Does religion influence entrepreneurial behaviour?

Religion cannot be ignored in assessing the range of cultural and institutional influences that impact on entrepreneurial activity. This article integrates key themes from sociology of religion in the context of emerging ideas about religion and entrepreneurship in order to highlight key research questions. New institutional theory is discussed as a potentially useful lens for viewing the range of means through which religious expression and institutions might support entrepreneurship. A macro-level empirical investigation of societal indicators of religious affiliation and regulation of religion alongside Global Entrepreneurship Monitor data highlights particular data correlations and mediating influences. A significant association between entrepreneurial activity and evangelical or Pentecostal Christian religious affiliation is found, along with evidence that the impact of religion on entrepreneurship is mediated through pluralism and regulation. In discussing these findings further, the article proposes a more integrated conceptual framework for understanding the link between religious drivers and entrepreneurship, alongside institutional mediation. This forms the basis for further research, focusing on individual experience rather than aggregate associations and exploring in further depth of the mediating impact of institutional arrangements

What Makes Entrepreneurs Happy? Determinants of Satisfaction Among Founders

This study empirically investigates factors influencing satisfaction levels of founders of new ventures, using a representative sample of 1,107 Dutch founders. We relate entrepreneurial satisfaction (with income, psychological burden and leisure time) to firm performance, motivation and human capital. Founders with high levels of specific human capital are more satisfied with income than those with high levels of general human capital. Intrinsic motivation and that of combining responsibilities lowers stress and leads to more satisfaction with leisure time. Women are more satisfied with their income than men, even though they have a lower average monthly turnover

The evolution and adoption of equity crowdfunding: entrepreneur and investor entry into a new market

Equity crowdfunding (ECF) offers entrepreneurs an online social media marketplace where they can access numerous potential investors who, in exchange for an ownership stake, may supply them with finance. In this paper, we describe the evolution of this market in the UK. Using an inductive qualitative longitudinal research design, we analyse the emerging views of entrepreneurs and investors towards ECF. Our interviewees include large and small-scale investors, as well as market participants who have chosen not to invest or raise funds via ECF. We find that the large financial flows to entrepreneurs in the UK via the ECF platforms, nearly half a billion GBP since 2011, have probably been largely incremental to traditional sources of early stage entrepreneurial finance. Moreover, our research indicates that for the most part, investors appear to understand and appropriately evaluate the risks that they are bearing; ECF investments are perceived as a high risk, high return component within individuals’ portfolios. Investors also use their communication with peers and entrepreneurs via the ECF platform as a learning tool. On the entrepreneurs’ side, ECF allows them to test their products, to develop their brand, to build a loyal customer base and to turn customers into investors. We conclude that policymakers, with the support of a locally appropriate regulatory framework, could support equity crowdfunding as one of the market choices available for entrepreneurs looking to start or grow their ventures

Product–process matrix and complementarity approach

The relationship between different types of innovation is analysed from three different approaches. On the one hand, the distinctive view assumes that the determinants of each type of innovation are different and therefore there is no relationship between them. On the other hand, the integrative view considers that the different types of innovation are complementary. Finally, the product–process matrix framework suggests that the relationship between product innovation and process innovation is substitutive. Using data from Spain belonging to the Technological Innovation Panel (PITEC) for the years 2008, 2009, 2010, 2011 and 2012, we tested which of the three approaches is predominant. To perform the hypothesis test, we used the so-called complementarity approach. We find that there is no unique relation. The nature of the relationship depends on the types of innovation that interact. Our most significant finding is that the relationship between product innovation and process innovation is complementary. This finding contradicts the proposal of the product–process matrix framework. Consequently, the joint implementation of both types of innovation generates a greater impact on the performance of a company than the sum of their separate implementation

A Multidimensional, Comparative Analysis of the Regional Entrepreneurship Performance in the Central and Eastern European EU Member Countries

Entrepreneurship research has changed considerably over the last 30 years, and today entrepreneurship is widely accepted as a major driving force of economic development, of the creation of employment and of innovation (Acs et al. 2008, 2009; Carree and Thurik 2003; Braunerhjelm et al. 2010; Lazear 2004). However, the dynamics of the effect of entrepreneurship are very diverse and depend on many factors such as the development level of the home country and the institutional context (Acs et al. 2008). Whilst previous studies on entrepreneurship have focused on examining the role of entrepreneurial activity and start-up rates, recent research has shown that not all entrepreneurial activity is effective. High growth rates, such as those achieved by innovative gazelle companies, are responsible for the bulk of new job creation and growth, whilst other non-innovative or traditional businesses have only minor economic influence (Acs and Mueller 2008; Baumol 1996; Wong et al. 2005)

The entrepreneurial ladder, gender, and regional development

Gender differences at five levels of entrepreneurial engagement are explained using country effects while controlling for individual-level variables. We distinguish between individuals who have never considered starting up a business, those who are thinking about it, and nascent, young, and established entrepreneurs. We use a large international dataset that includes respondents from 32 European countries, three Asian countries, and the United States. Findings show that cross-country gender differences are largest in the first and final transitions of the entrepreneurial process. In par

Entrepreneurship, export orientation and economic growth

In this paper the relationship between a country’s prevalence of new ventures and its rate of economic growth is investigated, while taking into account new ventures’ export orientation. It is generally acknowledged that new venture creation as well as export activity may both be important strategies for achieving national economic growth. However, to our knowledge no attempt has been made to investigate empirically the role of export-driven new ventures in economic growth. We focus on the national level and use data for a sample of 34 countries over the period 2002–2008. Our results suggest that, on top of a positive relation between entrepreneurial activity in general and subsequent macroeconomic growth, there is an additional positive effect of export-oriented early-stage entrepreneurship in higher-income countries. However, there is no such additional effect in lower-income countries