Subjects -> BUSINESS AND ECONOMICS (Total: 3619 journals)
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MICROECONOMICS (23 journals)

Showing 1 - 23 of 23 Journals sorted alphabetically
American Economic Journal : Microeconomics     Full-text available via subscription   (Followers: 83)
Contabilidad y Negocios     Open Access   (Followers: 2)
Entrepreneurship and Innovation Management Journal     Open Access   (Followers: 25)
Entrepreneurship Education     Hybrid Journal  
Entrepreneurship Research Journal     Hybrid Journal   (Followers: 16)
Family Business Review     Hybrid Journal   (Followers: 20)
Handbook of Population and Family Economics     Full-text available via subscription   (Followers: 5)
International Journal of Entrepreneurship     Full-text available via subscription   (Followers: 16)
International Journal of Entrepreneurship and Small Business     Hybrid Journal   (Followers: 32)
International Journal of Globalisation and Small Business     Hybrid Journal   (Followers: 14)
Journal of Entrepreneurship Education     Full-text available via subscription   (Followers: 6)
Journal of Family and Economic Issues     Hybrid Journal   (Followers: 4)
Journal of Family Business Strategy     Hybrid Journal   (Followers: 6)
Journal of Innovation and Entrepreneurship     Open Access   (Followers: 7)
Journal of Management Analytics     Hybrid Journal   (Followers: 1)
KCA Journal of Business Management     Open Access  
Local Economy     Hybrid Journal   (Followers: 9)
Professions and Professionalism     Open Access   (Followers: 9)
Review of Economic Studies     Hybrid Journal   (Followers: 202)
Small Business Economics     Hybrid Journal   (Followers: 12)
Small Enterprise Research     Hybrid Journal   (Followers: 3)
Small Group Research     Hybrid Journal   (Followers: 7)
Universal Journal of Industrial and Business Management     Open Access   (Followers: 2)
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Small Business Economics
Journal Prestige (SJR): 1.937
Citation Impact (citeScore): 4
Number of Followers: 12  
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 1573-0913 - ISSN (Online) 0921-898X
Published by Springer-Verlag Homepage  [2626 journals]
  • Correction to: Digital girl: cyberfeminism and the emancipatory potential
           of digital entrepreneurship in emerging economies
    • Abstract: The original version of this article unfortunately contained a mistake. The co-author's name Caren Crowley and Richard T. Harrison were missing in the published paper.
      PubDate: 2020-12-01
  • Capital structure, debt maturity, and financial crisis: empirical evidence
           from SMEs
    • Abstract: Based on a unique dataset of Italian small- and medium-sized enterprises (SMEs) over the 2006–2016 period, we investigate how the recent global financial crisis impacted SMEs’ capital structure decisions and their determinants. Our results show that credit supply shocks negatively impacted Italian SMEs’ leverage. During and after the crisis, Italian SMEs significantly decreased their leverage, particularly their short-term debt exposure, relative to the pre-crisis period. As a result, the short-term debt channel is more sensitive to credit conditions than the long-term debt channel. Interestingly, we also show that trade credit does not compensate for the reduction in bank credit. Finally, our findings reveal that riskier and more profitable firms reduced their leverage more during the crisis than during the pre-crisis period. Implications for firms and policymakers are discussed.
      PubDate: 2020-12-01
  • Gender and bank lending after the global financial crisis: are women
           entrepreneurs safer bets'
    • Abstract: Using gender as a theoretical framework, we analyse the dynamics of bank lending to small- and medium-sized enterprises (SME) in the aftermath of the 2008 global financial crisis. Using six waves of the SME Finance Monitor survey, we apply a formal Oaxaca–Blinder decomposition to test whether gender impacts upon the supply and demand for debt finance by women. Reflecting established evidence, we found women had a lower demand for bank loans; contradicting accepted wisdom however, we found that women who did apply were more likely to be successful. We argue that feminised risk aversion might inform more conservative applications during a period of financial uncertainty which may be beneficial for women in terms of gaining loans. However, we also uncover more subtle evidence suggesting that bank decisions may differ for women who may be unfairly treated in terms of collateral but regarded more positively when holding large cash balances.
      PubDate: 2020-12-01
  • Microfirms and innovation in the service sector
    • Abstract: In the context of microfirms, this paper analyzes whether the link between the three aspects involving innovative activities—R&D, innovative output, and productivity—hold for knowledge-intensive services. With especially high start-up rates and the majority of employees in microfirms, knowledge-intensive services (KIS) have a starkly different profile from manufacturing. Results from our structural models indicate that KIS firms benefit from innovation activities through increased labor productivity with highly skilled employees being similarly important compared to R&D for creating innovation output in microfirms. Moreover, the firm size advantage of large firms found for manufacturing almost disappears in KIS, with start-ups and young firms having a higher probability of initiating innovation activities and of successfully turning knowledge into innovation output than mature firms.
