"Publish or perish!" : la fabrique du chercheur-entrepreneur

La course effrénée à la publication, « publish or perish », participe au renforcement d'une (nouvelle) norme scientifique : la compétitivité. Celle-ci s'est institutionnalisée lors de réformes néolibérales, tant au niveau des systèmes nationaux de recherche et d'enseignement que des instances européennes et internationales. En partant de ce contexte politique, nous avons problématisé la «fabrique» d'un sujet néolibéral, celle du chercheur-entrepreneur, sous l'angle des techniques de gouvernement à distance (benchmarking, systèmes de classement, grilles d'évaluation, etc.) compris comme des «techniques de soi» pouvant amener les enseignants-chercheurs à s'identifier et à agir comme des chercheurs-entrepreneurs. De cette perspective foucaldienne de la «fabrique» du chercheur-entrepreneur, nous distinguons, in fine, une double posture herméneutique possible: un «souci de soi» a-critique, d'ordre gestionnaire, confiant dans les règles méritocratiques et un «souci de soi» critique, d'ordre intellectuel, inquiet de voir s'installer la compétitivité comme norme dominante du champ scientifique.

The European Board of Physical and Rehabilitation Medicine : the past, the present and the future [Europejska Rada Medycyny Fizykalnej i Rehabilitacji: przeszłość, teraźniejszość i perspektywy]

Right from the beginning of the development of the medical specialty of Physical and Rehabilitation Medicine (PRM) the harmonization of the fields of competence and the specialist training across Europe was always an important issue. The initially informal European collaboration was formalized in 1963 under the umbrella of the European Federation of PRM. The European Academy of PRM and the UEMS section of PRM started to contribute in 1969 and 1974 respectively. In 1991 the European Board of Physical and Rehabilitation Medicine (EBPRM) was founded with the specific task of harmonizing education and training in PRM in Europe. The EBPRM has progressively defined curricula for the teaching of medical students and for the postgraduate education and training of PRM specialists. It also created a harmonized European certification system for medical PRM specialists, PRM trainers and PRM training sites. European teaching initiatives for PRM trainees (European PRM Schools) were promoted and learning material for PRM trainees and PRM specialists (e-learning, books and e-books, etc.) was created. For the future the Board will have to ensure that a minimal specific undergraduate curriculum on PRM based on a detailed European catalogue of learning objectives will be taught in all medical schools in Europe as a basis for the general medical practice. To stimulate the harmonization of national curricula, the existing postgraduate curriculum will be expanded by a syllabus of competencies related to PRM and a catalogue of learning objectives to be reached by all European PRM trainees. The integration of the certifying examination of the PRM Board into the national assessment procedures for PRM specialists will also have to be promoted.

Entrepreneur's Overconfidence, Private Benefits and the Market Performance of the Firm

Many firms around the world are managed and partially owned by entrepreneurs. These entrepreneurs hold under diversified portfolios and, therefore, bear idiosyncratic risk in addition to systematic risk. To compensate the additional risk borne, they extract private benefits. In this paper, we analyse how an entrepreneur's overconfidence affects the market performance of the firm, through the channel of private benefits. We show that two dimensions of overconfidence, namely overestimation of future cash-flows and underestimation of idiosyncratic risk (called miscalibration), have opposite effects on the private benefits extracted by the entrepreneur. As a consequence, firms managed and partially owned by overconfident entrepreneurs can deliver overperformance or underperformance, depending on the prevalence of overestimation or miscalibration of the beliefs of the entrepreneur.

