Journal of Entrepreneurship, Business and Economics

17-41

Authors: Charis Vlados, Dimos Chatzinikolaou

This paper explores how innovation is perceived, on the one hand, by the scientific literature and, on the other, by the everyday practice of small and micro enterprises operating in the less developed socioeconomic system of the Greek region of Eastern Macedonia and Thrace. Our aim is to find out whether there are different perceptions of innovation from two different “worlds”, the theoretical and the practical. For this, we conducted an introductory and qualitative field research on a sample of small and micro enterprises in the region of Eastern Macedonia and Thrace. We found there is a notable distance in the perception of innovation between the scientific theory and the everyday practice of micro and small enterprises in this less developed region in Greece.

64-91

Authors: Balbir Bhasin, Lee Keng Ng

Though cultural explanations as determinants of economic outcomes have mainly been ignored by researchers, national culture has been proven to have a direct and identifiable impact on the level of entrepreneurial behavior. Politically, Laos remains one the few communist countries in the world, but it too is transitioning to a market economy. In spite of being rich in natural resources, this small, landlocked nation remains a less developed country (LDC) and the poorest member of the Association of South East Asian Nations (ASEAN). The Lao culture embraces collectivism and the traditional values of Theravada Buddhism, a belief system which inherently functions against the fostering of entrepreneurial spirit. Removing impediments to entrepreneurship is a key challenge for the government. Using Laos as a case in point, this paper assesses the influence culture has on entrepreneurship and explores initiatives and measures that can be used to strengthen inherent cultural values that stimulate the entrepreneurial spirit, encourage risk-taking, and in turn promote economic development.

106-132

Authors: Ali Kahramanoğlu, Ahmet Mesut Büyüksarıkulak

In line with economic prosperity and its spread to the society, it is essential that the economy complement each other with law and democracy. In this study, the development levels of countries and the relationship between law and/or democracy will be examined. After the Eviews analysis, it was observed that the democracy and geography indexes were not enough alone, and a more comprehensive model was formed by adding some geographic, religious, cultural and dummy variables reflecting the history of countries. At the end of modelling, it is seen that geographic features and natural resources are extremely important for prosperity. Moreover, the fact that countries have historical/corporate identity does not yield any meaningful results in terms of human development

153-173

Authors: Dinh Tran Ngoc Huy

Insurance industry in Viet Nam has been growing much, achieving more market share and contributing quite a lot for the economic growth in recent years. This paper measures the volatility of market risk in Viet Nam insurance industry after this period (2015-2017). The main reason is the necessary role of the insurance company system in Vietnam in the economic development and growth in recent years always go with risk potential and risk control policies. This research paper aims to figure out how much increase or decrease in the market risk of Vietnam insurance firms during the post-low inflation environment 2015-2017. First, by using quantitative combined with comparative data analysis method, we find out the risk level measured by equity beta mean in the insurance industry is acceptable, as it is little lower than (<) 1. Then, one of its major findings is the comparison between risk level of insurance industry during the financial crisis 2007-2009 compared to those in the post-low inflation time 2015-2017. In fact, the research findings show us market risk level during the post-low inflation time has increased much. Last but not least, comparing the market risk level in three (3) financial industries: insurance, stock and banking groups, we figure out that the risk level, measured by equity beta mean, in the insurance industry is still lower than that of banking industry, whereas the risk dispersion, measured by equity beta var, int he insurance industry is the highest among three groups. Finally, this paper provides some ideas that could provide companies and government more evidence in establishing their policies in governance. This is the complex task but the research results shows us warning that the market risk might be higher during the post-low inflation period 2015-2017. And our conclusion part will recommends some policies and plans to deal with it.

