,"abstract":"Purpose - Public policy supported by effective institutions is one of the key strategies for promoting entrepreneurial activities. However, the problem is that an enabling environment that supports entrepreneurship is often lacking in several African countries. The aim of this article is to deepen our understanding of the mix of policy and institutional factors which create an enabling environment for enterprise growth in Swaziland. Design/methodology/approach - Primary data are sourced from 200 enterprises across Swaziland's main regions and hypotheses are statistically tested using correlational and regression analyses. Findings - Results show that a mix of different institutional and state support factors such as access to markets, education and training, access to finance, contract enforcement, regulations and business support programmes all have a significant and positive impact on enterprise growth. Research limitations/implications - Study implications relate to the need for specific and targeted policy interventions required to foster an enabling environment in order to stimulate enterprise growth in Swaziland. Originality/value - Empirical investigations on enterprise growth in under-researched developing market contexts, such as Swaziland, are important since in many developing and emerging markets small enterprises are at the epicentre of the economy Moreover, this study adds to the stream of research highlighting that the application of institutional theory provides a detailed theoretical understanding of the actors and the process by which enterprise policy is formulated.","PeriodicalId":44503,"journal":{"name":"Journal of Entrepreneurship and Public Policy","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2020-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/jepp-10-2019-0079","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48863222","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-03-07DOI: 10.1108/jepp-08-2019-0065
Alicia Plemmons
PurposeThe purpose of this study is to analyze how occupational licensing costs within a state affect the performance of self-employed firms, as measured through annual sales.Design/methodology/approachThis study utilizes an empirical approach to determine if there are additional effects on the annual sales for firms that are self-employed in high-cost states that are not explained through the individual estimations. Since the choice of self-employment is plausibly nonrandom, this study also uses a propensity score matching method to develop a matched subsample of self-employed and employee-maintaining firms. This selection methodology ensures that the set of self-employed and employee-maintaining firm observations are similar in all measurable attributes besides their regulatory environment and firm structure. Using this representative subsample, the empirical framework is repeated to reevaluate the effects of high occupational licensing fees on the sales of self-employed firms.FindingsIn both the unmatched and matched samples, there are significant, large, negative interactions representing a reduction in annual sales per employee within self-employed firms relative to employee-maintaining firms when located in states with above-average occupational licensing costs. The results using the matched subsamples are noticeably smaller in magnitude, which indicates that future policy assessments would benefit from ensuring that the sample pool, when dealing with self-employment, is limited only to firms under a common convex hull in order to not skew the size of results.Originality/valueThis study contributes new understanding of the financial relationship of self-employed firms and occupational licensing costs using firm-level observations of sales and firm structure. This has important policy implications for the development and evaluation of occupational licensing policies when considering effects on the self-employed.
{"title":"Does occupational licensing costs disproportionately affect the self-employed?","authors":"Alicia Plemmons","doi":"10.1108/jepp-08-2019-0065","DOIUrl":"https://doi.org/10.1108/jepp-08-2019-0065","url":null,"abstract":"PurposeThe purpose of this study is to analyze how occupational licensing costs within a state affect the performance of self-employed firms, as measured through annual sales.Design/methodology/approachThis study utilizes an empirical approach to determine if there are additional effects on the annual sales for firms that are self-employed in high-cost states that are not explained through the individual estimations. Since the choice of self-employment is plausibly nonrandom, this study also uses a propensity score matching method to develop a matched subsample of self-employed and employee-maintaining firms. This selection methodology ensures that the set of self-employed and employee-maintaining firm observations are similar in all measurable attributes besides their regulatory environment and firm structure. Using this representative subsample, the empirical framework is repeated to reevaluate the effects of high occupational licensing fees on the sales of self-employed firms.FindingsIn both the unmatched and matched samples, there are significant, large, negative interactions representing a reduction in annual sales per employee within self-employed firms relative to employee-maintaining firms when located in states with above-average occupational licensing costs. The results using the matched subsamples are noticeably smaller in magnitude, which indicates that future policy assessments