Business Exits entail greater future levels of entrepreneurship? An empirical analysis at country level

Using Global Entrepreneurship Monitor data for 41 countries this study investigates the impact of business exit on entrepreneurial activity at the country level. The paper distinguishes between two types of entrepreneurial activity according with the motive to start a new business: entrepreneurs driven by opportunity and necessity motives. The findings indicate that exits have a positive impact on future levels of entrepreneurial activity in a country. For each exit in a given year, a larger proportion of entrepreneurial activity the following year. Moreover, this e ffect turns out to be higher for opportunity entrepreneurs. The findings indicate that both types of entrepreneurial activity rates are influenced by the same factors and in the same direction. However, for some factors we find a di fferential impact on the entrepreneurship. The results show some important implications given that business exit may be overcome when there is a necessity motivation. This has important implications for both researchers and policy makers. JEL codes: L26. Keywords: Entrepreneurship, business exit, social values

Iniciativa emprenedora i immigració: característiques diferenciadores i factors d'èxit

 L’emprenedoria és una de les àrees de recerca que han tingut un major creixement en les dècades recents. En aquest camp, l’anàlisi del comportament dels emprenedors immigrants ha estat reconeguda com un dels temes amb un important increment d’estudis relacionats. En aquests moments, el fenomen de la immigració és un dels processos socials més importants i amb una major repercussió en el continent europeu, i el fet que hi hagi més iniciatives emprenedores liderades per immigrants que per nadius fa que l’anàlisi i l’exploració d’aquest tema tinguin un atractiu especial. Malgrat tot, i encara que en els darrers anys el nombre d’estudis que pretenen donar una explicació a aquest fenomen ha incrementat, la majoria dels estudis l’han analitzat des d’un punt de vista qualitatiu i centrant-se en situacions regionals específiques i grups concrets, sense que se n’hagin pogut extreure conclusions generals sobre el comportament emprenedor immigrant. De manera que uns dels aspectes clau que un estudi en profunditat requereix són ressaltar aquells factors que contribueixen a distingir el comportament emprenedor immigrant del nadiu, així com aquells factors que podrien motivar l’èxit o el fracàs d’aquest tipus d’iniciatives i com aquests factors condicionarien la resta del teixit empresarial. En aquest context, el principal objectiu d’aquest projecte consisteix en l’anàlisi de les característiques distintives del procés emprenedor dels immigrants. Es pretén abordar aquest objectiu desenvolupant diferents metodologies i combinant diferents fonts d’informació que permetin captar la situació i assolir una comprensió més rica del fenomen estudiat. Els principals resultats obtinguts ens han portat a entendre aspectes que afavoreixen l’emprenedoria immigrant, tals com una menor aversió al risc i un major control percebut. A més, s’han posat de manifest algunes barreres legals amb les que s’han d’enfrontar els emprenedors immigrants a Catalunya.

Studying the micro-angels approach to micro-investment decisions

Purpose: The paper analyzes the micro-angels investment behaviour, looking both to the criteria used in the selection of their investment projects and to the characteristics of their guidance role during the investment period. Design/Methodology/Approach: The paper focuses on a double bottom line movement of French micro-angels clubs that has been operating since 1983. Our primary source of data is an online survey carried out during March 2012, asking members of clubs all over France for different aspects of their procedures. Findings: Our findings suggest that micro-angels are interested in small, socially or environmentally friendly projects having the potential to contribute to the development of their neighbourhood. We find that women are even more interested than men in such projects. Educated micro-angels value entrepreneurial motivation and understanding of the project more than less-educated micro-angels. We also point out the factors that micro-angels consider important in accompanying enterprises. Here we find that gender makes little difference. However, retired micro-angels value financial diagnosis made conjointly with entrepreneurs, while both active micro-angels and educated micro-angels value more the use of their network to help micro-entrepreneurs. Practical/Social Implications: Given the potential benefits of micro-angels investing and guiding the development of micro-enterprises, a social micro-angel investment on a major scale in developing countries could help in tackling some of the problems faced by the development of microfinance, such as the over-indebtedness of micro-entrepreneurs. Practitioners and new initiatives would gain from understanding what adaptations need to be made. Originality/value: We expect to add to the venture capital theory to take into account non-economic motives.

