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The link between entrepreneurship and informal investment: An international comparison

机译:企业家精神与非正式投资之间的联系:国际比较

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This study explores the link between entrepreneurship and informal investment. Using Global Entrepreneurship Monitor data, we examine what types of individuals invest in new businesses. The results reveal that individuals who engage in entrepreneurial activity are, on average, three times more likely to invest in new businesses than those who do not. We also find that individuals with entrepreneurial networks are more likely to invest in new businesses. Moreover, we present estimation results for the odds ratio of business ownership/management and informal investment, as well as of entrepreneurial networks and informal investment, in each country. We find that the link between entrepreneurship and informal investment differs across countries. Specifically, while the proportion of individuals who start businesses or engage in informal investment in Japan is lower than in other countries, the relationship between entrepreneurial propensity and informal investment in Japan is the greatest among 30 Organisation for Economic Co-operation and Development countries, suggesting the presence of small-world phenomena in entrepreneurship in Japan.
机译:本研究探讨了企业家精神与非正式投资之间的联系。使用全球创业监测数据,我们检查哪些类型的个人投资新业务。结果表明,从事企业家活动的个人平均均为投资新业务的可能性比那些没有的人。我们还发现,拥有企业家网络的个人更有可能投资新的业务。此外,我们在每个国家提供业务所有权/管理和管理和非正式投资以及创业网络和非正式投资的估算结果。我们发现,企业家精神与非正式投资之间的联系不同。具体而言,虽然开始企业或在日本非正式投资的个人的比例低于其他国家,但日本企业家倾向和非正式投资之间的关系是30个经济合作和发展国家组织中最大的建议。日本企业家精神的小世界现象存在。

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