Izvorni znanstveni članak
https://doi.org/10.18045/zbefri.2022.2.329
Determinants of entrepreneurial dynamics: The Case of the European Union
Jelena J. Stanković
orcid.org/0000-0002-9875-9861
; University of Niš, Faculty of Economics, Niš, Serbia
Ivana Marjanović
orcid.org/0000-0002-9526-0467
Sandra Milanović
orcid.org/0000-0002-0582-045X
Milica Jovanović Vujatović
orcid.org/0000-0002-6410-0938
Sažetak
Since economic theory identifies new enterprises as one of the basic drivers of
economic growth, it brings to the forefront the need to understand the existing
dynamics of entrepreneurship. Consequently, the identification of the basic
entrepreneurship’s determinants is a central issue from both a theoretical and a
practical point of view in contemporary literature. A better understanding of the
factors influencing the dynamics of entrepreneurship is a basic precondition for
creating effective policies aimed at encouraging the creation of new companies,
and consequently, the creation of new jobs. Therefore, this paper addresses several
important issues. From the theoretical standpoint, the role of entrepreneurial
determinants in creating a new business is examined. From a practical standpoint,
the basic formal institutional factors influencing the birth rate of new companies
are analyzed. The analysis was conducted on a sample of European Union
countries for the period from 2010 to 2019 using data from the World Bank’s
Doing Business database, as well as data on business dynamics from the Eurostat
database. A panel data regression analysis using the fixed-effects estimation
procedure with Driscoll-Kraay standard errors was conducted, and the results indicate that the dynamics of new enterprises’ foundation are negatively affected
by the total tax burden, as well as the cost of property registration, while the
amount of initial capital required to open a business has a positive impact. The
results of the research can serve as a basis for fine-tuning policies that will
facilitate and encourage the creation of new enterprises.
Ključne riječi
enterprise birth rates; formal institutional factors; Doing business; EU countries; panel analysis
Hrčak ID:
289640
URI
Datum izdavanja:
30.12.2022.
Posjeta: 366 *