Kinship in entrepreneur networks: Performance effects of resource assembly in Africa

We examine the relationship between structural social capital, resource assembly, and firm performance of entrepreneurs in Africa. We posit that social capital primarily composed of kinship or family ties helps the entrepreneur to raise resources, but it does so at a cost. Using data drawn from small firms in Kampala, Uganda, we explore how shared identity among the entrepreneur's social network moderates this relationship. A large network contributed a higher quantity of resources raised, but at a higher cost when shared identity was high. We discuss the implications of these findings for the role of family ties and social capital in resource assembly, with an emphasis on developing economies.

Empirical Tests of Impacts of Rationing: The Case of Poland in Transition, February 2000

This study tests the theory of rationing, examining changes in household consumption behavior during the transition to a market economy in Poland, 1987–92. A model of consumption under rationing is developed and fitted to prereform quarterly data from the Polish Household Budget Survey. Virtual prices, prices at which consumers would have voluntarily chosen the rationed levels of goods, are derived for food and housing. The prereform Almost Ideal Demand System (AIDS) model with rationing is estimated. Estimates from the virtual AIDS yield plausible values for price and income elasticities. The AIDS model (without rationing) is also fitted to postreform quarterly household survey data for comparison and evaluation. When the two sets of results are compared, the impacts of rationing are consistent with the theory. Own-price elasticities for nonrationed goods are larger after the reform, and there is increased complementarity and decreased substitutability for the nonrationed goods. The results for Poland show a 75 percent decline in real household welfare over the transition and this welfare loss is one-third the value obtained using reported prices.

Endogenous Credit Cycles and Financial Dampening in an Adverse Selection Economy

We propose an adverse selection framework in which the financial sector has a dual role. It amplifies or dampens exogenous shocks and also generates endogenous fluctuations. We fully characterize constrained optimal contracts in a setting in which entrepreneurs need to borrow and are privately informed about the quality of their projects. Our characterization is novel in analyzing pooling and separating allocations in a context of multi-dimensional screening: specifically, the amounts of investment undertaken and of entrepreneurial net worth are used to screen projects. We then embed these results in a dynamic competitive economy. First, we show how endogenous regime switches in financial contracts may generate fluctuations in an economy that exhibits no dynamics under full information. Unlike previous models of endogenous cycles, our result does not rely on entrepreneurial net worth being counter-cyclical or inconsequential for determining investment. Secondly, the model shows the different implications of adverse selection as opposed to pure moral hazard. In particular, and contrary to standard results in the macroeconomic literature, the financial system may dampen exogenous shocks in the presence of adverse selection.

Adverse Selection, Credit, and Efficiency: the Case of the Missing Market

We analyze a standard environment of adverse selection in credit markets. In our envi- ronment, entrepreneurs who are privately informed about the quality of their projects need to borrow from banks. As is generally the case in economies with adverse selection, the competitive equilibrium of our economy is shown to be ine¢ cient. Under adverse selection, the choices made by one type of agents limit what can be o¤ered to other types in an incentive-compatible manner. This gives rise to an externality, which cannot be internalized in a competitive equilibrium. We show that, in this type of environment, the ine¢ ciency associated to adverse selection is the consequence of one implicit assumption: entrepreneurs can only borrow from banks. If an additional market is added (say, a .security market.), in which entrepreneurs can obtain funds beyond those o¤ered by banks, we show that the e¢ cient allocation is an equilibrium of the economy. In such an equilibrium, all entrepreneurs borrow at a pooling rate in the security market. When they apply to bank loans, though, only entrepreneurs with good projects pledge these additional funds as collateral. This equilibrium thus simultaneously entails cross- subsidization and separation between di¤erent types of entrepreneurs.

Adverse selection, credit, and efficiency: the case of the missing market

We analyze a standard environment of adverse selection in credit markets. In our environment, entrepreneurs who are privately informed about the quality of their projects need to borrow in order to invest. Conventional wisdom says that, in this class of economies, the competitive equilibrium is typically inefficient. We show that this conventional wisdom rests on one implicit assumption: entrepreneurs can only access monitored lending. If a new set of markets is added to provide entrepreneurs with additional funds, efficiency can be attained in equilibrium. An important characteristic of these additional markets is that lending in them must be unmonitored, in the sense that it does not condition total borrowing or investment by entrepreneurs. This makes it possible to attain efficiency by pooling all entrepreneurs in the new markets while separating them in the markets for monitored loans.

