Description
Universitat Autònoma De Barcelona
4
TH
EDP ALUMNI WORKSHOP 2-3 APRIL, BARCELONA
Universitat Autònoma de Barcelona
Chairperson:
J osé Mª Veciana
Coordinator:
Christian Serarols
Organizing Committee:
J oan Lluís Capelleras
Karen Murdock
Àlex Rialp
David Urbano
Yancy Vaillant
J oaquim Vergés
Conference venue:
Universitàt Autònoma de Barcelona (UAB)
Departament d'Economia de l'Empresa
Facultad de Ciencias Económicas y Empresarias
Bellaterra (Barcelona)
1. Background
The European Doctoral Programme in Entrepreneurship and Small Business Management (EDP)
is celebrating its 20th anniversary in 2009. Over these years the programme has grown and
provided post-graduate education to over 175 participants from 52 different countries. In order
to foster resources networking, this programme needs to mobilize staff and its alumni
worldwide. Thus the 4th EDP Workshop (as well as the previous ones) is set against this
backdrop and serves the need to become a forum for discussing research conducted at the
frontiers of entrepreneurship and small business management, especially by EDP Alumni. In
addition to the academic necessity for such regular exchange, this workshop serves the need of
the EDP Alumni and Faculty to build and maintain informal contacts so essential to launch and
carry out joint research.
2. Final Programme
Thursday, April 2nd
12:00 – 14:00 Registration [Sala d’actes]
15:00 – 15:30 Welcome by [Sala d’actes]
J osé Mª Veciana, EDP Director, UAB
J oaquim Vergés, EDP Director, UAB
Christian Serarols, EDP Network Coordinator, UAB
Friederike Welter, ECSB President
15:30 – 16:30 Keynote Speech by Allan Gibb, University of Durham [Sala d’actes]
“Carrying Entrepreneurial Doctoral Programmes forward. Is the case for
making the doctoral process itself more entrepreneurial? If so what does it
mean in practice?”
16:30 – 18:00 Parallel Sessions
Session 1 [Seminari B]
Chairman: Friederike Welter
Karen A. Murdock: The effect of public policy for entrepreneurship and
innovation in EU’s managed and entrepreneurial economies.
Miercea Epure, Diego Prior and Christian Serarols: Evaluating the
efficiency of University support units of spin-off creation.
Pablo Migliorini, Christian Serarols, and Andrea Bikfalvi: Overcoming
critical junctures in spin-offs companies from non-elite universities.
2
Session 2 [Seminari C]
Chairman: J osef Mugler
J uan S. Federico, Hugo Kantis and Rodrigo Rabetino: Exploring the
determinants of young SMEs’ Growth: Evidence from contrasting regions.
Pusanisa Thechatakerng: Determinants of micro-entrepreneurs
innovation.
J uan S. Federico, Hugo Kantis, Alex Rialp and J osep Rialp: Does
entrepreneurs’ human and relational capital affect early internationalization?
A cross regional comparison.
18:00 – 19:00 EDP alumni meeting [Sala d’Actes]
Friday, April 3
rd
09:00 – 10:00 Keynote Speech by David Smallbone, Kingston University [Sala d’Actes]
“Entrepreneurship in China”
10:00 – 10:15 Coffee break
10:15 – 11:45 Case Study Workshop by Thomas Cooney, [Sala d’Actes]
Dublin Institute of Technology
11:45 – 13:15 Round Table on “Entrepreneurship in turbulent times”. [Sala d’Actes]
Friederike Welter (Chairmain)
Hans Crinjs
J osef Mugler
David Smallbone
David Storey
13:15 – 15:00 Lunch
15:00 – 16:45 Parallel Sessions
Session 3 [Seminari B]
Chairman: Asko Miettinen
Markus Imgrund: Pathways out of insolvency: going concern and
turnaround process of insolvent small and medium size enterprises.
Tuija-Liisa Pohja: Searching for the entrepreneur – the role of social norms
among entrepreneurs.
J oao Leitao and Mario Franco: Non-economic organizational performance
of SMEs: is there a rational for a cognitive entrepreneur?
3
Session 4 [Seminari C]
Chairman: Christian Serarols
Ricardo Hernández and Pilar Pérez: Entrepreneurial culture and
education: observation centered around students in secondary school and
higher-level professional training.
Pia Heike J ohansen: Networking and being social – two ways of interacting
with two different outcomes.
Ricardo Hernández: What is the next program and what is it designed to
do?
Liyis Gómez, J ose Mª Veciana and David Urbano: Explaining the
entrepreneurial activity: the influence of institutional factors”
16:45 – 17:00 Coffee break
17:00 – 18:00 Keynote Speech by David Storey, Warwick University [Sala d’Actes]
“Do entrepreneurs really learn?”
