Pub Date : 2020-10-02DOI: 10.1108/jepp-10-2019-0087
Indu Khurana, Dmitriy Krichevskiy, G. Dempster, Sean Stimpson
PurposeThis paper aims to examine how economic freedom impacts the initial choice of legal structure for startup firms. The authors do this by first exploring whether economic freedom is an essential determinant of the initial legal form of organization (LFO). The authors then explore the impact of economic freedom on firms' choice of changing their initial legal structure over time and how this change impacts their survival rate.Design/methodology/approachThe authors employ a multinomial logistic regression model to measure the initial determinants of LFO by utilizing an eight-year panel data set of 4,928 startups in the USA through the Kauffman firm survey and merge it with the Economic Freedom in North American index from the Fraser Institute. The authors then employ a logistic regression model to examine the determinants facilitating a change in legal structure over time.FindingsThe results show that economic freedom is a significant determinant in the choice of legal structure. The findings also report that the majority of startups do not change their legal form, but of those that do change the legal structure show a higher survival rate.Research limitations/implicationsMajor limitations are the size of the data and the nature of somewhat limited economic freedom differences with the USA. More nuanced measures of economic freedom would be highly desirable.Practical implicationsPolicymakers should take note that limited red tape, smoothly working labor markets and straightforward processes for changes of legal structures of organizations would improve survival and growth odds for entrepreneurs.Originality/valueDrawing on the theory of institutions, the authors attempt to bridge a gap in the literature by explicitly analyzing the determinants of the legal structure in startups in light of economic freedom. Institutional factors do not work in isolation; therefore, the authors also employ traditional entrepreneur-specific variables that affect the choice of legal structure in addition to the institutional framework.
{"title":"Institutions, entrepreneurial adaptation, and the legal form of the organization","authors":"Indu Khurana, Dmitriy Krichevskiy, G. Dempster, Sean Stimpson","doi":"10.1108/jepp-10-2019-0087","DOIUrl":"https://doi.org/10.1108/jepp-10-2019-0087","url":null,"abstract":"PurposeThis paper aims to examine how economic freedom impacts the initial choice of legal structure for startup firms. The authors do this by first exploring whether economic freedom is an essential determinant of the initial legal form of organization (LFO). The authors then explore the impact of economic freedom on firms' choice of changing their initial legal structure over time and how this change impacts their survival rate.Design/methodology/approachThe authors employ a multinomial logistic regression model to measure the initial determinants of LFO by utilizing an eight-year panel data set of 4,928 startups in the USA through the Kauffman firm survey and merge it with the Economic Freedom in North American index from the Fraser Institute. The authors then employ a logistic regression model to examine the determinants facilitating a change in legal structure over time.FindingsThe results show that economic freedom is a significant determinant in the choice of legal structure. The findings also report that the majority of startups do not change their legal form, but of those that do change the legal structure show a higher survival rate.Research limitations/implicationsMajor limitations are the size of the data and the nature of somewhat limited economic freedom differences with the USA. More nuanced measures of economic freedom would be highly desirable.Practical implicationsPolicymakers should take note that limited red tape, smoothly working labor markets and straightforward processes for changes of legal structures of organizations would improve survival and growth odds for entrepreneurs.Originality/valueDrawing on the theory of institutions, the authors attempt to bridge a gap in the literature by explicitly analyzing the determinants of the legal structure in startups in light of economic freedom. Institutional factors do not work in isolation; therefore, the authors also employ traditional entrepreneur-specific variables that affect the choice of legal structure in addition to the institutional framework.","PeriodicalId":44503,"journal":{"name":"Journal of Entrepreneurship and Public Policy","volume":"1 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2020-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/jepp-10-2019-0087","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41596105","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 : 2020-09-21DOI: 10.1108/JEPP-04-2020-0018
M. Raposo, C. Fernandes, P. Veiga
Purpose - National systems of entrepreneurship (NSE) broadly act as a means of allocating resources driven by the constant search for opportunities at the individual level through the launching of new businesses and firms with such activities, and their results are governed by the specific institutional characteristics of each country. In contrast to the institutional emphasis on innovation systems, in which such institutions establish and regulate actions, institutions are only able to regulate those who act with the results stemming from such individual actions, the core driver of national entrepreneurship systems. Design/methodology/approach - Given the challenges faced by companies and societies in general over mitigating climate change, support for sustainable entrepreneurship is fundamental. However, there has to be any study of the impact of national entrepreneurship systems on sustainability. This research therefore analyses the impact of national entrepreneurship systems on the sustainability of countries. Findings - The authors conclude that those countries deploying higher level national entrepreneurship systems return better results in terms of their sustainability. Originality/value - The authors, thus, seek to contribute towards the academic throughout deepening the knowledge prevailing on the relationship between entrepreneurship and sustainability. The authors also seek to enable managers, entrepreneurs and politicians to grasp how entrepreneurship is a systemic factor, and it is at this level that it may make its greatest contribution to bringing about sustainability.
