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Entrepreneurial Dynamics and Higher Education Institutions: Evidence from the Post-Communist World

Korosteleva, JA; Belitski, M; (2012) Entrepreneurial Dynamics and Higher Education Institutions: Evidence from the Post-Communist World. (Economics and Business Working Paper 120). Centre for Comparative Economics, SSEES, UCL: London, UK. Green open access

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Abstract

Drawing on the institutional and regional entrepreneurship literature this study develops a conceptual framework to analyse the impact of higher education institutions on entrepreneurial dynamics across the cities of the Commonwealth of Independent States (CIS) during 1995-2008. Extending upon Scott (1995) and Stenholm's (2011) multi-pillar institutional concept, we posit that higher education institutions may influence entrepreneurial dynamics through various channels such as (1) the human capital development; (2) shaping a system of societal values and norms which cultivate a positive attitude towards entrepreneurship; (3) affecting perceptions of the knowledge and skills necessary to start up a business; and (4) knowledge spillovers. The empirical counterpart of this study utilizes a unique dataset to study education institutions as a driving force behind the growth in stock of small businesses, employing the System Generalised Method of Moments technique. We show that while formally constructed within the regulative pillar and mandated by national laws on education, higher education institutions are embedded in the other three pillars, notably normative, cognitive and conducive, to foster entrepreneurial dynamics. This embeddedness of higher education institutions within all four institutional pillars and their ability to affect entrepreneurial dynamics through these multiple institutional dimensions means they play an important role in explaining entrepreneurial dynamics in the region.

Type: Working / discussion paper
Title: Entrepreneurial Dynamics and Higher Education Institutions: Evidence from the Post-Communist World
Open access status: An open access version is available from UCL Discovery
Publisher version: http://www.ucl.ac.uk/ssees/publishing/economics-an...
Language: English
Keywords: SMEs, growth in SMEs, insitutional theory, CIS cities, higher education institutions
UCL classification: UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > SSEES
URI: https://discovery.ucl.ac.uk/id/eprint/1401079
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