Entrepreneurship and Its Economic Significance, Behavior and Effects

261 Pages·2009·7.735 MB·English

by  Maria V. Bradshaw, Patricia T. Carrington

E I
NTREPRENEURSHIP AND TS
E S ,
CONOMIC IGNIFICANCE
BEHAVIOR AND EFFECTS

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E I
NTREPRENEURSHIP AND TS
E S ,
CONOMIC IGNIFICANCE
BEHAVIOR AND EFFECTS

MARIA V. BRADSHAW
AND
PATRICIA T. CARRINGTON
EDITORS

Nova Science Publishers, Inc.
New York
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LIBRARY OF CONGRESS CATALOGING-IN-PUBLICATION DATA

Bradshaw, Maria V.
Entrepreneurship and its economic significance, behavior and effects / Maria V. Bradshaw and
Patricia T. Carrington.
p. cm.
Includes index.
ISBN 978-1-60876-567-6 (E-Book)
1. Entrepreneurship. 2. Economic development. I. Carrington, Patricia T. II. Title.
HB615.E6267 2009
338'.04--dc22
2008052099

Published by Nova Science Publishers, Inc. (cid:30)  New York
CONTENTS

Preface vii
Chapter 1 Family Matters: Differences in Having Self-Employed Parents
between Black and White Entrepreneurs 1
Robert P. Singh,, Micah E. S. Crump and Xingxing Zu
Chapter 2 A Comparative Study of Entrepreneurial Attitudes
and Attributes of Turkish and Kyrgyz Entrepreneurs 21
Mehmet Turan, Seil Nazhimudinova and Ali Kara
Chapter 3 Entrepreneurship Policies: A Multiple Case Study in a Highly
Entrepreneurial Spanish Region 41
Nuria Toledano, David Urbano, and Alex Rialp
Chapter 4 Strategic Entrepreneurship: Integration Support Journals 55
Teresa García-Merino and Valle Santos-Álvarez
Chapter 5 Nascence to Newness: The Influence of Internal and External
Factors on the Likelihood of First Sale 69
Linda F. Edelman, Tatiana S. Manolova and Candida G. Brush
Chapter 6 Time and Risk Entrepreneurial Characteristics of Growth:
The Case of Persistent Light Industrial Prototypes 95
P. E. Petrakis
Chapter 7 Business Incubators and the Emergence of the Entrepreneurial
University: Lessons learned from Portugal 113
João Paulo Coelho Marques
Chapter 8 Sources of Information in International Entrepreneurship Process 133
Valle Santos Álvarez and Teresa García Merino
Chapter 9 Entrepreneurial Innovation, Economic Growth and the Stigma
of Failure 147
Patricia Crifo and Hind Sami
vi Maria V. Bradshaw and Patricia T. Carrington
Chapter 10 Is Entrepreneurship the Salvation for Enhanced Economic
Growth? A Review of the Empirical Evidence of the Effect
of Entrepreneurship on Employment, Productivity
and Economic Growth 163
Kristina Nyström
Chapter 11 Internationalization as an Act of Entrepreneurship: Economic
Effects and Examples 179
Arild Aspelund and Mathieu Cabrol
Chapter 12 Entrepreneurship and Economic Policy Objectives 193
Miguel-Ángel Galindo Martin and María Teresa Mendez Picazo
Chapter 13 Innovation Policies and VC Management to Support
Entrepreneurial Financing 205
Jarunee Wonglimpiyarat
Short Communication
From Entrepreneur to Manager: A Brief Consideration
of Economic Transition 223
Scott A. Beaulier,, Joshua C. Hall, and William S. Mounts
Index 233
PREFACE

