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This study explores the role of both trait-like (i.e. adaptability) and situational (previous small business ownership and rurality) variables, on entrepreneurial identity (EI) through a social identity theory lens.

Path analysis was used on 376 individuals from across the United States who met various criteria and were recruited using Prolific.

Adaptability and previous small business ownership were found to be predictors of EI. Findings also highlight the moderating role of adaptability on the previous small business ownership-EI and rurality-EI links. Notably, highly adaptable individuals who have previously owned businesses tend to hold more of an EI, and those who are less adaptable and live in rural locations also tend to hold less of an EI.

Understanding the conditions under which individuals are likely to hold more of an EI may provide several benefits to organizations and individuals within society, including information that can be used to develop more fine-tuned career counseling and training, risk management strategies, and a more calculated allocation of finite resources.

Despite both personal trait-like (i.e. focus/adaptability) and situational (i.e. rurality and previous small business ownership experience) factors likely playing a crucial role in the formation of individuals' perceptions, previous work has largely ignored their interaction in the development of EI. The authors test a model encompassing trait-like (i.e. focus/adaptability) and situational (rurality, previous small business ownership experience) predictors of EI, along with their interactive effects, and illuminate a more holistic picture of EI's antecedents.

The purpose of this paper is to use a panel of New Zealand unlisted firms from 1998 to 2009 to examine the relationship between ownership structure and firm leverage ratios. Although, the choice of the debt in capital structure is important for all firms, the scale effects may influence the degree of influence of particular financial theories upon capital structure.

To control the endogeneity effect of insider ownership, this study uses the dynamic panel generalised method of moment estimation and uses the Granger causality test to check the causality effect of leverage and insider ownership.

The findings suggest an inverse U-shape relationship of insider ownership and leverage, indicating higher insider ownership increases management entrenchment while lower insider ownership increases misalignment of the interests of management and owners. Moreover, this study finds bi-directional causation between insider ownership and firm leverage ratios.

Finance policy needs to vary across firm type, industries and firm characteristics and should match the different borrowing requirements of small business.

This paper contributes to literature by investigating whether the structure of equity ownership can impact cross-sectional variations in capital structure. Moreover, most of the capital structure research has been conducted in large markets like USA and publicly listed firms but this paper concentrates on the evidence from New Zealand unlisted businesses. Also, the econometric analysis is more robust due to controlling for the endogeneity effect of insider ownership.

There can be no doubt that the small and medium sized enterprise (SME) plays a pivotal role in most if not all economies, and that social policy makers have an interest in ensuring the viability of this sector of the economy, which plays a crucial role in the contract culture of national and international competitiveness. Quite apart from the essential symbiosis between the large multinationals and public limited companies and this sector, the sustainability of unemployment benefit payouts would be jeopardised should the sector experience a significant downturn. There are already worldwide concerns about the ability to continue to finance state pensions at anything like the present scale, and any loss of viability of the SME sector will simply exacerbate this situation. There are also useful reciprocations to be achieved by comparisons across sectors, including in significant areas such as internal control (Vinten, Lane, Hayes, 1996). The recent flurry of activity has included initiatives of the Institute of Chartered Accountants of England and Wales 1996) and the information needs of owners (Institute of Chartered Accountants of England and Wales 1996a), an Auditing Practices Board (1996) Practice Note, and a Department of Trade and Industry Consultation Document (DTI 1996).

Small businesses are dominant in most economies and their owners likely experience high levels of distress. However, we have not fully explored how these common businesses meaningfully differ with respect to the stress process. Understanding the meaningful variations or subgroups (i.e., heterogeneity) in the small business population will advance occupational health psychology, both in research and practice (e.g., Schonfeld, 2017; Stephan, 2018). To systematize these efforts, the author identifies five commonly appearing “heterogeneity factors” from the literature as modifiers of stressors or the stress process among small business owners. These five heterogeneity factors include: owner centrality, individual differences, gender differences, business/ownership type, and time. After synthesizing the research corresponding to each of these five factors, the author offers specific suggestions for identifying and incorporating relevant heterogeneity factors in future investigations of small business owners’ stress. The author closes by discussing implications for advancing occupational health theories.

