Entrepreneurial Motivation and Business Performance: Evidence from a French Microfinance Institution
| Autor: | Anastasia Cozarenco, Renaud Bourlès |
|---|---|
| Přispěvatelé: | Aix-Marseille Sciences Economiques (AMSE), École des hautes études en sciences sociales (EHESS)-Aix Marseille Université (AMU)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS), CERMi, Centre for European Research in Microfinance, Montpellier Research in Management (MRM), Université Montpellier 1 (UM1)-Université Paul-Valéry - Montpellier 3 (UPVM)-Université Montpellier 2 - Sciences et Techniques (UM2)-Université de Perpignan Via Domitia (UPVD)-Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School-Université de Montpellier (UM), LabEx 'Entrepreneurship' (University of Montpellier, France), Groupement de Recherche en Économie Quantitative d'Aix-Marseille (GREQAM), École Centrale de Marseille (ECM)-École des hautes études en sciences sociales (EHESS)-Centre National de la Recherche Scientifique (CNRS)-Aix Marseille Université (AMU), Université Montpellier 1 (UM1)-Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School-Université Paul-Valéry - Montpellier 3 (UPVM)-Université de Montpellier (UM)-Université Montpellier 2 - Sciences et Techniques (UM2)-Université de Perpignan Via Domitia (UPVD), École des hautes études en sciences sociales (EHESS)-École Centrale de Marseille (ECM)-Centre National de la Recherche Scientifique (CNRS)-Aix Marseille Université (AMU), Université Paul-Valéry - Montpellier 3 (UPVM)-Université de Perpignan Via Domitia (UPVD)-Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School-Université de Montpellier (UM) |
| Jazyk: | angličtina |
| Rok vydání: | 2018 |
| Předmět: |
Economics and Econometrics
Entrepreneurship Labour economics media_common.quotation_subject Context (language use) law.invention Multivariate probit model law 0502 economics and business Institution business survival Classical economics Endogeneity 050207 economics Robustness (economics) media_common Microfinance Stylized fact opportunity and necessity entrepreneurs 05 social sciences 1. No poverty [SHS.ECO]Humanities and Social Sciences/Economics and Finance General Business Management and Accounting loan repayment business microcredit 8. Economic growth Business 050203 business & management |
| Zdroj: | Small Business Economics Small Business Economics, Springer Verlag, 2018, 51 (4), pp.943-963. ⟨10.1007/s11187-017-9961-8⟩ Small Business Economics, 2018, 51 (4), pp.943-963. ⟨10.1007/s11187-017-9961-8⟩ |
| ISSN: | 0921-898X 1573-0913 |
| Popis: | International audience; This article examines the link between entrepreneurial motivation and business performance in the French microfinance context. Using hand-collected data on business microcredits from a Microfinance Institution (MFI), we provide an indirect measure of entrepreneurial success through loan repayment performance. Controlling for the endogeneity of entrepreneurial motivation in a bivariate probit model, we find that "necessity entrepreneurs" are more likely to have difficulty repaying their microcredits than "opportunity entrepreneurs". However, type of motivation does not appear to make a difference to business survival. We build a stylized model to develop formal arguments supporting this outcome. We test for the robustness of our results using parametric duration models, and show that necessity entrepreneurs experience difficulties in loan repayment earlier than their opportunity counterparts, corroborating our initial findings. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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