      PubDate: 2020-12-01
  • Does organizational structure facilitate inbound and outbound open
           innovation in SMEs'
    • Abstract: Based on the evolutionary theory of the firm, this paper examines how traditional variables that describe a firm’s organizational structure—formalization, specialization, and centralization—affect the adoption of inbound and outbound open innovation. Using a cross-sectional survey of Chinese small and medium enterprises, our study shows that organizational structure matters for open innovation and that formalization, specialization, and centralization have diverse effects on the OI practices implemented by SMEs. Results indicate that specialization and centralization have a critical role in open innovation practices as they both foster the use of inbound and outbound open innovation. Formalization negatively affects outbound, but it is positively associated with inbound open innovation.
      PubDate: 2020-12-01
  • Gender, formality, and entrepreneurial success
    • Abstract: In this paper, we address two entrepreneurship puzzles prevailing in developing countries. First, field experiments on business training programs and grants have shown that it is much more difficult to improve business outcomes for female entrepreneurs than for their male counterparts. Second, empirical studies have revealed that it is difficult to increase entrepreneurial performance in the informal sector. We argue that an extended version of the entrepreneurship model in Lucas (Bell Journal of Economics, 9, 508–523, Lucas 1978) can provide insights into these recurrent puzzles. In particular, if female entrepreneurs are time constrained, interventions that only target business ability and credit constraints may not be sufficient to raise the entrepreneurial outcomes of female entrepreneurs. In addition, if informal entrepreneurs face business constraints in terms of both their access to credit and entrepreneurial ability, interventions that target these constraints together can have a potentially greater impact than those that target either in isolation. We support our theoretical predictions using data from a field experiment with microfinance clients, conducted in Tanzania.
      PubDate: 2020-12-01
  • Globalization and firm growth: does ownership matter'
    • Abstract: This study explores the determinants of firm growth in China. In this era of liberalization and globalization, investigating how firms’ size, age, exports, and foreign ownership jointly influence firm growth is essential. Based on a nationally representative firm-level panel dataset for the 2001–2007 period, our results reveal that exporters and foreign-owned enterprises (FOEs) exhibit higher growth rates than their respective counterparts. Crucially, small exporters experience higher growth than larger exporters, whereas large FOEs grow faster than their smaller counterparts. The role of export premiums in enhancing growth is observed for firms of all sizes and age groups, and the positive influence of foreign ownership on growth is only evident for small, medium, and young firms. Finally, we find that domestic firms, particularly small and young local firms, enjoy a larger export premium than FOEs.
      PubDate: 2020-12-01
  • Liquidity constraints, spillovers, and entrepreneurship: evidence from a
           cash transfer program
    • Abstract: This paper exploits a liquidity shock from a welfare program in Brazil to investigate the role of financial constraints, in opposition to general equilibrium mechanisms, in explaining entrepreneurship. Previous research focuses exclusively on how liquidity changes recipients’ behavior through direct effects on reducing constraints. However, liquidity shocks may also produce spillovers from recipients to others and thereby indirectly affect entrepreneurial decisions. This paper presents a method for decomposing the liquidity shock into direct effects associated with relieving individual constraints, and indirect effects associated with spillovers to other individuals. Results suggest that the program, which assists 20 percent of Brazilian households, increased the number of small entrepreneurs by 10 percent. However, this increase is entirely driven by the indirect effect. Further tests suggest that this effect is associated with an increase in private transfers between households. Thus, entrepreneurship tends to respond more to the interaction between households than to financial constraints.
      PubDate: 2020-12-01
  • I will sleep when I am dead' Sleep and self-employment
    • Abstract: Anecdotal evidence suggests that entrepreneurs report fewer hours of sleep. However, in samples of 12,086 individuals in the 2012 and 2014 cross-sections of The Behavioral Risk Factor Surveillance System (BRFSS), and 47,851 individuals in the 2013–2016 National Health Interview Sample cross-sections, our results indicate that self-employed individuals report more sleep. The results in these two samples further show that psychological distress mediates the relationship between self-employment and lower self-reported sleep time and poorer sleep quality. In the third sample of 7714 individuals in waves 1 and 4 of the UK Household Longitudinal Survey, self-employed individuals reporting increase in sleep from wave 1 to wave 4 also reported a very small increase in monthly gross income, indicating limited, if any, gains to income from increasing sleep hours.
