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

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Why has the United States economy successfully moved beyond its chief competitors? This collection suggests that at least some of the answers to the pattern of divergent development can be found in the role of the entrepreneur. By examining the process that new firms and entrepreneurs play in the economy, the essays in this volume make a fundamental contribution to our understanding of the macroeconomy. 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.
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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: 11/28/1998
  • 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

Introduction and overview: 1. The linkages between entrepreneurship, SMEs and the macroeconomy Zoltan J. Acs, Bo Carlsson and Charlie Karlsson; Part I. Entrepreneurship, Industrial Dynamics and the Macroeconomy: 2. Entrepreneurship and the theory of the firm Mark Casson; 3. Entrepreneurship, and economic restructuring: an evolutionary view David Audretsch; 4. Business volatility: source or symptom of economic growth? Paul D. Reynolds; 5. Industry structure, entrepreneurship, and the macroeconomy: a comparison of Ohio and Sweden, 1975–1995 Pontus Braunerhjelm and Bo Carlsson; Part II. Financing Entrepreneurship and SMEs: 6. Small business cessation: failure to learn by doing? Robert Cressey; 7. Capital structure at inception and the short-run performance of micro firms Gavin C. Reid; 8. Resource allocation, incentives, and control: the importance of venture capital in financing entrepreneurial firms Paul A. Gompers; Part III. Job Creation and Destruction: 9. Job creation and destruction by employer size and age: cyclical dynamics John Haltiwanger; 10. SMEs and job creation during a recession Per Davidsson, Leif Lindmark and Christer Oloffson; 11. Job flows of firms in traditional services Luuk Klop and Roy Thurik; Part IV. Innovation, Productivity and Growth: 12. Innovation in UK SMEs: causes and consequences for firm failure and acquisition Andy Cosh, Alan Hughes and Eric Wood; 13. Productivity growth and firm size distribution Zoltan J. Acs, Randal Morck and Bernard Yeung.
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