12-28

Authors: Zeinab Mondalizadeh

The purpose of this study was to determine the challenges of entrepreneurship in sport colleges in Iran and presenting reformation policies. The study was a descriptive survey and used the research-designed questionnaire. The statistical sample was selected 64 subjects simple randomly across statistical populations (79) including professors and Ph.D. students of sport management in Tehran's universities. Data were analyzed by the Friedman test (χ2= 46.97, ρ≤.001). The result showed that the most important entrepreneurship challenges in sport colleges were status of sports entrepreneurial consulting services, present the programs of entrepreneurship training, the status of research and development unit, and innovation system in physical education colleges, the status of profitable from the research results and disproportion between educational contents and job skills. A survey of conflicts and challenges entrepreneurship in sport colleges emphasizes on long-term planning and attention for employing and using the safe planning by competence managers to provide background for entrepreneurship, innovation, and science production.

45–70

Authors: Henndy Ginting, Farhanah Fitria Mustari, Annisa Fitria

Many entrepreneur students run their businesses which are not congruent with their personality and it will affect the effectiveness of business performance. According to Holland (1985), congruency between personality and occupation can create personal satisfaction, increase productivity and successful career. The research aims to assess the effectiveness of “PLANS (Personality fit Business)” Training to increase congruency between the chosen business category and personality using Holland theory among entrepreneurship student candidates batch 2018 (N = 85). All of them got the "PLANS" Training which was divided into four sessions: (i) Self Exploration, (ii) Business Insights, (iii) Business Fields Exploration, and (iv) Exploration of Business Potential and Planning. The research was conducted quasi-experimental using pre-test and post-test without a control group. The measurements were based on personality SDS (Self Directed Search) Holland test and newly designed business category questionnaire based on the Standard Classification of Business Field in Indonesia 2015. Data were analyzed using Paired t-test with significance level α = 0.05. The result showed a significant difference of congruency between personality and chose business category before and after the training (t = 4.544, p = 0.00 (< 0.05)), (SD) pre-test = 34.71(29.857) and (SD) post-test = 51.71 (32.383). It means “PLANS” Training is effective in increasing congruency between personality and chosen business category among entrepreneurship college student candidates. Therefore, this research suggests the training to be integrated into entrepreneurship and other business school's curriculum like the School of Business and Management ITB as a guideline before starting their study.

91-100

Authors: Adi Wibowo, Rorim Panday, Siti Mardiyah, Arif Prasetyo

This research analyzes the information and influence factors of socialization, size of the business, as well as the perceptions of entrepreneurs of Small Medium Enterprises to understanding in preparing of the financial statements accordance Accounting Standards for Entities without Public Accountability. The object of research are the Wedding Organizer entrepreneurs in Bekasi City. This research using quantitative research methods with sample as 75 units of Small Medium Enterprises . Multiple regression will be used to analyze. T test results showed partially on information and dissemination as well as influence business size significantly, while perceptions of owners do not influence on the understanding of Small Medium Enterprises about Accounting Standards for Entities without Public Accountability (ASEPA). As simultaneously all independent variables effect on the dependent variable.This research suggests that by improving their understanding in preparing of financial report can provide opportunities for Small Medium Enterprises entrepreneurs to apply for loans to third parties in developing their businesses.

115-131

Authors: Restu Millaningtyas, Aleria Irma Hatneny

Creative economy is an economic sector that has given contribution in creating jobs, increasing exports, creating innovation and creativity, and providing a positive social impact in improving quality of life and tolerance. This research take place in "Rizki Abadi" Small and Medium Enterprise (SME) in Sekardangan, Papungan Village, Kanigoro District, Blitar Regency. This SME produces coconut-based snacks called opak gambir. Several obstacles faced by this SME includes lack of innovation in product packaging, unstable raw material prices, inadequate human resources, and conventional marketing methods. The purpose of this research is to depict the model of Opak Gambir-based creative economy development through product innovation, problem identification, and solution making. This research uses primary and secondary data source which consist of direct field observations, interviews, journals, and other articles related. The result of this research found that simple packaging methods, inconsistent labeling and conventional marketing methods lead to inaccurate service and less extensive marketing reach. Unstable raw material price affects sales stability, while the quality of raw materials does not affect sales stability. The environment has no impact to the sales stability due to competition among SME's. Simple production equipment does not significantly affect the stability of sales, while the quantity of sealer affects production's punctuality. Skills and the amount of labor do not have an impact on sales stability. Meanwhile, business mentoring has an ability to help increase in sales due to its support in using online media for promotion and adding the quantity of sealer. In addition, it helps SME attain raw materials from Koperasi.

