Papers by José Ernesto Amorós
Resumen El objetivo de este estudio es verifi car cómo infl uye en individuos, que no poseen una ... more Resumen El objetivo de este estudio es verifi car cómo infl uye en individuos, que no poseen una empresa, ciertas condiciones de un marco socio-cultural sobre la probabilidad para que se conviertan en emprendedores. También se analiza el impacto de otras variables demográfi cas. En este estudio se generó una base longitudinal con la que se aplicó un modelo logit ajustado para eventos extraños utilizando la encuesta en Chile del Global Entrepreneurship Monitor, GEM, para los años 2007 al 2010. Los resultados indican que un individuo que tiene presencia de role models (ejemplos de emprendimiento) y percibe menos miedo social al fracaso explican parte de propensión a la creación de empresas. Abstract The objective of this study is to verify how some elements of the Chilean socio-cultural framework impacts on the likelihood to be an entrepreneur. Other demographic variables were included in this study. To conduct this research, a pool data set was generated with the Chilean Global Entre...
El GEM en Chile, durante el ciclo 2013 ha utilizado como muestra a 6703 personas mayores de 18 añ... more El GEM en Chile, durante el ciclo 2013 ha utilizado como muestra a 6703 personas mayores de 18 años. Para constituir esta muestra se realizó un muestreo representativo a nivel nacional mas muestras adicionales regionales de la Región de Tarapacá, Región de Antofagasta, Región de Atacama, Región de Coquimbo, Región de Valparaíso, Región del Biobío, Región de la Araucanía, Región Metropolitana, Región de Arica y Parinacota y por primera vez un análisis particular en la comuna de Peñalolén. Adicionalmente se realizó una consulta a un total de 422 informantes claves considerados expertos en emprendimiento provenientes de diferentes sectores, actividades y regiones.
This paper explores the state of formal and informal equity sources currently available for finan... more This paper explores the state of formal and informal equity sources currently available for financing entrepreneurial activity in Chile. By integrating theoretical perspectives regarding formal and informal equity funding and information gathered from the Global Entrepreneurship Monitor (GEM) surveys, the paper argues that despite the favorable environment existing in Chile for equity investment, these markets are still incipient and strongly dependent on public policies. In this respect it is proposed that public intervention to address equity gaps in Chile should also adopt a demand-side perspective, aimed at improving the quality of investment opportunities, and should incorporate a geographical dimension, considering the particularities and financial needs of non-metropolitan regions.
Los datos utilizados en este estudio provienen del Global Entrepreneurship Monitor (GEM), consorc... more Los datos utilizados en este estudio provienen del Global Entrepreneurship Monitor (GEM), consorcio que el año 2009 fue constituido por equipos de investigación de los siguientes países: Alemania, Venezuela y Yemen. Los nombres de los miembros de los equipos nacionales, el equipo coordinador global y los auspiciadores financieros, están publicados en el Global Entrepreneurship Monitor 2009 Report, el que puede ser descargado en línea en www.gemconsortium.org. Agradecemos a todos los investigadores y auspiciadores que hicieron posible esta investigación.
This research focuses on one of the critical determinants of entrepreneurship in developing and d... more This research focuses on one of the critical determinants of entrepreneurship in developing and developed countries: the quality of government institutions. In this empirical exercise we present an update to other attempts to identify the relationship between rates and types of entrepreneurial activities with different variables relating to the quality of institutions. We use a cross-section time-series approach on data from the Global Entrepreneurship Monitor (GEM) database covering the 2000-2009 period. We examine "opportunity based" and "necessity based" rates of entrepreneurship, where the latter is dominant in developing countries. Government measures come from the World Bank Worldwide Governance Indicators (WGI) database. Several econometric specifications are used to explore the relationship between individual indicators of the quality of institutions and the prevalence rates of entrepreneurs. Results indicate that greater economic development associated w...
We know that entrepreneurs - at least those driven by opportunities - can contribute to economic ... more We know that entrepreneurs - at least those driven by opportunities - can contribute to economic growth, productivity improvements and competitiveness in national economies.. But do they contribute to happiness on the country level? In other words, does the happiness of nations depend on its entrepreneurs? And what about happy nations - are they better places for entrepreneurs to start-up new businesses? In this paper we survey the literature on entrepreneurship and happiness, and use various data sources, including from the Global Entrepreneurship Monitor, to find tentative evidence of an inverse U-shape relationship between (opportunity) entrepreneurship and national happiness. We find little evidence that a nation's happiness drives early-stage entrepreneurial activity but we do find evidence that opportunity-motivated entrepreneurs in happier nations may be less concerned with high firm growth. Thus we conclude that opportunity-motivated entrepreneurship may contribute to a ...
Research on performance and business success has captured attention of many researchers in the fe... more Research on performance and business success has captured attention of many researchers in the female entrepreneurship field. Nevertheless, there is still enough controversy on how to measure performance and which indicators should be taken into account, mainly when there are comparative studies between men and women entrepreneurs. In fact, controversy has arisen regarding if companies created by women have a higher rate of failure or lower performance in comparison with those created by men (Brush, 1992; Fischer et al.,1993; Kalleberg & Leicht, 1991; Srinivasan et al., 1994). Performance studies have used different variables to measure it, in a great majority, they have only been focused on measuring economic performance (Sexton & Robinson, 1989; Watson, 2002; Watson & Robinson, 2003) without considering other type of measurements, that can be important for women entrepreneurs, apart from the economic ones. Studies that have delved into this topic, analyzed others aspects than econ...
