Entrepreneurship across time and space: empirical evidence from Korea

Entrepreneurship across time and space: empirical evidence from Korea This paper investigates the temporal and spatial dynamics of business start-up activities and their determinants. It integrates three perspectives in explaining regional variations in start-ups: (1) spatial heterogeneity that characterizes regional differences in promoting or conditioning start-up activities, (2) temporal dependence that features a self-augmenting and self-reinforcing effect of start-up activities, and (3) spatial dependence that portrays inter-regional interaction of start-up activities across proximate regions. A spatial dynamic panel modeling analysis of the determinants of new manufacturing ventures created in subnational regions of South Korea confirms that, in addition to the importance of regional characteristics, both temporal and spatial dependences of start-up activities are simultaneously in force and play statistically significant roles. To address the joint endogeneity issue of temporal and spatial dependences, we employ the system GMM estimator, which leads to much improved explanation of inter-regional variations in firm creation activities. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Small Business Economics Springer Journals

Entrepreneurship across time and space: empirical evidence from Korea

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Publisher
Springer US
Copyright
Copyright © 2014 by Springer Science+Business Media New York
Subject
Economics / Management Science; Management/Business for Professionals; Microeconomics; Entrepreneurship; Industrial Organization
ISSN
0921-898X
eISSN
1573-0913
D.O.I.
10.1007/s11187-014-9613-1
Publisher site
See Article on Publisher Site

Abstract

This paper investigates the temporal and spatial dynamics of business start-up activities and their determinants. It integrates three perspectives in explaining regional variations in start-ups: (1) spatial heterogeneity that characterizes regional differences in promoting or conditioning start-up activities, (2) temporal dependence that features a self-augmenting and self-reinforcing effect of start-up activities, and (3) spatial dependence that portrays inter-regional interaction of start-up activities across proximate regions. A spatial dynamic panel modeling analysis of the determinants of new manufacturing ventures created in subnational regions of South Korea confirms that, in addition to the importance of regional characteristics, both temporal and spatial dependences of start-up activities are simultaneously in force and play statistically significant roles. To address the joint endogeneity issue of temporal and spatial dependences, we employ the system GMM estimator, which leads to much improved explanation of inter-regional variations in firm creation activities.

Journal

Small Business EconomicsSpringer Journals

Published: Oct 22, 2014

References

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