18:00 – 18:30 Closing session [Sala d’Actes]
20:30 – 23:00 Dinner
Alba Granados Restaurant
Calle Enric Granados, 34
Barcelona
Tel. 93 454 61 16
4
3. List of Participants
Surname First name Email
Adeyeye Modupe [email protected]
Aliaga Isla Rocio del Pilar [email protected]
Batista Rosa María [email protected]
Bayan Manoj [email protected]
Blanco Luis [email protected]
Boix Rafael [email protected]
Capelleras J oan-Lluís [email protected]
Castillo Sandra [email protected]
Cooney Thomas [email protected]
Crijns Hans [email protected]
Epure Mircea [email protected]
Federico J uan [email protected]
Gibb Allan [email protected]
Gómez Núñez Liyis [email protected]
Gómez Araujo Eduardo J osé [email protected]
González Alexandra [email protected]
Hernández Ricardo [email protected]
Hormiga Esther [email protected]
Hu Mingyue [email protected]
Imgrund Markus [email protected]
J ohansen Pia Heike [email protected]
J ungbauer Arthur [email protected]
Kamal Walid [email protected]
Kantis Hugo [email protected]
Knefati Fadi [email protected]
Leitao J oao [email protected]
Loaiza Mileidy [email protected]
Martínez Mateo J esús [email protected]
Martins Izaias [email protected]
Miettinen Asko [email protected]
Migliorini Pablo [email protected]
Mira Ignacio [email protected]
Mohd Yusof Siti Norwardatulaina [email protected]
Mugler J osef J [email protected]
Muharam Farrah Merlinda [email protected]
Murdock Karen [email protected]
Nagpaul Vivek [email protected]
Othman Azrina [email protected]
Pohja Tuija-Liisa [email protected]
Procher Vivien [email protected]
Rabetino Rodrigo [email protected]
Ramos Raymundo [email protected]
Raposo Mario [email protected]
Rialp Alex [email protected]
Ruiz García Guillermo Rafael [email protected]
Serarols Christian [email protected]
Smallbone David [email protected]
5
Stefan Melania [email protected]
Storey David [email protected]
Thechatakerng Pusanisa [email protected]
Torres Rosalina [email protected]
Urbano David [email protected]
Uribe Felipe [email protected]
Valls J aume [email protected]
Veciana J ose Mª [email protected]
Vedovoto Graciela [email protected]
Vergés J oaquim [email protected]
Wang Lina [email protected]
Wang Ivy Yiwen [email protected]
Welter Friederike [email protected]
Wen Wen [email protected]
Zúñiga Gabriel [email protected]
6
4. Abstracts
1. Murdock, K. “THE EFFECT OF PUBLIC POLICY FOR ENTREPRENEURSHIP AND
INNOVATION IN EU’S MANAGED AND ENTREPRENEURIAL ECONOMIES”
The paper reports partial results from a study with three main objectives. The first is to
separate European Union member countries of into managed or entrepreneurial economies. The
next objective is to identify evidence of four trade-offs in public policy for entrepreneurship and
innovation between managed and entrepreneurial economies. And finally to establish what kind
of impact these specific areas of public policies have on entrepreneurship and innovation
activities in each group of economies.
The countries are categorized as managed and entrepreneurial economies based on indicators
that signal innovation and technological transformation, which are at the heart of the
entrepreneurial economy. The four trade-offs in public policy form part of the characteristics
which differentiate managed from entrepreneurial economies as outlined by Audretsch and
Thurik, (2001). The results shows that knowledge jobs, the percentage of GDP invested in
research and development and the numbers of patents granted are some of the most
significant factors that separate the economies. The number of researchers and the foreign
direct investment intensity (FDI) are however not important in this process of separation.
Regarding the trade-offs in public policy, the analysis reveals that evidence of the trade-offs in
public policy is strongest for regulation versus stimulation, targeting output versus targeting
input and the system of finance (debt versus risk finance). It is less so in the case of national
versus regional policy. The trade-offs can be readily identified between the two groupings of
economies especially at the extreme ends. There is however some countries in the middle,
where the differences are less distinct.
Keywords: institutions; public policy; managed economies; entrepreneurial economies;
entrepreneurship; innovation; regulations; regional policy; targeting input; finance.
2. Serarols, C.; Epure, M.: Prior, D. “EVALUATING THE EFFICIENCY OF UNIVERSI TY
SUPPORT UNITS OF SPIN-OFF CREATION”
Recent literature states the importance of academic spin-offs for wealth creation and regional
development. However, empirical evidence on spin-offs’ contributions to regional economic
development is scarce. Existent research has not been successful in measuring the efficiency of
such companies and its support mechanisms. Consequently, this study aims at evaluating the
efficiency of a support programme for the creation of new enterprises in the university context.
Based on the institutional theory and the economic development and wealth creation, the
inputs and outputs of the efficiency analysis are identified. Methodologically, we turn towards
multi-objective efficiency analysis models. By analysing a sample of 82 university spin-offs
within the region of Catalonia, it is found that the global programme inefficiency is less than
30%, while more than half of the units are fully efficient. Furthermore, no statistically
differences are encountered between universities of origin or spin-offs types.
Keywords: innovation, regional development, university spin-off, technology transfer,
entrepreneurship.
7
3. Serarols, C.; Migliorini, P.; Bikfalvi, A. “OVERCOMING CRITICAL J UNCTURES IN
SPIN-OFFS COMPANIES FROM NON-ELITE UNIVERSITI ES”
The majority of the research on academic spin-offs has focused on top-ranked universities but
very few have analysed spin-offs from non-elite universities. The aim of this paper is to shed
light on the process of spin-off creation and development in a non-elite university context. By
using a multiple case study methodology, we examine 11 academic spin-offs from two Catalan
public universities. Our research approach is based on three different theoretical frameworks:
the Resource Based View, the Institutional Theory and the Stage-based development models.
Our results show some significant differences between elite and non-elite university spin-offs
while developing.
Key concepts: academic entrepreneurship, non-elite universities, university spin-offs
development, technology transfer.
4. Federico, J .; Kantis, H.; Rabetino, R. “EXPLORI NG THE DETERMINANTS OF YOUNG
SMES’GROWTH: EVI DENCE FROM CONTRASTING REGI ONS”
Why some firms grow more than others? The answer to this question has originated a huge
amount of literature. However, despite the advances achieved in the last twenty years, we still
have not reach a clear understanding of this phenomenon. We conduct this study aimed at
comparing the factors influencing young firms’ growth in thirteen countries corresponding to
three contrasting regions. First, we include Latin America a still emerging region, characterized
by a volatile and unstable macroeconomic and institutional environment and hence, unfavorable
business conditions to foster business growth. In contrast, we decide to consider South-East
Asia, a developed (former emerging) region, with a different culture and characterized by a
favorable business climate, a hierarchical industrial structure integrated by SMEs and large
domestic corporations and a stable macroeconomic and institutional environment. Finally, we
choose two Southern European countries, characterized by a long SME tradition, well developed
industrial and services sectors and ‘culturally close’ to the Latin American context.
