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  • 1.
    Acs, Zoltan J.
    et al.
    London School of Economics and Political Science, GBR.
    Braunerhjelm, Pontus
    Swedish Entrepreneurship Forum, SWE.
    Karlsson, Charlie
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics.
    Philippe Aghion: recipient of the 2016 Global Award for Entrepreneurship Research2017In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 48, no 1, p. 1-8Article in journal (Refereed)
    Abstract [en]

    Professor Philippe Aghion is the 2016 recipient of the Global Award for Entrepreneurship Research, consisting of 100,000 Euros and a statuette designed by the internationally renowned Swedish sculptor Carl Milles. He is one of the most influential researchers worldwide in economics in the last couple of decades. His research has advanced our understanding of the relationship between firm-level innovation, entry and exit on the one hand, and productivity and growth on the other. Aghion has thus accomplished to bridge theoretical macroeconomic growth models with a more complete and consistent microeconomic setting. He is one of the founding fathers of the pioneering and original contribution referred to as Schumpeterian growth theory. Philippe Aghion has not only contributed with more sophisticated theoretical models, but also provided empirical evidence regarding the importance of entrepreneurial endeavours for societal prosperity, thereby initiating a more nuanced policy discussion concerning the interdependencies between entrepreneurship, competition, wealth and growth.

  • 2.
    Andersson, Martin
    et al.
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics.
    Eklund, Johan
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics.
    Tsvetkova, Alexandra
    OECD Trento Centre for Local Development, Spatial Productivity Lab (SPL),ITA.
    Spatial variations in financial constraints of SMEs-evidence from firm-level estimates of investment-cash flow sensitivities in Sweden2023In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 60, no 4, p. 1683-1698Article in journal (Refereed)
    Abstract [en]

    Plain English Summary We show that small- and medium-sized enterprises (SMEs) located outside the main city regions are more dependent on internal cash flow in their investments compared to SME urban city regions. Our findings clearly show that, as access to agglomerated economies decreases, financial constraints faced by the SMEs increase. The investment ability of SMEs in rural regions depends on own cash flow more but revenues in smaller regions tend to be smaller too-implying that the cash flow is likely to be lower. As a result, SMEs in smaller and more remote places would find it harder to invest and, therefore, to grow or increase productivity. The fact that such a consistent pattern of increasing investment-cash flow sensitivity is clearly observable in Sweden, one of the least regionally unequal countries, only reinforces the importance of considering the spatial dimension in policies targeted at closing SME financing gap. It is well established that there is uneven availability of credit across space, in particular for SMEs. The evidence on whether this translates into differences in actual business investments remains scarce. We assess this question by using firm-level data for Swedish firms and estimate the extent to which the average investment-cash flow sensitivities of firms vary across the urban-rural hierarchy. We find that the world of financing is not yet flat for the majority of Swedish SMEs. Companies located in non-metro regions are most dependent on own cash flow in their investments. The results hold for all firms, firms of different sizes, firms operating in low-end services, unaffiliated firms and those belonging to domestic corporations. In contrast, investment-cash flow sensitivity of firms operating in high-tech services and those belonging to a multinational enterprise does not differ geographically. On average, regional investment-cash flow sensitivity is lower in bigger, denser and more educated local labour market regions; it is higher in regions with greater concentration of SMEs.

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  • 3.
    Andersson, Martin
    et al.
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics.
    Waldenström, Daniel
    Ecole d'Economie de Paris, FRA.
    Hernando de Soto: recipient of the 2017 Global Award for Entrepreneurship Research2017In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 49, no 4, p. 721-728Article in journal (Refereed)
    Abstract [en]

    The 2017 Global Award for Entrepreneurship Research is given to Hernando de Soto, president of the Institute for Liberty and Democracy (ILD) in Lima, Peru. Over the last 30 years, Hernando de Soto has been a world-leading intellectual engaged in academic and public policy discussions on global development. He has made substantial contributions to our understanding of the informal economy and of the importance of property rights to unleash entrepreneurship and alleviate poverty and underdevelopment. His contributions have led to a new and better understanding of the role played by institutions in supporting entrepreneurship, especially in the Third World. Hernando de Soto’s work has also had major influences on policy worldwide, both in terms of conceptual understanding and practical policy measures. © 2017 The Author(s)

