scholarly journals Externalities of home-ownership on entrepreneurship: empirical evidence

2019 ◽  
Vol 12 (1) ◽  
pp. 94-109 ◽  
Author(s):  
Jani-Petri Laamanen
Keyword(s):  
Home Ownership ◽  
Rental Housing ◽  
Economic Effects ◽  
Paid Work ◽  
Content Type ◽  
Individual Level ◽  
Market Effects ◽  
Self Employment ◽  
Level Data ◽  
Rental Housing Market

PurposeThis study aims to examine the externalities from regional home-ownership to individual-level entrepreneurship.Design/methodology/approachThe paper links individual-level data from the Finnish Income Distribution Statistics for years 1990-1992 to regional home-ownership proportions. Probit models of entrepreneurship with regional home-ownership and appropriate control variables as regressors are estimated. A rental housing market deregulation experiment which caused exogenous variation in regions’ home-ownership is exploited to identify the causal effects on entrepreneurship.FindingsResults show that higher home-ownership in a region leads to greater entrepreneurship. Further analyses together with the fact that homeownership tends to have detrimental labour market effects suggest that homeownership encourages entrepreneurship by leading to less paid work opportunities. These results are in line with those of earlier literature that self-employment and entrepreneurship, especially during bad economic times, are partly motivated by bad employment opportunities.Originality/valueThis study presents novel results on the externalities that home-ownership has on entrepreneurship. These externalities are shown to be important enough that they need to be considered when assessing the economic effects of various policies that affect the prevalence of owner-occupied housing. The instrumental variables’ estimates are the first causal estimates in the literature and the bias resulting from assuming exogeneity is shown to be nonnegligible.

Investigating the impact of home-sharing on the traditional rental market

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Xiuzhi Zhang ◽  
Zhijie Lin ◽  
Junghyun Maeng
Keyword(s):  
Housing Market ◽  
Relevant Literature ◽  
Rental Housing ◽  
Sharing Economy ◽  
Multiple Sources ◽  
Content Type ◽  
Level Data ◽  
Rich Data ◽  
The Impact ◽  
Rental Housing Market

PurposeThe sharing economy has enjoyed rapid growth in recent years, and entered many traditional industries such as accommodation, transportation and lending. Although researchers in information systems and marketing have attempted to examine the impacts of the sharing economy on traditional businesses, they have not yet studied the rental housing market. Thus, this research aims to investigate the impact of the sharing economy (i.e. home-sharing) on traditional businesses (i.e. rental housing market).Design/methodology/approachThe authors assemble rich data from multiple sources about the entry of a leading Chinese home-sharing platform (i.e. Xiaozhu.com) and local housing rental price index. Then, econometric models (i.e. linear panel-level data models) are employed for empirical investigation. Instrumental variables are used to account for potential endogeneity issues. Various robustness checks are adopted to establish the consistency of the findings.FindingsOverall, the estimation results show that the entry of a home-sharing platform will decrease the local housing rental price. Moreover, this impact would be strengthened in a more developed city. Additionally, this impact would be strengthened with higher prices of new houses or second-hand houses.Originality/valueFirst, this research is one of the first to study the impact of the sharing economy (i.e. home-sharing) on traditional markets (i.e. housing rentals). Second, it contributes to the relevant literature by documenting that the impact of a platform's entry is not uniform but contingent on city and housing market characteristics. Third, practically, the findings also offer important implications for platform operators and policy makers.

Effectiveness of tax reform on entrepreneurship

2019 ◽  
Vol 9 (1) ◽  
pp. 94-111
Author(s):  
Chigozie Andy Ngwaba ◽  
SeyedSoroosh Azizi
Keyword(s):  
South Africa ◽  
South African ◽  
Tax Reform ◽  
Cross Sectional ◽  
Content Type ◽  
Individual Level ◽  
Self Employment ◽  
The World Bank ◽  
Level Data ◽  
Before And After

Purpose The purpose of this paper is to investigate the effects of tax reform on entrepreneurship in South Africa using repeated cross-sectional data from the World Bank. Design/methodology/approach The paper adopts a difference-in-difference estimation technique as well as contrasting periods before and after the tax reform. This contrast is achieved by examining individuals in the formal and informal sector and measuring the effectiveness of the reform on self-employment. Findings The results indicate that the tax reform had a positive and significant effect on the probability of becoming self-employed in South Africa and is robust across different econometric specifications. Originality/value The authors use individual-level data to measure the effectiveness of a tax reform policy on entrepreneurship. Utilizing the South African post-Apartheid tax reform as a natural experiment allows the authors to identify the effects of taxes on the choice of becoming self-employed.

