Skip to main navigation menu Skip to main content Skip to site footer

Vol. 4 No. 4 (2016)
Entrepreneurship in the Global Context

Thematic Articles

Youth Entrepreneurship in Visegrad Countries

https://doi.org/10.15678/EBER.2016.040407

Published 2016-12-03

  • Marian Holienka
    • ,
  • Anna Pilková
    • ,
  • Zuzana Jančovičová

Marian Holienka
Comenius University in Bratislava, Faculty of Management, Department of Strategy and Entrepreneurship

Anna Pilková
Comenius University in Bratislava, Faculty of Management, Department of Strategy and Entrepreneurship

Zuzana Jančovičová
Comenius University in Bratislava, Faculty of Management, Department of Economics and Finance

Abstract

Objective: The aim of our paper is to analyse the entrepreneurial activity drivers of youth and young adults in Visegrad countries, considering the opportunity/necessity motivation dichotomy.

Research, Design & Methods: We employ the Global Entrepreneurship Monitor data for young individuals (18 to 34 years) from V4 countries for years 2011 to 2013. We use the binomial logistic regression modelling with logit transformation. Separate models are constructed for youth and young adults, as well as for opportunity- and necessity-driven entrepreneurial activity.

Findings: We found common drivers and distinctive attributes affecting involvement of young people in business start-up according to its motivation. Self-confidence and access to networks are universally important factors. In most examined cases, fear of failure and being a female reduces chance of business start-up. Especially among youth, being a student significantly inhibits involvement in enterprising efforts.

Implications & Recommendations: In order to support youth entrepreneurship, emphasis should be put on education and training to build skills and knowledge required for business start-ups, together with capacity to spot opportunities, and reduce fear of failure. Formal and informal networking plays an important role in youth entrepreneurship.

Contribution & Value Added: Based on empirical analysis, our findings point out the key drivers of entrepreneurial activity among young people in V4 countries. We show directions for policy makers aiming to foster entrepreneurship within young generation as both way to exploit available business opportunities, as well as reaction to necessity situations.

Keywords

Entrepreneurship, Visegrad countries (V4), youth, opportunity, necessity, drivers

