Hasil untuk "Small and medium-sized businesses, artisans, handicrafts, trades"

John Guzek, Ashley Whillans

This research investigates the limited adoption of employee stock ownership plans (ESOPs) among small-to-medium sized businesses (SMBs) in the U.S. Through interviews with 30 SMB owners across various industries, we identify the key barriers to ESOP adoption as lack of time, money, and skills on the part of the owners. In doing so, the study suggests that a “shared ownership light” model, which involves sharing profits, information, and decision-making opportunities with employees, appears more feasible for SMBs than ESOPs. For SMBs that are interested in ESOP adoption, our research suggests that organizations providing employee ownership services could better assist SMBs by offering templatized models and best practices for profit-sharing plans, open-book management, and structured employee participation. The paper aims to broaden the discussion around shared ownership by considering a spectrum of options that have the potential to increase both value creation by and value-sharing among employees.

K. Vozniakovska

The article examines the implementation of European requirements for the regulation of state support of small and medium-sized businesses into Ukrainian legislation. The relevance of this article lies in the fact that Ukraine’s established obligations regarding the adaptation of legislation to European standards, which affect the regulation of state support for small and medium-sized businesses, have not yet been finalized.” At the same time, the relevance of supporting small and medium-sized businesses in the context of the National Economic Strategy until 2030 and deregulation reforms is reflected in the strategic goals of entrepreneurship development defined by these documents. This highlights the importance of creating a favorable business environment for small and medium-sized businesses aimed at increasing their competitiveness and innovation. Thus, the implementation of European requirements and the planning of actions to improve the mechanism of state aid to enterprises reflect the importance of the topic, since these measures are aimed at ensuring the compliance of Ukrainian legislation with European standards and at supporting the development of small and medium-sized businesses in the context of European integration. Ukraine seeks to deepen its economic ties with the European Union, and for this it is necessary to harmonize legislation to European standards. In particular, regulation of state support for small and medium-sized businesses in accordance with European norms can facilitate the access of Ukrainian companies to the European market. Small and medium-sized businesses in Ukraine play an important role in shaping the country’s economic potential. The implementation of European requirements for state support can contribute to the growth of this sector, creating more favorable conditions for the development of entrepreneurship, increasing competitiveness and attracting investments. In Ukraine, the first project of the Strategy for the Development of SMEs until 2027 is being implemented, aimed at solving the pressing problems of the sector, such as access to financing, logistics and personnel shortage. This initiative meets the requirements of the European Commission and is designed to ensure the integration of SMEs into the European market and increase their competitiveness. Changing Ukrainian legislation in accordance with European requirements can contribute to the harmonization of various sectors of the economy and increase the confidence of both domestic and foreign investors in business conditions in Ukraine.

Leslie Rodríguez-Valencia, Prosper Lamothe Fernández

Various corporate governance theories indicate that governance in small and medium-sized enterprises (SMEs) differs to that of larger corporations due to the ownership-management function within the organizational structure. This article provides empirical evidence of enhanced firm value in a sample of listed SMEs resulting from certain corporate governance mechanisms related to managerial and ownership concentration. The empirical analysis conducted in this paper is based on a panel data set consisting of 108 small and medium-sized public firms on the Spanish alternative stock exchange over a time frame of five years (2015-2019). The results suggest that CEO duality, the controlling shareholders, and the second largest shareholders all improve firm value. Conversely, the ratio of independent directors has a negative impact on firm value. These findings are robust to alternative model specifications such as dynamic panel estimators (Generalized Method of Moments -GMM-) and instrumental variable methods. Overall, we show that the governance configuration of listed SMEs can mitigate several of the central issues, such as agency problems, that large corporations face.

