Suchergebnisse

Entrepreneurial Intentions (EI) form the basis of entrepreneurial behavior. Consequently, and in order to raise entrepreneurship levels in any environment, the desirability to launch start-ups must be stimulated. This thesis aims at investigating the effect of the formal institutional environment on entrepreneurial intentions (EI) in the context of emerging countries, using a panel data structure observation of 25 emerging economies classified by the MSCI and the IMF over the timeframe of five years from 2014 until 2018. One dependent variable (EI), six formal institutional explanatory variables and two macro-economic control variables were included in the study. Data analyses were carried out on Stata software, and the results revealed that three factors significantly influenced entrepreneurial intentions (EI) in the selected developing countries. Financing for Entrepreneurs and Governmental Policies and Support had a significant positive impact on EI, while Starting a Business had a significant negative impact on EI. Discussion of the results and the limitations of the study are included. ; ÖZ: Girişimcilik niyetleri, girişimcilik davranışının temelini oluşturur. Sonuç olarak, ve herhangi bir ortamda girişimcilik seviyesini desteklemek için, işe başlamaların istenebilirliği teşvik edilmelidir. Bu tez, MSCI ve IMF tarafından sınıflandırılan 25 ülkeden 2014'e 2018'e kadar olan beş yıllık süre zarfında panel veri yapısı gözlemi kullanılarak, resmi bir kurumsal ortamın, girişimci niyetler üzerindeki gelişmekte olan ekonomi bağlamındaki etkisini araştırmayı amaçlamaktadır. Çalışmaya kurumsal faktörler ve iki açıklayıcı faktör dahil edildi, Stata yazılımı üzerinde veri analizleri yapıldı ve Rastgele Etki Regresyon analizlere göre Girişimciler ve Devlet Destek ve Politikaları için Finansmanın seçilen ülkelerde Girişimci Amaçlar üzerinde önemli bir olumlu etkisi olduğunu ortaya koydu. Sonuçların değerlenderilmesi ve çalışmanın zayıf yönleri de tartışılmıştır. ; Master of Business Administration in Business Administration. Thesis (M.B.A.)--Eastern Mediterranean University, Faculty of Business and Economics, Dept. of Business Administration, 2019. Supervisor: Prof. Dr. Turhan Kaymak.

Motivation: Institutions are the core element of every economic system. Institutions condition all economic, social and political relations within the economy. They are universal. There is no doubt that a non-institutional analysis of contemporary economies is incomplete. The subject of this article are subsystems of formal institutions of OECD countries. This paper is an attempt to supplement contemporary economics with a structural model of formal institutional environments.Aim: The purpose of the article is to assess the quality of formal institutions of OECD economies and to identify the most important groups of institutions that shape the formal institutional environment of modern economies. A research hypothesis was adopted, stating that the quality of property rights has the strongest positive impact on the quality of formal institutional subsystems.Results: The analysis of the literature allowed the indication of the importance of (especially formal) institutions in the economy. The constructed soft model allowed for positive hypothesis verification. As it turns out, the quality of formal institutions is positively influenced by all three separate groups of formal institutions, but institutions of property rights are of the greatest importance.

Motivation: Institutions are the core element of every economic system. Institutions condition all economic, social and political relations within the economy. They are universal. There is no doubt that a non-institutional analysis of contemporary economies is incomplete. The subject of this article are subsystems of formal institutions of OECD countries. This paper is an attempt to supplement contemporary economics with a structural model of formal institutional environments.Aim: The purpose of the article is to assess the quality of formal institutions of OECD economies and to identify the most important groups of institutions that shape the formal institutional environment of modern economies. A research hypothesis was adopted, stating that the quality of property rights has the strongest positive impact on the quality of formal institutional subsystems.Results: The analysis of the literature allowed the indication of the importance of (especially formal) institutions in the economy. The constructed soft model allowed for positive hypothesis verification. As it turns out, the quality of formal institutions is positively influenced by all three separate groups of formal institutions, but institutions of property rights are of the greatest importance.

Purpose
Country institutions have become of heightened importance for firms' international strategies in recent years. Herein, I review the reasons for the growing importance of institutional environments and examine how they influence the international strategies of multinational enterprises (MNEs). There have been significant changes in the global, economic and competitive landscapes in recent years. These changes are examined.