Antecedents of growth-oriented entrepreneurship before and during the Greek economic crisis

2017 ◽  
Vol 24 (3) ◽  
pp. 528-544 ◽  
Author(s):  
Ioannis Giotopoulos ◽  
Alexandra Kontolaimou ◽  
Aggelos Tsakanikas
Keyword(s):  
Work Experience ◽  
Early Stage ◽  
New Ventures ◽  
High Growth ◽  
Content Type ◽  
Crisis Period ◽  
Individual Level ◽  
Level Data ◽  
The Social ◽  
Before And After

Purpose The purpose of this paper is to explore potential drivers of high-growth intentions of early-stage entrepreneurs in Greece before and after the onset of the financial crisis of 2008. Design/methodology/approach To this end, the authors use individual-level data retrieved from Global Entrepreneurship Monitor annual surveys (2003-2015). Findings The results show that high-growth intentions of Greek entrepreneurs are driven by different factors in the crisis compared to the non-crisis period. Male entrepreneurs and entrepreneurs with significant work experience seem to be more likely to be engaged in growth-oriented new ventures during the crisis period. The same appears to hold for entrepreneurs who are motivated by an opportunity and also perceive future business opportunities in adverse economic conditions. On the other hand, the educational level and the social contacts of founders with other entrepreneurs are found to drive ambitious Greek entrepreneurship in the years before the crisis, while they were insignificant after the crisis outbreak. Originality/value Based on the concept of ambitious entrepreneurship, this study contributes to the literature by investigating the determinants of entrepreneurial high-growth expectations in the Greek context emphasizing the crisis period in comparison to the pre-crisis years.

Agricultural entrepreneurship orientation: is academic training a missing link?

2017 ◽  
Vol 59 (7/8) ◽  
pp. 856-870 ◽  
Author(s):  
Soodeh Mohammadinezhad ◽  
Maryam Sharifzadeh
Keyword(s):  
Content Type ◽  
Individual Level ◽  
Configuration Theory ◽  
University Courses ◽  
Level Data ◽  
Academic Courses ◽  
The Individual ◽  
Agricultural Entrepreneurship ◽  
Hierarchy Process ◽  
Practical Implications

Purpose The purpose of this paper is to investigate the importance of academic courses on agricultural entrepreneurship. Design/methodology/approach Modified global entrepreneurship and development index (GEDI) was used to determine entrepreneurial dimensions among 19 graduated students of agricultural colleges resided in Iran. Fuzzy analytical hierarchy process was applied to understand agricultural graduates’ preferences on effectiveness of university courses (core, free elective and restricted elective). Findings Results suggested the importance of professional restricted elective courses to provide students with necessary skills. These courses were successful in providing a context for entrepreneurial profile. Research limitations/implications Innate talent or acquired skills were always the place of debate on entrepreneurial development. The paper builds on the premise that entrepreneurs are made through education and continuing reconstruction of experience, further research is required as the field develops in experience and complexity. Practical implications The paper provides strategies to effectively modify practical route in higher education to enhance entrepreneurial orientation among students. Originality/value The paper is innovative at a conceptual level in modifying GEDI elements in individual-level variables based on GEDI configuration theory. This approach is particularly useful in addressing the bottleneck problems of entrepreneurship profile and focusses on the information interpreted at weights of the individual-level data.

