scholarly journals INFORMAL INVESTORS IN CHILE: AN EXPLORATORY STUDY FROM A GENDER PERSPECTIVE / NEFORMALIŲ INVESTUOTOJŲ (PAGAL LYTĮ) TYRIMAS ČILĖJE

2012 ◽  
Vol 13 (1) ◽  
pp. 111-131 ◽  
Author(s):  
Gianni Romaní ◽  
Miguel Atienza ◽  
José Ernesto Amorós
Keyword(s):  
Gender Differences ◽  
Family Policy ◽  
Early Stage ◽  
New Ventures ◽  
Demographic Variables ◽  
Policy Implications ◽  
Global Entrepreneurship Monitor ◽  
Informal Investment ◽  
Participation Of Women ◽  
Global Entrepreneurship

Informal investment represents one of the main sources to finance early-stage new ventures. Despite the progressive participation of women in informal investment, little is known about the characteristics of female informal investors, especially in developing countries. This study examines the gender differences of a sample of 613 informal investors in Chile. To this end we used the database from the Global Entrepreneurship Monitor Chile 2007–2008 and applied tests of differences in proportions and means for independent samples. The results show that there are significant gender differences in some socio-demographic variables, like education and work status, and also in the perception of good opportunities and the fear to failure. Additionally, women invest smaller amounts and expect lower returns than men do. Finally, women invest more than men in close family. Policy implications of these results are discussed. Santrauka Neformalios investicijos – vienas pagrindinių šaltinių, iš kurių finansuojamos naujai besikuriančios arba tik pradėjusios savo veiklą įmonės. Nepaisant to, kad neformalioje investicijų veikloje palaipsniui daugėja moterų, gana mažai žinoma apie jas kaip neformalias investuotojas, ypač besivystančiose šalyse. Autoriai atliko tyrimą Čilėje, kuriame dalyvavo 613 skirtingų lyčių investuotojų, kurie buvo paimti iš duomenų bazės „Global Entrepreneurship Monitor Chile 2007–2008 m“. Autorių atliktų tyrimų rezultatai rodo, kad vis dėlto kai kuriuose socialiniuose demografiniuose kintamuosiuose esama reikšmingų lyčių skirtumų, pavyzdžiui, išsilavinimas ir užimamos pareigos, perspektyvų darbovietėje suvokimas, karjera ir nesėkmės baimė. Atlikę tyrimą autoriai nustatė, kad moterys labiau linkusios investuoti mažesnes sumas nei vyrai.

Do You Need to be Risk-Tolerant to Become an Entrepreneur? The Importance of the Reference Point

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Lucio Fuentelsaz ◽  
Juan P. Maicas ◽  
Javier Montero
Keyword(s):  
Reference Point ◽  
New Ventures ◽  
Risk Tolerance ◽  
High Educational Level ◽  
Risk And Uncertainty ◽  
Global Entrepreneurship Monitor ◽  
Entrepreneurial Entry ◽  
Global Entrepreneurship ◽  
Set Up ◽  
High Educational

AbstractThe creation of new ventures involves a great deal of risk and uncertainty. However, research has been theoretically divergent and empirically inconclusive about the influence of individuals’ risk tolerance on entrepreneurial entry. In this paper, we argue that this relationship is contingent on the reference point of individuals, taking into account the human capital and the opportunity cost of individuals when they decide to start a venture. This approach allows us to clarify some of the previous mixed results in the literature. We use a sample of almost 600,000 individuals from 90 countries that have participated in the Global Entrepreneurship Monitor project between 2010 and 2014. Our results show that individuals with previous experience as entrepreneurs do not need to be so risk-tolerant to set up their own venture, while individuals with a job and/or a high educational level need to be especially risk-tolerant to become entrepreneurs.

Country-level determinants and consequences of overconfidence in the ambitious entrepreneurship segment

2018 ◽  
Vol 36 (5) ◽  
pp. 473-499 ◽  
Author(s):  
Jerzy Cieślik ◽  
Eugene Kaciak ◽  
André van Stel
Keyword(s):  
Empirical Support ◽  
Development Stage ◽  
Policy Implications ◽  
Global Entrepreneurship Monitor ◽  
Country Level ◽  
Combining Data ◽  
Global Entrepreneurship ◽  
Almost All ◽  
The Cost ◽  
The Eu

Countries vary widely and systematically in the extent to which the ambitions of their entrepreneurs differ from their realisations. We label this discrepancy entrepreneurial overconfidence (EOC). Although a certain level of EOC may be beneficial for an economy, we provide empirical support for the argument that if entrepreneurial ambitions substantially and systematically exceed realisations, this may be at the cost of economic and societal prosperity. Therefore, we need to know more about country levels of EOC and their determinants, particularly with respect to the growth-oriented segment of entrepreneurship. Combining data on entrepreneurial ambitions from Global Entrepreneurship Monitor and data on realisations from Eurostat, we construct a measure of EOC at the country level and correlate its variation across 23 European Union (EU) countries over the period 2004–2015 with a set of economic and cultural factors. Among other findings, our results show that ambitions exceed realisations in almost all countries, but that this discrepancy is significantly greater for new member countries entering the EU since 2004. Policy implications of our results are discussed, particularly for promoting ambitious entrepreneurship in countries at the intermediate development stage.