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  • 4.
    Braunerhjelm, Pontus
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics.
    Rethinking stabilization policies; Including supply-side measures and entrepreneurial processes2022In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 58, no 2, p. 963-983Article in journal (Refereed)
    Abstract [en]

    Abstract: Traditional macroeconomic stabilization policies seek to moderate swings in economic activity through measures that primarily augment aggregate demand. Such measures are, however, inadequate in mitigating the comprehensive effects of crisis such as the COVID-19, which affects both the demand and supply sides of the economy. Moreover, monetary policies are presently close to a liquidity trap combined with weakened transmission links to the real economy. Fiscal policies have been reactivated, albeit in an ad hoc and experimental manner. Based on a literature review and the policy responses following the COVID-19 crisis, the objective is to present a modified and extended framework for stabilization policies. In particular, the importance of microeconomic supply-side measures that promote entrepreneurial processes and knowledge-upgrading efforts are emphasized. Furthermore, a coherent realigning of policies at the micro- and macro-levels is argued to enhance the potential for long-term growth and to facilitate the restructuring of an economy that normally follows a crisis. © 2021, The Author(s).

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  • 5.
    Braunerhjelm, Pontus
    et al.
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics.
    Eklund, Johan
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics.
    Thulin, Per
    KTH, SWE.
    Taxes, the tax administrative burden and the entrepreneurial life cycle2021In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 56, no 2, p. 681-694, article id SIArticle in journal (Refereed)
    Abstract [en]

    We present a modified version of the entrepreneurial choice model, where it is shown that the expected utility of becoming an entrepreneur is decreasing in both the levels of taxes and the tax administrative burden. We extend previous empirical findings by examining how these variables influence entrepreneurs at different stages in the entrepreneurial life cycle. Our findings imply that the effect of the tax administrative burden varies over the entrepreneurial life cycle from strongly negative to insignificant. The most pronounced negative effects appear in the early stages of entrepreneurship. We conclude that a 10% reduction in the tax administrative burden increases the propensity for new business establishments by 4%. Our findings support the idea that tax simplification is one way to encourage entrepreneurship, without any reduction in tax revenues. © 2019, The Author(s).

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  • 6.
    Braunerhjelm, Pontus
    et al.
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics.
    Svensson, Roger
    The Research Institute of Industrial Economics (IFN), Sweden.
    Inventions, commercialization strategies, and knowledge spillovers in SMEs2024In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 63, no 1, p. 275-297Article in journal (Refereed)
    Abstract [en]

    Despite the comprehensive previous research on different aspects of inventions and externalities spanning both the micro- and macrolevels, no prior studies have, to our knowledge, examined the relationship between the commercialization strategies of inventions/patents and social knowledge spillovers. To bridge this gap in the literature, we examine how such spillovers, measured as forward citations, covary with four commercialization modes: (1) setting up a new firm, (2) commercialization within an existing firm where the inventor either is employed or (3) has an ownership stake, and (4) licensing/selling patents to other firms. Alternatively, an inventor may refrain from commercialization. Utilizing unique survey data on patents owned by small- and medium-sized enterprises and individuals, we provide evidence that commercialization through licensing/selling is the most efficient way of generating knowledge diffusion. We also find some support for new ventures being an important source of knowledge spillovers. © 2023, The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature.

  • 7.
    Eklund, Johan
    et al.
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics.
    Levratto, Nadine
    Universite Paris Nanterre, FRA.
    Ramello, Giovanni Battista
    Universita degli Studi del Piemonte Orientale Amedeo Avogadro, ITA.
    Entrepreneurship and failure: two sides of the same coin?2020In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 54, no 2, p. 373-382, article id SIArticle in journal (Refereed)
    Abstract [en]

    This paper attempts to shed light on the nexus of relationships existing between failure, bankruptcy, institutional context, and local characteristics on one hand and entrepreneurship, firm survival, and performance on the other. The aim is to provide a larger vantage point from which to read the research included in this issue with the overall ambition to contribute to a better understanding of our entrepreneurial societies and the role of failure within markets. In this respect, the focus here is mainly on the institutions governing the bankruptcy procedures which do much more than simply regulating the exit of insolvent firms and protecting creditors’ investments, minimizing the social cost of failures. They set up the revolving doors through which creditors can reinvest the recovered capital in new entrepreneurial projects and failed entrepreneurs can bring back to the market their skills and their entrepreneurial spirit for fostering new and hopefully successful ventures. Therefore, by managing bankruptcy, the institutions are not only protecting the economy. Instead, they have become a tool of economic policy, devoted to the delicate issue of regulating a physiological event to the market while avoiding too much waste of resources. In a more positive perspective, managing insolvency and failure is also a mean to strengthen competitiveness and growth, making it possible to stimulate the market in reshuffling skills and resources into new activities. A deeper understanding can in turn contribute to the implementation of better and more efficient policies by integrating bankruptcy as a natural component of firm and market life. © 2018 The Author(s)

