The Impact of Entrepreneurial Capital of The Region on Small Business Activities
https://doi.org/10.34020/2073-6495-2019-3-119-131
Abstract
The aim of the research is the estimation of three-factor production functions, describing the dependence of the total turnover of small businesses and micro businesses on the wages of their staff, capital investment and existing regional entrepreneurial capital. The research was based on the official statistical information regarding 80 regions of Russia for 2015. High quality approximation of initial data using three-factor production functions was proved. The new tools offered for the estimation of production functions are of scientific and practical importance.
About the Author
Yu. S. Pinkovetskaya
Ulyanovsk State University
Russian Federation
Russian Federation
Pinkovetskaya Yuliya S., PhD in Economics, Associate Professor
Ulyanovsk
References
1. Indikatory innovacionnoj dejatel’nosti: 2018: statisticheskij sbornik / N.V. Gorodnikova, L.M. Gohberg, K.A. Ditkovskij i dr. M.: NIU VShJe, 2018. 344 p.
2. Pin’koveckaja Ju.S. Modeli ob#emov proizvodstva sovokupnostej malyh i srednih predprijatij v sub#ektah Rossijskoj Federacii // Mir novoj jekonomiki. 2016. № 2. P. 113–118.
3. Razvitie malogo i srednego predprinimatel’stva. Zarubezhnyj opyt. M.: MSP Bank. Dekabr’, 2015. 23 p.
4. Chepurenko A.Ju. Sovmeshhaja universal’nye koncepcii s nacional’noj specifikoj: podderzhka malogo i srednego predprinimatel’stva // Voprosy gosudarstvennogo i municipal’nogo upravlenija. 2017. № 1. P. 7–30.
5. Acs Z., Astebro T., Audretsch D., Robinson D. Public policy to promote entrepreneurship: a call to arms // Small Business Economics. 2016. № 47. P. 35–51. doi:10.2139/ssrn.2728664.
6. Acs Z., Audretsch D. The International Handbook of Entrepreneurship. Dordrecht: Kluwer Academic Publishers, 2003. 678 p.
7. Antoncic B. Impacts of diversification and corporate entrepreneurship strategy making on growth and profitability: a normative model // Journal of Enterprising Culture. 2006. № 14 (01). P. 49–63.
8. Audretsch D., Bonte W., Keilbach M. Entrepreneurship capital and its impact on knowledge diffusion and economic performance // Journal of Business Venturing. 2008. Vol. 23. № 6. P. 687–698. doi:10.1016/j.jbusvent.2008.01.006.
9. Audretsch D. Innovation and Industry Evolution. NY: MIT Press, 1995. 220 p.
10. Audretsch D., Keilbach M. Entrepreneurship capital and economic performance // Regional Studies. 2004. № 38 (8). P. 949–959.
11. Baumol W.J. Good capitalism, bad capitalism and the economics of growth and prosperity. New Haven: Yale University Press, 2007. 334 p.
12. Brock W.A., Evans D. Small business economics // Small Business Economics. 1989. № 1. P. 7–20. doi:10.1007/BF00389913.
13. Chang E.P.C., Chrisman J.J., Kellermanns F.W. The relationship between prior and subsequent new venture creation in the United States: A county level analysis // Journal of Business Venturing. 2011. № 26 (2). P. 200–211.
14. Chang E.P.C., Misra K., Memili E. Expanding the notion of entrepreneurship capital in American counties: A panel data analysis of 2002–2007 // Journal of Developmental Entrepreneurship. 2012. № 17 (3). September. P. 1–18. doi:10.1142/S108494671250015X.
15. Decker R., Haltiwanger J., Jarmin R., Miranda J. The Role of Entrepreneurship in US Job Creation and Economic Dynamism // Journal of Economic Perspectives. 2014. № 28 (3). P. 3–24. doi:10.1257/jep.28.3.3.
