ABSTRACT

The question of why some small businesses survive and become profitable while others exit the market continues to attract attention. This study analyzes the role of the institutional environment and business formation process in entrepreneurial activity (defined by total early-stage entrepreneurial activity rate) in the context of a high populous and low institutional trust environment. We find that the government's involvement in entrepreneurship through direct support programmes, differential incentives for enterprises engaged in different sectors, and to achieve social goals and political pluralism may reduce entrepreneurial activity. Also, support programmes aimed at promoting the formation of Micro and Small-Scale Enterprises may encourage the entry of entrepreneurs lacking a business strategy that takes into account risk-return tradeoffs. By focusing on the business formation process, this study adds to the debate on the implication of government intervention programmes in entrepreneurship and small business development.

摘要

为什么一些小企业能够生存并获利而另一些小企业退出市场的问题继续引起人们的关注。这项研究分析了在高人口密度和低制度信任环境下，制度环境和企业成立过程在企业家活动中的作用（由早期创业活动的总比率定义）。我们发现，政府通过直接支持计划，对从事不同行业的企业的不同激励措施以及实现社会目标和政治多元化而参与创业活动可能会减少创业活动。此外，旨在促进微型和小型企业组建的支持计划可能会鼓励缺乏考虑风险与回报权衡的商业策略的企业家进入。