Economics & Sociology
ISSN: 2071-789X eISSN: 2306-3459 DOI: 10.14254/2071-789XIndex PUBMS: f5512f57-a601-11e7-8f0e-080027f4daa0
| Title: | Determinants of new business formation – some lessons from the Czech Republic |
| Issue: |
Vol. 8, No 1, 2015
Published date: 20-05-2015 (print) / 20-05-2015 (online) |
| Journal: |
Economics & Sociology
ISSN: 2071-789X, eISSN: 2306-3459 |
| Authors: |
Oldřich Hájek
Jana Nekolová Jiří Novosák |
| Keywords: | Entrepreneurship, new business formation, OLS regression, spatial regression, the Czech Republic |
| DOI: | 10.14254/2071-789X.2015/8-1/11 |
| Index PUBMS: | 1eb7e528-aa13-11e7-8eae-080027f4daa0 |
| Language: | English |
| Pages: | 147-156 (10) |
| JEL classification: | R12, M13, R15 |
| Website: | https://www.economics-sociology.eu/?315,en_determinants-of-new-business-formation-%E2%80%93-some-lessons-from-the-czech-republic |
This paper concerns with determinants of new business formation. The determinants are related to relevant theoretical concepts dealing with the issue. The Czech Re- public in the time period 2011-2012 is the area of interest. Spatial approach is used to identify the impact of the deter- minants on new business formation. Thus, the data are re- lated to 206 Czech microregions. The methods of regression analysis are employed to gain results. These show the posi- tive impact of agglomeration economies and the quality of entrepreneurial climate on new business formation. More- over, human capital and the presence of foreign-owned busi- nesses positively influence new business formation. On the contrary, the relationship between unemployment and new business formation is ambivalent. Altogether, the findings support path-dependency of new business formation with important implications for entrepreneurship policy. Finally, regression results point out the relevance of spatial spillovers in explaining variation in new business formation.