From Industrial Organization to Entrepreneurship (eBook)

Preface 5
A Festschrift to David B. Audretsch 5
Contents 8
Part I: Family 12
Scenes from a Marriage 13
The Courtship 13
The Man Without a Passport 15
The Proposal 15
The Ring 16
The Marriage 17
The Wall 17
The Fall of the Wall 18
The Family 18
The Return of the Prodigal Academic 19
David Audretsch, International Man of Mystery 20
Transitions 20
I Will Always Be Proud to Call Him My Father 21
My Dad, the Athlete, Entertainer, Phrase Philosopher, Conformist and Analogist 26
The Athlete 26
The Entertainer 27
The Phrase Philosopher 27
Transition David 28
The Conformist 28
The Analogist 29
Perhaps David Audretsch Is Not a Good Man 30
Is David Audretsch a Good Man? 30
Henry David Bruce Audretsch: A Retrospective … Perhaps 35
Henry David Bruce Audretsch: A Retrospective … Perhaps 35
Distinguished Professor Dr. David B. Audretsch: World Renowned Researcher – Legendary Icon in Entrepreneurship 38
Background 38
International Impact 39
Max Planck Institute of Economics in Jena, Germany 39
Research Impact 40
Policy Impact 41
Special Honors 41
Personal Research Collaborations 42
Personnel Reflections 44
References 45
A Journey Through Entrepreneurship 46
Introduction 46
Audretsch’s Distinction: Entrepreneurial vs Managerial Economies 49
So What Is the New Economy? 50
Implications for My Own Work 54
In Conclusion 58
References 60
Part II: Creating a Research Topic and a Field 61
The Symmetry of Acs and Audretsch: How We Met, Why We Stuck and How We Succeeded 64
The Symmetry of Acs and Audretsch: How We Meet, Why We Stuck and How We Succeeded 64
References 75
Visions of the Past: David was Always There 76
Visions of the Past: David was Always There 76
Comments 80
Structural Change, Knowledge Spillovers and the Role of SMEs and Entrepreneurship 81
Introduction 81
The Role of Small Businesses and Entrepreneurship 2.0 82
Crises, Structural Change and Entrepreneurship 84
Looking Ahead – What to Expect? 85
Global Structural Change 86
SMES, Entrepreneurship and Employment 88
Start-ups, Crises and Employment 91
Policy Implications 93
Taxes 93
Knowledge Provision: Institutional Setup and Knowledge Investments 94
Labor Market Policies and Innovation 95
Dynamic Markets: Angels, Exit and Competition 95
Concluding Remarks 97
References 97
David B. Audretsch: Spilling Knowledge All Over the World 99
David B. Audretsch: Spilling Knowledge All Over the World 99
References 101
The Shape of Things to Come 103
The Meeting 103
Economic Growth and Wealth Creation: Through the Macro Lens 105
Growth, Innovation and Entrepreneurship 108
The Rise of Information Monopolies 113
Conclusion 119
References 120
David Audretsch: A Source of Inspiration, a Co-author, and a Friend 124
Beginning 124
References 127
David: A Cultural Entrepreneur 128
David: A Cultural Entrepreneur 128
David Audretsch and International Business: Bringing It All Back Home 131
Introduction 131
From MNEs to Small Firms 133
From Small Firms to Localized Knowledge Spillovers and Cities 134
From Knowledge Spillovers to Entrepreneurship and Agency 136
Bringing It All Back Home: New Directions in IB 139
Emerging Markets 139
International and Comparative Entrepreneurship 140
Knowledge Economy, Cities And Clusters 142
Conclusions 144
References 145
Regional Trajectories of Entrepreneurship and Growth 150
The Important Role of Entrepreneurship for Innovation and Growth 150
The Long-Term Persistence of Regional Levels of Entrepreneurship 151
What Is a Regional Culture of Entrepreneurship? 153
The Two Layers of Entrepreneurship Culture: Systemizing a Multifaceted Phenomenon 155
Persistence of Regional Innovation Activities 157
Policy Implications 158
Avenues for Further Research 159
References 160
David Audretsch and New Directions in Spillover Academic Entrepreneurship 164
Introduction 164
Spillovers and Universities 165
New Directions 165
University Heterogeneity 166
Student and Alumni Entrepreneurship 166
Knowledge Spillover Entrepreneurship Processes 167
Conclusion 168
References 168
David Audretsch – A Bibliometric Portrait of a Distinguished Entrepreneurship Scholar 170
Introduction 170
The Most Highly Appreciated Scientific Contributions by David Audretsch 172
Key Publications Channels Used by Audretsch and Their Frequency Over Time 172
The Central Analytical Concepts in David Audretsch’s Scientific Publications 178
David Audretsch’s Network of Co-authors 181
David Audretsch’s Scientific Peers and Predecessors 185
Authors That Frequently Has Cited David Audretsch 188
The Geographical Reach of David Audretsch’s Scientific Influence 189
Conclusions 190
References 190
David Audretsch: The Capacity to Design and to Influence a Research Agenda 194
Introduction 194
Impact 196
Entrepreneurial Intensity and Economic Development 198