The main contributions of this paper are twofold. First, it collects empirical evidences about
young firms’ growth in less studied regions. Secondly, by comparing the results for each region
we analyze and discuss the differential effects of several determinants of firm growth in quite
contrasting contexts.
Keywords: growth, entrepreneurship, internationalization, regional comparison.
8
5. Thechatakerng, P. “DETERMINANTS OF MI CRO-ENTREPRENEURS INNOVATI ON”
The study aims to explain the impact between characteristic of micro-entrepreneurs, micro-
enterprises and innovation, the relation between entrepreneurs’ preference and innovation, and
whether the economic performance of entrepreneur depends on innovation. Data was
purposive collected through 29 entrepreneurs in handcraft silverware at Wualai community. Chi-
Square testing indicated that the length of firms establishing and size of enterprise impact on
firms innovation. Firms with more experience in running business would implemented more
product innovation. Furthermore, the study statistically testing points out that small firms are
more likely to innovate than micro firms, and implies that the economic value has been affected
by product innovation.
Keywords: Innovation, new product development, micro-entrepreneur.
6. Federico, J .; Kantis, H.; Rialp, A.; Rialp, J . “DOES ENTREPRENEURS' HUMAN AND
RELATIONAL CAPITAL AFFECT EARLY INTERNATIONALIZATI ON? A CROSS-
REGIONAL COMPARISON”
Since the appearance of Oviatt and McDougall’s seminal paper in 1994 “Toward a theory of
international new ventures” a vast amount of literature has been developed to understand not
only the emergence but also the behaviour and effects of these new international firms.
Despite the great effort that has been done, some critical reviews of the state of the art in this
field of research pointed out the need to deepen our understanding of this early
internationalization process and its determinants. In particular, some limitations of past
empirical research in this area have been highlighted. In general, past research on this topic
has been characterized by (i) the use of case studies or small samples, and (ii) a tendency to
focus on U.S. or European countries. As a consequence, there is a need for a more systematic
research approach that incorporates larger samples, cross-national comparisons and
multivariate statistical methods.
Trying to fill this gap in the empirical literature, we conducted this study whose primary
objective was to analyze the effects of human and relational capital on the likelihood of creating
an EIF, focusing particularly on some less studied countries. Accordingly, we compared nearly
1,700 young firms in 13 countries within three different regions (Latin America, South-East Asia
and Mediterranean Europe) with the aim of shedding some light on the following research
question: does entrepreneurs’ human and relational capital significantly affect early
internationalization of young firms?
Keywords: internationalization, born-global, human capital, relational capital.
9
7. Imgrund, M. “PATHWAYS OUT OF INSOLVENCY: GOING CONCERN AND
TURNAROUND PROCESS OF INSOLVENT SMALL AND MEDIUM SIZED ENTERPRI SES”
Company crises and insolvencies are, due to market economy principles, permanent
phenomenon of business life. The increasing numbers of insolvencies over the last years is
mainly resulting from many collapses of small and medium sized enterprises (SMEs) - especially
of micro companies. The current financial crisis also brings many big companies to the edge of
insolvency. However, a company’s insolvency does not necessarily mean the economical exitus
of the entity. Under certain circumstances pathways out of insolvency are existing. Successful
going concern of an insolvent company depends on factors tightly related to the people
involved: The entrepreneur him/herself plays the major role for the time before insolvency. In
this phase he/she is able to control many variables of a successful going concern and
turnaround. After the declaration of insolvency the insolvency administrator takes over
managing responsibilities. Consequently, he/she is seen as the key individual for the company’s
fate. This paper is an extract of an extensive research work which has studied and analysed
success factors of going concern and a successful turnaround management of insolvent small-
and midsized enterprises in Germany (Imgrund 2007). The research design, the results and an
outlook are presented in the following.
Keywords: SME, Crisis, Insolvency, Going Concern, Restructuring, Turnaround-Management.
8. Pohja, T.L. “SEARCHING FOR THE ENTREPRENEUR – THE ROLE OF SOCIAL
NORMS AMONG ENTREPRENEURS”
This conceptual paper seeks to do a number of things. First, to explain what is meant by the
term of social capital and social norms. Second, to give an account of social capital as an
important element within entrepreneurial behaviour. Third, to suggest a model that explains
this connection by making a proposition that network ties, shared codes and norms (i.e. social
capital) affect attitudes toward success, failure and trying. If it is possible to affect these
attitudes, it could stimulate entrepreneurial spirit and create new companies. This paper does
not attempt to treat all aspects of the concept of social capital and social norms. It is difficult to
arrive to a precise definition of these terms and this issue will be discussed. The working
definition is emerging in an interdisciplinary literature and refers to networks, norms and
cooperation between individuals and groups. By providing a concise working definition of social
capital and social norms, this paper analyses why it is important for entrepreneurial intentions.
The intension models are widely used and tested (e.g. Ajzen 1985, 1991; Ajzen-Madden 1986,
Krueger 1993, 1994, Krueger et al. 2000) but they still leave some questions about behaviour
and the factors that influence it. Ajzen and Fishbein modified their model as recently as 2005.
Their latest model presents background factors and normative and behavioural beliefs. Rather,
providing a concise working definition of social capital and social norms, the paper analyses why
it is important to entrepreneurial intentions. This paper also offers a discussion of how
entrepreneurial intention models could be developed.
Keyword: Social capital, social norm, entrepreneurship, behaviour.
10
9. Leitão, J .; Franco, M. “NON-ECONOMIC ORGANIZATI ONAL PERFORMANCE OF
SMES: IS THERE A RATI ONALE FOR A COGNITIVE ENTREPRENEUR?
