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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 of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp4396
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    Cited by:

    1. Kamilia Loukil, 2020. "Dynamic Panel Data Analysis Of The Impact Of Intellectual Property Rights On Entrepreneurship In Emerging And Developing Countries," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 5(1), pages 40-48, March.
    2. Troilo, Michael, 2011. "Legal institutions and high-growth aspiration entrepreneurship," Economic Systems, Elsevier, vol. 35(2), pages 158-175, June.
    3. Andreas Irmen & Johanna Kuehnel, 2011. "Property rights, optimal public enforcement, and growth," DEM Discussion Paper Series 11-18, Department of Economics at the University of Luxembourg.
    4. Tino Sanandaji & Peter T. Leeson, 2013. "Billionaires," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 22(1), pages 313-337, February.
    5. Maksim Belitski & Julia Korosteleva, 2011. "Entrepreneurial activity across European cities," ERSA conference papers ersa10p1646, European Regional Science Association.
    6. Arti Grover & Somik V. Lall & William F. Maloney, 2022. "Place, Productivity, and Prosperity," World Bank Publications - Books, The World Bank Group, number 36843.
    7. Szerb, László & Varga, Attila & Komlósi, Éva, 2017. "Gyors növekedésű vállalatok Magyarországon. Az innovatív, a rejtélyes és a virtuális gazellák [Fast-growing businesses in Hungary: The innovative, mysterious and virtual gazelles]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 476-506.
    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. Marcus Box & Karl Gratzer & Xiang Lin, 2023. "Self-employment, corruption, and property rights: a comparative analysis of European and CEE economies," SN Business & Economics, Springer, vol. 3(1), pages 1-29, January.
    10. 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.
    11. Rajeev K. Goel & Michael A. Nelson, 2020. "Presidential Versus Parliamentary Systems: Where Do Female Entrepreneurs Thrive?," Social Science Quarterly, Southwestern Social Science Association, vol. 101(5), pages 1773-1788, September.
    12. repec:elg:eechap:14395_27 is not listed on IDEAS
    13. Li Yaokuang & Wang Jing & Long Dan, 2019. "How do Institutions Inspire Ambitions? Differentiating Institutional Effects on Entrepreneurial Growth Intentions: Evidence from China," Entrepreneurship Research Journal, De Gruyter, vol. 9(4), pages 1-19, October.

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    More about this item

    Keywords

    start-ups; high-growth aspiration entrepreneurship; property rights; entrepreneurship;
    All these keywords.

    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 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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