Self-employment and Civic Inclination

2020 ◽  
Vol 63 (5) ◽  
pp. 719-737
Author(s):  
F. Carson Mencken ◽  
Bethany Smith ◽  
Charles M. Tolbert
Keyword(s):  
Regression Models ◽  
Political Activism ◽  
The Self ◽  
Data Sets ◽  
County Level ◽  
Cross Sectional ◽  
Individual Level ◽  
Self Employment ◽  
Level Data ◽  
Building Community

We test whether the self-employed have higher levels of civic inclination (trust, political activism, community closeness, community participation) compared to workers from the private sector. We examine the civic inclinations of the self-employed with two national cross-sectional data sets. We use a variety of discrete and continuous regression models. We find that the self-employed have higher levels of political activism, feel closer to neighbors and family, and have greater odds of engaging to solve community problems. We fail to detect differences in donating money, attending community events, and closeness to friends. Previous research has concluded with county-level data that the self-employed are important actors in building community and creating social capital. Our results add to this literature by showing that the self-employed have higher levels of civic inclination with individual-level data. Implications for theory and research are discussed.

Rental market and macroeconomics: evidence for the US

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Vinicius Phillipe de Albuquerquemello ◽  
Cássio Besarria
Keyword(s):  
Housing Market ◽  
Public Policies ◽  
Rental Housing ◽  
Real Estate Market ◽  
Macroeconomic Shocks ◽  
Content Type ◽  
The Real ◽  
The Us ◽  
The Face ◽  
Rental Housing Market

PurposeThe aim of this paper is to assess whether the inclusion of the rental housing market affect the dynamics of the real business cycles (RBCs).Design/methodology/approachFor this investigation, the authors model and estimate two dynamic stochastic general equilibrium (DSGE) versions for the US economy, one with and one without the presence of residential rent.FindingsThe findings provide evidence that the inclusion of the rental housing market can improve the assessment of public policies and the projection of scenarios in the face of sudden macroeconomic shocks. The addition of this secondary housing market augments the effect of total factor productivity (TFP) shock on output and consumption. In addition, it increases the effect of the credit shock on the demand for housing. The latter highlights the role of credit for the real estate market. Therefore, the authors recommend that analysts and macro-prudential authorities consider adding it to their models.Originality/valueThe findings provide evidence that the inclusion of the rental housing market can improve the assessment of public policies and the projection of scenarios in the face of sudden macroeconomic shocks.

scholarly journals Capital buffers based on banks’ domestic systemic importance: selected issues

2015 ◽  
Vol 7 (3) ◽  
pp. 207-220 ◽  
Author(s):  
Michal Skorepa ◽  
Jakub Seidler
Keyword(s):  
Banking Sector ◽  
Relevant Literature ◽  
Capital Requirements ◽  
Content Type ◽  
Individual Level ◽  
Level Data ◽  
National Bank ◽  
Key Steps ◽  
Importance Assessment

Purpose – The purpose of this paper is to assist the numerous regulators around the globe who are currently considering ways to impose domestic systemic importance-based capital requirements on banks. Design/methodology/approach – The article discusses in some detail a number of issues from the viewpoint of regulatory practice, mentioning relevant literature where available. Comments partly reflect the experience that the Czech National Bank gathered over the past two years while preparing its own regime of domestic systemic importance-based capital requirements on banks. Findings – The authors stress, among other points, one weakness of the (otherwise well-designed) method suggested by the Basel Committee for Banking Supervision (BCBS) for assessment of banks’ systemic importance: the method is “relative” in that it does not reflect the absolute importance of the banking sector for the economy. The paper also explains that in some cases, use of individual-level rather than consolidated-level data may be preferable, in contrast to what the BCBS guidance suggests. Further, implications of the buffers over a longer term are pointed out. Originality/value – As far as the authors are aware, this article is the first to comprehensively discuss the main issues surrounding both key steps (systemic importance assessment and determination of buffer level) in the process of introducing buffers based on domestic systemic importance. A number of questions related to these two steps are raised which regulators may appreciate to be reminded of, even if some of the questions are such that it is not possible to give a generally applicable answer to them.

