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Better Means More: Property Rights and High-Growth Aspiration Entrepreneurship

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  • Estrin, Saul

    () (London School of Economics)

  • Korosteleva, Julia

    () (University College London)

  • Mickiewicz, Tomasz

    () (Aston University)

Abstract

This paper contrasts the determinants of entrepreneurial entry and high-growth aspiration entrepreneurship. Using the Global Entrepreneurship Monitor (GEM) surveys for 42 countries over the period 1998-2005, we analyse how institutional environment and entrepreneurial characteristics affect individual decisions to become entrepreneurs and aspirations to set up high-growth ventures. We find that institutions exert different effects on entrepreneurial entry and on the individual choice to launch high-growth aspiration projects. In particular, a strong property rights system is important for high-growth aspiration entrepreneurship, but has less pronounced effects for entrepreneurial entry. The availability of finance and the fiscal burden matter for both.

Suggested Citation

  • Estrin, Saul & Korosteleva, Julia & Mickiewicz, Tomasz, 2009. "Better Means More: Property Rights and High-Growth Aspiration Entrepreneurship," IZA Discussion Papers 4396, Institute for the Study of Labor (IZA).
  • Handle: RePEc:iza:izadps:dp4396
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    Cited by:

    1. Thomas Stubbs & Lawrence King & David Stuckler, 2014. "Economic growth, financial crisis, and property rights: observer bias in perception-based measures," International Review of Applied Economics, Taylor & Francis Journals, vol. 28(3), pages 401-418, May.
    2. Julia Korosteleva & Tomasz Mickiewicz, 2011. "Start-Up Financing in the Age of Globalization," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 47(3), pages 23-49, May.
    3. Troilo, Michael, 2011. "Legal institutions and high-growth aspiration entrepreneurship," Economic Systems, Elsevier, vol. 35(2), pages 158-175, June.
    4. Julia Korosteleva & Tomasz Mickiewicz, 2011. "Start-Up Financing in the Age of Globalization," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 47(3), pages 23-49, May.
    5. Maksim Belitski & Julia Korosteleva, 2011. "Entrepreneurial activity across European cities," ERSA conference papers ersa10p1646, European Regional Science Association.
    6. Tino Sanandaji & Peter T. Leeson, 2013. "Billionaires," Industrial and Corporate Change, Oxford University Press, vol. 22(1), pages 313-337, February.
    7. Andreas Irmen & Johanna Kuehnel, 2011. "Property rights, optimal public enforcement, and growth," CREA Discussion Paper Series 11-18, Center for Research in Economic Analysis, University of Luxembourg.
    8. Gian Fazio & Tomasz Marek Mickiewicz, 2009. "Institutional environment, innovative entrepreneurial entry and venture capital financing," UCL SSEES Economics and Business working paper series 102, UCL School of Slavonic and East European Studies (SSEES).
    9. repec:elg:eechap:14395_27 is not listed on IDEAS
    10. repec:ksa:szemle:1695 is not listed on IDEAS

    More about this item

    Keywords

    start-ups; high-growth aspiration entrepreneurship; property rights; entrepreneurship;

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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