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  • 8.
    Foss, Nicolai J.
    et al.
    Copenhagen Business School, Denmark.
    Andersson, Martin
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics. Entreprenörskapsforum.
    Henrekson, Magnus
    Research Institute of Industrial Economics, Sweden.
    Jack, Sarah
    Stockholm School of Economics.
    Stenkula, Mikael
    Research Institute of Industrial Economics, Sweden.
    Thorburn, Karin
    Norwegian School of Economics.
    Zander, Ivo
    Uppsala University.
    Saras Sarasvathy: recipient of the 2022 Global Award for Entrepreneurship Research2023In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 61, no 1, p. 1-10Article in journal (Refereed)
    Abstract [en]

    Professor Saras Sarasvathy is the recipient of the 2022 Global Award for Entrepreneurship Research. Her research contributions have fundamentally changed and invigorated the conversation in the domain of entrepreneurship research. Sarasvathy’s work on effectuation emphasizes how entrepreneurs operate based on available resources, think in terms of affordable loss rather than profit maximization, leverage trustworthy partnerships, and treat unforeseen contingencies as opportunities rather than problems. It has led and inspired a new generation of researchers in the quest for a better understanding of how entrepreneurs make their decisions and the unfolding of the entrepreneurial process. © 2023, The Author(s).

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  • 9.
    Karlsson, Charlie
    et al.
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics.
    Rickardsson, Jonna
    Jönköping International Business School, SWE.
    Wincent, Joakim
    Universität St. Gallen, CHE.
    Diversity, innovation and entrepreneurship: where are we and where should we go in future studies?2021In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 56, no 2, p. 759-772Article in journal (Refereed)
    Abstract [en]

    In this paper, we review and comment upon the development of the literature on diversity, innovation, and entrepreneurship. In an overview of previous studies and various strands of literatures, we outline and argue that to better understand the intricate dynamic relationships between diversity, innovation, entrepreneurship, and regional development there is a strong need to further develop “the economics of spatial diversity.” We further argue that this development may benefit from combining various literatures based upon sound economic micro-foundations, to develop a more absolute understanding of diversity and fulfill the need of more clear mechanisms for future empirical testing. Obviously, this is important both from a research point of view and in order to provide policymakers with a powerful set of analytical tools. We call for more analytical work and more high-quality empirical studies. With a set of papers, we believe this special issue to provide a contribution in this direction. © 2019, The Author(s).

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    Diversity, innovation and entrepreneurship: where are we and where should we go in future studies?
  • 10.
    Karlsson, Charlie
    et al.
    Blekinge Institute of Technology, School of Management.
    Warda, Peter
    Entrepreneurship and innovation networks2014In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 43, no 2, p. 393-398Article in journal (Refereed)
    Abstract [en]

    In this paper, we give a general introduction to the notion of entrepreneurship and how it has many complex meanings. Entrepreneurs in new firms but also in incumbent firms have a key role in local, regional and national economic development by taking risks to get things done by developing new combinations of ideas and/or doing things differently. In view of this, two of the main questions that are dealt with are: (1) which features make structural differences in institutions and innovation networks remain invariant between decades, and (2) how knowledge about such features can be employed in policy at the national and the regional level. The research questions highlighted in this special issue relate to many pertinent national and regional policy issues. The most apparent concerns conditions conducive for entrepreneurship in the form of new firms and firm growth. In this paper, we also introduce the different contributors to this special issue.