Homeownership rates of financially constrained households

2017 ◽  
Vol 10 (2) ◽  
pp. 111-123
Author(s):  
Cecilia Enström-Öst ◽  
Bo Söderberg ◽  
Mats Wilhelmsson
Keyword(s):  
Housing Market ◽  
Design Methodology ◽  
Financial Constraints ◽  
Rental Housing ◽  
Probit Model ◽  
Tenure Choice ◽  
Content Type ◽  
Explicit Consideration ◽  
The Government ◽  
Rental Housing Market

Purpose This paper aims to examine tenure choice in the Swedish housing market with explicit consideration of households’ credit constraints in combination with age and ethnic background. Design/methodology/approach Observations of some 940,000 households were used to analyse the Stockholm housing market in 2008, prior to the implementation of the mortgage cap. The tenure choice models were estimated using a two-stage instrument variable (IV) logit and probit model with ownership or renting as outcome. Findings The results suggest, as expected, that being financially restricted is negatively related to owning. In particular, financial restriction is more binding for young households and households with a foreign background than for other types of households. These two sub-groups are also known to have difficulties establishing themselves in the rental housing market, and are therefore specifically vulnerable to further financial constraints such as borrowing restrictions or amortization requirements. Originality/value The government in Sweden has become concerned with the rapid growth in household indebtedness. As a response, a 0.85 loan-to-value ratio mortgage cap was introduced in 2010. However, critics are concerned with the effects this may have on the possibility for certain households to purchase a dwelling.

Composite actors as participant protection: methodological opportunities for ethnographers

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jennifer MJ Yim ◽  
Peregrine Schwartz-Shea
Keyword(s):  
Data Sharing ◽  
Design Methodology ◽  
Content Type ◽  
Individual Level ◽  
Research Participants ◽  
Level Data ◽  
Methodological Aspects ◽  
Ethnographic Narratives

PurposeThe purpose of this article is to persuade ethnographers to consider using composites for studies in which protecting participants from identification is especially important. It situates the argument in the context of the transparency and data sharing movements' uneven influence across disciplines.Design/methodology/approachThe paper reviews problems in maintaining confidentiality of research participants using pseudonyms and masking. It analyzes existing literature on composites, conditions of composite use and identifies composite actors as a form useful to place-based ethnography. Methodological aspects of composite actor construction are discussed along with potential opportunities composites offer.FindingsConstruction of composite actors is best accomplished by aggregating thematically during deskwork. Composites provide enhanced confidentiality by creating plausible doubt in the reader's mind, in part, through the presentation of aggregate rather than individual-level data.Originality/valueThis discussion advances the methodology of constructing composites, particularly composite actors, providing guidance to increase trustworthiness of ethnographic narratives that employ composites.

Do local union strategies explain the (unexpected) union pay premium in China?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yao Yao ◽  
Morley Gunderson
Keyword(s):  
Union Wage ◽  
Content Type ◽  
Individual Level ◽  
Local Union ◽  
Union Wage Premium ◽  
Level Data ◽  
Timely Fashion ◽  
Underlying Mechanisms ◽  
The Impact ◽  
Do So

PurposeThe authors investigate the extent to which differences in provincial union legislation have impacts on the union earnings premium.Design/methodology/approachContent analysis of provincial union regulations of 25 provinces is conducted to create two indices: one reflecting the degree of stringency of the local requirement that unions be established in a timely fashion and the other reflecting requirements for employers to negotiate wages with the union. The authors use individual level data from the China Family Panel Studies (CFPS) of 2010 to estimate the union earnings premium.FindingsThe authors find that unionised workers in China receive an earnings premium ranging from 6.4 to 9.6%, which is in range of other studies (but not all) for China that tend to find a (perhaps surprising) union wage premium in spite of the fact that unions tend to be “company unions” designed to foster stability and growth and to serve as a transmission belt for the wishes of the Party rather than bargaining for the benefit of their members. The authors also find that provincial requirements to establish unions in a timely fashion enhance the impact of unions on the earnings of their members, but provincial requirements to negotiate wages dampen the effect of unions on the earnings of their members. Reasons for these results are discussed.Originality/valueDespite this lack of independence of the Chinese unions, research continuously finds that Chinese unions have effects that are surprisingly similar to those of unions in Western countries. This paper drills deeper into the underlying mechanisms to see if local union strategies, exemplified by provincial union legislation, can explain the unexpected union effects on compensation. To the authors’ knowledge, this is the first paper to do so. Moreover, the authors use individual-level data in contrast to most studies on China that use firm or provincial level aggregate data.

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