Excess Entry, Ambiguity Seeking, and Competence: An Experimental Investigation

Excess entry refers to the high failure rate of new entrepreneurial ventures. Economic explanations suggest 'hit and run' entrants and risk-seeking behavior. A psychological explanation is that people (entrepreneurs) are overconfident in their abilities (Camerer & Lovallo, 1999). Characterizing entry decisions as ambiguous gambles, we alternatively suggest following Heath and Tversky (1991) that people seek ambiguity when the source of uncertainty is related to their competence. Overconfidence, as such, plays no role. This hypothesis is confirmed in an experimental study that also documents the phenomenon of reference group neglect. Finally, we emphasize the utility that people gain from engaging in activities that contribute to a sense of competence. This is an important force in economic activity that deserves more explicit attention.

O empreendedorismo. O perfil do empreendedor da Ilha de Santiago Cabo Verde

Este trabalho apresenta um estudo qualitativo, desenvolvido através de pesquisa exploratória, bibliográfica e de campo, feito a trezentos e noventa e nove empreendedores e empresários da Ilha de Santiago, tendo em consideração o cenário económico actual e a preocupação à volta do sector privado. Procurou-se através de pesquisa junto às empresas activas, e cujo número de pessoas ao seu serviço não ultrapassa vinte, identificar três pontos fundamentais relacionados com os empreendedores: investigar os factores que levaram as pessoas a tornarem-se empreendedores; investigar as características principais do empreendedor de sucesso; identificar as características imprescindíveis para se atingir o sucesso empresarial relacionadas com o conhecimento, competências, atitude e talento, sequenciadas por ordem de importância. Para um melhor entendimento destas questões foi utilizado um referencial teórico que aborda o empreendedorismo. A pesquisa de campo foi realizada através de utilização de questionários – entrevistas às empresas estabelecidas nesta ilha, e o método de recolha de dados foi o de entrevista directa. Os resultados obtidos mostraram que os empreendedores enfatizam a importância dos factores comportamentais no sucesso das pequenas e médias empresas e evidenciaram que os factores mais significativos e limitativos do sucesso dos empreendedores no Município da Praia, ilha de Santiago, se referem ao ambiente interno do negócio. Considerando todos estes factores e de acordo com as pesquisas desenvolvidas e analisadas, este trabalho recolheu informações específicas dos empreendedores de sucesso da ilha de Santiago e que podem ser úteis para os que almejam o sucesso empresarial e para eventuais programas de capacitação e formação empreendedora na ilha. This work presents a qualitative study developed through exploratory, bibliographic and field research to three hundred and ninety nine managers and entrepreneurs from Santiago Island, taking into consideration the present economical scenario and main concerns linked to private sector. Through a research in active enterprises and whose staff number doesn’t exceed twenty, the goal was to identify three main issues related to entrepreneurs: look into the factors that encouraged people to become entrepreneurs; examine the main characteristics of a successful entrepreneur and identify, sequenced by order of importance, the most critical characteristics related to knowledge, skills, attitude and talent, that allow entrepreneurial success achievement. For a better understanding of these questions, a theoretical approach to entrepreneurship was exploited. Field research was carried on through the use of questionnaires in enterprises located in Praia, and the data collection method was direct interviews. Results obtained showed that entrepreneurs emphasize the importance of behavioral factors in the success of small and medium enterprises and they evidenced that the most significant and restrictive factors of entrepreneurs’ success in Santiago Island are related to internal business environment. Considering these factors, and according to research developed and analyzed, the work has collected specific information of successful entrepreneurs in Santiago that can be useful for those, in the island, who seek entrepreneurial success and for eventual capacity building and entrepreneurial training programs.