  • 11.
    Lindholm-Dahlstrand, Åsa
    et al.
    Lund University.
    Andersson, Martin
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics.
    Carlsson, Bo
    Case Western Reserve University, USA.
    Entrepreneurial experimentation: a key function in systems of innovation2019In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 53, no 3, p. 591-610Article in journal (Refereed)
    Abstract [en]

    The literature on innovation systems focuses on the supply side (the creation of technology) rather than on how innovations are converted into economic activity and growth via the market (the demand side, and the interface between supply and demand). One implication of this is that there is a dearth of research on the links between innovation systems and economic growth. The purpose of this paper is to begin to fill this gap in the literature. We articulate the function of entrepreneurial experimentation as an essential mechanism for translating new knowledge into economic activity and growth created in innovation systems. We argue that entrepreneurial experimentation comprises both “technical” and “market” experimentation. Spinoffs and acquisitions are proposed as micro-mechanisms that give rise to system-wide entrepreneurial experimentation. Our framework suggests that entrepreneurial experimentation is central in driving both the supply- and the demand-side dynamics of innovation systems, hence linking both innovation systems and entrepreneurship to economic growth. © 2018 The Author(s)

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  • 12.
    Minniti, Maria
    et al.
    Martin J. Whitman School of Management, USA.
    Andersson, Martin
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics.
    Braunerhjelm, Pontus
    KTH, SWE.
    Delmar, Frederic
    EMLYON Business School, FRA.
    Rickne, Annika
    Linköping University, SWE.
    Thorburn, Karin
    Wharton School at University of Pennsylvania, USA.
    Wennberg, Karl
    Linköping University, SWE.
    Stenkula, Mikael
    Research Institute of Industrial Economics (IFN), SWE.
    Boyan Jovanovic: recipient of the 2019 Global Award for Entrepreneurship Research2019In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 53, no 3, p. 547-553Article in journal (Refereed)
    Abstract [en]

    The 2019 Global Award for Entrepreneurship Research has been awarded to Professor Boyan Jovanovic at New York University in the USA. Boyan Jovanovic has developed pioneering research that advances our understanding of the competitive dynamics between incumbent firms and new entrants, entrepreneurial learning and selection processes, and the importance of entrepreneurship for the economy. Key perspectives in his research are that the entrepreneur makes employment choices based on the comparative advantage of his or her skills and that entrepreneurial firms are vehicles of technological change and knowledge diffusion that influence industry dynamics and, in turn, economic growth. © 2019, The Author(s).

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  • 13.
    Storey, David J.
    et al.
    University of Sussex, United Kingdom.
    Andersson, Martin
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics.
    Henrekson, Magnus
    Research Institute of Industrial Economics, Stockholm.
    Jack, Sarah
    Stockholm School of Economics.
    Stenkula, Mikael
    Research Institute of Industrial Economics, Stockholm.
    Thorburn, Karin
    Norwegian School of Economics, Bergen, Norway.
    Wigren-Kristoferson, Caroline
    Malmö University.
    Zander, Ivo
    Uppsala University.
    Per Davidsson: recipient of the 2023 Global Award for Entrepreneurship Research2023In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 61, no 4, p. 1381-1390Article in journal (Other academic)
    Abstract [en]

    Professor Per Davidsson is the recipient of the 2023 Global Award for Entrepreneurship Research. Throughout an extraordinarily productive career, he has made invaluable contributions in building the field of entrepreneurship. His early studies on entrepreneurship and culture and his studies on the growth of small businesses played an important role in the emergence and development of entrepreneurship as a scholarly field of research. He has also, continuously, made more conceptual contributions by critically probing the development of the field, and engaged in writing foundational books that have been used extensively in higher education institutes. By probing and challenging traditional assumptions throughout his career, he has contributed to the refinement and renewal of the field. © 2023, The Author(s).

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  • 14.
    Tavassoli, Sam
    et al.
    Blekinge Institute of Technology, Faculty of Engineering, Department of Industrial Economics.
    Carbonara, Nunzia
    The role of knowledge variety and intensity for regional innovation2014In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 43, no 2, p. 493-509Article in journal (Refereed)
    Abstract [en]

    This paper analyses the effect of variety and intensity of knowledge on the innovation of regions. Employing data for Swedish functional regions, the paper tests the role of the variety (related and unrelated) and intensity of (1) internal knowledge generated within the region and also (2) external knowledge networks flowing into the region in explaining regional innovation, as measured by patent applications. The empirical analysis provides robust evidence that both the variety and intensity of internal and external knowledge matter for regions’ innovation. When it comes to variety, related variety of knowledge plays a superior role.

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