Charlie Wall-Andrews, Mary Elizabeth Luka

The authors conduct an empirical investigation of the national Equity X Program to understand not just the barriers that women face in becoming producers and developing business skills to move their career forward as artist entrepreneurs in Canada but also how emerging professionals feel about their perceived opportunities. The authors first situate the study within the literature on equity and inclusion in the creative sector and the importance of the music industry in this context. They then use an impact assessment framework that incorporates key indicators around equity and inclusion, aesthetic goals and approaches, and accessibility measures to help organize six rich clusters of data drawn from respondents (N=397). Using iterative open coding of open-ended responses to semi-structured questions, as well as critical discourse analysis, the authors examine the clustered data to illustrate or address these impact measures and to tease out the implications of each cluster of data. The analysis of the six clusters of data can help the sector (and their funders and policymaking supporters) better understand priorities for entrepreneurial capacity-building, including professionalization, technical skills, self-development, a sense of belonging through networking, entrepreneurial development, and emotional engagement in the sector. While the study does not suggest that systemic discrimination can be overcome any time soon, it does provide evidence of the ways in which women creatives in music believe that becoming more proficient in technical and business skills will help them; it also illustrates their optimism about being able to overcome discrimination. This generates a more complex understanding not just of some of the challenges faced by diverse women artist-entrepreneurs within Canada’s music ecosystem but also perceptions about how they aim to overcome these challenges. The article concludes by outlining future work required to ameliorate system-wide discrimination in arts entrepreneurship.

Ishaq Hacini, Khadra Mohammedi, Khadra Dahou

This study aims to identify the determinants of the capital structure of SMEs in Algeria during the period 2010-2018. Where a sample consists of 20 SMEs from the Public Works and Hydraulics sector. The study used financial leverage as the dependent variable and assets structure, profitability, liquidity, and size as independent variables. The study used Panel Data methods for testing the hypothesis. The results show that profitability, liquidity, and assets structure are negatively related to financial leverage, while size does not affect the financial leverage. The results indicate that SMEs in Algeria rely on their internal resources to finance their activities.

Rubén Molina-Sánchez, Domingo García-Pérez-de-Lema, Alejandra López-Salazar et al.

This work empirically analyzes the competitive factors that help make micro, small, and medium enterprises (MSMEs) successful. To do this, an empirical study with a sample of 614 companies in Guanajuato, Mexico, has been carried out. The results of the binary logistic regression analysis show that quality, technology, and innovation are the main variables that determine a company’s success. These findings could provide guidelines to help MSMEs improve their competitiveness, and they could help public administrations better support MSME growth.

Jonathan Kuuskoski

Jonathan Kuuskoski reviews William Deresiewicz’s The Death of the Artist: How Creators Are Struggling to Survive in the Age of Billionaires and Big Tech.  

Josef Hanson

This survey study explored the entrepreneurial dispositions and behaviors of public school music teachers in New York State to better understand the incidence of arts venturing in highly bureaucratic school environments. On a broader level, the study brings to light the need for entrepreneurship pedagogy tailored for school-based arts educators, who constitute a large segment of the creative economy yet are virtually ignored in the teaching and learning of entrepreneurial skills. From a sampling frame of 1,351 teachers, 576 responded to an online questionnaire for a response rate of 42.6%. The questionnaire was modeled after previously- validated scales and assessed respondents’ history, intentions, and perceptions related to entrepreneurship. Results showed that a large proportion of the teachers surveyed were already creating new musical ventures at their schools or planning to do so in the near future. Further, teachers who were familiar with the tenets of entrepreneurship, possessed business experience, or whose postsecondary education included entrepreneurship coursework, reported stronger entrepreneurial self-efficacy, better support from their schools for innovative projects, and a higher likelihood of launching new pedagogical endeavors in the near future. Findings of this study underscore the broad appeal of an entrepreneurial worldview across a variety of arts subdisciplines, suggesting the adoption of a wider and more inclusive scope for the enterprise of arts entrepreneurship education. 

Alfonso Rojo-Ramírez, César Augusto Palomino Rubio, Domingo García Pérez de Lema et al.