36-58

Authors: Adeleke Omolade, Obi Maureen Mukolu

The study investigated the effects of monetary policy dynamics on the economic growth of the SSA using data from thirty seven Sub Saharan African Countries. Dynamic panel data technique is used to estimate the model which described the relationship between SSA economic growth and monetary policy variables. However, macroeconomic variables such as exchange rate, inflation rate among others are included in the estimated dynamic panel model. The results show that the monetary policy rates failed to lead to sustainable growth in the SSA because of the limited effects it has in boosting domestic output. This reason is evident in the fact that the expected effect of expansionary monetary policy is limited due to weak financial deepening that is rampant in many Sub Saharan African Countries. Monetary policy approach that will not only be expansionary but exert required financial deepening that will have significant effect on the real domestic activities in the SSA should be encouraged.

78–91

Authors: Andrian Haro

The purpose of this research was to analyze partially the influence of attitude, subjective norm, perceived behavioral control, and knowledge towards customer purchase intention. Data were collected through a questionnaire of 200 respondents from Indonesian female Muslim customer. The research used a descriptive and explanatory methods which analyzed by using multiple regression analysis through SPSS software. The results showed there are partially positive and significant influence between attitude, subjective norm, and knowledge towards halal cosmetics purchase intention. Meanwhile, perceived behavioral control has no significant influence on customer purchase intention. These results will be a good recommendation for cosmetics manufacturers in producing and promoting their halal cosmetics product by considering the influence of consumers' attitude, subjective norm and knowledge. This research is expected to be useful for the development of halal cosmetics industry in the future.

116-143

Authors: Sabaruddin Yuswar Z. Basri, Susi Dwimulyani

The purpose of this study is to obtain empirical evidence whether perceptions of corruption, fiscal services and tax sanctions affect taxpayer compliance with the practice of self assessment system as intervening variable. The research design used is quantitative with primary data. Respondents in this study are financial managers, accounting managers and tax managers of companies registered in the MM2100 Industry area amounting to 219 people. Data analysis was performed using Sequential Equation Modeling (SEM) software - Lisrel 8.70 with a tolerable error rate of 5%. The results show that the direct influence of perceptions on corruption and fiscal services on taxpayer compliance can not be proven, but the perception of tax sanctions on compliance can be proven. The direct influence of perceptions on corruption, fiscal services and tax sanctions on the practice of self assessment system can be proven. The indirect influence of perceptions on corruption, fiscal services and tax sanctions on taxpayer compliance through intervening variables i.e. self assessment system practice can be proven.

166-204

Authors: Kalpana Ambepitiya

The need to invest in alternative energy solutions to supplement the increasing demand for power by the growing national economy of Sri Lanka has become a significant issue at present. One of the approaches adopted by the country to address this issue is to promote the use of solar power in the household sector in order to reduce its dependence on the national power grid and to increase the energy efficiency in their daily activities. As the participation of the private sector is involved in this undertaking, the problem of identifying the most appropriate marketing methods that can be used to promote solar power in the household sector arises. This research by focusing on the problem has contributed to the green power marketing literature by identifying and applying four selected marketing strategies that can be used to market solar power in Sri Lanka. A descriptive research methodology has been used in this study by conducting a survey that was administered to a selected sample from a population that included 110 households and 25 marketing experts. The Study that was carried out over a period of eight months used a questionnaire and the online interview as survey instruments. It proposes a green power marketing framework for a solar power industry in Sri Lanka. The findings of this study present a convincing case that Cause-related, Community-based and personal selling strategies may work to promote solar power in Sri Lanka. Traditional methods like promotional marketing have little influence on customers. Potential customers also suggested that the marketing approach needs to be more environment-friendly and community based. In future researches it is advisable to study in different contexts such as emerging, developing and developed economies and making comparisons.