PDF

References

  1. Ajzen, I. (1991). The Theory of Planned Behavior. Organizational Behavior and Human Decision Processes, 50(2), 179-211.
  2. Arenius, P., & Minniti, M. (2005). Perceptual Variables and Nascent Entrepreneurship. Small Business Economics, 24(3), 233-247.
  3. Arenius, P., & Kovalainen, A. (2006). Similarities and differences across the factors associated with women's self-employment preference in the Nordic countries. International Small Business Journal, 24(1), 31-59.
  4. Bandura, A. (1994). Self-efficacy. In V.S. Ramachaudran (Ed.), Encyclopedia of human behavior (pp. 71-81). Vol. 4. New York: Academic Press.
  5. Bergmann, H., & Sternberg, R. (2007). The changing face of entrepreneurship in Germany. Small Business Economics, 28(2), 205-221.
  6. Bjerke, B. (2013). About Entrepreneurship. Cheltenham: Edward Elgar.
  7. Bosma, N. (2013). The Global Entrepreneurship Monitor (GEM) and its impact on entrepreneurship research. Foundations and Trends in Entrepreneurship, 9(2), 143-248.
  8. Ceptureanu, S.I. (2015). Romanian Young Entrepreneurs Features: An Empirical Survey. The Annals of the University of Oradea - Economic Sciences, 25(1), 1068-1078.
  9. Davidsson, P., & Honig, B. (2003). The role of social and human capital among nascent entrepreneurs. Journal of Business Venturing, 18(3), 301-331.
  10. Davis, A.E. (2012). Women's Entrepreneurship. In M.R. Marvel (Ed.), Encyclopedia of New Venture Management (pp. 469-471). Thousand Oaks: Sage Publications.
  11. Driga, O., Lafuente, E., & Vaillant, Y. (2008). Reasons for the relatively lower entrepreneurial activity levels of rural women in Spain. Sociologia Ruralis, 49(1), 70-96.
  12. European Commission (2009). Youth in Europe. A statistical portrait. 2009 edition. Luxembourg: Publications Office of the EU.
  13. Giacomin, O., Janssen, F., Guyot, J., & Lohest, O. (2011). Opportunity and/or necessity entrepreneurship? The impact of the socio-economic characteristics of entrepreneurs. MPRA Paper No. 29506. Munich: MPRA.
  14. Holienka, M. (2014). Youth entrepreneurship in Slovakia: a GEM based perspective. Comenius Management Review, 8(2), 41-50.
  15. Holienka, M., Jančovičová, Z., & Kovačičová, Z. (2016). Drivers of women entrepreneurship in Visegrad countries: GEM evidence. Procedia - Social and Behavioral Sciences, 220, 124-133.
  16. Chigunta, F. (2002). Youth Entrepreneurship: Meeting the Key Policy Challenges. Oxford: Wolfson College, Oxford University.
  17. Integral Assets Consulting (2006). Youth Entrepreneurship. Theory, Practice and Field Development. A Background Paper prepared for the W. K. Kellog Foundation. Retrieved on May 5, 2016 from http://extension.missouri.edu/exceed/documents/YouthEntrepreneurshipKelloggFoundation2007.pdf
  18. Kew, J., Herrington, M., Litovsky, Y., & Gale, H. (2013). Generation Entrepreneur? The state of global youth entrepreneurship. London: Youth Business International.
  19. Kim, P.H., Aldrich, H.E., & Keister, L.A. (2006). Access (Not) Denied: The Impact of Financial, Human, and Cultural Capital on Entrepreneurial Entry in the United States. Small Business Economics, 27(1), 5-22.
  20. Kirzner, I.M. (1979). Perception, opportunity and profit. Chicago: University of Chicago Press.
  21. Koellinger, P., Minnitic, M., & Schaded, C. (2007). ”I think I can, I think I can”: Overconfidence and Entrepreneurial Behavior. Journal of Economic Psychology, 28(8), 502-527.
  22. Koellinger, P. (2008). Why are some entrepreneurs more innovative than others? Small Business Economics, 31(1), 21-37.
  23. Koellinger, P., Minniti, M., & Schade, C. (2013). Gender Differences in Entrepreneurial Propensity. Oxford Bulletin of Economics and Statistics, 75(2), 213-234.
  24. Krueger, N.F., Reillyb, M.D., & Carsrudc, A.L. (2000). Competing models of entrepreneurial intentions. Journal of Business Venturing, 15(5-6), 411-432.
  25. Langowitz, N., & Minniti, M. (2007). The Entrepreneurial Propensity of Women. Entrepreneurship Theory and Practice, 31(3), 341-364.
  26. Lonsburry, M., & Glynn, M.A. (2001). Cultural entrepreneurship: stories, legitimacy, and the acquisition of resources. Strategic Management Journal, 22(6-7), 545-564.
  27. Lukeš, M., Zouhar, J., Jakl, M., & Očko, P. (2013). Faktory ovlivnujici vstup do podnikani: Zacinajici podnikatele v Ceske republice. Politická ekonomie, 61(2), 229-247.
  28. Minola, T., Criaco, G., & Cassia, L. (2014). Are youth really different? New beliefs for old practices in entrepreneurship. International Journal of Entrepreneurship and Innovation Management, 18(2/3), 233-259.
  29. Morales-Gualdrón, S.T., & Roig, S. (2005). The new venture decision: an analysis based on the GEM project database. International Entrepreneurship and Management Journal, 1(4), 479-499.
  30. North, D.C. (1990). Institutions, institutional change and economic performance. Cambridge: Cambridge University Press.
  31. Pilková, A., Holienka, M., Kovačicová, Z., & Rehák, J. (2014). Podnikanie na Slovensku: aktivita, inkluzivita, prostredie. Bratislava: Univerzita Komenskeho v Bratislave, Fakulta managementu.
  32. Portes, A. (1998). Social Capital: Its Origins and Application in Modern Sociology. Annual Review of Sociology, 18, 109-127.
  33. Ramos-Rodríguez, R.A., Medina-Garrido, J.-A., Lorenzo-Gómez, J.-D., & Ruiz-Navarro, J. (2010). What you know or who you know? The role of intellectual and social capital in opportunity recognition. International Small Business Journal, 28(6), 566-582.
  34. Ramos-Rodríguez, R.A., Medina-Garridoa, J.A., & Ruiz-Navarrob, J. (2012). Determinants of hotels and restaurants entrepreneurship: A study using GEM data. International Journal of Hospitality Management, 31(2), 579-587.
  35. Reynolds, P.D., Camp, S.M., Bygrave, W.D., Autio, E., & Hay, M. (2001). Global Entrepreneurship Monitor, 2001 Executive Report. Retrieved on January 10, 2016 from http://unpan1.un.org/intradoc/groups/public/documents/un/unpan002481.pdf
  36. Singer, S., Amorós, J.E., & Arreola, D.M. (2015). Global Entrepreneurship Monitor 2014 Global Report. London: GERA.
  37. United Nations (2014). Definition of Youth. New York, NY: United Nations Department of Economic and Social Affairs.
  38. Van Der Sluis, J., Van Praag, M., & Vijverberg, M. (2008). Education and Entrepreneurship Selection and Performance: A Review of the Empirical Literature. Journal of Economic Surveys, 22(5), 795-841.
  39. Verheul, I., Thurik, R., Hessels, J., & van der Zwan, P. (2010). Factors Influencing the Entrepreneurial Engagement of Opportunity and Necessity Entrepreneurs. EIM Reseacrch Reports No. H201011. Zoetermeer: EIM.
  40. Wagner, J. (2005). Der Noth gehorchend, nicht dem eignen Trieb – Nascent necessity and opportunity entrepreneurs in Germany: Evidence from the Regional Entrepreneurship Monitor. IZA Discussion Paper No. 1608. Bonn: IZA.
  41. Wagner, J. (2007). What a Difference a Y makes - Female and Male Nascent Entrepreneurs in Germany. Small Business Economics, 28(1), 1-21.
  42. Wong, P.K., & Lee, L. (2005). Antecedents for entrepreneurial propensity in Singapore. NUS Entrepreneurship Centre working papers No. WP2005-12. Singapore: NUS.

Downloads

Download data is not yet available.

Similar Articles

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 > >> 

You may also start an advanced similarity search for this article.