In 1959, Penrose highlighted how the firm's organisation of economic activity is based on its perception about the adjustment of production to the market, more than on objective evaluation. So, he underlined not just the importance to identify the nature of the determinants of firm behaviour,...

We study the effects of credit shocks in a model with heterogeneous entrepreneurs, financing constraints, and a realistic firm-size distribution. As entrepreneurial firms can grow only slowly and rely heavily on retained earnings to expand the size of their business, we show that, by reducing...

This study explores the economic factors that are associated with the success of university spin-offs. Drawing on a unique sample of academic entrepreneurs from research institutions in New York State, the article finds that spin-off success is dependent on both the type and size of the academic...

Conventional wisdom suggests that small businesses are innovative engines of Schumpetarian growth. However, as small businesses, they are likely to face credit rationing in financial markets. If true then policies that promote lending to small businesses may yield substantial economy-wide...

What is the interrelationship among formal institutions, social networks, and new venture growth? Drawing on the theory of institutional polycentrism and social network theory, we examine this question using data on 637 entrepreneurs from four different countries. We find the confluence of weak...

This monograph presents the existing socio-economic conditions of the functioning of society and the economy in Poland and indicates current problems, regarding management. Taking into account these conditions, underlines the trends, together with a proposal for specific solutions to selected...