A importância do sector microcrédito e o perfil do microempresário: Ilha de Santo Antão Cabo Verde

As microempresas desempenham um papel fundamental na promoção do emprego, na inovação, na criação de rendimentos e no desenvolvimento económico e social. Para os países em vias de desenvolvimento, crê-se que a dinamização das microempresas pode ser um instrumento privilegiado de promoção e combate à pobreza, na medida em que esta poderá ser a via para incentivar as camadas mais pobres das populações rurais e urbanas a criarem os seus próprios negócios e a providenciarem os seus próprios rendimentos. A criação e o crescimento das microempresas estão, todavia, condicionados por vários constrangimentos. A inexistência de capital inicial (Start-Up Capital) é apontada na literatura financeira como uma das mais relevantes. O recurso ao capital externo, como fonte de financiamento, dependerá, por sua vez, de vários factores. O presente estudo foi realizado em Santo Antão, a ilha mais a norte e a mais montanhosa do Arquipélago de Cabo Verde. O sector micro crédito chama atenção pelo facto de ser um instrumento de importância primordial para Cabo Verde e, particularmente, para a ilha de Santo Antão que possui uma estrutura económica e social muito vulnerável o que nos leva a compreender melhor, o funcionamento das microempresas, instaladas nos três municípios da Ilha (Paul, Ribeira Grande e Porto Novo). Ao longo do estudo definimos o perfil sócio económico do micro empresário Santantonense, com o objectivo de compreender e quantificar o contributo do sector para o desenvolvimento empresarial da ilha, sem esquecer os constrangimentos e dificuldades que se colocam aos micros empresários na procura de financiamento. O processo de recolha de informação foi efectuado com recurso a pesquisas de campo, a partir da elaboração e aplicação de entrevistas de uma forma semi-estruturada, no sentido de identificar as principais características/perfil do empresário. Os dados recolhidos pelas entrevistas têm por base uma apreciação crítica da gestão para melhor compreender e comparar as fragilidades existentes e analisar a capacidade de sucesso dos micros empresários. A configuração da actividade económica foi feita com base na análise quantitativa e qualitativa, dos dados obtidos na aplicação dos questionários. De igual modo, analisamos e comparamos os casos de sucesso e insucesso nas microempresas em estudo, casos de sucesso no que diz respeito aos benefícios de micro créditos para a redução da pobreza e do desemprego, de criação do auto-emprego, e da formação/informação aos micros empresários santantonenses. Nos casos de insucesso analisamos as causas que estiveram na sua origem assim como as consequências daí advenientes. Uma das constatações do estudo, como se verá pela análise dos dados, é que o micro empresário Santantonense, possui um baixo nível de escolaridade e que na sua maioria são mulheres. Um outro resultado evidenciado pelo estudo, é que há uma necessidade da política pública de desenvolvimento no sentido de definição de incentivos à criação e à promoção de micro negócios, atendendo às características demográficas e às necessidades específicas dos beneficiários. Micro enterprises perform a fundamental component in promoting employment, innovation, and earnings-generation and in socio-economic development. For countries en route to development, the belief is that the dynamic engine of the micro enterprises could be a privileged instrument to promote in the battle against poverty, in the hope that this could be the venue to incentivize the poorest of the rural and urban populations to create their own businesses and forecast their own earnings. The creation and the growth of micro enterprises is, however, conditional upon various constraints. The inexistence of initial capital is cited in financial literature as one of the more important. To resort to external capital as a financing source, is itself dependent on various factors. The current study was conducted in Santo Antão, the most northern and mountainous island in the Archipelago of Cape Verde. The micro credit´s sector calls attention to the fact that it is an essential instrument in Cape Verde, particularly in the island of Santo Antão which has an economic and social structure extremely vulnerable, leading us to a better understanding of how micro enterprises operate in the three municipalities of the Island (Paul, Ribeira Grande and Porto Novo). During the course of the study we defined the socio-economic character of the micro entrepreneur Santantonense, with the goal of understanding and quantifying the sector´s contribution to the Island´s entrepreneurial development, keeping in mind the contraints and difficulties that confront the entrepreneurs when seeking financing. The process for gathering the information was performed through field research, beginning with elaboration and application of interviews, designed to identify the entrepreneur´s major characteristics and the importance of micro credit for the island of Santo Antão. The data gathered through the interviews have un underlying basic and critic appreciation of management for a better understanding and comparing the existing fragilities and for analyzing the micro entrepreneurs´ capacity to succeed. The configuration of economic activities was designed based on quantitative and qualitative analysis from data obtained from the questionnaires. Likewise, we analyzed and compared the success and non-success cases of the micro enterprises in the study, success cases with respect to the benefits of micro credit in reducing poverty and unemployment, creation of self-employment, and the education/information for the micro entrepreneurs of Santo Antão. In the non-success cases we analyzed the original causes as well as the impending consequences. One of the study´s contentions, as the data analysis shows, is that micro entrepreneur of Santo Antão has a low level of education with the majority of them being women. In addition the study shows that there is a need for a public discourse in terms of defining and developing incentives for creating and promoting micro businesses given the demographic characteristics and the specific necessities of the beneficiaries.

