In this paper we explore the ways in which institutions and networks influence entrepreneurial development in Russia. By utilizing new Global Entrepreneurship Monitor (GEM) data collected in 2001, we investigate the effects of the weak institutional environment in Russia in terms of three dimensions: on the rate of productive entrepreneurial activity measured in terms of start-ups and existing ...

We explore the relation between international financial integration and the level of entrepreneurial activity in a country. Researchers have stressed the role of new firm activity and economic dynamism on growth. Yet, the empirical effects of international capital mobility on entrepreneurial activity have received little attention in the literature albeit the ambiguous theoretical predictions a...

This paper compares the financing of new ventures in start-ups (entrepreneurship) and in established firms (intrapreneurship). Intrapreneurship allows established firms to use information on failed intrapreneurs to redeploy them into other jobs. Instead, failed entrepreneurs must seek other jobs in an imperfectly informed external labor market. While this is ex-post inefficient, it provides ent...

What drives entrepreneurial activity among knowledge workers? Are stars more likely to become entrepreneurs? Analysis of entrepreneurial efforts from a panel data set of equity research analysts in investment banks over 1988-1996 (9,531 analyst-year combinations representing 2,602 individual analysts from 24 firms) reveals that (a) star knowledge workers are more likely than their non-star coun...

No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system. By drawing on two unique data sets – the Forum's Global Competitiveness Index and Global Entrepreneurship Monitor's assessment of entrepreneurial activity – the report takes a nuanced stance on the prevalence and type...

Empirical evidence shows that entrepreneurs hold a large fraction of wealth, have higher saving rates than workers, and face substantial uninsurable entrepreneurial and investment risks. This paper constructs a heterogeneous-agent general equilibrium model with uninsurable entrepreneurial risk and capital-market imperfections to explore the implications of uninsurable entrepreneurial risk for w...

The aim of the paper is to investigate to what extent access to finance explains differences in entrepreneurial activity across European Union (EU) member countries. We use a dataset containing information across countries and time to investigate the determinants of entrepreneurial activity in twenty-five EU members over the period between 2007 and 2013. Our sample comprises both periods of dif...

This article focuses on entrepreneurship in economic geography and aims at a systematic investigation of regional variation in knowledge-based entrepreneurial activity. We develop and test a three-phase structural model for regional systems of entrepreneurship after introducing a systems approach to entrepreneurship. The model is built upon the absorptive capacity theory of knowledge spillover ...

The spatial activity patterns of firms in a multi-regional system are closely connected with the structure and evolution of regional labour markets. Based on an extensive data set (cross-section) on commuting flows in Germany, this paper aims to identify the relationship between entrepreneurial activity and spatial labour markets, by employing in particular the concept of ‘entrepreneurial city’...