ENTREPRENEURIAL ACTIVITY IN AMERICAN INDIAN NATIONS: EXTENDING THE GEM METHODOLOGY

2013 ◽  
Vol 18 (02) ◽  
pp. 1350009
Author(s):  
REBECCA J. FRANKLIN ◽  
MICHAEL H. MORRIS ◽  
JUSTIN W. WEBB
Keyword(s):  
American Indian ◽  
Early Stage ◽  
The United States ◽  
Entrepreneurial Activity ◽  
Global Entrepreneurship Monitor ◽  
Nascent Entrepreneurship ◽  
Individual Level ◽  
Global Entrepreneurship ◽  
Entrepreneurial Activities ◽  
Indian Nations

Drawing on institutional theory and using a methodology adapted from the Global Entrepreneurship Monitor (GEM), early stage entrepreneurial activities are examined within American Indian nations. Examining a context within a larger institutional context, comparisons are made between three American Indian nations and the United States. Patterns are identified regarding total entrepreneurial activity (TEA), nascent entrepreneurship, business discontinuation and new and established business rates. Additional analyses are conducted of individual-level variables within American Indian nations including location, self-efficacy and other variables in relation to nascent entrepreneurship and business ownership. Implications are drawn for tribal entrepreneurship development and further extension of the GEM methodology.

scholarly journals The value of entrepreneurship by gender on regional behaviour

2021 ◽  
Author(s):  
Fernando Crecente ◽  
María Sarabia ◽  
María Teresa del Val
Keyword(s):  
Women Entrepreneurs ◽  
Early Stage ◽  
Entrepreneurial Activity ◽  
Regional Convergence ◽  
Global Entrepreneurship Monitor ◽  
Female Entrepreneurship ◽  
Men And Women ◽  
Entrepreneurial Organization ◽  
Global Entrepreneurship ◽  
Over Time

AbstractThis paper examines how the value of entrepreneurship by gender is related to regional behaviour. Researchers have traditionally defined entrepreneurial organization as separate to gender and to economic growth. Using the Global Entrepreneurship Monitor (GEM) we complete a dataset of 50 countries using variables such as total early-stage entrepreneurial activity (TEA) and opportunity-driven entrepreneurial activity (OPP). The methodology used proposes an analysis of regional convergence, comparing the evolution over time of both the rate of entrepreneurial activity and the ratios of opportunity-driven and need-driven entrepreneurial activity, distinguishing by gender. On the other hand, a regression model is proposed that explains the greater presence of female entrepreneurship. The results show that entrepreneurship by gender is an important factor to define different cluster of countries according to how men and women entrepreneurs create new economic opportunities.

scholarly journals The influence of individual characteristics on getting involved in an entrepreneurial team: The contingent role of individualism

2021 ◽  
Author(s):  
Nathaly Pinzón ◽  
Javier Montero ◽  
José L. González-Pernía
Keyword(s):  
Human Capital ◽  
Educational Level ◽  
Early Stage ◽  
Individual Characteristics ◽  
Global Entrepreneurship Monitor ◽  
Entrepreneurial Teams ◽  
Entrepreneurial Team ◽  
Employment Generation ◽  
Global Entrepreneurship

AbstractA traditional stereotype of the entrepreneur is that of a lone hero. However, many entrepreneurs engage in new businesses as members of entrepreneurial teams. These teams usually perform better in terms of employment generation, innovation, and profits. Thus, a relevant question is why some individuals get involved in entrepreneurship through a team rather than alone. Our explanation is focused on two variables related to the entrepreneur’s human capital: their educational level and their intrapreneurial experience. There are conflicting arguments on how these variables lead an entrepreneur to join a team, and we argue that the degree of individualism of the society helps us understand the discrepancies. We use a sample of 66,716 early-stage entrepreneurs from 66 countries surveyed by the Global Entrepreneurship Monitor between 2014 and 2017. Our results show that entrepreneurs with higher levels of education and intrapreneurial experience are more likely to be involved in the entrepreneurship process as members of teams. However, the effect of educational level is less pronounced in individualist contexts. In addition, we find that the motivation to enter entrepreneurship partially mediates these relationships, as individuals endowed with higher human capital are likely to enter entrepreneurship driven by an opportunistic motivation, which in turns makes them likely to need or join teams to reach their goals.

