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Productive entrepreneurship and the effectiveness of insolvency legislation: a cross-country study

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posted on 2018-04-13, 12:58 authored by Kun FuKun Fu, Karl Wennberg, Bjorn Falkenhall
This paper studies the association between the effectiveness of insolvency regulations and entrepreneurship using multilevel modeling of about 300,000 individuals in 27 countries over the 2005–2010 period. We investigate the relationship between three different measures of “resolving insolvency” (time, cost, and recovery rate) from the World Bank and four different measures of entrepreneurship from the Global Entrepreneurship Monitor, controlling for relevant individual- and country-level facets. We find that opportunity-driven and innovation-oriented entrepreneurs are more severely affected by onerous insolvency regulations than necessity-motivated entrepreneurs. However, entrepreneurs envisioning rapid employment growth are not affected by onerous insolvency regulations. We discuss contributions to comparative entrepreneurship research and public policy.

Funding

Swedish Research Council

History

School

  • Loughborough University London

Published in

Small Business Economics

Volume

54

Pages

383 - 404

Citation

FU, K., WENNBERG, K. and FALKENHALL, B., 2018. Productive entrepreneurship and the effectiveness of insolvency legislation: a cross-country study. Small Business Economics, 54, pp.383-404.

Publisher

Springer Verlag

Version

  • VoR (Version of Record)

Rights holder

© The Authors

Publisher statement

This work is made available according to the conditions of the Creative Commons Attribution 4.0 Unported Licence (CC BY). Full details of this licence are available at: http://creativecommons.org/licenses/by/4.0

Acceptance date

2017-10-07

Publication date

2018-04-18

Copyright date

2018

Notes

This is an Open Access Article. It is published by Springer under the Creative Commons Attribution 4.0 Unported Licence (CC BY). Full details of this licence are available at: http://creativecommons.org/licenses/by/4.0/

ISSN

0921-898X

eISSN

1573-0913

Language

  • en

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