Drawing on the motivation theory and family business literature, the purpose of this paper is to investigate the influence of family effect in growth behaviour of small-and-medium-sized enterprises (SMEs) in the UK.

The authors first compare the actual and expected growth of family and non-family-owned SMEs. The authors then compare the growth behaviour of small family firms managed by owner-directors and small family businesses co-managed by family and non-family directors with the non-family-owned SMEs.

The authors find a negative effect of family ownership on actual and intended small business growth behaviours. In addition, the findings also suggest that small family firms co-managed by non-family and family directors are no different from non-family-owned firms, in terms of reporting past actual growth in employment size and turnover as well as expecting growth in workforce size and turnover. The authors also observe a significant difference in anticipating sales growth between family-controlled and non-family-controlled firms. However, this difference is not explained by the heterogeneity of a top management team.

The study has important implications for managerial practice to family firms and on policies that improve the growth of SMEs. Specifically, the competence of managers and decision makers matters considerably in evaluating the efficient operation of the business and maximising the economic growth in SMEs.

The study makes two important theoretical contributions to small business growth literature. First, the findings underline a negative family effect in the actual and expected growth behaviour of SMEs. Second, the mode of family ownership alone may not sufficiently capture family effect and offer a thorough understanding of growth behaviour in SMEs.

This paper seeks to explore self‐employment through home‐based business ownership as a potential solution to the inter‐role conflict experienced by women attempting to balance dual work and family roles.

Home‐based businesses (n = 626) were surveyed in Western Australia as part of a larger national study. Data were collected on operator and business characteristics, and specific home‐based business issues (e.g. reasons for preferring a home‐base, management and planning, growth facilitators and barriers). Four‐way comparisons investigating the dynamics of home‐based business ownership between male and female operators and operators with and without dependants were made.

The attraction of home‐based business ownership is driven predominantly by the flexibility afforded to lifestyle and the ability to balance work and family. While these advantages were more salient for women than for men, gender per se was not a determining factor in why operators started a home‐based business. The more significant determining factor was the issue of dependants.

Self‐employment, particularly through home‐based business ownership, may well solve some women's necessity to balance work and family. However, it may not be a viable solution for all women, particularly those seeking high financial and career rewards.

This paper contributes empirical findings regarding home‐based businesses which, as a distinct form of small business and self‐employment alternative, still remain very much under‐researched. The paper also addresses the issue of home‐based businesses being emancipatory vehicles for women juggling to manage work and family, and provides findings which question this increasingly populist notion.

The relationship between education and training and the currently popular theme of “enterprise culture” is explored. The expression “enterprise culture”, is at present ill‐defined, if defined at all. The confusions surrounding this expression relate in turn to the failure to make proper distinctions between entrepreneurship, enterprise and small business. These terms are defined in this context, as well as “intrapreneur”. Entrepreneurs are defined in terms of a set of attributes, some of which can be measured. Small business is defined in terms of ownership and task structure. Enterprise is seen to be something that means the exercise of entrepreneurial attributes in a wide range of different situations. Intrapreneurship is the exercise of entrepreneurial attributes within a large company or bureauracy. The relationship between these redefined concepts is explored and the issue of whether entrepreneurship can be socially engineered through education and training is addressed. A definition of what constitutes “enterprise culture” is then related to education and training. This link is discussed, both in general terms and particularly in respect of university and management education. It is argued that many of the values and structures pervading in university education and university business schools may be the antithesis of entrepreneurship. In this respect, the links between entrepreneurship as practised in small business and as fostered under the “intrapreneurship” banner in large companies is explored. Finally, policy objectives in fostering entrepreneurship, small business and intrapreneurship, particularly in respect of education and training, are reviewed.

