Entrepreneurship in Post-Communist Countries

238 Pages·2018·4.116 MB·English

by  Jovo Ateljević, Jelena Budak

Jovo Ateljević · Jelena Budak Editors
Entrepreneurship
in Post-Communist
Countries
New Drivers Towards a Market Economy
Entrepreneurship in Post-Communist Countries
ć (cid:129)
Jovo Ateljevi Jelena Budak
Editors
Entrepreneurship
in Post-Communist Countries
New Drivers Towards a Market Economy
Editors
JovoAteljević JelenaBudak
FacultyofEconomics TheInstituteofEconomics
UniversityofBanjaLuka Zagreb,Croatia
BanjaLuka,BosniaandHerzegovina
ISBN978-3-319-75906-7 ISBN978-3-319-75907-4 (eBook)
https://doi.org/10.1007/978-3-319-75907-4
LibraryofCongressControlNumber:2018941544
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Foreword
Theentrepreneurisatthesametimeoneofthemostintriguingandoneofthemost
elusive characters in the cast that constitutes the subject of economic analysis
(Baumol1968,p.64).
Formarket-orientedeconomies,understandingtheelusivewaysoftheentrepre-
neur is key for fueling sustainable economic growth. The goal is clear but the
challengeliesinthedetails:howtocultivateandsupportinnovativeandjobcreating
entrepreneurshipdevelopment?
This challenge becomes even greater in post-conflict environments such as in
Southeast Europe (SEE) where the political and policy landscape is undergoing
significantchanges.ThereislittledoubtthatintheSEEcountries,entrepreneurship
willplayacriticalroleinrejuvenatingeconomicdevelopmentandgrowth.Already,
a significant share of small and medium-sized enterprises (SMEs) positively con-
tributestoeconomicgrowthintheSEEregion.
It is important to remember that entrepreneurship is conditional: Economically
productiveentrepreneurialventuresonlyemergeandgrowundercertainconditions
that cannot be taken for granted. Developing countries need to reach a certain
development threshold so that entrepreneurship can fully contribute to economic
growth.Andglobally,countriesneedtoensurethattheirinstitutionalenvironments
provide a supportive ecosystem and formal regulatory environment that allows
entrepreneurstofullycontributetoeconomicgrowth.
In order to do this, it is necessary to understand the specific entrepreneurial
context. This book serves that important role for transition countries in Southeast
Europe.
Developing effective institutional arrangements for the governance and support
ofSMEsintheeconomyisachallengesharedbyalltransitioncountries.Thestate
hasanimportantroletoplayinfosteringentrepreneurshipbydevelopingastrategy
for removing obstacles to enterprise creation, for establishing facilitating environ-
ment for private sector development, and for contributing to the development of
appropriate market supportive institutions which are an important part of the busi-
nessenvironment.
v
vi Foreword
The lack of rigorous analysis on key issues affecting entrepreneurs in the SEE
countrieshasinterferedwiththedevelopmentofadeeperunderstandingofthesize
and scope of entrepreneurial activities. This chapter in this book fills this critical
knowledgegapbyprovidinginsightsintokeyareassuchasentrepreneurialbehavior
andintentions,networking,andaccesstotangibleandintangibleresources.
Evenaswegainabetterunderstandingofthecountry-specificcontext,weneedto
alsounderstandthevariationsthatexistwithincountries.Notallentrepreneurshave
the same access toresources, knowledge, and networks needed togrow a business
fromtheinnovativeideatoaprofitableenterprise.Tounleashthefullentrepreneurial
potential of the SEE region, the gender dimension needs to be addressed since
womenentrepreneurshavetraditionallybeenconsidered“lessentrepreneurial”and
havelimitedaccesstotheresources,knowledge,andnetworkstheyneedtosucceed.
By providing both the contextual framework of entrepreneurship in post-
transition SEE countries and a focused look into SME entrepreneurship in the
Balkans, this book gives us a useful roadmap of where we are now and what is
likely tohappen inthefuture.It provides asignificantcontribution totheevidence
baseonentrepreneurshipintheSEEcountrieswithsomeimportantimplicationsfor
policydevelopment.
