A Built Economy in Education, Sustainability and Regulation
Edited by Jean Bonnet, Marcus Dejardin and Antonia Madrid-Guijarro
Chapter 15: Under What Conditions Can a Regulation Become a Source of Entrepreneurial Opportunities?
Amélie Jacquemin and Frank Janssen INTRODUCTION The link between regulation and entrepreneurship has been a ‘hot’ topic for several years and is now giving the worlds of politics, media, academia and the professional sphere plenty to talk about. This question is rooted in the school of thought that prompted researchers to move away from the question ‘Who is the entrepreneur?’ (personality) to focus on the ‘What does the entrepreneur do?’ question (behaviour). This has led to the examination of the environmental conditions in which the entrepreneur works and of the impact that these conditions can have on the entrepreneur (Covin and Slevin, 1991; Gnyawali and Fogel, 1994). In the 1970s and the 1980s some researchers started examining the influence of the fiscal and regulatory environment on businesses (Kilby, 1971; Kent, 1984; Dana, 1987, 1990). The conclusions of these initial studies were consistent: countries or regions that maintain few rules and regulations and that offer tax incentives provide a ‘conducive’ environment and increase the likelihood of new companies being set up. The majority of studies investigating this topic have been published since the end of the 1990s (for example Grilo and Irigoyen, 2006; Edwards et al., 2003, 2004). These studies reached conflicting results preventing us from making a clear judgment on the question of the impact of regulation on entrepreneurship. Our main objective is to understand why these conclusions are not clear and to make suggestions on how to overcome these controversies. In this chapter, we define regulation...
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