This paper contributes to the literature on entrepreneurship and small business management by
testing the relationship between the non-economic organizational performance and the
individual entrepreneurship capacity, and by providing new insights about the need for
promoting a truly cognitive entrepreneur. Towards the use of individual data relative to the
founder or owner of SMEs, we assess the relationships between the non-economic performance
of Portuguese SMEs and three types of capital: human, social, and organizational. It uses
collaborators’ satisfaction as a metrics for non-economic performance and provides new insights
for improving SMEs’ performance. The results provided the identification of four principal
factors, which include all the types of individual capital considered in the analysis. The
estimation of logistic regressions point out that only two factors present significant influences
on the non-economic performance of SMEs. On the one hand, in terms of the factor 3, although
it is capable of influencing negatively, in global terms, the non-economic performance of SMEs,
it can be enhanced that inter-departmental meetings have a significant and positive influence
on non-economic performance of SMEs. On the other hand, the analysis of the factor 4 reveals
equally a global negative influence, although the human capital and cognitive variables that
represent the entrepreneur’s intuition and competences of human resources are capable of
influencing positively the behavior of the answer variable concerning non-economic
performance of SMEs.
Key words: Cognitive Entrepreneur, Organizational Performance, Small Business Management.
10. Hernández, R.; Pérez, P. “ENTREPRENEURIAL CULTURE AND EDUCATION:
OBSERVATIONS CENTERED AROUND STUDENTS IN SECONDARY SCHOOL AND
HI GHER-LEVEL PROFESSIONAL TRAI NING”
Everyone agrees on the importance of entrepreneurship for the devolvement of regions in
which new businesses are started. Their contribution to the creation of new jobs, wealth and a
new “life” for the region undoubtedly exist. However, it has become clearer that business
initiatives, or certain aspects of business initiatives, can be taught. The majority of statistical
studies conclude that business initiatives can be encouraged by fomenting an entrepreneurial
spirit in educational programmes at different levels of the educational system. In this paper,
we reflect upon the importance of fomenting entrepreneurial values in students at levels
preceding the university level, a group that can influence the well-being of their communities
while contributing to the reduction in poverty, and the sustainable, socio-economic
development of their environment.
Keywords: Entrepreneurial Culture, Business Activity, Entrepreneurial Spirit, Educational
System, Secondary Education, Higher-Level Professional Training.
11
11. J ohansen, P.H. “NETWORKING AND BEING SOCIAL –TWO WAYS OF
INTERACTING WITH TWO DIFFERENT OUTCOMES”
Inside the field of innovation and entrepreneurship, literature on social networks rests upon an
idea of social interaction as carried out with specific aims. For example Lin (1999) who explains
such aims as either or both linked to improvement of influence, information, social credentials
and reinforcement. This paper argues that innovation and entrepreneurship literature may have
undervalued that social interaction is also carried out as an end in itself. It is our suggestion
that there is a need to distinguish between ’networking’ and ’being social’, both because of the
difference in motives but first of all because of a very different outcome from ’networking’ and
’being social’. The aim of this paper is to supplement the literature about social relations inside
innovation and entrepreneurship. Furthermore, it is the aim to highlight that the narrow
instrumental perspective on social interaction in policies for increasing innovative performance
and rate of entrepreneurship should be supplemented by an experimental perspective on
creating and supporting platforms for ’being social’.
Keyword: Social capital, networking, entrepreneurship, innovation.
12. Hernández, R.; Pérez, P. “WHAT IS THE NEEX PROGRAM AND WHAT IS IT
DESIGNED TO DO”
Extremadura is a developing region of Spain, and has the highest level of unemployment. There
is not much business activity, and this sector does not contribute much to the GDP. There is
also a lack of big companies, but Extremadura is well-ranked with regard to the Level of
Business Activity as measured by the GEM Project. This program started from an agreement
between the regional government (J unta de Extremadura), the main trade unions in
Extremadura, business organizations, and the framework of the Plan for Employment and
Industry 2004-2007. Nature of the program: A public program to promote entrepreneurship. It
includes small industrial projects, new technology and services which Extremadura lacks. The
NEEX program is a assistance system for writing business plans through the use of online tools.
These tools allow us to develop a business plan in only a few hours, complete a report and
grant information, and fill out all the paperwork online. It is recognized by financial entities as
one of the most complete and professional programs.
Key concepts: academic entrepreneurship, non-elite universities, university spin-offs
development, technology transfer.
12
13. Gómez, L.; Veciana, J .M., Urbano, D. “EXPLAINING THE ENTREPRENEURIAL
ACTIVITY: THE INFLUENCE OF INSTITUTIONAL FACTORS”
Literature evidences that the entrepreneurial activity is strongly conditioned by determined
environmental factors. Studies show that the regulation, the research and development
expenditures, the increments or reductions in the GDP per capita or the
employment/unemployment rate, as well as the convictions and beliefs of the population can
influence, positively or negatively, in the levels of new business formation in a country or
region.
Furthermore, great interest from the scholars and the public administration exists for the
construction of explicative models that allow the identification of the most involved
environmental factors. The main objective of this article is to provide a model where the
environmental factors with more weight in explaining the rates of new business formation of a
country or region are identified. The entrepreneurial activity is measured by the TEA: (Total
Entrepreneurship Activity). The environmental factors are chosen based on the institutional
economic theory, school Douglas North.
The research is explicative and the linear regression technique is used. The data belongs to the
year 2004, from: GEM (Global Entrepreneurship Monitor), Doing Business (World Bank), Global
Competitiveness Report (GCR), World Intellectual Property Organization (WIPO), The Bureau of
Statist and The World Economic Outlook Database.
The findings show that the informal institutional factors have a greater weight than the formal
ones when explaining the variation of the rates of the new business creation of a country. Of
these factors the one with the greatest power of explanation is the viability perception.
Key concepts: new business formation, Entrepreneurial Activity, formal institutions, informal
institutions, economic institutional theory.
