We investigate the determinants of start-up financing in 41 countries, using theGlobal Entrepreneurship Monitor surveys for 1998-20032. High quality of property rightsincreases both the total volume of finance and the use of external finance for theindividual start-up. The size of the formal...

This paper presents an account of the environment faced by entrepreneurs in Russia. Insection one we give a brief introduction to the country which is followed by theoverview of a public policy on small and medium enterprises in the next section. Thecurrent state of SMEs and some particularities...

By applying regulatory focus theory, this paper investigates the impact of both initialconfidence and of exactness of growth expectations on subsequent financialperformance of the small firms. Drawing on the unique data set based on the repeatedsurvey design, we make one of the first attempts to...

In this paper we use a comparative perspective to explore the ways in which institutions andnetworks have influenced entrepreneurial development in Russia. We utilize GlobalEntrepreneurship Monitor (GEM) data to study the effects of the weak institutionalenvironment in Russia on...

Using data on 157 large companies in Poland and Hungary this paper employs Bayesianstructural equation modeling to examine interrelationships between corporategovernance, managers’ independence from owners in terms of strategic decision-making,exporting and performance. It is found that...

This paper presents an empirical study based on a survey of 399 owners of small and mediumsize companies in Lithuania. Applying bivariate and ordered probit estimators, we investigatewhy some business owners expect their firms to expand, while others do not. Our mainfindings provide evidence...

Using panel data on large Polish firms this paper examines the relationship between corporatecontrol structures, sales growth and the determinants of employment change during the period 1996-2002. We find that privatised and de novo firms are the main drivers of employment growth andthat, in the...

This paper examines the determinants of short-term wage dynamics, using asample of large Hungarian companies for the period of 1996-1999. We test thebasic implications of an efficient contract model of bargaining between theincumbent employees and the managers, which we are unable to reject....

We examine financial constraints and forms of finance used for investment, byanalysing survey data on 157 large privatised companies in Hungary and Poland for theperiod 1998 – 2000. The Bayesian analysis using Gibbs sampling is carried out toobtain inferences about the sample companies’...