IDEAS home Printed from https://ideas.repec.org/p/iza/izadps/dp9938.html
   My bibliography  Save this paper

Resampling and Bootstrap to Assess the Relevance of Variables: A New Algorithmic Approach with Applications to Entrepreneurship Data

Author

Listed:
  • Gimenez-Nadal, José Ignacio

    (University of Zaragoza)

  • Lafuente, Miguel

    (University of Zaragoza)

  • Molina, José Alberto

    (University of Zaragoza)

  • Velilla, Jorge

    (University of Zaragoza)

Abstract

In this paper, we propose an algorithmic approach based on resampling and bootstrap techniques to measuring the importance of a variable, or a set of variables, in econometric models. This algorithmic approach allows us to check the real weight of a variable in a model, avoiding the biases of classical tests, and to select the more powerful variables, or more relevant models, in terms of predictability, reducing dimensions. We apply this methodology to the Global Entrepreneurship Monitor data for the year 2014, and find that innovation and new technologies, help others with their business, and that entrepreneurial education at University and the availability of government subsidies, are among the most important predictors for entrepreneurial behavior.

Suggested Citation

  • Gimenez-Nadal, José Ignacio & Lafuente, Miguel & Molina, José Alberto & Velilla, Jorge, 2016. "Resampling and Bootstrap to Assess the Relevance of Variables: A New Algorithmic Approach with Applications to Entrepreneurship Data," IZA Discussion Papers 9938, Institute of Labor Economics (IZA).
  • Handle: RePEc:iza:izadps:dp9938
    as