O empreendedorismo. O perfil do empreendedor da Ilha de Santiago Cabo Verde

Este trabalho apresenta um estudo qualitativo, desenvolvido através de pesquisa exploratória, bibliográfica e de campo, feito a trezentos e noventa e nove empreendedores e empresários da Ilha de Santiago, tendo em consideração o cenário económico actual e a preocupação à volta do sector privado. Procurou-se através de pesquisa junto às empresas activas, e cujo número de pessoas ao seu serviço não ultrapassa vinte, identificar três pontos fundamentais relacionados com os empreendedores: investigar os factores que levaram as pessoas a tornarem-se empreendedores; investigar as características principais do empreendedor de sucesso; identificar as características imprescindíveis para se atingir o sucesso empresarial relacionadas com o conhecimento, competências, atitude e talento, sequenciadas por ordem de importância. Para um melhor entendimento destas questões foi utilizado um referencial teórico que aborda o empreendedorismo. A pesquisa de campo foi realizada através de utilização de questionários – entrevistas às empresas estabelecidas nesta ilha, e o método de recolha de dados foi o de entrevista directa. Os resultados obtidos mostraram que os empreendedores enfatizam a importância dos factores comportamentais no sucesso das pequenas e médias empresas e evidenciaram que os factores mais significativos e limitativos do sucesso dos empreendedores no Município da Praia, ilha de Santiago, se referem ao ambiente interno do negócio. Considerando todos estes factores e de acordo com as pesquisas desenvolvidas e analisadas, este trabalho recolheu informações específicas dos empreendedores de sucesso da ilha de Santiago e que podem ser úteis para os que almejam o sucesso empresarial e para eventuais programas de capacitação e formação empreendedora na ilha. This work presents a qualitative study developed through exploratory, bibliographic and field research to three hundred and ninety nine managers and entrepreneurs from Santiago Island, taking into consideration the present economical scenario and main concerns linked to private sector. Through a research in active enterprises and whose staff number doesn’t exceed twenty, the goal was to identify three main issues related to entrepreneurs: look into the factors that encouraged people to become entrepreneurs; examine the main characteristics of a successful entrepreneur and identify, sequenced by order of importance, the most critical characteristics related to knowledge, skills, attitude and talent, that allow entrepreneurial success achievement. For a better understanding of these questions, a theoretical approach to entrepreneurship was exploited. Field research was carried on through the use of questionnaires in enterprises located in Praia, and the data collection method was direct interviews. Results obtained showed that entrepreneurs emphasize the importance of behavioral factors in the success of small and medium enterprises and they evidenced that the most significant and restrictive factors of entrepreneurs’ success in Santiago Island are related to internal business environment. Considering these factors, and according to research developed and analyzed, the work has collected specific information of successful entrepreneurs in Santiago that can be useful for those, in the island, who seek entrepreneurial success and for eventual capacity building and entrepreneurial training programs.