      PubDate: 2020-12-01
  • Entry into self-employment and individuals’ risk-taking propensities
    • Abstract: Most of the existing empirical literature on self-employment decisions assumes that individuals’ risk-taking propensities are stable over time. We allow for endogeneity on both sides when examining the relationship between individual risk-taking propensities and entry into self-employment. We confirm that a greater risk-taking propensity is associated with a higher probability of entering self-employment. However, we also find evidence that entering self-employment is associated with a significant and substantial increase in an individual’s propensity to take risks. Our findings add to the growing evidence that risk-taking propensities are not only inborn, but also determined by environmental factors.
      PubDate: 2020-12-01
  • Same bed different dream composition of IPO shares and withdrawal
           decisions in weak market conditions
    • Abstract: The aim of this paper is to investigate the relationship between the IPO withdrawal decision and the number of secondary shares during the weak stock market conditions. Our results suggest that the withdrawal decision is determined by who plans to sell their shares at the IPO. The findings are as follows. The secondary shares of VCs are positively correlated with an IPO withdrawal decision. The secondary shares of CEOs are only correlated when the CEOs retained ownership is low, and not when CEOs retained ownership is high. These results imply that the VC profit maximization behavior is a key variable in determining IPO withdrawal.
      PubDate: 2020-12-01
  • Initial coin offerings (ICOs): market cycles and relationship with bitcoin
           and ether
    • Abstract: We apply a vector autoregression (VAR) model to investigate the market cycles of Initial Coin Offerings (ICOs) as well as their relationships with bitcoin and ether. Our sample covers 104 weekly observations between January 2017 and December 2018. Our results show that ICO market cycles exist and that shocks to the growth rates of ICO volumes are persistent. In addition, shocks in cryptocurrency returns have a substantial and positive effect on ICO volumes. In contrast, the volatility of cryptocurrency returns does not significantly affect ICO volumes. Our results are robust to using (i) the number of successfully completed ICO campaigns instead of ICO volumes and (ii) ICO data from a different data source. Our study has implications for financial practice, in particular for cryptocurrency investors and entrepreneurial firms conducting ICOs.
      PubDate: 2020-12-01
  • Small firms and bank financing in bad times
    • Abstract: This paper aims to analyze access to bank financing by small firms belonging to business groups compared to independent firms. We consider Italian manufacturing firms during the severe credit-crunch during 2010–2012 caused by the financial crisis and subsequent domestic recession. We expect belonging to a business group to facilitate access to bank financing as the result of two different mechanisms: (i) the implicit guarantee provided by group belonging (affiliation effect) and (ii) the transfer of resources via the internal capital market (portfolio effect). The empirical evidence confirms our hypotheses. Belonging to a business group facilitates access to bank financing, while the presence of an internal capital market, which substitutes for both the decision to obtain bank financing and the amount borrowed, makes firms that are part of a business group less dependent than independent firms on this type of financing.
      PubDate: 2020-12-01
  • Determinants of graduates’ entrepreneurial activity
    • Abstract: Despite the depth and breadth of the existing literature on university entrepreneurship, research has focused almost exclusively on licensing patents and founding spin-offs by faculty and staff. In comparison, much less evidence has been produced on start-ups created by students and graduates, mainly due to a lack of comprehensive data. This paper evaluates the impact of education—academic subject and foreign education experience—on the creation of firms by university graduates. In terms of the academic subject, the focus is on the distinction between science, technology, engineering, and math (STEM) fields and non-STEM fields. With respect to foreign education experience, the focus is on graduates’ experience studying outside their home country. Our analysis extends the scope of existing research in two ways. First, we consider the entire education history of graduates, not just from the researched university. Second, the paper extends the traditional focus on international students and analyzes the foreign education experience of both domestic and international students. The results indicate a positive relationship between having a non-STEM degree and entrepreneurial activity. A combination of STEM and non-STEM degrees is also positively related to the entrepreneurial propensity of graduates. Students with foreign education experience are significantly more likely to become entrepreneurs than those without such experience. Many governments focus their policy on attracting and retaining foreign students, especially those with degrees in STEM fields. Our results suggest that it is more important for a government to focus on both foreign-born students and domestic students who have foreign study experience.
      PubDate: 2020-12-01
  • A model of credit constraint for MSMEs in India
    • Abstract: This study examines credit constraints using standard models in the highly constrained micro, small, and medium enterprises (MSMEs) sector in India. The mixed results may not be reflective of MSMEs in India, as the standard models have been developed for much larger firms in western markets having lower information asymmetry than Indian firms. These models are biased toward long-term financing due to the ready availability of short-term credit in western markets, as against limited access to working capital to MSMEs in India. We propose an augmented model of investment sensitivity based on the framework of the Fazzari and Petersen model and Carpenter and Petersen model that includes the often-neglected role of working capital as both a use and a source of funds, and gross fixed asset formation and leverage as drivers of credit constraints, for the information asymmetric MSME firms. The paper finds the augmented model, also called the Financing Deficit Model, robust for ascertaining credit constraints of Indian MSME firms and its variables consistent with available literature.