16. Demartini P., Paoloni P. Defining the Entrepreneurial Capital Construct // Chinese Business Review. 2014. November. Vol. 13. № 11. P. 668–680. doi:10.17265/15371506/2014.11.002.
17. Feldman M., Lanahan L., Miller J. Inadvertent infrastructure and regional entrepreneurship policy // In M. Fritsch (Ed.), Handbook of research on entrepreneurship and regional development. Cheltenham: Edward Elgar, 2011. P. 216–251.
18. Grewal R., Tansuhaj P. Building Organizational Capabilities for Managing Economic Crisis: The Role of Market Orientation and Strategic Flexibility // Journal of Marketing. 2001. № 65. P. 67–80.
19. Harris R.J. A primer of multivariate statistics. New York: Academic Press, 1985. 546 p.
20. Hofstede G., Noorderhaven N.G., Thurik A.R., Wennekers A.R.M., Uhlaner L., Wildeman R.E. Culture’s Role in Entrepreneurship // in J. Ulijn and T. Brown (eds), Innovation, Entrepreneurship and Culture: The Interaction between Technology, Progress and Economic Growth. Brookfield, UK: Edward Elgar, 2002. 220 p.
21. Lopez L.O., Hiebl M.R.W. Management Accounting in Small and Medium-sized Enterprises: Current Knowledge and Avenues for Further Research // Journal of Management Accounting Research. 2015. Vol. 27. № 1. P. 81–119.
22. Minniti M. Entrepreneurial alertness and asymmetric information in a spin-glass model // Journal of Business Venturing. 2004. № 19 (5). P. 637–658. doi:10.1007/978-14419-1191-9_9.
23. Romer P.M. Increasing Returns and Long-Run Growth // Journal of Political Economy. 1986. № 94 (5). October. P. 1002–1037.
24. Stenholm P., Acs Z.J., Wuebker R. Exploring country level institutional arrangements on the rate and type of entrepreneurial activity // Journal of Business Venturing. 2013. № 28. P. 176–193.
25. Van Praag C., Versloot P. What is the value of entrepreneurship? A Review of Recent Research // Small Business Economics. 2007. № 29 (4). P. 351–382. doi:10.1007/s11187007-9074-x.
26. Wennekers S., Uhlaner L., Thurik R. Entrepreneurship and its conditions: a macro perspective // International Journal of Entrepreneurship Education. 2002. № 1 (1). P. 25–64.
27. Wiklund J., Shepherd D. Knowledge Based Resources, Entrepreneurial Orientation and Performance of Small and Medium Sized Businesses // Strategic Management Journal. 2003. № 24. P. 1307–1314. doi:10.1002/smj.360.
28. Zahra S.A. Predictors and Financial Outcomes of Corporate Entrepreneurship: An Exploratory Study // Journal of Business Venturing. 1991. № 6. P. 259–285.
29. Rossija v cifrah. 2016: Krat. stat. sb. M.: Rosstat, 2016. 543 p. URL: http://www.gks.ru/free_doc/doc_2016/rusfig/rus16.pdf (05.03.2019).
30. Federal’nyj zakon «O razvitii malogo i srednego predprinimatel’stva v Rossijskoj Federacii» ot 24.07.2007, № 209-FZ. Sprav.-pravovaja sistema «Konsul’tantPljus» (05.03.2019).
31. Federal’naja sluzhba gosudarstvennoj statistiki. Itogi sploshnogo nabljudenija za dejatel’nost’ju sub#ektov malogo i srednego predprinimatel’stva za 2015 god. URL: http://www.gks.ru/free_doc/new_site/business/prom/small_business/itog2015/itogspn2015.html (05.03.2019).
Review
For citations:
Pinkovetskaya Yu.S. The Impact of Entrepreneurial Capital of The Region on Small Business Activities. Vestnik NSUEM. 2019;(3):119-131. (In Russ.) https://doi.org/10.34020/2073-6495-2019-3-119-131
Email this article 