La valoración de empresas es una actividad cada vez más importante en un contexto globalizado, con empresas más dinámicas e internacionalizadas en busca de la creación de valor. La internacionalización afecta cada vez más a los países en desarrollo que se ven impelidos a tratar con operaciones de compra-venta internacionales y demandas de sus partners cada vez más especializadas, como es el caso de Colombia. Normalmente el método utilizado en la valoración es el descuento de los flujos de efectivo, lo que precisa el uso de tasas de actualización ad-hoc. Este trabajo tiene como objetivo principal analizar la aplicación de la tasa de descuento en la actividad de valoración de empresas en Colombia. Para ello se lleva a cabo un estudio exploratorio de carácter empírico, sobre una encuesta realizada a 32 expertos colombianos en valoración de empresas. Nuestras principales conclusiones revelan que los valoradores colombianos siguen pautas comunes a los valoradores internacionales, aunque se observa una gran dispersión a la hora de estimar la tasa de descuento. De esta forma el trabajo realizado puede ser de interés no solo para los profesionales de la valoración, sino también para los académicos y empresarios que estén inmersos en este proceso, ya que ofrece información sobre la realidad colombiana en un contexto internacional

A. Banu Goktan, Alka Gupta, Subhendu Mukherjee et al.

The link between social interaction and entrepreneurial activity has attracted considerable attention in the entrepreneurship literature. In this study, we focus on individual cultural values, shaped by interactions in the social space, as they relate to opportunity evaluation, a cornerstone of the entrepreneurial process. We test our predictions in India, a non-Western society that has sustained one of the highest rates of entrepreneurial activity in the world. Our findings suggest that value orientation of high power distance is negatively associated with opportunity evaluation whereas uncertainty avoidance, collectivism, and femininity are positively associated with opportunity evaluation.

Viviana Karela Moliné Alvarez

La generación de nuevos emprendimientos se ha convertido en uno de los objetivos de la política de desarrollo a nivel mundial, estos objetivos están orientados al desarrollo de las pequeñas y medianas empresas y otorgan especial importancia al emprendimiento en las zonas rurales. Hay muchos estudios sobre este tema, sin embargo, pocos examinan el significado del espíritu empresarial para las personas que lo llevan a cabo. Este artículo pretende describir las representaciones sociales sobre el significado del emprendimiento y la motivación empresarial rural de hombres y mujeres, al mismo tiempo, pretende comparar los resultados según género. La muestra estuvo compuesta por 21 mujeres y 21 hombres de una comuna rural de la Región de Araucanía en Chile. Se utilizó la técnica de redes semánticas naturales y los resultados muestran contenidos comunes de las representaciones sociales, por lo que se sostiene que no existen diferencias según género.

Laura Tack, Mark Simon, Ruihua Joy Jiang

Social entrepreneurship literature acknowledges that social capital is vital to the success of social entrepreneurship efforts and trust is integral to the process of building social capital. However, there has been limited research on trust itself in social entrepreneurship literature. This article aims to begin filling this gap by utilizing a specific social entrepreneurship initiative to illustrate the role of trust in social entrepreneurship efforts. It describes the model of trust developed by Sheppard and Sherman and the social entrepreneurship initiative, Global Brigades. The article discusses the relationships between the parties involved in the initiative and applies Sheppard and Sherman's model to these relationships. It illustrates the importance of trust to social entrepreneurship efforts, as well as the need for additional research regarding social entrepreneurship and trust.

Vishal K. Gupta, Dev K. Dutta, Grace Guo et al.

Academic inquiry into entrepreneurial phenomena has had a rich history over several decades and continues to evolve. This editorial draws attention to the classics: seminal articles that make profound contributions to the development of an academic field in entrepreneurship studies. We focus on the formative years of entrepreneurship research, specifically the 1970s and 1980s, to identify classics using a key informant approach that surveys members of the journal editorial board. Each nominated classic is introduced and discussed by an editorial board member, with particular focus on research opportunities that may be pursued going forward. Analyzing classics allows for the recognition of substantive advances in entrepreneurship research and provides an opportunity to delve into the academic progress achieved in understanding entrepreneurial phenomena.

