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Entrepreneurship and its Economical Value in a very Dynamic Business Environment

Author

Listed:
  • Ana-Maria Grigore

    (University of Bucharest)

  • Irina-Maria Dragan

    (Bucharest University of Economic Studies)

Abstract

The aim of this article is to enrich the vision regarding the connection between entrepreneurship and economic growth, focusing upon an economy in transition to a market economy. The authors of the present paper have developed an empirical model – based on a constant preoccupation to observe the impact of the entrepreneurial phenomenon on the free, emerging market in Romania – model which uses a number of variables which are believed to influence the critical mass of viable business existing in a dynamic environment. The proposed model identifies the factors that need to be activated in the current context to transfer the theoretical importance of SME’s in the truly complex world of an economy that desires to be prosperous. Then, the model was exposed to the test of the objective statistical and mathematical testing, starting from the results obtained from a survey of 536 entrepreneurs. The methodological approach makes use both of regression models, which use the relevant aspects from the survey, turned into quantitative or qualitative variables, and of the analysis of variance, with the aim of explaining the way in which the considered variables have managed to determine the economic growth, as well as of determining their importance and their influence. Finally, several conclusions have been outlined, regarding the economic policy measures that are needed and feasible in order to make the business environment in Romania more predictable and more friendly and, thus, to encourage entrepreneurship.

Suggested Citation

  • Ana-Maria Grigore & Irina-Maria Dragan, 2015. "Entrepreneurship and its Economical Value in a very Dynamic Business Environment," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(38), pages 120-120, February.
    • Handle: RePEc:aes:amfeco:v:38:y:2015:i:17:p:120
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    References listed on IDEAS

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    3. Zoltán J. Ács & László Szerb & Erkko Autio, 2013. "Global Entrepreneurship and Development Index 2013," Books, Edward Elgar Publishing, number 14236.
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    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Vahid Jafari-Sadeghi & Jean-Marie Nkongolo-Bakenda & Léo-Paul Dana & Robert B. Anderson & Paolo Pietro Biancone, 2020. "Home Country Institutional Context and Entrepreneurial Internationalization: The Significance of Human Capital Attributes," Journal of International Entrepreneurship, Springer, vol. 18(2), pages 165-195, June.
    2. Jafari-Sadeghi, Vahid & Sukumar, Arun & Pagán-Castaño, Esther & Dana, Léo-Paul, 2021. "What drives women towards domestic vs international business venturing? An empirical analysis in emerging markets," Journal of Business Research, Elsevier, vol. 134(C), pages 647-660.
    3. Jaroslav BELAS & Lubomir BELAS & Martin CEPEL & Zoltan ROZSA, 2019. "The Impact Of The Public Sector On The Quality Of The Business Environment In The Sme Segment," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2019(32), pages 18-31, June.
    4. Pinkovetskaia Iuliia Ginzburg Maria, 2018. "Is Russia Rationally Developing its Small and Medium-Sized Enterprises? An Analysis of Regional Production Functions," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 21(2), pages 37-48, November.

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    More about this item

    Keywords

    entrepreneurship; economic development; dynamic business environment; public policy; small and medium enterprises.;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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