      PubDate: 2020-12-01
  • Analysing the links between cooperative principles, entrepreneurial
           orientation and performance
    • Abstract: Cooperatives are enterprises characterised by certain principles, such as cooperation, democratic decision-making, and training that define their entrepreneurial behaviours. Several of these cooperative principles appear to exert a positive influence on the performance of these firms and on the three dimensions that define the entrepreneurial orientation of companies: proactiveness, innovativeness, and risk-taking. This study builds a theoretical model that relates cooperative principles, entrepreneurial orientation, and performance from the perspective of corporate governance and human resource management practices, in order to study the links that may exist between these elements. Using data from a survey on 155 worker cooperatives in the Basque Country (Spain) and applying the partial least squares technique, we find that cooperative principles positively affect the performance of cooperatives, both directly and via entrepreneurial orientation.
      PubDate: 2020-12-01
  • Firm formation and survival in the shale boom
    • Abstract: We examine the geographical and temporal effects of the technological changes that led to the U.S. shale oil and gas boom. We assess changes in U.S. county rates of entrepreneurship and survival rates of existing businesses across different industries in response to the innovations that led to energy development in counties with shale resources. We employ a panel difference-in-differences approach and rely on the geological determination of the location of shale resources and the unexpected innovation in shale extraction as our source of exogeneity. We find that temporal impacts obscure effects that would look small if we only examined average effects. Namely, new firm formation and sales initially decrease in boom regions, followed by a positive trend after the initial disruption. While new firm formation eventually recovers after many years, the overall impact on business dynamism is negative, suggesting that the areas most affected by this technological change may not benefit.
      PubDate: 2020-12-01
  • Disentangling succession and entrepreneurship gender gaps: gender norms,
           culture, and family
    • Abstract: This study adapts a multi-level view of culture, including society- and family-based gender norms and the family embeddedness perspective, to predict the career status of a sample of 2897 young Europeans (aged 18–35) from 11 countries, with at least one self-employed parent. We find that gender identity is associated with career status such that a woman is more likely than a man to be an employee vs. a successor to a family firm but no less likely to be a founder as compared with either being an employee or successor. However, certain family and society-level culture variables combined with gender identity reverse these trends. A woman with caring responsibilities is more likely to be a successor than either a founder or employee. Also, while two-way interaction effects for traditional gender norms and having a self-employed mother are weak or not significant, the study finds that in combination, a woman reporting both traditional gender norms and having a self-employed mother is more likely to be a successor than being either an employee or a founder, reversing gender identity main effects. Incorporating the family embeddedness perspective and the role of culture in occupational choice, we develop a better view of the gender gap in entrepreneurship, finding that the family may serve as a stronger influence than society when implied norms of these two levels of culture clash. By examining actual rather than intended career choice, we also contribute to the occupational choice literature on youth employment.
      PubDate: 2020-11-21
  • Women entrepreneurs’ progress in the venturing process: the impact of
           risk aversion and culture
    • Abstract: We explore the gendered impact of risk aversion and country-level culture on nascent student entrepreneurs’ progress in the venturing process. Combining country-level cultural normative variables from the 2004 Global Leadership and Organizational Behavior Effectiveness (GLOBE) survey with data from the 2013/2014 Global University Entrepreneurial Student Spirit Study (GUESSS), our sample consists of 1552 nascent student entrepreneurs from 11 countries. We start with the assumption that perceptions of risk-taking behaviors are not gendered. We then split our sample, finding that, for women, perceptions of risk-taking behaviors are associated with less progress in the venturing process; however, starting a new venture in a socially supportive culture moderates that relationship. For men, neither risk-taking behavior nor country cultural variables are related to their progress in the venturing process. Our study highlights both the importance of country-level contextual variables in entrepreneurship and the need to employ a gendered perspective when studying nascent entrepreneurship.
      PubDate: 2020-11-21
  • Initial external knowledge sources and start-up growth
    • Abstract: We investigate whether the presence of outside members in the board or buying ad hoc professional advisory services fuel short-term start-up growth. Furthermore, how the founding team’s initial knowledge stock as well as environmental uncertainty affect this relationship is examined. Our results only suggest a positive association between professional advisory services and start-up growth, which seem to suggest that the presence of an outside board member does not affect short-term start-up growth. We also find that the relationship between professional advisory services and growth is more pronounced when previous relevant industry expertise of the founding team is lower and technological opportunities in the environment are larger. Our findings advance understanding of the determinants of short-term start-up growth and are of practical relevance to entrepreneurs and policymakers.
      PubDate: 2020-11-17
School of Mathematical and Computer Sciences
Heriot-Watt University
Edinburgh, EH14 4AS, UK
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