Design/methodology/approach
Three critical and interrelated changes in the global competitive landscape are identified. They include (1) more interconnected (interdependent) national economies, (2) a significantly larger number of multinational firms and (3) growing importance of emerging economies (and their MNEs). These changes have increased the importance of countries institutional environments. Country institutions, both formal institutions (codified and explicit rules and standards that shape behavior) and informal institutions (Shared norms that guide cohesive behaviors) are examined. I explain the influences of institutional complexity, institutional distance and geographic regions on firms' international strategies.


Findings
Research has shown that both culture (informal institution) and formal institutions are interrelated and affect firms' strategies. And, while specific institutions such as intellectual property protection (law and enforcement) are important, the collective influence of institutions has a critical influence on firms' international strategies. And, institutions are multilevel (national, regional and local-municipal). The institutional complexity (combined effects of multiple institutions and their diversity) is carefully considered in executives' strategic decisions. When firms consider entering a new foreign market, they also consider the institutional distance between the home and host countries. The differences in culture and in formal institutions compose the institutional distance and affect whether and how firms enter these markets. Greater institutional distance contributes to the liabilities of foreignness the challenges of which must be managed effectively to succeed in the new market. And the effects of institutional distance are asymmetric depending on whether the firm's home country institutions are stronger/more developed or weaker/less developed than the host country institutions. Finally, many firms follow regional international strategies in which they invest in selected regions of the world. Recent research suggests firms enter regions that have attractive institutional profiles and engage in institutional arbitrage across the countries in those regions.


Research limitations/implications
This essay provides the base for additional research by identifying a number of important research questions on institutions and international strategy.


Originality/value
This essay highlights the importance of institutions for firms' strategies. Understanding institutions and their influence contributes to more effective executives' strategic decisions and more effective national and international policies.

[From text] What is Institutional Economics? Before delving into the concept of institutional economics, it will be useful to explain what is meant by institutions because institutions in economics have a particular meaning. The most commonly agreed upon definition for institutions is a set of formal and informal rules of conduct that facilitate coordination or govern relationships between individuals or groups. The formal rules include laws, contracts, political systems, organisations, and markets, while the informal rules of conduct consist of norms, traditions, customs, value systems, religions and sociological trends. Institutions provide for more certainty in human interaction (North, 1990) and have an influence on outcomes such as economic performance, efficiency, economic growth and development. They can either benefit or hinder these economic measures. Williamson (2000) noted that new institutional economics operates at both the macro and micro levels. The macro level deals with the institutional environment, or the rules of the game, which affect the behaviour and performance of economic actors and in which organisational forms and transactions are embedded. Williamson (1993) described it as the set of fundamental political, social and legal ground rules that establish the basis for production, exchange and distribution. The micro level analysis known as the institutional arrangement, on the other hand, deals with the institutions of governance. These refer to the modes of managing transaction costs and include issues of social capital, property rights and collective action. Here the focus is on the individual transaction and the questions regarding organisational forms (private property versus common pool resources) are analysed. An institutional arrangement is an arrangement between economic units that govern the ways in which its members can co-operate or compete.

AbstractIn this paper, we emphasize the role of institutions as the underlying basis for economic and social activity. We describe and compare different institutional classification systems, which is rarely done in the literature, and show how to empirically operationalize institutional concepts. More than 30 established institutional indicators can be clustered into three homogeneous groups of formal institutions: legal, political and economic, which capture to a large extent the complete formal institutional environment of a country. We compute the latent quality of legal, political and economic institutions for every country in the world and for every year. On this basis, we propose a legal, political and economic World Institutional Quality Ranking, through which we can follow whether a country is improving or worsening its relative institutional environment. The calculated latent institutional quality measures can be especially useful in further panel data applications and add to the usual practice of using simply one or another index of institutional quality to capture the institutional environment. We make the Institutional Quality Dataset, covering up to 197 countries and territories from 1990 to 2010, freely available online.

The first part of the paper will examine three sources of resistance to recognising the role of formal institutions in the creation or strengthening of social capital: (1) the implicit assumption that bridging ties must be "weak ties"; (2) the focus on "path dependencies" rather than "path alternatives"; and (3) the implicit assumption that informal institutions are causally prior to formal institutions. The second part of the paper will propose an alternative approach to social capital creation that draws upon the economist's notion of competition in the marketplace and how formal institutional arrangements affect the relative position of different parties in that environment (Miller 1992, pp.17-18, 27-35; North 1991). The third part of the paper will discuss a successful effort to create a formal institutional solution to developing social capital in groups that historically have had difficulties in this area, especially with respect to building bridging social capital. Adapted from the source document.