ScharSchoolofPolicyandGovernment RutaAidis
GeorgeMasonUniversity,Arlington,VA,
USA
Reference
Baumol,W.J.(1968).Entrepreneurshipineconomictheory.AmericanEconomicReview,58(2),
64–71.
Contents
Introductionto“EntrepreneurshipinPost-CommunistCountries:
NewDriversTowardsaMarketEconomy”. . . . . . . . . . . . . . . . . . . . . . 1
JovoAteljevićandJelenaBudak
PartI EntrepreneurshipinPost-TransitionContext
TheInfluenceoftheMotivesofEntrepreneurialActivity
onEconomicGrowthofDevelopingCountriesinSoutheastEurope. . . . 11
SuzanaStefanović,MajaIvanović-Đukić,VinkoLepojević,
andJovoAteljević
FinancialInstrumentsforBoostingEntrepreneurshipinSelected
Post-CommunistEUCountries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
MihaelaGrubišićŠeba
FDIFlowsandRegionalDevelopment:Lessons
forTransitionCountries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47
KurtA.HafnerandJörnKleinert
SourcesofFinancingintheProcessofEnterpriseRestructuring
FocusingonTransitionalCountries. . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
DrаgаnМilоvаnоvić,SašaVučenović,andIgorMišić
DominantMotivesofEntrepreneurialBehaviourinTransitional
Countries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77
BožidarLekovićandSlobodanMarić
TheDistinctivenessofFemaleEntrepreneurshipinPost-Transition
Countries:TheCaseofCentralEuropeandtheBalticStates. . . . . . . . . 99
JelenaPetrovićandSnežanaRadukić
vii
viii Contents
TheLocalEconomicImpactofUniversities:AnInternational
ComparativeAnalysis(FranceandHungary). . . . . . . . . . . . . . . . . . . . . 115
BalázsKotosz,Marie-FranceGaunard-Anderson,andMiklósLukovics
PartII SmallandMedium-SizedEntrepreneurshipintheBalkans
Region
TheImpactofTangibleandIntangibleAssetsontheSMEs’
Success:TheAlbanianCase. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135
YlvijeBoriçiKraja
TheRoleofNetworkingintheCompany’sGrowthProcess. . . . . . . . . . 147
AnamarijaDelić,JuliaPerić,andTihanaKoprivnjak
TheEffectofEUMembershiponPublicProcurement
forSMEsinPost-TransitionCountries. . . . . . . . . . . . . . . . . . . . . . . . . . 163
SunčanaSlijepčević,JelenaBudak,andEdoRajh
TheEffectofMarketLiquidityontheCompanyValue. . . . . . . . . . . . . 183
TajanaSerdarRaković
AssessingEntrepreneurialIntentions,MotivationsandBarriers
AmongstWBCStudentsThroughDevelopingaNetwork
ofCo-CreativeCenters–iDEALabs. . . . . . . . . . . . . . . . . . . . . . . . . . . . 197
PetarVrgović,DanijelaĆirić,andVladimirTodorović
EthicalBehaviorintheContextofManagerialDecisionMaking
andSatisfactionofEmployees:LessonsfromtheExperience
ofthePost-TransitionCountry. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 211
IvanaBulog,DženanKulović,andIvanGrančić
Editors and Contributors
Jovo Ateljević is professor of strategic management at the Faculty of Economics,
University of Banja Luka, Bosnia and Herzegovina, and has research interests in
local/regional development, institutionalframework for entrepreneurship and SME
development, and entrepreneurial behavior in different sociopolitical contexts
including countries in transition. His chapters appear in a number of international
journals including Entrepreneurship and Innovation Management, Europe-Asia
Studies,JournalofEntrepreneurialBehaviourandResearch,JournaloftheBalkan
and Near East Studies, and Tourism Management. Dr Ateljevic has also been
involved in a number of consultancy/research projects related to capacity building
in entrepreneurship, business strategy, and tourism development in a number of
countries.HeisthefounderandchairoftheREDETEconference.Contact:Faculty
of Economics, University of Banja Luka, Majke Jugovića 4, 78000 Banja Luka,
RepublicofSrpska,BosniaandHerzegovina,[email protected]
Jelena Budak is senior research fellow with the Institute of Economics, Zagreb.