13
doc_725248955.pdf
Universitat Autònoma De Barcelona
4
TH
EDP ALUMNI WORKSHOP 2-3 APRIL, BARCELONA
Universitat Autònoma de Barcelona
Chairperson:
J osé Mª Veciana
Coordinator:
Christian Serarols
Organizing Committee:
J oan Lluís Capelleras
Karen Murdock
Àlex Rialp
David Urbano
Yancy Vaillant
J oaquim Vergés
Conference venue:
Universitàt Autònoma de Barcelona (UAB)
Departament d'Economia de l'Empresa
Facultad de Ciencias Económicas y Empresarias
Bellaterra (Barcelona)
1. Background
The European Doctoral Programme in Entrepreneurship and Small Business Management (EDP)
is celebrating its 20th anniversary in 2009. Over these years the programme has grown and
provided post-graduate education to over 175 participants from 52 different countries. In order
to foster resources networking, this programme needs to mobilize staff and its alumni
worldwide. Thus the 4th EDP Workshop (as well as the previous ones) is set against this
backdrop and serves the need to become a forum for discussing research conducted at the
frontiers of entrepreneurship and small business management, especially by EDP Alumni. In
addition to the academic necessity for such regular exchange, this workshop serves the need of
the EDP Alumni and Faculty to build and maintain informal contacts so essential to launch and
carry out joint research.
2. Final Programme
Thursday, April 2nd
12:00 – 14:00 Registration [Sala d’actes]
15:00 – 15:30 Welcome by [Sala d’actes]
J osé Mª Veciana, EDP Director, UAB
J oaquim Vergés, EDP Director, UAB
Christian Serarols, EDP Network Coordinator, UAB
Friederike Welter, ECSB President
15:30 – 16:30 Keynote Speech by Allan Gibb, University of Durham [Sala d’actes]
“Carrying Entrepreneurial Doctoral Programmes forward. Is the case for
making the doctoral process itself more entrepreneurial? If so what does it
mean in practice?”
16:30 – 18:00 Parallel Sessions
Session 1 [Seminari B]
Chairman: Friederike Welter
Karen A. Murdock: The effect of public policy for entrepreneurship and
innovation in EU’s managed and entrepreneurial economies.
Miercea Epure, Diego Prior and Christian Serarols: Evaluating the
efficiency of University support units of spin-off creation.
Pablo Migliorini, Christian Serarols, and Andrea Bikfalvi: Overcoming
critical junctures in spin-offs companies from non-elite universities.
2
Session 2 [Seminari C]
Chairman: J osef Mugler
J uan S. Federico, Hugo Kantis and Rodrigo Rabetino: Exploring the
determinants of young SMEs’ Growth: Evidence from contrasting regions.
Pusanisa Thechatakerng: Determinants of micro-entrepreneurs
innovation.
J uan S. Federico, Hugo Kantis, Alex Rialp and J osep Rialp: Does
entrepreneurs’ human and relational capital affect early internationalization?
A cross regional comparison.
18:00 – 19:00 EDP alumni meeting [Sala d’Actes]
Friday, April 3
rd
09:00 – 10:00 Keynote Speech by David Smallbone, Kingston University [Sala d’Actes]
“Entrepreneurship in China”
10:00 – 10:15 Coffee break
10:15 – 11:45 Case Study Workshop by Thomas Cooney, [Sala d’Actes]
Dublin Institute of Technology
11:45 – 13:15 Round Table on “Entrepreneurship in turbulent times”. [Sala d’Actes]
Friederike Welter (Chairmain)
Hans Crinjs
J osef Mugler
David Smallbone
David Storey
13:15 – 15:00 Lunch
15:00 – 16:45 Parallel Sessions
Session 3 [Seminari B]
Chairman: Asko Miettinen
Markus Imgrund: Pathways out of insolvency: going concern and
turnaround process of insolvent small and medium size enterprises.
Tuija-Liisa Pohja: Searching for the entrepreneur – the role of social norms
among entrepreneurs.
J oao Leitao and Mario Franco: Non-economic organizational performance
of SMEs: is there a rational for a cognitive entrepreneur?
3
Session 4 [Seminari C]
Chairman: Christian Serarols
Ricardo Hernández and Pilar Pérez: Entrepreneurial culture and
education: observation centered around students in secondary school and
higher-level professional training.
Pia Heike J ohansen: Networking and being social – two ways of interacting
with two different outcomes.
Ricardo Hernández: What is the next program and what is it designed to
do?
Liyis Gómez, J ose Mª Veciana and David Urbano: Explaining the
entrepreneurial activity: the influence of institutional factors”
16:45 – 17:00 Coffee break
17:00 – 18:00 Keynote Speech by David Storey, Warwick University [Sala d’Actes]
“Do entrepreneurs really learn?”