While the general trend in the UK is towards an increase in female owned small businesses, during the last few years the number of North West of England businesses owned by women has fallen by 12.5 per cent. Aims to investigate the barriers preventing women from entering into growth businesses in the North West. The research included discussions with 12 service providers as well as in‐depth interviews and focus groups with 99 potential and established female business owners. The main barriers blocking women’s ownership of small businesses involved the widely held stereotype of business owners as “white, middle class, males”, cultural differences, a shortage of premises for new businesses and the lack of appropriate childcare.

This study aims to study the moderating effects of private ownership and government support on the relationship between outsourcing and product innovation in entrepreneurial ventures in a transition economy.

The data of 10,296 Vietnamese entrepreneurial ventures from the four rounds of the survey conducted by the General Statistics Office (GSO) of Vietnam to investigate the moderating effects of private ownership and government support on the association between outsourcing and entrepreneurial ventures’ product innovation performance. The Probit regression model is employed to estimate such associations.

Our research uncovered that the impact of outsourcing on the likelihood of product innovation is more significant for entrepreneurial operations characterized by a substantial degree of private ownership and government backing as opposed to those without.

The results of our research indicated that the resource-based perspective and extended resource-based view (ERBV) are essential in examining the impact of gaining resources or skills from external sources on the growth of entrepreneurial enterprises. These ideas have significance and importance not just in industrialized economies but also in countries undergoing transition. Our findings suggest that entrepreneurial enterprises should have the ability to manage a wide range of resources and make decisions about which activities should be handled internally and which should be delegated to other parties.

Our findings also imply that entrepreneurial ventures should be able to control many resources and choose which tasks should be performed in-house and which should be outsourced to third parties.

By adopting and leveraging the resource-based view (RBV) and extended resource-based views (ERBV), our study developed a theoretical model about private ownership and government support for moderate outsourcing’s impact on entrepreneurial innovation in a transition economy.

This viewpoint will present some statistical information about employee ownership in the US and interpret and analyze this information in order to address the barriers question using material from qualitative interviews that the authors have conducted over the last ten years with practitioners in the field. There have been few actual empirical studies that sort out the different barriers to employee ownership. The authors have chosen to focus on employee stock ownership plan (ESOP) in the US because this is the principal example from which people could learn from, and the high prevalence of ESOPs plays an important role in the US. This overview will present interpretations of these interviews with conceptual arguments that cannot always be supported with either overwhelming empirical studies or arguments that conclusively eliminate one or other explanation. This is an initial attempt to bring some comprehensive treatment and data to this incipient discussion. This is based on an interpretive analysis of qualitative interviews without quantification or social survey methods used for measurement. The advantage of this approach is that it lays out a completely different level of analysis of the barriers to employee ownership in the US that is “closer to the ground” and more based in the views of front-line practitioners who are actually implementing it.

Analysis and interpretation of qualitative interviews.

The list of barriers that has been identified is not exhaustive. The preliminary conclusions are that (not necessarily in this order) limitations of investment banking models, poor supportive infrastructure, complexity and cost and regulatory issues, the lack of support by political parties and social movements, the sale of companies due to financial considerations and legal complexities and lack of clarity and resistance by Federal agencies are major barriers in the US. Various sectors of Wall Street has been amenable to employee ownership with the proper government and private sector support. What is needed now is a series of quantitative surveys and qualitative interviews of retiring business owners in closely held companies and of CEOs and CFOs in stock market companies in order to gauge the barriers that they believe are blocking their own action in the employee share ownership area. The Rutgers Institute for the Study of Employee Ownership and Profit Sharing is working on such a research agenda at this time. In addition, with the future size of the US employee ownership sector at stake, a more intensive one-year interview project would make sense in order to present these different explanations to key actors and practitioners and ask them to provide evidence to prove or disprove the relevance of the different barriers.

Empirical research which can resolve which barriers are more important than others is presented, when possible; however, studies that provide metrics to compare different barriers are not available and need to be carried out.

Other countries considering employee ownership policies can learn from the US experience. US policymakers and legislators can learn from an original, recent discussion of barriers.

If employee ownership sectors are to be developed, a careful discussion of barriers is most relevant.

Original document by the authors based on original interviews.