Entrepreneurship, Small and Medium-Sized Enterprises and the Macroeconomy / Edition 1

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Overview

By examining the functions of new firms and entrepreneurs in the economy, the essays in this volume make a fundamental contribution to our understanding of the macroeconomy. Each chapter clarifies the role of entrepreneurs in economic theory, the function of small and medium-sized enterprises that they found and build and the impact of the innovations introduced on employment, productivity and economic growth. The public policy implications of this process are clear. Countries that encourage entrepreneurship and free entry will have better macroeconomic performance than those that retard it. And a dynamic small and medium-sized enterprise sector requires addressing the issue of inadequate management competence and bridging the gap between large and small firms.
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Editorial Reviews

From the Publisher
Review of the hardback: 'While recent years have seen a welcome growth of research into small companies and business start-ups, acadmeics still face the problem of getting a clear mental image of what exactly is under consideration … Research in small and medium-sized enterprises (SMEs) also faces some daunting problems of collecting and interpreting data … this collection of 13 papers is an impressive indication of the value of systematic analysis in this field … the substantive contributions [are] consistently well-written and often insightful … the key lesson that emerges is the need for caution when attempting grand generalisations … the volume is a testament to the principle that goos research should focus on interesting problems, even it the domain is complex and defies simplistic conclusions.' The Times Higher Education Supplement
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Product Details

  • ISBN-13: 9780521621052
  • Publisher: Cambridge University Press
  • Publication date: 10/28/2002
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 416
  • Product dimensions: 5.98 (w) x 8.98 (h) x 1.06 (d)

Table of Contents

Preface
List of Contributors
1 The Linkages Among Entrepreneurship, SMEs and the Macroeconomy 3
2 Entrepreneurship and the Theory of the Firm 45
3 Entrepreneurship and Economic Restructuring: An Evolutionary View 79
4 Creative Destruction: Source or Symptom of Economic Growth? 97
5 Industry Structure, Entrepreneurship and the Macroeconomy: A Comparison of Ohio and Sweden, 1975-1995 137
6 Small Business Failure: Failure to Fund or Failure to Learn? 161
7 Capital Structure at Inception and the Short-Run Performance of Micro-Firms 186
8 Resource Allocation, Incentives and Control: The Importance of Venture Capital in Financing Entrepreneurial Firms 206
9 Job Creation and Destruction by Employer Size and Age: Cyclical Dynamics 239
10 SMEs and Job Creation During a Recession and Recovery 286
11 Job Flows of Firms in Traditional Services 310
12 Innovation in UK SMEs: Causes and Consequences for Firm Failure and Acquisition 329
13 Productivity Growth and Firm Size Distribution 367
Name Index 397
Subject Index 401
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