Whether policies can indeed improve entrepreneurship in developing countries, and whether more an... more Whether policies can indeed improve entrepreneurship in developing countries, and whether more and better entrepreneurship will necessarily lead to better development outcomes, have long been subject to controversy. At the basis of this controversy are divergent views with respect to the nature and contribution of entrepreneurship in developing countries. One the one hand are those who see the predominantly micro and small nature of firms as being more survivalist and less important for growth and development, and who warns have warns ‘not to romanticize these penniless entrepreneurs’ (Banerjee and Duflo 2007: 162). On the other had an increasing number of scholars see the kind of small scale entrepreneurship dominating in developing countries as important for poverty alleviation, growth and innovation. In this paper we wish to add two fresh perspectives to help clarify the debate. Thus we argue that development is a multi-dimensional concept, and that the interest ought to be not o...
International Entrepreneurship and Management Journal
This research aims to quantify the importance of a country’s entrepreneurship level in terms of i... more This research aims to quantify the importance of a country’s entrepreneurship level in terms of its competitiveness rates. Our hypothesis is that those countries entrepreneurship growth rates increase their competitiveness indicators and that this entrepreneurial improvement could be a key factor in reaching the next stage of development. We establish this relationship using a longitudinal database of Latin American countries that participated in the Global Entrepreneurship Monitor (GEM) and the Global Competitiveness Reports of the World Economic Forum (WEF) from 2001 to 2006. GEM and WEF construct aggregated indexes using several variables to rate each country’s entrepreneurship activity and competitiveness development. We use a discriminant analysis to identify various countries’ competitiveness subgroups and show how each country’s entrepreneurship rates have weight in different stages of competitiveness, placing a special emphasis on Latin America. Our results suggest that Lati...
Technovation
This research is particularly concerned with public policy instruments which may help to accelera... more This research is particularly concerned with public policy instruments which may help to accelerate the development and diffusion of sustainable innovations and support local economic development. While sustainable technology sectors are in high demand, firms still face significant barriers in developing and diffusing their technologies in regions throughout the world (Hoff, 2012). This area has been less explored in the extant research yet recent experiences suggest that supply side tools may not always have positive benefits for supporting clean technology evolution, or for taxpayers. Leveraging innovation policy and technology life cycle literature, we develop a model of demand-side policy instruments which could be applied at different stages of the technology s-curve in order to accelerate the adoption of sustainable technologies. Implications for managers, public policy actors and researchers are considered.
Journal of Business Economics and Management
Informal investment represents one of the main sources to finance early-stage new ventures. Despi... more 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.
International Entrepreneurship and Management Journal
The aim of this article is to analyze the factors related to the early internationalization of ne... more The aim of this article is to analyze the factors related to the early internationalization of new firms in Chile. We grouped the internationalization driver factors into three categories: individual, organizational, and firm-environmental factors. Using a sample of 374 entrepreneurs from Global Entrepreneurship Monitor data and performing a logistic regression model, we found that owner-manager’ high educational levels, opportunity-oriented motivation, new technology use, and activities related to extractive sectors (e.g., farming, forestry, fishing, and mining) contribute to a higher likelihood of early firm internationalizing. The implications for theory and practice are discussed.
Small Business Economics
Do the presence and nature of entrepreneurship impact on national happiness, and are nations with... more Do the presence and nature of entrepreneurship impact on national happiness, and are nations with happy citizens better for entrepreneurs to start new businesses? To provide tentative answers we survey the literature on entrepreneurship and subjective well-being and use various data sources to uncover the first evidence of the relationship between entrepreneurship and happiness at the country level. We find that opportunity-motivated entrepreneurship may contribute to a nation’s happiness but only to a certain point, at which the effects of happiness begin to decline. Moreover, our results suggest that a nation’s happiness affects early-stage opportunity-driven entrepreneurial activity.
The objective of this article is to analyze the factors that affect entrepreneurs’ early internat... more The objective of this article is to analyze the factors that affect entrepreneurs’ early internationalization in the Chilean context. We grouped the internationalization driver factors into three categories: individual, organizational, and firm environmental factors. Using a sample of 374 early stage entrepreneurs and performing a logistic regression model, we find that entrepreneurs’ high educational levels, opportunity-oriented motivation, using new technologies, and activities related to extractive sectors (e.g., farming, forestry, fishing, and mining) contribute to a higher likelihood of firms internationalizing early. The implications for theory and practice are discussed.
ABSTRACT Entrepreneurship is often expected to have a positive effect on economic progress throug... more ABSTRACT Entrepreneurship is often expected to have a positive effect on economic progress through its stimulating influence on innovation, competition and industry dynamics. At the same time, entrepreneurship is a multi-dimensional concept, involving many different actors and several levels of analysis. One important distinction contrasts independent (early-stage) entrepreneurial activity by individuals owning and managing a business for their own account and risk, on the one hand, to opportunity pursuit within existing organizations, also known as entrepreneurial employee activity, corporate entrepreneurship or intrapreneurship, on the other. This special topic study , based on the GEM 2011 database, focuses on entrepreneurial employees and shows that these individuals represent a relevant dimension of entrepreneurship revealing interesting patterns across the globe.
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Papers by José Ernesto Amorós