    Download full text from publisher

    File URL: https://docs.iza.org/dp9938.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Dean Karlan & Martin Valdivia, 2011. "Teaching Entrepreneurship: Impact of Business Training on Microfinance Clients and Institutions," The Review of Economics and Statistics, MIT Press, vol. 93(2), pages 510-527, May.
    2. Pfann, Gerard & Blumberg, Boris, 2015. "Roads Leading to Self-Employment: Comparing Transgenerational Entrepreneurs and Self-Made Start-Ups," CEPR Discussion Papers 10699, C.E.P.R. Discussion Papers.
    3. Tim R. Holcomb & R. Duane Ireland & R. Michael Holmes Jr. & Michael A. Hitt, 2009. "Architecture of Entrepreneurial Learning: Exploring the Link among Heuristics, Knowledge, and Action," Entrepreneurship Theory and Practice, , vol. 33(1), pages 167-192, January.
    4. Minniti, Maria, 2005. "Entrepreneurship and network externalities," Journal of Economic Behavior & Organization, Elsevier, vol. 57(1), pages 1-27, May.
    5. Wim Naudé, 2016. "Is European Entrepreneurship in Crisis?," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 14(03), pages 03-07, October.
    6. Molina, Jose Alberto & Velilla, Jorge & Ortega, Raquel, 2015. "The decision to become an entrepreneur in Spain: The role of the household financial situation," MPRA Paper 68101, University Library of Munich, Germany.
    7. Murphy, Kevin M & Topel, Robert H, 2002. "Estimation and Inference in Two-Step Econometric Models," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(1), pages 88-97, January.
    8. Horowitz, J. L., 1995. "Bootstrap Methods In Econometrics: Theory And Numerical Performance," SFB 373 Discussion Papers 1995,63, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
    9. Wim Naudé, 2016. "Is European Entrepreneurship in Crisis?," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 14(3), pages 03-07, October.
    10. Goncalves, Silvia & White, Halbert, 2005. "Bootstrap Standard Error Estimates for Linear Regression," Journal of the American Statistical Association, American Statistical Association, vol. 100, pages 970-979, September.
    11. Pagan, Adrian, 1984. "Econometric Issues in the Analysis of Regressions with Generated Regressors," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 25(1), pages 221-247, February.
    12. Niels Bosma & Mirjam van Praag & Roy Thurik & Gerrit de Wit, 2004. "The Value of Human and Social Capital Investments for the Business Performance of Startups," Small Business Economics, Springer, vol. 23(3), pages 227-236, October.
    13. Jonathan Levie & Erkko Autio, 2013. "Growth and growth intentions: a meta-analysis of existing evidence," White Papers 0001, Enterprise Research Centre.
    14. Zoltan J. Acs, 1992. "Small Business Economics: A Global Perspective," Challenge, Taylor & Francis Journals, vol. 35(6), pages 38-44, November.
    15. Davidsson, Per, 1989. "Entrepreneurship -- And after? A study of growth willingness in small firms," Journal of Business Venturing, Elsevier, vol. 4(3), pages 211-226, May.
    16. Siri Terjesen & László Szerb, 2008. "Dice thrown from the beginning? An empirical investigation of determinants of firm level growth expectations," Estudios de Economia, University of Chile, Department of Economics, vol. 35(2 Year 20), pages 153-178, December.
    17. Pia Arenius & Maria Minniti, 2005. "Perceptual Variables and Nascent Entrepreneurship," Small Business Economics, Springer, vol. 24(3), pages 233-247, February.
    18. Nagler,Paula & Naude, Wim & Nagler,Paula & Naude, Wim, 2014. "Non-farm enterprises in rural Africa : new empirical evidence," Policy Research Working Paper Series 7066, The World Bank.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jorge, Velilla, 2017. "Feminization of entrepreneurship in developing countries? Evidence from GEM data," MPRA Paper 79997, University Library of Munich, Germany.
    2. Molina, Jose Alberto & Ortega, Raquel & Velilla, Jorge, 2017. "Older entrepreneurs-by-necessity using fuzzy set methods: differences between developed and developing countries," MPRA Paper 76982, University Library of Munich, Germany.
    3. Velilla, Jorge & Molina, José Alberto & Ortega, Raquel, 2018. "Why older workers become entrepreneurs? International evidence using fuzzy set methods," The Journal of the Economics of Ageing, Elsevier, vol. 12(C), pages 88-95.
    4. Molina, Jose Alberto & Velilla, Jorge & Ortega, Raquel, 2016. "Entrepreneurial activity in the OECD: Pooled and cross-country evidence," MPRA Paper 71592, University Library of Munich, Germany.
    5. Velilla, Jorge, 2018. "The entrepreneurial activity using GEM data: evidence for Spain (national and regional) and for Europe," MPRA Paper 85568, University Library of Munich, Germany.