scholarly journals Influencing Factors of the Informal Investment in Central Europe

2020 ◽  
Vol 34 (1) ◽  
pp. 78-91
Author(s):  
Lehel Györfy ◽  
Szilárd Madaras
Keyword(s):  
Influencing Factors ◽  
Central Europe ◽  
Household Income ◽  
European Countries ◽  
Full Time ◽  
Global Entrepreneurship Monitor ◽  
Central European ◽  
Informal Investment ◽  
Entrepreneurial Skills ◽  
Global Entrepreneurship

AbstractThis paper examines the influencing factors of becoming informal investors in two groups of Central European countries: the innovation-driven (Estonia, Latvia, Slovenia and Slovakia) and efficiency-driven economies (Croatia, Hungary, Lithuania, Poland and Romania), based on the GEM (Global Entrepreneurship Monitor) database from 2014. According to the results, in the studied innovation-driven economies of Central Europe the probability of becoming an informal investor is higher for those, who know other entrepreneurs, who are confident in their own entrepreneurial skills, who are in the higher percentile of the household income, who are older and male. The results also suggest that in the studied efficiency-driven economies of Central Europe the probability of becoming an informal investor is higher for those who are confident in the own entrepreneurial skills, who know other entrepreneurs, who are in the higher percentile of the household income, who are older and male. The probability is decreased, if somebody is employed full-time. The study emphasises similarities instead of differences regarding the analysed aspect between the two groups of countries.

scholarly journals Women Entrepreneurship in Visegrad Region and its Drivers

2016 ◽  
Vol 64 (6) ◽  
pp. 1899-1910 ◽  
Author(s):  
Marian Holienka ◽  
Zuzana Jančovičová ◽  
Zuzana Kovačičová
Keyword(s):  
Early Stage ◽  
Entrepreneurial Activity ◽  
Global Entrepreneurship Monitor ◽  
Female Population ◽  
Women Entrepreneurship ◽  
Individual Level ◽  
Level Data ◽  
Global Entrepreneurship ◽  
Entrepreneurial Activities ◽  
Visegrád Countries

The aim of our paper is to analyze the quantitative aspects of entrepreneurial activity among female population, and to investigate for drivers of women involvement in early‑stage entrepreneurial activities in Visegrad countries (i.e. Czech Republic, Hungary, Slovakia and Poland). We employ Global Entrepreneurship Monitor national and individual level data for four consecutive years 2011 – 2014 (altogether 16,036 respondents). First, we analyze the main indicators of female entrepreneurial activity, including the inclusivity index, using the descriptive statistics methods. Second, we execute logistic regression analysis and look for the factors related to entering the entrepreneurial path among women in our region, while considering the opportunity and necessity motive dichotomy. Our results show that women in V4 region exhibit more sceptic attitudes towards entrepreneurship as well as low inclusion in entrepreneurial activity in all stages, compared to their male counterparts. Further in our analysis, we have identified the most important factors that act as women entrepreneurship drivers, considering its motivation. Our findings therefore unveil the problematic aspects of women entrepreneurship in Visegrad countries and point out the potential solutions. In our paper we further discuss these findings and their implications.

scholarly journals Motives for Early-Stage Entrepreneurship in Modern Economies

2019 ◽  
Vol 71 ◽  
pp. 04013
Author(s):  
I.S. Pinkovetskaia ◽  
T.V. Gromova ◽  
I.N. Nikitina
Keyword(s):  
Empirical Data ◽  
Input Data ◽  
Distribution Density ◽  
Early Stage ◽  
Density Functions ◽  
Global Entrepreneurship Monitor ◽  
Entrepreneurial Climate ◽  
Global Entrepreneurship ◽  
National Economies ◽  
Start Ups

The relevance of the study is due to the important role played by small and individual entrepreneurship in the vast majority of modern national economies. The aim of the study is to assess the indicators describing the ratio of voluntary, highly demanding and necessity-driven entrepreneurs in the total number of start-ups. The results of the Global Entrepreneurship Monitor project for 2018 were used as input data. Modeling of empirical data and evaluation of differentiation of the considered parameters was based on the development of normal distribution density functions. According to the results of modeling average values and change intervals of specific indicators were established. The originality of the work is associated with the assessment of the share of voluntary, highly demanding and necessity-driven entrepreneurs in the total number of early-stage entrepreneurs in 48 countries. The novelty of the study is due to the assessment of indicators characterizing the current motivation of entrepreneurs, as well as the ratio of the above mentioned indicators. The results of the study can be used in the formation of an entrepreneurial climate aimed at the development of a highly demanding business.

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