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Demougin, D. Schade, C. (Eds.) (2006). An Economic Perspective on Entrepreneurial Decision Making. First Haniel-Kreis Meeting on Entrepreneurship Research. Duncker & Humblot. https://doi.org/10.3790/978-3-428-52186-9
; Demougin, Dominique and Schade, Christian. An Economic Perspective on Entrepreneurial Decision Making: First Haniel-Kreis Meeting on Entrepreneurship Research. Duncker & Humblot, 2006. Book. https://doi.org/10.3790/978-3-428-52186-9
Demougin, D, Schade, C (eds.) (2006): An Economic Perspective on Entrepreneurial Decision Making: First Haniel-Kreis Meeting on Entrepreneurship Research, Duncker & Humblot, [online] https://doi.org/10.3790/978-3-428-52186-9

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An Economic Perspective on Entrepreneurial Decision Making

First Haniel-Kreis Meeting on Entrepreneurship Research

Editors: Demougin, Dominique | Schade, Christian

Entrepreneurship, Marketing, Innovation, Vol. 2

(2006)

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Abstract

This volume is dedicated to the first Haniel-Kreis, which took place in Berlin from the 4th to the 8th of January, 2005. The almost weeklong event was characterized by stimulating bilateral meetings, various scientific presentations, and intense discussions. One commonality among the authors is a growing interest in the application of economic models and econometrics to the field of entrepreneurship. Entrepreneurship, a comparatively young field of research, generates a growing interest by researchers from various fields including economics, psychology, sociology, operations research, and management (to name only the most influential). The Kreis focuses on an economic perspective by emphasizing expertise from behavioral economics, operations research, and management. This book addresses pivotal areas of entrepreneurial decisions. The topics include the decision to start a business and the identification and analysis of the factors, environments, and prerequisites that led to this decision, such as age (Levesque and Minniti), perceptions about personal ability (Köllinger et al.), and the institutional environment in a country (Choi and Phan). A related question is the decision on succession in a family business and the organization of the transfer from one generation to the next (Phan et al.). Finally, the design of an incentive compatible wage scheme that covers the area of entrepreneurial decision-making (Demougin and Fluet) is discussed.

Table of Contents

Section Title Page Action Price
Preface 5
Contents 9
Young Rok Choi and Phillip H. Phan: A Generalized Supply/Demand Approach to National Entrepreneurship: Examples from the United States and South Korea 11
Abstract 11
1. Introduction 11
2. A general supply/demand model of entrepreneurship 12
3. Factors driving the supply and demand for entrepreneurship 15
a) Macro factors driving entreneurial opportunities 16
(1) Technology 16
(2) Economic structure 17
b) Macro factors driving the supply of entrepreneurial effort 18
(1) Demand for labor: Unemployment 18
(2) Supply of labor: Barriers to labor mobility 19
c) Macro factors driving the demand for entrepreneurship 19
(1) Availability of venture capital 19
4. Methods 20
a) Data and variables 20
b) Control variables 22
c) Analysis 23
5. Results 23
6. Discussions and conclusions 28
References 31
Maria Minniti: A Generalized Supply/Demand Approach to National Entrepreneurship: Examples from the United States and Korea. Comment 35
References 38
Dominique Demougin and Claude Fluet: Group vs. Individual Performance Pay When Workers are Envious 39
Abstract 39
1. Introduction 39
2. The model 40
3. Individual bonus 41
4. Group bonus 43
5. Comparison 44
6. Conclusion 46
References 47
Christian Schade: Group vs. Individual Performance Pay When Workers are Envious. Comment 49
References 50
Philipp Koellinger, Maria Minniti and Christian Schade: Characteristics of Entrepreneurs Across Countries - Evidence from a CART Approach 51
Abstract 51
1. Introduction 51
2. Theoretical background 52
3. The data 54
4. CARTs 57
5. Discussion 62
7. Implications for future research 64
References 65
Moren Lévesque: Characteristics of Entrepreneurs Across Countries - Evidence from a CART Approach. Comment 73
References 75
Moren Lévesque and Maria Minniti: Age, Independence and Entrepreneurial Choice 77
Abstract 77
1. Introduction 77
2. Theoretical background 79
3. A model of entrepreneurial choice 81
a) Model formulation 81
b) Optimal Time Allocations 84
c) Sensitivity of time allocation 86
4. Implications and extensions 87
References 89
Appendix 92
Claude Fluet: Age, Independence and Entrepreneurial Choice. Comment 93
References 96
Phillip H. Phan, John E. Butler and Soo-Hoon Lee: Corporate Governance and Management Succession in Family Business 97
Abstract 97
1. Introduction 97
2. Literature review 98
a) Succession planning 99
b) Preparation of the successor 100
c) The transition process 101
d) Succession and business strategy 101
e) Performance and effectiveness 102
3. The research model 102
4. Methods 104
a) Variables 104
b) Data 106
5. Results 106
a) Sample characteristics 106
6. Discussion and conclusion 110
References 111
Dominique Demougin: Corporate Governance and Management Succession in Family Business. Comment 117
References 119
Authors 121