Turbulence and Regularities in the Size Distribution of Firms: Gibrat Law 199
Interfirm Heterogeneity and Survival 200
Policy Rationales and Its Evolution 201
References 202
Education, Human Capital Spillovers and Productivity: Evidence from Swedish Firm Level Production Functions 204
Introduction 205
Human Capital Externalities and Social Return to Education 206
Data and Variables 209
Individual Data 210
Regional Units of Analysis 210
Theoretical and Empirical Approach 211
Empirical Estimates of Human Capital Spillovers 212
Stochastic Frontier Production Functions 213
Conclusions and Summary 216
Appendix 1 219
Appendix 2 219
References 223
Part III: Creating a Community 225
Productivity Slowdown, Innovation and Industry Dynamics 228
Introduction 229
The Decline in Productivity Growth 229
Explanations for the Slowdown in Productivity Growth 231
Low Investment in Tangible and Intangible Assets 231
Complementary Investment to Exploit the Productivity Potential of Digitalisation 231
Technological Potential Exhausted 232
Growing Productivity Differential Between Firms 233
Productivity Development in the Aftermath of the Great Economic Crisis 235
Dynamics in the Corporate Landscape 236
Business Demographics in Aging Societies 236
Innovation Policies to Stimulate Productivity Growth 238
References 239
Dr. Audretsch: or How I Learned to Stop Worrying and Love Doing Small Business Research 241
Dr. Audretsch: or How I Learned to Stop Worrying and Love Doing Small Business Research 241
References 243
“I Want to, But I Also Need to”: Start-Ups Resulting from Opportunity and Necessity 244
Introduction 244
Motivations for Becoming an Entrepreneur and their Links to Entrepreneurial Output 246
Entrepreneurial Motives 246
The Influence of Motivational Factors on Entrepreneurial Development 247
Data Set and Descriptives 248
Sample 248
Motivation to Become an Entrepreneur 249
Who Are the Three Start-up Types? 251
Empirical Analysis 255
Descriptives: Survival and Job Creation 255
Regression Analysis: Business Failure and Job Creation 257
Discussion, Conclusion and Future Research 260
References 261
Working with David on Both Sides of the Atlantic 263
Begin 263
Working with David on Both Sides of the Atlantic 263
Festschrift to David B. Audretsch 267
Introduction 267
David Audretsch’s Impact in our Academic Work: Grasping the Beauty of Smallness and Newness 268
David Audretsch’s Impact in the Basque Entrepreneurial Ecosystem: Harvesting the Fruit 271
Conclusions 272
References 273
An Overview of the Economics of Entrepreneurship and Small Business: The Legacy of David Audretsch 274
Introduction 275
The Economics of Entrepreneurship and Small Business 276
Main Results 278
Bibliometric Findings 278
Findings from Content Analysis 285
How Many Jobs Do Entrepreneurs Create? 285
Are Small Entrepreneurial Firms More Innovative Than Large Corporations? 286
Do Tax Cuts Stimulate Entrepreneurship? 286
Why Are Minority Groups Less Likely to Be Entrepreneurs in Britain and America? 287
Do Banks Ration Credit to New Enterprises, and Do Capital Constraints Significantly Impede Entry into Entrepreneurship? 287
How Successful Are Loan Guarantee Schemes in Providing Credit to New Enterprises? 287
Which Entrepreneurial Ventures Are Most Likely to Survive and Grow? 288
Why Do Entrepreneurs Work So Hard for Such Little Pay? 288
Does Entrepreneurship Cause Economic Growth? 289
Should Governments Encourage or Discourage Entrepreneurship? 289
Conclusions and Discussion Regarding Future Research Avenues 291
References 292
Location and Firm Performance 302
Introduction 302
Location and Firm Growth 303
Which Kinds of Firms/Industries Benefit from Localized Knowledge Resources? 304
What Constitutes Localized Knowledge Resources? 305
How to Measure Proximity to Localized Knowledge Resources? 306
Location and Firm Growth: State of the Art 306
Cultural Diversity and Entrepreneurship 306
The Effect of Cultural Diversity on Entrepreneurship: Empirical Evidence from Different Countries 307
Linking Cultural Diversity to Economic Variables Other Than Entrepreneurship 308
How to Measure Cultural Diversity 309
Cultural Diversity and Entrepreneurship: State of the Art 310
Conclusion and Outlook 310
References 311
The Inclusive Vision 313
The Inclusive Vision 313
References 316
You Made it the Best of Times 317
You Made it the Best of Times 317
On Regional Innovator Networks as Hubs for Innovative Ventures 319
Introduction 319
Innovation, New Ventures and the Innovator Network 321
Database and Variables 323
Database 323
Incorporations 324
Innovator Network 324
Combination of both 325
Variables 326
Dependent Variables 328
Control for Regional Differences 328
Independent Variables 328
Control Variables 329
Method 330
Innovation and Survival 330
