Description of the track
As Baumol (1991) argued, it is not differences in the supply of entrepreneurial talent that explain differences in economic performance, but rather differences in institutions that determine whether entrepreneurs will put their talents to productive use. So to make the transition to a more Entrepreneurial Society (Audretsch, 1997), institutional reform is needed. But reforming institutions is not an easy task. Most countries have inherited a lot of deeply embedded institutions from the past and now face the challenge of reforming them. Moreover, institutions form a complex, multilayered system of complementary rules, regulations, customs and norms. Simply copying some of Silicon Valley’s more obvious characteristics, like its large venture capital markets or flexible labor market institutions, is unlikely to work in the same way in e.g. the European or Chinese contexts.
The Horizon2020 Project Financial and Institutional Reforms for the Entrepreneurial Society (FIRES) aims to develop a reform strategy that will make Europe more entrepreneurial. It thereby focuses on three broad sets of institutions that govern the flow of knowledge, labor and financial resources to entrepreneurial venturing in Europe. Of course, such a strategy requires sound empirical and conceptual science, but also challenges scientists to translate their academic work into practical reform proposals. In this track, we invite scholars to contribute to this endavour and submit research papers of ongoing research that establish the empirical and conceptual links between institutions, entrepreneurship and economic performance. And we add the challenge to also translate their results into practical reform proposals that our project aims to bring to the European Commission.Key topics of the track
- Establishing the need for and/or desirability of a transition to a more Entrepreneurial Society in Europe.
- The impact of labor market institutions on the willingness of talented people to work in innovative, young, small and medium sized enterprises.
- The interaction of intellectual property rights, public R&D and academic research, knowledge institutions and other institutions affecting the knowledge flows in the economy with entrepreneurial venturing.
- The impact of financial regulation, bank- and financial market institutions and institutional investors on the availability and flow of funds to experimental, high risk, small and medium sized start-ups and enterprises.
- Historical evolution of labor, knowledge and financial institutions and their level of cultural and historical embeddedness in Europe.
- Complex interdependencies between sets of labor, knowledge and financial institutions affecting entrepreneurship in the Europe.
- Reform proposals and ideas that go beyond the usual entrepreneurship policy instruments: education, subsidies and tax cuts, building networks and reducing red tape.
We encourage contributions that address one or more of the listed topics above, using qualitative analyses and case studies, empirical analyses and developing theoretical frameworks. The workshop is also open to research addressing other adjacent and related topics. For this workshop format, we particularly welcome the submission of author(s) and working groups that are willing to discuss their work-in-progress (short papers).
We also invite contributions to this track for the special issue “Institutions for the Entrepreneurial Society” of Small Business Economics Journal that focus on the institutional contexts, broadly defined, that may increase the flow of resources, talent and knowledge to entrepreneurial activity in general and in Europe in particular. The special issue is inspired on and will inform the work currently being done in the EU Horizon2020 project Financial and Institutional Reforms for the Entrepreneurial Society (www.projectfires.eu
We call for pre-proposals/abstracts by June 1st and full manuscripts by August 1st 2017.
For more information find the Call for Papers here