18:00 – 18:30 Closing session [Sala d’Actes]
20:30 – 23:00 Dinner
Alba Granados Restaurant
Calle Enric Granados, 34
Barcelona
Tel. 93 454 61 16
4
3. List of Participants
Surname First name Email
Adeyeye Modupe [email protected]
Aliaga Isla Rocio del Pilar [email protected]
Batista Rosa María [email protected]
Bayan Manoj [email protected]
Blanco Luis [email protected]
Boix Rafael [email protected]
Capelleras J oan-Lluís [email protected]
Castillo Sandra [email protected]
Cooney Thomas [email protected]
Crijns Hans [email protected]
Epure Mircea [email protected]
Federico J uan [email protected]
Gibb Allan [email protected]
Gómez Núñez Liyis [email protected]
Gómez Araujo Eduardo J osé [email protected]
González Alexandra [email protected]
Hernández Ricardo [email protected]
Hormiga Esther [email protected]
Hu Mingyue [email protected]
Imgrund Markus [email protected]
J ohansen Pia Heike [email protected]
J ungbauer Arthur [email protected]
Kamal Walid [email protected]
Kantis Hugo [email protected]
Knefati Fadi [email protected]
Leitao J oao [email protected]
Loaiza Mileidy [email protected]
Martínez Mateo J esús [email protected]
Martins Izaias [email protected]
Miettinen Asko [email protected]
Migliorini Pablo [email protected]
Mira Ignacio [email protected]
Mohd Yusof Siti Norwardatulaina [email protected]
Mugler J osef J [email protected]
Muharam Farrah Merlinda [email protected]
Murdock Karen [email protected]
Nagpaul Vivek [email protected]
Othman Azrina [email protected]
Pohja Tuija-Liisa [email protected]
Procher Vivien [email protected]
Rabetino Rodrigo [email protected]
Ramos Raymundo [email protected]
Raposo Mario [email protected]
Rialp Alex [email protected]
Ruiz García Guillermo Rafael [email protected]
Serarols Christian [email protected]
Smallbone David [email protected]
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Stefan Melania [email protected]
Storey David [email protected]
Thechatakerng Pusanisa [email protected]
Torres Rosalina [email protected]
Urbano David [email protected]
Uribe Felipe [email protected]
Valls J aume [email protected]
Veciana J ose Mª [email protected]
Vedovoto Graciela [email protected]
Vergés J oaquim [email protected]
Wang Lina [email protected]
Wang Ivy Yiwen [email protected]
Welter Friederike [email protected]
Wen Wen [email protected]
Zúñiga Gabriel [email protected]
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4. Abstracts
1. Murdock, K. “THE EFFECT OF PUBLIC POLICY FOR ENTREPRENEURSHIP AND
INNOVATION IN EU’S MANAGED AND ENTREPRENEURIAL ECONOMIES”
The paper reports partial results from a study with three main objectives. The first is to
separate European Union member countries of into managed or entrepreneurial economies. The
next objective is to identify evidence of four trade-offs in public policy for entrepreneurship and
innovation between managed and entrepreneurial economies. And finally to establish what kind
of impact these specific areas of public policies have on entrepreneurship and innovation
activities in each group of economies.
The countries are categorized as managed and entrepreneurial economies based on indicators
that signal innovation and technological transformation, which are at the heart of the
entrepreneurial economy. The four trade-offs in public policy form part of the characteristics
which differentiate managed from entrepreneurial economies as outlined by Audretsch and
Thurik, (2001). The results shows that knowledge jobs, the percentage of GDP invested in
research and development and the numbers of patents granted are some of the most
significant factors that separate the economies. The number of researchers and the foreign
direct investment intensity (FDI) are however not important in this process of separation.
Regarding the trade-offs in public policy, the analysis reveals that evidence of the trade-offs in
public policy is strongest for regulation versus stimulation, targeting output versus targeting
input and the system of finance (debt versus risk finance). It is less so in the case of national
versus regional policy. The trade-offs can be readily identified between the two groupings of
economies especially at the extreme ends. There is however some countries in the middle,
where the differences are less distinct.
Keywords: institutions; public policy; managed economies; entrepreneurial economies;
entrepreneurship; innovation; regulations; regional policy; targeting input; finance.
2. Serarols, C.; Epure, M.: Prior, D. “EVALUATING THE EFFICIENCY OF UNIVERSI TY
SUPPORT UNITS OF SPIN-OFF CREATION”
Recent literature states the importance of academic spin-offs for wealth creation and regional
development. However, empirical evidence on spin-offs’ contributions to regional economic
development is scarce. Existent research has not been successful in measuring the efficiency of
such companies and its support mechanisms. Consequently, this study aims at evaluating the
efficiency of a support programme for the creation of new enterprises in the university context.
Based on the institutional theory and the economic development and wealth creation, the
inputs and outputs of the efficiency analysis are identified. Methodologically, we turn towards
multi-objective efficiency analysis models. By analysing a sample of 82 university spin-offs
within the region of Catalonia, it is found that the global programme inefficiency is less than
30%, while more than half of the units are fully efficient. Furthermore, no statistically
differences are encountered between universities of origin or spin-offs types.
Keywords: innovation, regional development, university spin-off, technology transfer,
entrepreneurship.
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3. Serarols, C.; Migliorini, P.; Bikfalvi, A. “OVERCOMING CRITICAL J UNCTURES IN
SPIN-OFFS COMPANIES FROM NON-ELITE UNIVERSITI ES”
The majority of the research on academic spin-offs has focused on top-ranked universities but
very few have analysed spin-offs from non-elite universities. The aim of this paper is to shed
light on the process of spin-off creation and development in a non-elite university context. By
using a multiple case study methodology, we examine 11 academic spin-offs from two Catalan
public universities. Our research approach is based on three different theoretical frameworks:
the Resource Based View, the Institutional Theory and the Stage-based development models.
Our results show some significant differences between elite and non-elite university spin-offs
while developing.
Key concepts: academic entrepreneurship, non-elite universities, university spin-offs
development, technology transfer.
4. Federico, J .; Kantis, H.; Rabetino, R. “EXPLORI NG THE DETERMINANTS OF YOUNG
SMES’GROWTH: EVI DENCE FROM CONTRASTING REGI ONS”
Why some firms grow more than others? The answer to this question has originated a huge
amount of literature. However, despite the advances achieved in the last twenty years, we still
have not reach a clear understanding of this phenomenon. We conduct this study aimed at
comparing the factors influencing young firms’ growth in thirteen countries corresponding to
three contrasting regions. First, we include Latin America a still emerging region, characterized
by a volatile and unstable macroeconomic and institutional environment and hence, unfavorable
business conditions to foster business growth. In contrast, we decide to consider South-East
Asia, a developed (former emerging) region, with a different culture and characterized by a
favorable business climate, a hierarchical industrial structure integrated by SMEs and large
domestic corporations and a stable macroeconomic and institutional environment. Finally, we
choose two Southern European countries, characterized by a long SME tradition, well developed
industrial and services sectors and ‘culturally close’ to the Latin American context.
