The Editor's Corner
Boštjan Antončič Full Text
The Journey from Novice to Serial Entrepreneurship in China and Germany: Are the Drivers the Same? Sergey Anokhin, Dietmar Grichnik, and Robert D. Hisrich
While in general entrepreneurs in emerging economies are significantly different from entrepreneurs in mature markets on most dimensions, serial entrepreneurs demonstrate certain similarities in their goals and motivations, skills and competencies, resources, strategies and other characteristics. The drivers governing the journey from novice to serial entrepreneurship – while consistent with the arguments advanced by Casson and Lazear – appear to differ somewhat between emerging and mature economies. Based on a cross-sectional survey of Chinese and German entrepreneurs, the study contributes to the understanding of entrepreneurship in emerging markets and extends the knowledge of serial entrepreneurship by analyzing whether the differences between serial and novice entrepreneurs can be attributed to the types of skills and competences possessed by the individuals, and whether particular motives for starting new ventures are more conducive to multiple business founding than others.
Key Words: serial entrepreneurship, emerging economies, China, Germany
JEL Classification: L26 Full Text
An Illustration of the Impact of Economic and Political Risk Using the Country Credit Rating Model for Japan, Malaysia and Russia Carl B.McGowan, Jr.
In this paper, we demonstrate the use of the country credit rating model in Japan, a developed economy, Malaysia, an upper middle-income economy, and Russia, a lower middle-income economy. We find that the country credit rating model tracks the gradual and minor deterioration of the economic condition of Japan, the financial crisis that occurred in Malaysia in 1997–1998, and the shock that hit the Russian economy in 1998 when the government defaulted on bonds, and the subsequent recoveries in both Malaysia and Russia
Key Words: corporate finance, foreign direct investment, economic growth, government policy, political economy
JEL Classification: F43, G18, G31, P16 Full Text
Means of Knowledge Acquisition of Entrepreneurs and Their Success Barbara Hvalič Erzetič
The goal of this paper is to analyze different approaches to acquiring new knowledge. We analyze what means of knowledge acquisition are used by entrepreneurs, such as formal education process, one and more day professional development workshops, professional counselors, professional literature and information on the world wide web. When making a decision on what means to use in order to increase one’s knowledge, entrepreneurs employ different assessment criteria: time and money investment as well as pedagogical techniques used. Time shortage is the most frequently cited reason that entrepreneurs do not invest more personal resources into knowledge acquisition processes. The main hypothesis we test, postulates that entrepreneurs who invest more time and money into knowledge acquisition processes are more successful. Success is measured with an average annual degree of growth of sale, profits and number of employees in the last four years and with entrepreneur’s opinion concerning success of the company’s business. Finally, we develop the implication for public policy and educational institutions on the means that need to be employed so that entrepreneurs would invest more resources in knowledge acquisition processes.
Key Words: entrepreneur, knowledge, success
JEL Classification: D, I, M Full Text
School Management: Norwegian Legacies Bowing to New Public Management Arild Tjeldvoll
The purpose of the study was to investigate the relevance of school management training programmes to current Norwegian education policies and strategies. A specific question was asked: How relevant is the teaching professors’ understanding of school management competence? The findings indicate a split understanding of policy relevant understanding of school management. A majority of respondents had an understanding of school management coherent with the national policies and strategies. A minority did not. They saw the headmaster primarily as a communicative facilitator for teachers’ work, and an ‘administrative caretaker’. In an international perspective the findings represent a Norwegian particularity. There is a collision between Norwegian anti-management legacies of running schools and the Government’s need for effective and accountable management. This may imply a slower speed of implementing educational reforms in Norway.
Key Words: school, management, training, education, reform policies, pedagogy
JEL Classification: I, O Full Text
Competition on the Global Market: A Way Towards an Autonomous International Court for Global Competition Cases Alen Balde
Competition policy is a field where economists and lawyers have to work hand in hand to achieve efficiency and, in the international arena, global welfare. At the present, there is no internationally recognised official authority under the auspices of which there would take shape the global competition policy and, simultaneously, set up a core of global competition rules. Competition policy, still national or supranational in its nature, is, as a consequence, under strong influence of other national or supranational policies and so regulated by various laws that in their specific way address competition cases including those with an international element. Overlapping of jurisdictions, conflicts between substantive and procedural laws are unavoidable. Considering that full and simultaneous compliance with all those laws is a hard task to fulfil, it makes cross-border transaction much more risky, time consuming, and costly than is necessary. By setting up an autonomous international court for global competition cases not only would we get rid obstacles to efficient enforcement of competition but we could make global welfare flourish without depriving developing countries of their economic growth.• Complete Issue
Key Words: Global competition, global market, international court, enforcement, World Trade Organization
JEL Classification: K21, L40 Full Text
• Abstracts in Slovene
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