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Financing, Regulatory Costs and Entrepreneurial Propensity

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  • Yuen-Ping Ho

    ()

  • Poh-Kam Wong

Abstract

In this paper, we compared the availability of different types of financing sources to address the issue of capital availability to entrepreneurial propensity and we scrutinise the influence of business costs by utilising a new composite index using data from the World Bank’s Doing Business Database. The availability of three types of financing sources was analysed: traditional debt financing, venture capital financing, and informal investments. The study’s findings show that only informal investments have statistically significant influence on entrepreneurial propensity. Regulatory business costs were found to deter opportunity driven entrepreneurship, but had no impact on necessity entrepreneurship. Copyright Springer Science+Business Media, LLC 2007

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Bibliographic Info

Article provided by Springer in its journal Small Business Economics.

Volume (Year): 28 (2007)
Issue (Month): 2 (March)
Pages: 187-204

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Handle: RePEc:kap:sbusec:v:28:y:2007:i:2:p:187-204

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Web page: http://www.springerlink.com/link.asp?id=100338

Related research

Keywords: business cost; entrepreneurial activity; financing; informal investment; venture capital; G24; L26; M13;

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References

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  1. Klapper, Leora & Laeven, Luc & Rajan, Raghuram, 2004. "Business environment and firm entry : Evidence from international data," Policy Research Working Paper Series 3232, The World Bank.
  2. Mihir Desai & Paul Gompers & Josh Lerner, 2003. "Institutions, Capital Constraints and Entrepreneurial Firm Dynamics: Evidence from Europe," NBER Working Papers 10165, National Bureau of Economic Research, Inc.
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  7. Markku Maula & Erkko Autio & Pia Arenius, 2005. "What Drives Micro-Angel Investments?," Small Business Economics, Springer, vol. 25(5), pages 459-475, December.
  8. Bamford, Charles E. & Dean, Thomas J. & Douglas, Thomas J., 2004. "The temporal nature of growth determinants in new bank foundings: implications for new venture research design," Journal of Business Venturing, Elsevier, vol. 19(6), pages 899-919, November.
  9. Arauzo Carod, Josep Maria & Segarra Blasco, Agustí, 2004. "The Determinants of Entry are not Independent of Start-up Size: Some evidence from Spanish manufacturing," Working Papers 2072/1775, Universitat Rovira i Virgili, Department of Economics.
  10. Bates, Timothy, 1995. "Self-employment entry across industry groups," Journal of Business Venturing, Elsevier, vol. 10(2), pages 143-156, March.
  11. Paul Schreyer, 2000. "High-Growth Firms and Employment," OECD Science, Technology and Industry Working Papers 2000/3, OECD Publishing.
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  13. Paul Gompers & Josh Lerner, 2001. "The Venture Capital Revolution," Journal of Economic Perspectives, American Economic Association, vol. 15(2), pages 145-168, Spring.
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Citations

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Cited by:
  1. Julie Hermans & Marcus Dejardin & Johanna Vanderstraeten & Dendi Ramdani & Erik Stam & Arjen van Witteloostuijn, 2012. "Ambitious entrepreneurship: antecedents and consequences," Working Papers 1210, University of Namur, Department of Economics.
  2. Niels Bosma, 2012. "The Global Entrepreneurship Monitor (GEM) and its Impact on Entrepreneurship Research," Global Entrepreneurship Monitor Working Paper Series 1201, Global Entrepreneurship Research Association, revised May 2012.
  3. Magnus Henrekson & Dan Johansson & Mikael Stenkula, 2010. "Taxation, Labor Market Policy and High-Impact Entrepreneurship," Journal of Industry, Competition and Trade, Springer, vol. 10(3), pages 275-296, September.
  4. Sanandaji, Tino & Leeson, Peter, 2013. "Billionaires," Working Papers 2012:18, Swedish Entrepreneurship Forum.
  5. Wim Naudé, 2010. "Entrepreneurship, developing countries, and development economics: new approaches and insights," Small Business Economics, Springer, vol. 34(1), pages 1-12, January.
  6. Vanessa Diaz-Moriana & Colm O’Gorman, 2013. "Informal Investors and the Informal Venture Capital Market in Ireland," Journal of Asian Scientific Research, Asian Economic and Social Society, vol. 3(6), pages 630-643, June.
  7. Claudia Álvarez & David Urbano & José Amorós, 2014. "GEM research: achievements and challenges," Small Business Economics, Springer, vol. 42(3), pages 445-465, March.
  8. Kim, Younghwan & Kim, Wonjoon & Yang, Taeyong, 2012. "The effect of the triple helix system and habitat on regional entrepreneurship: Empirical evidence from the U.S," Research Policy, Elsevier, vol. 41(1), pages 154-166.
  9. Aidis, Ruta & Estrin, Saul & Mickiewicz, Tomasz, 2009. "Entrepreneurial Entry: Which Institutions Matter?," IZA Discussion Papers 4123, Institute for the Study of Labor (IZA).
  10. Henrekson, Magnus & Stenkula, Mikael, 2009. "Entrepreneurship and Public Policy," Working Paper Series 804, Research Institute of Industrial Economics.
  11. Sander Wennekers & Jolanda Hessels & Chantal Hartog, 2009. "Global Entrepreneurship Monitor 2008 The Netherlands," Scales Research Reports A200914, EIM Business and Policy Research.
  12. Yao-Wen Hsu, 2010. "Staging of venture capital investment: a real options analysis," Small Business Economics, Springer, vol. 35(3), pages 265-281, October.
  13. Marcus Dejardin & Helene Laurent, 2014. "Greasing the wheels of entrepreneurship? A complement according to entrepreneurial motives," Working Papers 1402, University of Namur, Department of Economics.
  14. Naude, Wim, 2009. "Out with the sleaze, in with the ease: Insufficient for entrepreneurial development?," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  15. José Ernesto Amoros & Niels Bosma & Jonathan Levie, 2011. "Ten Years of Global Entrepreneurship Monitor: Accomplishments and Prospects," Global Entrepreneurship Monitor Working Paper Series 1105, Global Entrepreneurship Research Association, revised Aug 2011.
  16. David Urbano & Claudia Alvarez, 2014. "Institutional dimensions and entrepreneurial activity: an international study," Small Business Economics, Springer, vol. 42(4), pages 703-716, April.
  17. Tammy Rogers, 2012. "Bank market structure and entrepreneurship," Small Business Economics, Springer, vol. 39(4), pages 909-920, November.

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