The main contributions of this paper are twofold. First, it collects empirical evidences about
young firms’ growth in less studied regions. Secondly, by comparing the results for each region
we analyze and discuss the differential effects of several determinants of firm growth in quite
contrasting contexts.
Keywords: growth, entrepreneurship, internationalization, regional comparison.
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5. Thechatakerng, P. “DETERMINANTS OF MI CRO-ENTREPRENEURS INNOVATI ON”
The study aims to explain the impact between characteristic of micro-entrepreneurs, micro-
enterprises and innovation, the relation between entrepreneurs’ preference and innovation, and
whether the economic performance of entrepreneur depends on innovation. Data was
purposive collected through 29 entrepreneurs in handcraft silverware at Wualai community. Chi-
Square testing indicated that the length of firms establishing and size of enterprise impact on
firms innovation. Firms with more experience in running business would implemented more
product innovation. Furthermore, the study statistically testing points out that small firms are
more likely to innovate than micro firms, and implies that the economic value has been affected
by product innovation.
Keywords: Innovation, new product development, micro-entrepreneur.
6. Federico, J .; Kantis, H.; Rialp, A.; Rialp, J . “DOES ENTREPRENEURS' HUMAN AND
RELATIONAL CAPITAL AFFECT EARLY INTERNATIONALIZATI ON? A CROSS-
REGIONAL COMPARISON”
Since the appearance of Oviatt and McDougall’s seminal paper in 1994 “Toward a theory of
international new ventures” a vast amount of literature has been developed to understand not
only the emergence but also the behaviour and effects of these new international firms.
Despite the great effort that has been done, some critical reviews of the state of the art in this
field of research pointed out the need to deepen our understanding of this early
internationalization process and its determinants. In particular, some limitations of past
empirical research in this area have been highlighted. In general, past research on this topic
has been characterized by (i) the use of case studies or small samples, and (ii) a tendency to
focus on U.S. or European countries. As a consequence, there is a need for a more systematic
research approach that incorporates larger samples, cross-national comparisons and
multivariate statistical methods.
Trying to fill this gap in the empirical literature, we conducted this study whose primary
objective was to analyze the effects of human and relational capital on the likelihood of creating
an EIF, focusing particularly on some less studied countries. Accordingly, we compared nearly
1,700 young firms in 13 countries within three different regions (Latin America, South-East Asia
and Mediterranean Europe) with the aim of shedding some light on the following research
question: does entrepreneurs’ human and relational capital significantly affect early
internationalization of young firms?
Keywords: internationalization, born-global, human capital, relational capital.
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7. Imgrund, M. “PATHWAYS OUT OF INSOLVENCY: GOING CONCERN AND
TURNAROUND PROCESS OF INSOLVENT SMALL AND MEDIUM SIZED ENTERPRI SES”
Company crises and insolvencies are, due to market economy principles, permanent
phenomenon of business life. The increasing numbers of insolvencies over the last years is
mainly resulting from many collapses of small and medium sized enterprises (SMEs) - especially
of micro companies. The current financial crisis also brings many big companies to the edge of
insolvency. However, a company’s insolvency does not necessarily mean the economical exitus
of the entity. Under certain circumstances pathways out of insolvency are existing. Successful
going concern of an insolvent company depends on factors tightly related to the people
involved: The entrepreneur him/herself plays the major role for the time before insolvency. In
this phase he/she is able to control many variables of a successful going concern and
turnaround. After the declaration of insolvency the insolvency administrator takes over
managing responsibilities. Consequently, he/she is seen as the key individual for the company’s
fate. This paper is an extract of an extensive research work which has studied and analysed
success factors of going concern and a successful turnaround management of insolvent small-
and midsized enterprises in Germany (Imgrund 2007). The research design, the results and an
outlook are presented in the following.
Keywords: SME, Crisis, Insolvency, Going Concern, Restructuring, Turnaround-Management.
8. Pohja, T.L. “SEARCHING FOR THE ENTREPRENEUR – THE ROLE OF SOCIAL
NORMS AMONG ENTREPRENEURS”
This conceptual paper seeks to do a number of things. First, to explain what is meant by the
term of social capital and social norms. Second, to give an account of social capital as an
important element within entrepreneurial behaviour. Third, to suggest a model that explains
this connection by making a proposition that network ties, shared codes and norms (i.e. social
capital) affect attitudes toward success, failure and trying. If it is possible to affect these
attitudes, it could stimulate entrepreneurial spirit and create new companies. This paper does
not attempt to treat all aspects of the concept of social capital and social norms. It is difficult to
arrive to a precise definition of these terms and this issue will be discussed. The working
definition is emerging in an interdisciplinary literature and refers to networks, norms and
cooperation between individuals and groups. By providing a concise working definition of social
capital and social norms, this paper analyses why it is important for entrepreneurial intentions.
The intension models are widely used and tested (e.g. Ajzen 1985, 1991; Ajzen-Madden 1986,
Krueger 1993, 1994, Krueger et al. 2000) but they still leave some questions about behaviour
and the factors that influence it. Ajzen and Fishbein modified their model as recently as 2005.
Their latest model presents background factors and normative and behavioural beliefs. Rather,
providing a concise working definition of social capital and social norms, the paper analyses why
it is important to entrepreneurial intentions. This paper also offers a discussion of how
entrepreneurial intention models could be developed.
Keyword: Social capital, social norm, entrepreneurship, behaviour.
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9. Leitão, J .; Franco, M. “NON-ECONOMIC ORGANIZATI ONAL PERFORMANCE OF
SMES: IS THERE A RATI ONALE FOR A COGNITIVE ENTREPRENEUR?