    6. Molina, Jose Alberto & Velilla, Jorge, 2016. "La innovación como determinante pare el emprendimiento [Innovation as determinant of entrepreneurship]," MPRA Paper 71471, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jose Ignacio Gimenez-Nadal & Miguel Lafuente & Jose Alberto Molina & Jorge Velilla, 2019. "Resampling and bootstrap algorithms to assess the relevance of variables: applications to cross section entrepreneurship data," Empirical Economics, Springer, vol. 56(1), pages 233-267, January.
    2. Jorge, Velilla, 2017. "Feminization of entrepreneurship in developing countries? Evidence from GEM data," MPRA Paper 79997, University Library of Munich, Germany.
    3. Molina, Jose Alberto & Velilla, Jorge & Ortega, Raquel, 2016. "Entrepreneurial activity in the OECD: Pooled and cross-country evidence," MPRA Paper 71592, University Library of Munich, Germany.
    4. Molina, Jose Alberto & Velilla, Jorge, 2016. "La innovación como determinante pare el emprendimiento [Innovation as determinant of entrepreneurship]," MPRA Paper 71471, University Library of Munich, Germany.
    5. Gascón Salillas, Patricia, 2020. "La actividad emprendedora: Análisis transversal en la Comunidad Foral de Navarra [Entrepreneurship activity: Cross-sectional analysis in the Region of Navarra]," MPRA Paper 99386, University Library of Munich, Germany.
    6. Molina, Jose Alberto & Ortega, Raquel & Velilla, Jorge, 2017. "Older entrepreneurs-by-necessity using fuzzy set methods: differences between developed and developing countries," MPRA Paper 76982, University Library of Munich, Germany.
    7. Velilla, Jorge & Molina, José Alberto & Ortega, Raquel, 2018. "Why older workers become entrepreneurs? International evidence using fuzzy set methods," The Journal of the Economics of Ageing, Elsevier, vol. 12(C), pages 88-95.
    8. Ferrando-Latorre, Sandra & Velilla, Jorge, 2018. "La transmisión intergeneracional de la actividad emprendedora en las familias españolas [Intergeneration transmissions of the entrepreneurial activity in Spanish households]," MPRA Paper 83573, University Library of Munich, Germany.
    9. Velilla, Jorge, 2021. "Regional and national results on entrepreneurship using GEM data," MPRA Paper 110323, University Library of Munich, Germany.
    10. Sandra Ferrando-Latorre & Jorge Velilla & Raquel Ortega, 2019. "Intergenerational Transmission of Entrepreneurial Activity in Spanish Families," Journal of Family and Economic Issues, Springer, vol. 40(3), pages 390-407, September.
    11. Velilla, Jorge, 2018. "The entrepreneurial activity using GEM data: evidence for Spain (national and regional) and for Europe," MPRA Paper 85568, University Library of Munich, Germany.
    12. Raquel Puente & María Antonia Cervilla & Carlos Giovanni González & Nunzia Auletta, 2017. "Determinants of the growth aspiration: a quantitative study of Venezuelan entrepreneurs," Small Business Economics, Springer, vol. 48(3), pages 699-726, March.
    13. Andrea Filippetti & Neil Lee, 2021. "Individual risk attitudes and local unemployment: evidence from Italy in the Great Recession," Working Papers 53, Birkbeck Centre for Innovation Management Research, revised Apr 2021.
    14. Gimenez-Nadal, José Ignacio & Molina, José Alberto & Velilla, Jorge, 2016. "A Wage-Efficiency Spatial Model for US Self-Employed Workers," IZA Discussion Papers 9634, Institute of Labor Economics (IZA).
    15. Marina Morales & Jorge Velilla, 2021. "The effect of cultural environment on entrepreneurial decisions," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 48(9), pages 1309-1330, June.
    16. Peter van der Zwan & Ingrid Verheul & Roy Thurik & Isabel Grilo, 2009. "Entrepreneurial Progress: Climbing the Entrepreneurial Ladder in Europe and the US," Tinbergen Institute Discussion Papers 09-070/3, Tinbergen Institute, revised 17 Mar 2010.
    17. Velilla, Jorge & Molina, José Alberto & Ortega, Raquel, 2020. "Entrepreneurship among Low-, Mid- and High-Income Workers in South America: A Fuzzy-Set Analysis," IZA Discussion Papers 13209, Institute of Labor Economics (IZA).
    18. Ozcam, Ahmet & Karadeniz, Esra, 2012. "The Determinants of the Growth Expectations of Turkish Entrepreneurs in the Way up the Entrepreneural Ladder Using Ordinal Logistic Model (OLM)," MPRA Paper 49908, University Library of Munich, Germany.
    19. Jolanda Hessels & Brigitte Hoogendoorn & Peter van der Zwan & Nardo de Vries, 2013. "Global Entrepreneurship Monitor The Netherlands 2012," Scales Research Reports H201314, EIM Business and Policy Research.
    20. Dirk Dohse & Sascha Walter, 2012. "Knowledge context and entrepreneurial intentions among students," Small Business Economics, Springer, vol. 39(4), pages 877-895, November.

    More about this item

    Keywords

    entrepreneurship data; bootstrap; regression; classification;
    All these keywords.

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:iza:izadps:dp9938. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Holger Hinte (email available below). General contact details of provider: https://edirc.repec.org/data/izaaade.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.