Innovator Network and Innovative Output 331
Innovator Network and Survival 331
Empirical Results 332
Innovation and Survival 332
Innovator Network and Innovative Output 332
Innovator Network and Survival 335
Discussion and Conclusions 337
Appendix 339
References 341
The Emergence of Parental Entrepreneurship: Some Thoughts About Family Life, Professional Careers and Entrepreneurship 343
Introduction 343
About Turning Points in Life 343
When Private Issues Become Professionally Relevant 344
Parents’ Strategies and Solutions: The Emergence of Parental Entrepreneurship 346
Parental Entrepreneurship: The Importance of the Phenomenon 349
Conclusion 350
References 350
Financial and Institutional Reforms for an Entrepreneurial Society 352
Introduction 352
What Entrepreneurs need 354
Entrepreneurs need: 354
Imagine better finance… 355
Imagine more secure livelihoods… 356
Imagine smarter IPR… 358
…it’s easy if you try 360
References 360
Entrepreneurship in Public Policy Education: The Willy Brandt School as a Case 362
Introduction 362
Entrepreneurship as a Core Element of a Public Policy Curriculum 364
Policy Entrepreneurship 366
Social Entrepreneurship 367
Profile of the Willy Brandt School of Public Policy at the University of Erfurt 369
Transferring Entrepreneurship Education into a Public Policy Program 370
Entrepreneurship Education 371
Teaching Policy Entrepreneurship 372
Teaching Social Entrepreneurship 373
Conclusion and Outlook 374
References 375
Connecting People and Knowledge: Knowledge Spillovers, Cognitive Biases, and Entrepreneurship 378
Introduction 378
Cognitive Biases Revealing Ex Ante Knowledge 380
Cognitive Biases Revealing Knowledge from Entrepreneurial Action 382
Policy Implications for Schumpeterian and Kirznerian Entrepreneurship 385
Conclusion 387
References 388
Where Would I Be If My 25 Year-Old Self Was Aware of the Gravitas of Dr. David Audretsch? 391
The Gravitas of Dr. David Audretsch 391
References 393
The Multidisciplinary Entrepreneurship Scholar 395
Multidisciplinary Scholarship 396
Multidisciplinary Economics? 396
Rigor and Relevance: Small Business Economics for the Real World 397
References 397
Thoughts About David 398
Part IV: Creating the Future 401
Building Stronger Research Communities and Collaboration Between Established and Young Scholars 403
Introduction 403
Three Secrets of David Audretsch 404
Towards a Successful Integration of New and Established Communities of Scholars 406
Conclusion and Future Plans 408
References 409
“Lessons from David Audretsch” in Festschrift for David Audretsch 410
Lessons from David Audretsch 410
Off to New Shores: Knowledge Spillovers Between Economics and Psychology or How I Published with David Audretsch in PLOS One 413
Knowledge Spillovers Between Economics and Psychology 413
References 417
A Brief Case Study of the Audretsch Form of Davidial Entrepreneurship Research Ecosystems 418
Introduction 418
Boundaries of Place and Space 419
Conclusion 421
References 422
David Audretsch Has Impacted My Academic Life in Many Ways and I Would Like to Use This Opportunity to Thank Him for His Tremendous Support 424
David Audretsch: A Great Mind, An Outstanding Researcher, and A Humble Individual 426
References 429
Happy Birthday, David Audretsch: And All That Jazz 430
All That Jazz 430
A Simple Behavioral Model of Stochastic Knowledge Accumulation 433
Introduction 433
A Simple Example of Stochastic Knowledge Accumulation with Bounded Rationality 435
Discussion 437
Conclusion 438
References 438
David Audretsch: A Literary Steckbrief 439
Introduction 439
Data and Methods 440
Results and Discussion 440
Keyword Analyses 441
Additional Analyses 442
Conclusion 443
Wings to Escape the Roots 445
The Technology Transfer Society 445
Spatial Proximity in the German Biopharmaceutical Industry 446
Linking David to My Roots 447
References 449
Professor David Audretsch: My Doktorvater 450
My Doktorvater 450
Building Entrepreneurial Societies Through Entrepreneurial Ecosystems and Business Incubators 452
Introduction 452
Broad View: Introducing the Entrepreneurial Ecosystem to the Entrepreneurship Research Field 453
Opening the Black Box of Entrepreneurial Ecosystems: The Role of Business Incubators 456
Entering the Research Community: Advices and Recommendations to PhD Students 458
Best Wishes to David and Highlighted Mentoring Skills 461
David B. Audretsch, a Gatekeeper and Globetrotter 463
From Acquaintances, to Colleagues, to Friends (Silvio Vismara) 463
How I Grew Up from a Chick to a Pig on His Farm, or: How David Supported My Academic Career (Katharine Wirsching) 465
First a Waive, Then the World (Jonah Otto) 467
Sharing his Passion for Global Opportunities with Students 469
David and Internationalization: Not Just Programs, but People 472
Reference 472