Small firms and economic transformation in Hungary

Futó, Péter; Hoggett, Paul; Kállay, László

doi:10.1080/13511610.1997.9968522

Cited by 6 publications

(3 citation statements)

References 10 publications

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“…may have resulted in specific entrepreneurial aspirations which were different from those in developed market economies (Earle and Sakova, 2000;Smallbone and Welter, 2001a, b;Grilo and Thurik, 2006;Verheul et al, 2006;Krasniqi, 2009). Some authors have explained this in terms of the impact of the supply and demand sides of the economy on patterns of SME development (Storey and Johnson, 1987;Bartlett and Prašinkar, 1995;Futo et al, 1997). The supply side forces push an individual, out of necessity, to establish a new business while demand side forces attract the innovative entrepreneurs who can identify an opportunity.…”

Section: Entrepreneurship and Innovation Activitiesmentioning

confidence: 99%

Entrepreneurship and SME growth: evidence from advanced and laggard transition economies

Hashi

Krasniqi

2011

International Journal of Entrepreneurial Behavior &Amp; Research

134

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If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -This paper seeks to examine the impact of firms' technological capability and other firm and environmental characteristics on the growth of small and medium-sized enterprises (SMEs) in six transition countries at different stages of transition. It compares three advanced Central Eastern European countries (Poland, Hungary, and Czech Republic) with three laggard countries in South Eastern Europe (Albania, Macedonia, and Serbia and Montenegro). Design/methodology/approach -A theoretical framework is proposed based on three groups of factors influencing SME growth: innovative and entrepreneurial features of the firm, characteristics of the firm, and those related to the institutional/business environment. Subsequently this paper uses the Business Environment and Enterprise Performance Survey (BEEPS) conducted by the World Bank/EBRD in 2002 and 2005 to test a number of hypotheses regarding the determinants of SME growth. Findings -The two groups of countries have similarities and differences: both display similar trends with respect to the growth process; both are affected by entrepreneurship activities positively; but the institutional barriers affecting the two groups are somewhat different. It was also found that, despite the growing importance of SMEs in all transition economies, they still face many institutional barriers -which have prevented them from making a greater contribution.Research limitations/implications -The key limitations of the empirical investigation are the qualitative nature of survey data and the shortcomings associated with self-declaration of entrepreneurs. It is important for future research to complement this line of research with panel data. Originality/value -This cross-country study extends current understanding of the determinants of SME growth in various stages of transition economies based on a unique data set. It also provides some implications for policymakers as well as entrepreneurs/managers for improving the growth of SMEs.

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Section: Entrepreneurship and Innovation Activitiesmentioning

confidence: 99%

Entrepreneurship and SME growth: evidence from advanced and laggard transition economies

Hashi

Krasniqi

2011

International Journal of Entrepreneurial Behavior &Amp; Research

134

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“…Indeed, in many transition economies, formal institutions have not been effective in fostering productive entrepreneurship. In those transition economies which have become more supportive of entrepreneurship, Futo et al (1997) assert it is the freedom of business entry and start-up that has contributed to the improvement in the overall framework for entrepreneurship. There is a need, therefore, to reform formal institutions that impede productive entrepreneurship.…”

Section: Formal Institutionsmentioning

confidence: 99%

Fostering productive entrepreneurship in post-conflict economies: the importance of institutional alignment

Williams

Vorley

2017

Entrepreneurship & Regional Development

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The aim of this article is to examine the impact of institutional development on entrepreneurship in post-conflict environments. Drawing on in-depth interviews with Kosovar entrepreneurs the article highlights how the experience of fostering entrepreneurship in a postconflict, new born state is distinct from transition economies. The article finds that Kosovo has not encountered the same institutional challenges which have stymied entrepreneurship in transition economies which have been hampered by 'path extension' of institutions. Instead there has been a 'path break' resulting in a reshaping of formal and informal institutions as supportive of entrepreneurship. However, while positive, the prevailing nature of much entrepreneurial activity is localised with only a limited impact on economic growth. The article concludes by making a number of contributions to institutional theory and policy.

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“…In many transition economies, formal institutions have not been effective in fostering productive entrepreneurship (Williams, & Vorley, 2017). The freedom of business entry and start-up had contributed to the improvement in the overall framework for entrepreneurship (Futo, Hoggett, & Kallay, 1997). Therefore, where formal institutions are not reformed, entrepreneurs/ SE founders/owner-managers may turn to substitutive and informal practices, such as leveraging connections or engaging in corrupt activity, to overcome barriers and circumvent the rules of the game (Aidis, & Adachi, 2007).…”

Section: Formal and Informal Institutionsmentioning

confidence: 99%

Resilience and Growth of Small Enterprises in Post-Conflict Economy

Weligodapola¹

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The purpose of this thesis is to contribute insights into the resilience and growth of small enterprises (SEs) by exploring the experiences of SE founders/owner-managers within a post�conflict context. The findings aim to inform the strategies to become resilient and to grow despite a turbulent environment. This builds on the existent small enterprise resilience and growth literature where it has been recognized that there are a various types of growth strategies for SE owner-managers to become resilient and grow. Yet, little empirical attention has been paid to understanding the resilience and growth of SE founders/owner-managers operating in turbulent post-conflict environments. This study explores the crises faced by SE founders/owner-managers, the effect on these crises on them and the way SE founders/owner-managers perceive their personal resilience to affect their organisational resilience and growth in Sri Lanka, a South Asian emerging economy, a nation of geopolitical importance despite its relatively small size, where, strategically positioned near key maritime sea lanes that transit the Indian Ocean and link Asia with Europe and Africa (the silk route). Although Ceylon gained its independence from Britain, Sri Lanka's political, social, and economic development was constrained by various crises. This never ending, crises attracting economy, was the context to this study. A qualitative approach was used to gather empirical data through in-depth semi-structured interviews with Small Enterprise owners and Informal Conversations with employees/managers at 15 SEs. A maximum variance sampling data technique, snowball sampling techniques and general analytical induction approach were used for data collection and analysis, respectively. The analysis of the data produced three main themes: Micro, Meso and Macro level Crises, Relationships and Networking and The Agentic Role of the Entrepreneur in developing resilience. The main output from the present research is a novel framework of Multi-level Analysis of Crises and SE owner-manager Resilience and growth in post-conflict context. The framework includes elements which can help SE owner-managers to become resilient and grow in a turbulent post-conflict economy. Findings demonstrate the importance of family and relatives, customers, employee, and business relationships in building resilience. Moreover, the Agentic role of the entrepreneur through new process and new soft innovation combined with becoming an achiever, planner and controller is revealed as a strategy to build resilience and grow.

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Small firms and economic transformation in Hungary

Cited by 6 publications

References 10 publications

Entrepreneurship and SME growth: evidence from advanced and laggard transition economies

Entrepreneurship and SME growth: evidence from advanced and laggard transition economies

Fostering productive entrepreneurship in post-conflict economies: the importance of institutional alignment

Resilience and Growth of Small Enterprises in Post-Conflict Economy

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