Informal Investment in Transition Economies: Individual Characteristics and Clusters View Full Text


Ontology type: schema:ScholarlyArticle     


Article Info

DATE

2007-01-11

AUTHORS

László Szerb, Gábor Rappai, Zsolt Makra, Siri Terjesen

ABSTRACT

This paper investigates the factors driving informal investment in Croatia, Hungary and Slovenia. Using Global Entrepreneurship Monitor (GEM) data, we find that the low rates of informal investment activity and the small amounts of investments in these countries are driven by entrepreneurial behaviors consistent with limited market economy experience. We extend prior studies by investigating the role of business ownership, and identify significant differences between individuals with and without business ownership experience in terms of having start-up skills, knowing an entrepreneur and fearing failure. Cluster analysis identifies seven distinct groups of informal investors, and reveals the heterogeneity in terms of investors’ age, gender, level of education, amount of investment, start-up skills, ownership status, income, opportunity perception and country of residence. More... »

PAGES

257-271

References to SciGraph publications

  • 2004-12. Entrepreneurship and Development: The Role of Clusters in SMALL BUSINESS ECONOMICS
  • 2001-06. Barriers to SME Growth in Slovenia in MOCT-MOST: ECONOMIC POLICY IN TRANSITIONAL ECONOMIES
  • 2005-12. What Drives Micro-Angel Investments? in SMALL BUSINESS ECONOMICS
  • 1994-06. Promoting entrepreneurship in Eastern Europe in SMALL BUSINESS ECONOMICS
  • 2007-02-16. Could the Irish Miracle be Repeated in Hungary? in SMALL BUSINESS ECONOMICS
  • Identifiers

    URI

    http://scigraph.springernature.com/pub.10.1007/s11187-006-9019-9

    DOI

    http://dx.doi.org/10.1007/s11187-006-9019-9

    DIMENSIONS

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