would benefit from ensuring that the sample pool, when dealing with self-employment, is limited only to firms under a common convex hull in order to not skew the size of results.Originality/valueThis study contributes new understanding of the financial relationship of self-employed firms and occupational licensing costs using firm-level observations of sales and firm structure. This has important policy implications for the development and evaluation of occupational licensing policies when considering effects on the self-employed.","PeriodicalId":44503,"journal":{"name":"Journal of Entrepreneurship and Public Policy","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2020-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/jepp-08-2019-0065","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43264677","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-02-19DOI: 10.1108/jepp-01-2021-0007
G. Cunha, Paulo Arvate
PurposeThe purpose of this paper is to investigate the effect of government-led programs on the engagement of individuals in entrepreneurship.Design/methodology/approachThe authors worked with government-led programs of 16 European countries between 2003 and 2014 and were able to benefit from the 2008 natural experiment (i.e. the global financial crisis) to produce a robust investigation using a regression kink design (RKD).FindingsThe work shows that government-led programs that are designed to include monitoring schemes can significantly increase individuals' engagement in opportunity-driven entrepreneurship. The authors found that monitoring schemes do not have the same relevance for necessity-driven entrepreneurship. Therefore, the authors believe the difference occurs because monitoring design avoids problems related to moral hazard and adverse selection when it comes to individuals choosing whether to participate (or not) in government-led programs.Originality/valueWhile it is important for governments to provide an enabling environment for entrepreneurship, this study showed that not all types of public program have positive results. In fact, it has been demonstrated that poorly-designed programs can actually decrease the likelihood of individuals engaging in entrepreneurial activities. The efficiency of programs is substantially improved, however, when they are designed to include monitoring schemes.
{"title":"Fostering entrepreneurship: the crucial role of monitoring schemes","authors":"G. Cunha, Paulo Arvate","doi":"10.1108/jepp-01-2021-0007","DOIUrl":"https://doi.org/10.1108/jepp-01-2021-0007","url":null,"abstract":"PurposeThe purpose of this paper is to investigate the effect of government-led programs on the engagement of individuals in entrepreneurship.Design/methodology/approachThe authors worked with government-led programs of 16 European countries between 2003 and 2014 and were able to benefit from the 2008 natural experiment (i.e. the global financial crisis) to produce a robust investigation using a regression kink design (RKD).FindingsThe work shows that government-led programs that are designed to include monitoring schemes can significantly increase individuals' engagement in opportunity-driven entrepreneurship. The authors found that monitoring schemes do not have the same relevance for necessity-driven entrepreneurship. Therefore, the authors believe the difference occurs because monitoring design avoids problems related to moral hazard and adverse selection when it comes to individuals choosing whether to participate (or not) in government-led programs.Originality/valueWhile it is important for governments to provide an enabling environment for entrepreneurship, this study showed that not all types of public program have positive results. In fact, it has been demonstrated that poorly-designed programs can actually decrease the likelihood of individuals engaging in entrepreneurial activities. The efficiency of programs is substantially improved, however, when they are designed to include monitoring schemes.","PeriodicalId":44503,"journal":{"name":"Journal of Entrepreneurship and Public Policy","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2020-02-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45277571","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-01-13DOI: 10.1108/jepp-07-2019-0061
Malavika Nair, Martha Njolomole
The purpose of this paper is to consider the success and failure of microfinance institutions in generating economic growth over the past 30 years and propose a dual criterion of evaluation.,It surveys the empirical literature on microfinance and finds that while there has been small and localized success in various countries in improving access to credit, at the same time there has been a broader failure to generate economic growth. The authors argue that this broader failure should be viewed from the viewpoint of institutional failure or the lack of supporting institutions such as private property rights and stable rule of law within developing countries.,Using Baumol’s (1968) theory of entrepreneurship, the authors argue that the broader failure of microfinance is a case of poor institutional quality leading to unproductive or even destructive entrepreneurship rather than productive entrepreneurship. The paper also suggests a link between the literature criticizing foreign aid and this view on microfinance.,The paper provides a survey of the empirical literature on micro finance as well as a novel framework that aids in understanding both the localized small-scale success as well as broader failure to generate economic growth.