ShehadparticipatedinresearchprojectsonvariousaspectsofCroatia’saccessionto
the EU, such as institutional convergence, public sector policies, and regional
development issues. Her research interests are institutions and applied institutional
analysisandsocioeconomicassessmentsoftransition,andhermostrecentpublica-
tionsareineconomicsofcorruptionandprivacyissues.Sheisaleadresearcherof
the PRICON project. Contact: Institute of Economics, Zagreb, Trg J.F. Kennedyja
7,10000Zagreb,Croatia,[email protected]
IvanaBulog worksasassistantprofessorattheFaculty ofEconomics,University
ofSplit,Croatia.Shehaspublished,bothindependentlyandascoauthor,anumber
of scientific papers and books. For the purpose of her personal and professional
development, she participated at numerous national and international conferences,
seminars,andtrainings.Herscientificandprofessionalinterestsarefocusedonthe
areas of managerial decision making, managerial skills, business leadership, and
ix
x EditorsandContributors
familybusinesses.Contact:FacultyofEconomicsUniversityofSplit,Croatiaivana.
[email protected]
Danijela Ćirić is a final year PhD student at the Faculty of Technical Sciences,
University of Novi Sad, at the Department of Industrial Engineering and Manage-
ment with specialization in agile management in innovation projects. She holds an
MSc in economics. Through Erasmus Mundus Programme of European Commis-
sion, she was a scholar and a visiting researcher at the Faculty of Economics,
University of Split, Croatia. Her research fields of interest are agile management,
innovativeprojectmanagementapproaches,innovationmanagement,andentrepre-
neurship. She has been involved in a number of HEI capacity building projects.
Currently,sheisinvolvedinprojectteamof3-yearTEMPUSprojectattheUniver-
sityofNoviSadcallediDEAlabwhichaimstofosterstudententrepreneurshipand
innovation, and she is leading the project management package on the Erasmusþ
KA2 Capacity building project K-FORCE coordinated by the University of Novi
Sad. Contact: Faculty of Technical Sciences, Trg Dositeja Obradovica 6, 21000
NoviSad,RepublicofSerbia.
Anamarija Delić is assistant professor at Josip Juraj Strossmayer University,
Faculty of Economics in Osijek. Her research interests are focused on business
ecosystem,businessmodels,financeforSMEs,andcapitalstructure ofSMEs.She
is a researcher in the project “Development and application of growth potential
prediction models for small and medium enterprises in Croatia,” focused on SME
companies in the manufacturing industry (2014–2018). She is also researcher and
adviserinCEPOR(SMEsandEntrepreneurshipPolicyCentre).Contact:JosipJuraj
StrossmayerUniversity,FacultyofEconomicsinOsijek,Osijek,TrgLjudevitaGaja
7,31000Osijek,Croatia,[email protected]
Marie France Gaunard-Anderson is associate professor at the Department of
Geography, University of Lorraine. She is a member of LOTERR, geographical
researchcenterofLorraine,andthe“UniGR—CenterforBorderStudies.”Shewas
thedirectorofamaster’sdegreeinterritorialplanninganddefense(1997–2009).She
worksasanexpertforlocalandregionalauthorities(e.g.,fortheEconomic,Social
and Environmental Council of Lorraine), above all in territorial planning and
economic development. Her research interests are local and regional development
and cross-border cooperation (analysis of Euroregions development process) in a
comparative approach at the European level. She has been involved in different
European programs (INTERREG IIIC e-Bird “MOSAME” project, TACIS
CBC-ENACT—a project between France, Poland, and Ukraine, INTERREG IVA
Greater Region, etc.). Contact: University of Lorraine, UFR Human Sciences and
Arts, Department of Geography, Ile du Saulcy, 57000 Metz, France. marie-france.
[email protected]
IvanGrančić graduatedattheFacultyofEconomics,UniversityofSplit,Croatia,
onethicalbehaviorofmanagersandemployeesatisfaction.Histhesiswasbasedon