This paper contributes to the literature on entrepreneurship and small business management by
testing the relationship between the non-economic organizational performance and the
individual entrepreneurship capacity, and by providing new insights about the need for
promoting a truly cognitive entrepreneur. Towards the use of individual data relative to the
founder or owner of SMEs, we assess the relationships between the non-economic performance
of Portuguese SMEs and three types of capital: human, social, and organizational. It uses
collaborators’ satisfaction as a metrics for non-economic performance and provides new insights
for improving SMEs’ performance. The results provided the identification of four principal
factors, which include all the types of individual capital considered in the analysis. The
estimation of logistic regressions point out that only two factors present significant influences
on the non-economic performance of SMEs. On the one hand, in terms of the factor 3, although
it is capable of influencing negatively, in global terms, the non-economic performance of SMEs,
it can be enhanced that inter-departmental meetings have a significant and positive influence
on non-economic performance of SMEs. On the other hand, the analysis of the factor 4 reveals
equally a global negative influence, although the human capital and cognitive variables that
represent the entrepreneur’s intuition and competences of human resources are capable of
influencing positively the behavior of the answer variable concerning non-economic
performance of SMEs.
Key words: Cognitive Entrepreneur, Organizational Performance, Small Business Management.
10. Hernández, R.; Pérez, P. “ENTREPRENEURIAL CULTURE AND EDUCATION:
OBSERVATIONS CENTERED AROUND STUDENTS IN SECONDARY SCHOOL AND
HI GHER-LEVEL PROFESSIONAL TRAI NING”
Everyone agrees on the importance of entrepreneurship for the devolvement of regions in
which new businesses are started. Their contribution to the creation of new jobs, wealth and a
new “life” for the region undoubtedly exist. However, it has become clearer that business
initiatives, or certain aspects of business initiatives, can be taught. The majority of statistical
studies conclude that business initiatives can be encouraged by fomenting an entrepreneurial
spirit in educational programmes at different levels of the educational system. In this paper,
we reflect upon the importance of fomenting entrepreneurial values in students at levels
preceding the university level, a group that can influence the well-being of their communities
while contributing to the reduction in poverty, and the sustainable, socio-economic
development of their environment.
Keywords: Entrepreneurial Culture, Business Activity, Entrepreneurial Spirit, Educational
System, Secondary Education, Higher-Level Professional Training.
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11. J ohansen, P.H. “NETWORKING AND BEING SOCIAL –TWO WAYS OF
INTERACTING WITH TWO DIFFERENT OUTCOMES”
Inside the field of innovation and entrepreneurship, literature on social networks rests upon an
idea of social interaction as carried out with specific aims. For example Lin (1999) who explains
such aims as either or both linked to improvement of influence, information, social credentials
and reinforcement. This paper argues that innovation and entrepreneurship literature may have
undervalued that social interaction is also carried out as an end in itself. It is our suggestion
that there is a need to distinguish between ’networking’ and ’being social’, both because of the
difference in motives but first of all because of a very different outcome from ’networking’ and
’being social’. The aim of this paper is to supplement the literature about social relations inside
innovation and entrepreneurship. Furthermore, it is the aim to highlight that the narrow
instrumental perspective on social interaction in policies for increasing innovative performance
and rate of entrepreneurship should be supplemented by an experimental perspective on
creating and supporting platforms for ’being social’.
Keyword: Social capital, networking, entrepreneurship, innovation.
12. Hernández, R.; Pérez, P. “WHAT IS THE NEEX PROGRAM AND WHAT IS IT
DESIGNED TO DO”
Extremadura is a developing region of Spain, and has the highest level of unemployment. There
is not much business activity, and this sector does not contribute much to the GDP. There is
also a lack of big companies, but Extremadura is well-ranked with regard to the Level of
Business Activity as measured by the GEM Project. This program started from an agreement
between the regional government (J unta de Extremadura), the main trade unions in
Extremadura, business organizations, and the framework of the Plan for Employment and
Industry 2004-2007. Nature of the program: A public program to promote entrepreneurship. It
includes small industrial projects, new technology and services which Extremadura lacks. The
NEEX program is a assistance system for writing business plans through the use of online tools.
These tools allow us to develop a business plan in only a few hours, complete a report and
grant information, and fill out all the paperwork online. It is recognized by financial entities as
one of the most complete and professional programs.
Key concepts: academic entrepreneurship, non-elite universities, university spin-offs
development, technology transfer.
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13. Gómez, L.; Veciana, J .M., Urbano, D. “EXPLAINING THE ENTREPRENEURIAL
ACTIVITY: THE INFLUENCE OF INSTITUTIONAL FACTORS”
Literature evidences that the entrepreneurial activity is strongly conditioned by determined
environmental factors. Studies show that the regulation, the research and development
expenditures, the increments or reductions in the GDP per capita or the
employment/unemployment rate, as well as the convictions and beliefs of the population can
influence, positively or negatively, in the levels of new business formation in a country or
region.
Furthermore, great interest from the scholars and the public administration exists for the
construction of explicative models that allow the identification of the most involved
environmental factors. The main objective of this article is to provide a model where the
environmental factors with more weight in explaining the rates of new business formation of a
country or region are identified. The entrepreneurial activity is measured by the TEA: (Total
Entrepreneurship Activity). The environmental factors are chosen based on the institutional
economic theory, school Douglas North.
The research is explicative and the linear regression technique is used. The data belongs to the
year 2004, from: GEM (Global Entrepreneurship Monitor), Doing Business (World Bank), Global
Competitiveness Report (GCR), World Intellectual Property Organization (WIPO), The Bureau of
Statist and The World Economic Outlook Database.
The findings show that the informal institutional factors have a greater weight than the formal
ones when explaining the variation of the rates of the new business creation of a country. Of
these factors the one with the greatest power of explanation is the viability perception.
Key concepts: new business formation, Entrepreneurial Activity, formal institutions, informal
institutions, economic institutional theory.
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doc_725248955.pdf