{"title":"Microfinance, entrepreneurship and institutional quality","authors":"Malavika Nair, Martha Njolomole","doi":"10.1108/jepp-07-2019-0061","DOIUrl":"https://doi.org/10.1108/jepp-07-2019-0061","url":null,"abstract":"The purpose of this paper is to consider the success and failure of microfinance institutions in generating economic growth over the past 30 years and propose a dual criterion of evaluation.,It surveys the empirical literature on microfinance and finds that while there has been small and localized success in various countries in improving access to credit, at the same time there has been a broader failure to generate economic growth. The authors argue that this broader failure should be viewed from the viewpoint of institutional failure or the lack of supporting institutions such as private property rights and stable rule of law within developing countries.,Using Baumol’s (1968) theory of entrepreneurship, the authors argue that the broader failure of microfinance is a case of poor institutional quality leading to unproductive or even destructive entrepreneurship rather than productive entrepreneurship. The paper also suggests a link between the literature criticizing foreign aid and this view on microfinance.,The paper provides a survey of the empirical literature on micro finance as well as a novel framework that aids in understanding both the localized small-scale success as well as broader failure to generate economic growth.","PeriodicalId":44503,"journal":{"name":"Journal of Entrepreneurship and Public Policy","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2020-01-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/jepp-07-2019-0061","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44856249","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-12-23DOI: 10.1108/jepp-09-2019-0075
T. Lyons, J. Lyons, G. J. Jolley
Purpose - The purpose of this paper is to argue that defining, measuring and developing skills are crucial to successful entrepreneurship and that being able to do so can help to build strong rural entrepreneurial ecosystems. Design/methodology/approach - The literature on entrepreneurship success and entrepreneurial skills is reviewed, and this knowledge is used to create and describe the Entrepreneurship Skill-building Framework (ESBF), which provides a scaffold for thinking about the identification, measurement and development of essential entrepreneurship skills. The same literature is used to develop a tool for effectuating the ESBF, called the Readiness Inventory for Successful Entrepreneurship (RISE), which assesses entrepreneurship skills using the communimetrics theory of measurement. Findings - Both the ESBF and the RISE are detailed, and they are applied to the successful development and maintenance of rural entrepreneurial ecosystems, with an example from practice. Specific implications for rural entrepreneurship-focused economic development are also discussed. Originality/value - The ESBF represents a new way of framing entrepreneurship skills and their development. The RISE is a skills assessment tool that is clinical, not predictive, utilizing an innovative theory of measurement. Together, they offer a fresh approach to thinking about the purpose and effective implementation of entrepreneurial ecosystems.
{"title":"Entrepreneurial skill-building in rural ecosystems","authors":"T. Lyons, J. Lyons, G. J. Jolley","doi":"10.1108/jepp-09-2019-0075","DOIUrl":"https://doi.org/10.1108/jepp-09-2019-0075","url":null,"abstract":"Purpose - The purpose of this paper is to argue that defining, measuring and developing skills are crucial to successful entrepreneurship and that being able to do so can help to build strong rural entrepreneurial ecosystems. Design/methodology/approach - The literature on entrepreneurship success and entrepreneurial skills is reviewed, and this knowledge is used to create and describe the Entrepreneurship Skill-building Framework (ESBF), which provides a scaffold for thinking about the identification, measurement and development of essential entrepreneurship skills. The same literature is used to develop a tool for effectuating the ESBF, called the Readiness Inventory for Successful Entrepreneurship (RISE), which assesses entrepreneurship skills using the communimetrics theory of measurement. Findings - Both the ESBF and the RISE are detailed, and they are applied to the successful development and maintenance of rural entrepreneurial ecosystems, with an example from practice. Specific implications for rural entrepreneurship-focused economic development are also discussed. Originality/value - The ESBF represents a new way of framing entrepreneurship skills and their development. The RISE is a skills assessment tool that is clinical, not predictive, utilizing an innovative theory of measurement. Together, they offer a fresh approach to thinking about the purpose and effective implementation of entrepreneurial ecosystems.","PeriodicalId":44503,"journal":{"name":"Journal of Entrepreneurship and Public Policy","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2019-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/jepp-09-2019-0075","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48609821","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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