Entrepreneurship is the practice of starting new organizations or revitalizing mature
organizations, particularly new businesses generally in response to identified opportunities.
Entrepreneurship is often a difficult undertaking, as a vast majority of new businesses fail.
Entrepreneurial activities are substantially different depending on the type of organization
that is being started. Entrepreneurship ranges in scale from solo projects (even involving the
entrepreneur only part-time) to major undertakings creating many job opportunities. Many
"high-profile" entrepreneurial ventures seek venture capital or angel funding in order to raise
capital to build the business. Angel investors generally seek returns of 20-30% and more
extensive involvement in the business. Many kinds of organizations now exist to support
would-be entrepreneurs, including specialized government agencies, business incubators,
science parks, and some NGOs.This new book presents the latest thinking in this vibrant and
essential area.
Chapter 1 - The rate of black entrepreneurship has lagged the national average for
decades. Rather than look at financial factors, as most of the literature that has explored the
disparity has done, we examine the importance of having self-employed parents and
differences in the family structures of black and white Americans. We conducted chi-square
tests and logistic regression analyses on General Social Survey data collected from 1972-2004,
and found significant differences between black and white entrepreneurs. This paper discusses
the implications of our results, offers new insights into the lagging rate of black
entrepreneurship, and discusses future directions for research.
Chapter 2 - There is little knowledge available about entrepreneurship in transition
economies of Central Asia in comparison to the advanced economies where significantly
more research information is available about entrepreneurs and entrepreneurial process.
Despite the lack of information about entrepreneurs and entrepreneurship process in transition
economies, especially about former Soviet Republic countries, it is recognized that the
effective practice of entrepreneurship is highly correlated with a successful transition from a
planned economy to a market based economy. On the other hand, although there might be
cultural similarities between Turkish and Kyrgyz entrepreneurs due to historic Turkic ties
between the two countries, significant differences exists between the two countries in terms of
economic approach and policies adopted. Turkey has adopted market based economic policies
right after WWII and has experienced much longer period of rapid economic growth compare
to Kyrgyzstan. As a result, Turkey offers a more positive and mature environment for new
enterprise development.
viii Maria V. Bradshaw and Patricia T. Carrington
Accordingly, a comparative study of the entrepreneurial attitudes and attributes in these
two countries that have historically common roots and tradition but have followed totally
different economic paths should prove to provide valuable insights to the researchers and
policy makers alike. Through an empirical study of Turkish and Kyrgyz entrepreneurs in
different sectors, this study explores the characteristics and attributes of Turkish and Kyrgyz
entrepreneurs and their attitudes towards entrepreneurship and the entrepreneurial process.
We also explore the motives, challenges encountered, and demographic attributes of Turkish
and Kyrgyz entrepreneurs. Data for the study is collected in both countries using a developed
questionnaire translated in both languages. A total of 203 usable questionnaires are collected
from Turkish entrepreneurs and a total of 100 questionnaires are collected from Kyrgyz
entrepreneurs. Our findings indicate significant differences between Turkish and Kyrgyz
entrepreneurs in terms of their profiles, attitudes, motivations, and environmental conditions
of entrepreneurship.
Chapter 3 - It is generally accepted the importance of entrepreneurship and SMEs to the
contribution of economic growth and social development. Consequently, over the last decade,
entrepreneurship has been a subject of growing interest by governments of all political
ideologies, who have implemented different programmes to promote the creation of new
firms. Similarly, academics have increasingly focused on these topics, analyzing the
entrepreneurship policies in different contexts. In this research, the role of entrepreneurship
policies and support programmes in the promotion of local development through new firm
creation is analyzed. The study is developed in Catalonia, one of the most entrepreneurial
regions of Spain, through a multiple case study methodology under the light of Institutional
Economics as a theoretical framework. The main findings of the research show that despite
the relevance of programmes and policies concerning new firm formation, one of the most
important factors for business creation as well as for local development are the socio-cultural
ones.
Chapter 4 - Strategic management and entrepreneurship are two research fields in which
significant progress has been made. The field of strategic management has already reached a
level of maturity whilst the field of entrepreneurship continues to develop. Both have thus
generated a vast amount of literature, with some papers being published in a group of
influential journals. Authors such as Boyd et al. (2005) for strategic management and Fried
(2003) or Linton (2006) for entrepreneurship have attempted to highlight the most widely
recognized journals.
Over the last decade some authors (Evans and Wurster, 1999; McGrath and MacMillan,
2000; Hitt et al., 2001, 2002; Ireland et al., 2001, 2003) have proposed merging the theory
and research of both disciplines, leading to the emergence of the strategic entrepreneurship
(SE) construct. Despite certain initial disagreements (Shane and Venkataraman, 2000),
complementarities between the two fields seem to strongly support the idea of integration.
Further, the publication of the Strategic Entrepreneurship Journal (an official journal of the
Strategic Management Society) in 2007 heralded a significant milestone.
However, the question arises as to which journals have thus far contributed to sustaining
this integration, what support each has provided in the merging process, which can be
considered a reference for current and future research in strategic entrepreneurship, and
finally what level of recognition cited journals have reached in recent years. Using the Scopus
database (from Elsevier) and the Web of Science and Journal Citation Reports in ISI Web of