19-46

Authors: Ademola Samuel Sajuyigbe, Isaac Olugbenga Fadeyibi

The emerging field of entrepreneurship in 20th century has made women entrepreneurs to be creative and innovative. However, in Africa especially Nigeria, women have historically been disadvantaged in accessing not only material resources, but also have been deprived of resources like finance, market information and modern technology. This study examined the influence of women entrepreneurs on sustainable economic development in Nigeria. Other specific objectives were to assess the perceived contributions of women entrepreneurs to economic sustainability in Nigeria; ascertain the ways in which women entrepreneurs have been empowered; determine the factors motivating women into entrepreneurship and to identify the major challenges facing women towards entrepreneurship development in Nigeria. This research work was carried out among the three thousand one hundred and fifty (3,150) women entrepreneurs registered with ministry of commerce and industry in the South-Western geo-political zones of Nigeria. A total of six hundred and eighty (680) participants were selected as sample size for the study. The data collection instruments for the study were structured questionnaire and personal interview. Data analysis was performed with the aid of simple percentage, mean, chi-square and linear Regression. Results revealed that involvement of women in entrepreneurship (β = 0.310, t = 17.175, P<.001) have positive and significant influence on sustainable economic development. Results also indicated that majority of women have been empowered by voting in elections, have access to education, and they have benefited from empowerment training. Furthermore, result indicated that involvement of women in entrepreneurial activities accounted for 30.3% of the variation which was explained by the model while extraneous variables accounted for about 69.7%. Results so revealed that lack of access to finance, work/home conflict and lack of moral support from family members are major challenges facing women entrepreneurs in Nigeria. Study concluded that involvement of women in entrepreneurship is a catalyst to the sustainable economic development. The study recommended the establishment of Women Entrepreneurship Development Centre (WEDC) by the federal/state government in collaboration with private sector to provide financial assistance, business advice, mentorship and other practicable support in order to empower the Nigerian women towards realization of the self-employment aspirations.

64-86

Authors: Nidhi Kaushal, Sanjit Mishra

Narrative writings in literature are ample source of knowledge and are most easily understandable. In every old tradition, we find that people learn ethics and morality through oral forms of literature including short stories, ballads, and various other types of the genre. These narratives used to have tremendous influence on the listeners and readers seeking lessons in leadership. India, just like any other traditional country, has been rich in such genres whose practitioners effectively transmitted the required knowledge or the motivation to the learners in particular and the masses in general. The objective of this paper is to analyse and discus the art and craft of such stories which were useful in communicating the ideals of leadership. We assume that while leadership lessons can be learned from the study of literary writings, they can also be a valuable resource material for innovative learning the management skills. The role of the leader can be familiarly communicated in the form of the tales. Describing a positive psychological narrative from the text is the best way to manifesting an idea in to the minds of people.

110-126

Authors: Philip Ifeakachukwu Nwosa

This study examined relationship between external reserves and economic growth in Nigeria from 1981 to 2014. The study used the Ordinary least squares econometric method of analysis. The result of the study showed that external reserves had positive and significant influence on the economic growth in Nigeria. Based on the major finding of this study, it was concluded that external reserve in Nigeria has over the period of study contributed positively and significantly to the growth of the economy. Thus, the study recommended the need for prudent management of Nigerian’s external reserves to ensure more growth and also that government should put in more policies that will enhance increased accumulation of external reserves.

147-171

Authors: Dematria Pringgabayu, Dany Muhammad Athory Ramdlany

The research was conducted to determine whether the leaderhsip and organizational culture have positive and significant impact on knowledge management at State Owned-Port Company. This study has three variables, namely the leaderhsip and organizational culture as an independent variable and knowledge management as the dependent variable. Data obtained from interviews and questionnaires were distributed to the employee population at State Owned-Port Company This research method uses descriptive method and verification method. Data processing is performed using path analysis. The result of this study indicate that leadership has a significant influence 12,8% on knowledge management and organizational culture has a significant influence 26,7% on knowledge management at State Owned-Port Company. Simultaneously, leadership and organizational culture have total influence 0,958 on knowledge management at State Owned-Port Company.