E. Andrew Taylor, Paul Bonin-Rodriguez, Linda Essig

As the first peer reviewed research journal in the field of arts entrepreneurship, Artivate: A Journal of Arts Entrepreneurship takes its role as a framer of the discourse in and around arts entrepreneurship seriously. To advance that discourse, in addition to the articles and book reviews that have been regular features of Artivate, we have invited members of our editorial board and staff to contribute short think pieces. For these pieces we asked contributors to consider open-ended questions to which they could respond in whole or in part: what is their position in relation to arts entrepreneurship; how is arts entrepreneurship situated in relation to other disciplines or fields; what are the problems we are grappling with as scholars, practitioners, teachers, and artists; and what are the research questions we are attempting to answer individually or as a field? Following, you will find responses from: Andrew Taylor, Associate Professor of arts management at American University; Paul Bonin-Rodriguez, Assistant Professor of performance as public practice at UT-Austin and author of Performing Policy (reviewed in this issue); and Artivate's publisher and co-editor, Linda Essig, Evelyn Smith Professor and director of the Pave Program in Arts Entrepreneurship at Arizona State University.

Rachel A. Addis, Marko Grünhagen

Rural consumers’ in- and out-shopping intention has been a research topic for many years. This study investigates the relationship between social identity and rural consumersʼ intent to shop within their local community, along with a number of moderating demographic variables. Using a sample of respondents from the Midwest, this study found a significant and positive relationship between rural consumers who socially identify with people in their local community and their intent to inshop. The influence of several demographic moderators is also explored, and implications for practice and future re-search are discussed.

Gary Beckman

This issue focuses on arts entrepreneurship pedagogy from a variety of perspectives. Readers will see not only the integration of topics not presently considered in the literature, but also how the field can accommodate a diverse set of inputs. When speaking about arts entrepreneurship, most consider students as the recipients of our efforts. Educators, however, can benefit from an interdisciplinary examination of what it is we teach and how we might do so.

Giles Jackson, Randy Boxx

Many entrepreneurial firms risk falling into a cash flow “Valley of Death”‐the stage of a young firmʼs life when seed funding is running dry but the firm has yet to secure sufficient additional funding to carry it through to product commercialization.This is particularly true in the nascent cleantech sector, where investments are often complex and capital intensive. Drawing on an in-depth interview with seasoned entrepreneur Brian Cunningham, CEO of the Wave Energy Conversion Corporation of America, this article explores the role of persistence in entrepreneurship, distinguishing between “calculated” and “blind” persistence.

Ferda Erdem, Sukru Erdem

PurposeThe aim of this study is to determine the context of short‐ , medium‐ and long‐term functional strategies of small‐ and middle‐sized family businesses carrying on activities in different sectors, as well as to discuss the findings from the point of view of the strategic orientations required by global competition.Design/methodology/approachThe data of this research, having explorative characteristics, were gathered from the 36 owners‐managers (from 111 people) who were leaders in constituting the strategies of their businesses. The survey used in the study consists of 32 items regarding management/human resource management, marketing, production, and finance functions. The data were evaluated with the descriptive and variance analyses.FindingsThe paper finds that the enterprises participating in this study apply or plan to apply, in the short term, institutionalism and customer‐focused strategies. However, financial problems limit the attempts for developing and growing, which creates a risk for the life cycle of the businesses which cannot grow up to the right scale in the right time. Another major concern pointed out in this study is that the enterprises whose owners/managers are the members of any commercial and social organization respond to innovations and change more rapidly.Research limitations/implicationsOne of the main limitations of the study is that the owner/manager perceptions were the only source of data. The lack of a measure of the efficiency level of functional strategies and practices or performance of enterprises is the second limitation. On the other hand, the small sample size does not allow generalizations to be made.Originality/valueThis study evaluates the potential of strategic management of small and medium‐sized family businesses

M. Yaqub Mirza

Interview of M. Yaqub Mirza by Miles K. Davis. Dr. Mirza attributes both his personal and business success to following Islamic principles.This interview outlines the Islamic principles he uses to guide his investment in new ventures and how those same principles shape his management style and attitude toward corporate social responsibility.

Bonita L. Betters-Reed, Bonita L. Betters-Reed

When we take the lens of race, ethnicity, gender, and class to the collected academic work on women business owners, what does it reveal? What do we really know? Are there differing definitions of success across segments of the women businessowner demographics? Do the challenges faced by African American women entrepreneurs differ from those confronting white female entrepreneurs? Do immigrant female women businessowners face more significant institutional barriers than their counterparts who have been U.S. citizens for at least two generations? Are there similar reasons for starting their businesses?