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POLICY ENVIRONMENT AND ENTREPRENEURIAL TRANSIENCE

POLICY ENVIRONMENT AND ENTREPRENEURIAL TRANSIENCE. Sergey Anokhin Jaume Franquesa Jino Mwaka. Management & Information Systems Department Kent State University September 28, 2007. Environmental conditions. By the local residents. New venture creation within the area.

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POLICY ENVIRONMENT AND ENTREPRENEURIAL TRANSIENCE

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  1. POLICY ENVIRONMENT AND ENTREPRENEURIAL TRANSIENCE Sergey Anokhin Jaume Franquesa Jino Mwaka Management & Information Systems Department Kent State University September 28, 2007

  2. Environmental conditions By the local residents New venture creation within the area Gainful employment of entrepreneurial talent within the area Entrepreneurial Failure Entrepreneurial Transience By the individuals residing elsewhere Expansion into the area Migration into the area Local policies Inflow of the existing ventures into the area from elsewhere Stimulate Prevent Entrepreneurial Transience: A novel area of study Kent State University

  3. Hypotheses Education H.1+ Enterprise Zones H.2+ TRANSIENCE Income Tax H.3- H.4- Property Tax H.5+ Sales Tax H6 (a, b, c) Personal Income Kent State University

  4. Data & Method • Rich multi-source secondary data: including BWC, ODOD, Ohio Department of Taxation, Bureau of Census, Bureau of economic analysis, SBA, and FDIC • Panel data (2001 – 2004), 88 counties, 352 observations • Random – Effects generalized Least squares regression • Robust estimation of standard errors • Wald c2 statistics • D.V: Rate of Net transience (Transience/Actives) • Net Transiencei(t) = [Activesi(t) – Activesi(t-1)] – [Newi(t) – Cancelledi(t) – Bankrupti(t)] • IVs: • Educational attainment (% of adult population with Bachelors degree or higher) • Enterprise Zones (# of active EZ/# of municipalities) • Tax Rates: Sales, income, property – class II • Controls Kent State University

  5. Results

  6. Interaction plots Kent State University

  7. Interaction plots … Kent State University

  8. Discussions • Importance of policy variables • The importance of human capital • No direct effect of creation of special economic zones • Moderating effect of average income • Exploratory study Kent State University

  9. Questions, Comments, Suggestions? Kent State University

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