{"title":"National systems of entrepreneurship: goals of sustainability","authors":"M. Raposo, C. Fernandes, P. Veiga","doi":"10.1108/JEPP-04-2020-0018","DOIUrl":"https://doi.org/10.1108/JEPP-04-2020-0018","url":null,"abstract":"Purpose - National systems of entrepreneurship (NSE) broadly act as a means of allocating resources driven by the constant search for opportunities at the individual level through the launching of new businesses and firms with such activities, and their results are governed by the specific institutional characteristics of each country. In contrast to the institutional emphasis on innovation systems, in which such institutions establish and regulate actions, institutions are only able to regulate those who act with the results stemming from such individual actions, the core driver of national entrepreneurship systems. Design/methodology/approach - Given the challenges faced by companies and societies in general over mitigating climate change, support for sustainable entrepreneurship is fundamental. However, there has to be any study of the impact of national entrepreneurship systems on sustainability. This research therefore analyses the impact of national entrepreneurship systems on the sustainability of countries. Findings - The authors conclude that those countries deploying higher level national entrepreneurship systems return better results in terms of their sustainability. Originality/value - The authors, thus, seek to contribute towards the academic throughout deepening the knowledge prevailing on the relationship between entrepreneurship and sustainability. The authors also seek to enable managers, entrepreneurs and politicians to grasp how entrepreneurship is a systemic factor, and it is at this level that it may make its greatest contribution to bringing about sustainability.","PeriodicalId":44503,"journal":{"name":"Journal of Entrepreneurship and Public Policy","volume":"9 1","pages":"345-364"},"PeriodicalIF":1.9,"publicationDate":"2020-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/JEPP-04-2020-0018","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44764378","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 : 2020-07-28DOI: 10.1108/jepp-12-2019-0095
M. G. Roth, R. Morris
Purpose - This paper assesses the efficacy of the 18 small business development centers (SBDCs) located throughout the state of Pennsylvania during 2013–2016 as a proxy for publicly funded, small business consulting services in general. Design/methodology/approach - The paper compares the sales growth of SBDC clients, as reported in postconsultation surveys, to comparable growth measures for the corresponding business population using one- and two-sample Findings - The results show that respondent clients with existing businesses clearly outperform the broader population following consultation, both in aggregate and when decomposed by region and industry. Research limitations/implications - Although the best available data, the results are tempered by low response rates and self-reporting. Originality/value - The paper empirically demonstrates that SBDC clients experience higher growth in sales and employment following their consultation than the broader business population. The net benefit of such services is, however, impossible to determine.
{"title":"Here I come to save the day? Reassessing the efficacy of small business development centers in the Internet Era","authors":"M. G. Roth, R. Morris","doi":"10.1108/jepp-12-2019-0095","DOIUrl":"https://doi.org/10.1108/jepp-12-2019-0095","url":null,"abstract":"Purpose - This paper assesses the efficacy of the 18 small business development centers (SBDCs) located throughout the state of Pennsylvania during 2013–2016 as a proxy for publicly funded, small business consulting services in general. Design/methodology/approach - The paper compares the sales growth of SBDC clients, as reported in postconsultation surveys, to comparable growth measures for the corresponding business population using one- and two-sample Findings - The results show that respondent clients with existing businesses clearly outperform the broader population following consultation, both in aggregate and when decomposed by region and industry. Research limitations/implications - Although the best available data, the results are tempered by low response rates and self-reporting. Originality/value - The paper empirically demonstrates that SBDC clients experience higher growth in sales and employment following their consultation than the broader business population. The net benefit of such services is, however, impossible to determine.","PeriodicalId":44503,"journal":{"name":"Journal of Entrepreneurship and Public Policy","volume":"9 1","pages":"319-328"},"PeriodicalIF":1.9,"publicationDate":"2020-07-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/jepp-12-2019-0095","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43581599","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 : 2020-07-15DOI: 10.1108/jepp-03-2020-0012
Trey Malone, Antonios M. Koumpias
Purpose - This research note compares voter opinions regarding small business entrepreneurial activity to opinions of small business owners and links any divergence in perceptions to realized suboptimal entrepreneurial growth policy. Design/methodology/approach - Primary data collection via best–worst scaling and estimation of linear regression models. Findings - Results suggest that small business owners are less concerned about issues such as foreign competition, estate/death taxes, oil prices and labor union demands but are more concerned with domestic competition, income taxes, regulatory burdens and availability of credit from lenders. Social implications - The authors find major discrepancies in opinions about trade policy and business financing, which may lead to policy design that hinders entrepreneurship given evidence that politicians do respond to voters' opinions (Autor Originality/value - It represents the first empirical assessment of differences between voter and small business owner perspectives on entrepreneurial policy. An immediate policy implication includes the need to provide additional avenues of communication of entrepreneurs' concerns.
{"title":"Comparing small business owner and voter beliefs regarding constraints on business growth","authors":"Trey Malone, Antonios M. Koumpias","doi":"10.1108/jepp-03-2020-0012","DOIUrl":"https://doi.org/10.1108/jepp-03-2020-0012","url":null,"abstract":"Purpose - This research note compares voter opinions regarding small business entrepreneurial activity to opinions of small business owners and links any divergence in perceptions to realized suboptimal entrepreneurial growth policy. Design/methodology/approach - Primary data collection via best–worst scaling and estimation of linear regression models. Findings - Results suggest that small business owners are less concerned about issues such as foreign competition, estate/death taxes, oil prices and labor union demands but are more concerned with domestic competition, income taxes, regulatory burdens and availability of credit from lenders. Social implications - The authors find major discrepancies in opinions about trade policy and business financing, which may lead to policy design that hinders entrepreneurship given evidence that politicians do respond to voters' opinions (Autor Originality/value - It represents the first empirical assessment of differences between voter and small business owner perspectives on entrepreneurial policy. An immediate policy implication includes the need to provide additional avenues of communication of entrepreneurs' concerns.","PeriodicalId":44503,"journal":{"name":"Journal of Entrepreneurship and Public Policy","volume":"9 1","pages":"329-341"},"PeriodicalIF":1.9,"publicationDate":"2020-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/jepp-03-2020-0012","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47769600","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 : 2020-07-10DOI: 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":" ","pages":""},"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":" ","pages":""},"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":"9 1","pages":"303-317"},"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":"9 1","pages":"149-151"},"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":" ","pages":""},"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":"9 1","pages":"253-275"},"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}
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