41-66

Authors: Aries Heru Prasetyo

This study aimed in contextualizing competitive advantage for social entrepreneurship from different perspective. Having defined social entrepreneurship as ways to have better solution in dealing with social issue, enterprise is believed to be founded upon some social mission. In that case, the role of commitment, loyalty and perseverance become an important concept to understand the characteristic of organization. One important signal found in the study was due to a rapid growth of development for the fields of knowledge. The study identified the important role of leadership and knowledge management to social enterprise. The three major contributions from the study are: (i) addressing the basic framework in analyzing social entrepreneurship, (ii) codifying possible network mapping faced by complex-social enterprise and (iii) proposing model for future competitive advantage by considering unique characteristics of social organization. The study enclosed with proposing three propositions which covered the relationship between social enterprise and the society and also some possibility to have different analysis between developed and developing country.

108-139

Authors: Yashar Salamzadeh; Maryam Rezai

Employing appropriate and up to date Business models in Organizations is so important due to the fact that it is the strategy which shows the main logic of a corporation in creating values in organizations. It is important to the extent that not employing an appropriate and up to date business model will prevent the organizations fulfilling their aims, even if they employ high technology or diverse resources. In fact, economical value of a technology is unknown until corporations employ an appropriate form of business model. It can be said that, those corporations employing more appropriate business models for a technology achieve more value than the corporations discovering that technology. A good business model is the basis of each successful organization, no difference the investment is new or it's an already established one. Due to the importance of this issue, in this study, we try to identify the main reasons for not being up to date or not developing business models in organizations. We do this by reflecting upon the results of credible and up to date researches in the area of different business models and obstacles or challenges facing different organizations. In line with what was said above, we employed library research, extracting updating obstacles in business models, questionnaire and field research for data collection process. Determining reliability and validity of the questionnaire, we distributed it among 198 corporations of management counseling in Tehran province. This research follows positivism paradigm and is practical, quantitative, and inductive. The results lead to the discovery of 35 cases of the main reasons of not being up to date and developed in using business models. As there was no basis for categorizing variables and formerly defined categories, in order to maximize the correlation between variables and factors, calculating the factorial ratio and determining the intended factors, we employed factorial design. Using this statistical technique, the variables were categorized in 4 kinds of obstacles: strategic, information, management, and system. At the end these are ranked using fuzzy Topsis technique. The results of ranking show the importance order of obstacles as follows: Informational factors, Systematic factors, managerial factors & strategic factors.

157-184

Authors: Áurea Sousa; Gualter Couto; Nélia Branco; Osvaldo Silva; Helena Bacelar-Nicolau

The importance of entrepreneurship promotion has increased significantly in today's society, especially during periods of crises. This work is based on the responses obtained through a survey conducted on a sample of 305 undergraduates of the University of the Azores, enrolled in different science pro-grams. The aim is to deepen the knowledge of the entrepreneurial propensity of higher education students in the Azores, and in that way the university can stimulate their interest in creating business-es. The main results obtained, using exploratory data analysis (from the univariate to the multivariate), are presented and discussed.

216-236

Authors: Siavash Mahmoudi, Saeid Mahmoudi, Ali Mahmoudi

Over the last few years, increase in the number of financial crisis cases has attracted the attention of a great number of investors and creditors to the prediction of these cases by using the data available from financial statements of the corporations in order to prevent losses which are caused by them. Many of the studies about the earning management only focus on identifying the factors which affect the earnings management and relation between earnings management and these factors and not on using these factors in order to predict the earnings management. On the other hand, in the present study, 12 influential factors, which are introduced by former studies, are used to evaluate the predicting ability of the neural networks for prediction of earnings management and its different levels. Multilayer perceptron neural network with 2 hidden layers is used for prediction. Moreover, the required data is obtained from the financial statements of the listed companies of Tehran Stock Exchange (TSE). The results show that the applied neural network method has an acceptable ability for the prediction of earnings management and its different levels in all different studies industries.