Establishment of Inter-bank Market Most of Islamic banks exist as single entities. It is clear, that the strength of commercial banking is not derived from individual institutions but rather by connecting all banks together. Inter-bank transactions among Islamic banks are very minimal because in most cases, the number of Islamic bank in many countries may hold and transact among them only. Therefore, making an Islamic money market as a reality may requires sometimes. Malaysia has proposed the idea of an international money and capital market that adapts the Shariah rules. Both centres can complement each other in achieving and ensuring the smooth implementation and operation of the IIFM.
Transparency and Control Asymmetric information also leads to the problems of moral hazard and the adverse selection in financial markets. In this regard, there is a need to make the activities of the banks as transparent as possible. The present situation of Islamic banks leaves a lot to be desired in this respect. In many cases the most essential information is not made public.
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More transparency in various aspects of the activities of the Islamic banks will increase the confidence of clients and will help avoiding panics Usmani, To protect the interest of the public and the economy form financial panics, most governments have created eleborate regulatory bodies. As a matter of fact, banking industry is one of the most heavily regulated industries all over the world. In the aftermath of the Asian financial crisis, the regulation and supervision of financial firms has assumed greater importance.
In Malaysia, Bank Negara Malaysia BNM is the key authority responsible for the financial stability and supervision of the financial sector. The Securities Commission of Malaysia is responsible for the promotion of a fair, efficient, secure and transparent capital market and is ultimately responsible for investor protection.
It also ensures proper conduct by market institutions. PIDM contributes towards financial stability through the administration of the deposit insurance system for the banking sector and the protection scheme for the insurance and takaful sector as well as the promotion of sound risk management practices by the financial industry. It is critical at this stage that Islamic financial institutions are incorporated into the global money related framework. It is relevant to note in such manner that banking products are unique, and their operational modes are very distinct.
The administrative and supervisory guidelines provided for conventional banking would not be sufficient to give the vital shields to Islamic banking. Overlooking such fact certainty would leave the entire banking sector exposed, simply because a part of it is not supervised properly. Countries that host Islamic banking and financial institutions have real enthusiasm for closing this hole. IFSB serves as an international standard-setting body of regulatory and supervisory agencies that have vested interest in ensuring the soundness and stability of the Islamic financial services industry, broadly defined to include banking, capital markets and takaful.
Differences Of Opinion Between The Islamic Experts At present time there is no ultimate authority or a single organisation that governs the Islamic Financial Industry, nor there is any set of rules and guidelines regarding shariah interpretation. These Shariah Boards normally consist of a number of shariah scholars who have well equipped with shariah and finance knowledge.
However, due to the limited number of scholars who are well versed in both finance and religion, the Shariah Boards tend to be overburdened and the approval process becomes difficult and unpredictable Muhammad Shaukat Maliket et. Differences of opinion between the Islamic school of laws complicate the matter as do the different methodologies that may be called upon when elaborating on the law. It is also needed to consider appointing local and foreign Shariah experts and scholars as independent directors on boards of local Islamic banks.
Heightened Competition Competition in banking has intensified over the past decades and is putting increasing pressure on bank returns. Among such developments is the expansion of Islamic banking 7 - Sunday, August 23,, www. Islamic banks have proliferated in the Far East and the Arabian Gulf and a large number of banking firms have diverted some of their operations away from conventional practices by setting up Islamic windows or establishing full-fledged Islamic banks.
Countries like Malaysia and Bahrain are striving to be regional hubs for Islamic financial services. There are now about Islamic financial institutions worldwide, including banks, mutual funds, mortgage companies, and Takaful or insurance firms. It is noteworthy that interest in Islamic finance is not only limited to stakeholders with common religious backgrounds. In Malaysia, some experts are concerns of the Malaysian banking system getting overcrowded.
Therefore, Islamic banks must come up with dynamic products and services that constantly evolve to meet the ever-changing customer needs and expectations of all walks of life. Aggressive launch of innovative and sophisticated products by financial institutions puts tremendous pressures on Islamic banks. According Datuk Vaseehar Hassan Abdul Razack, the Chairman of RHB Islamic Bank, more innovative products are required in the sector whereby there needs to be adequately qualified people from the board to management and even junior executives, especially those in the frontline.
Islamic banking institutions must also be prepared to accept foreign expertise, even at board and senior management levels. As the Islamic Banking system is based on the revelation wahyu , all principles that govern the Islamic Banks will ensure the justice to all parties. Research shows that the Islamic banking is growing very rapidly and well accepted not only in Muslim countries, but also by those who reside in Western and European countries.
Gardner,and Bradley J. Shabri Abd. Majid, Rossazana Ab. Related Papers. Islamic Banking in Malaysia. By Sherin Kunhibava. Islamic banking and finance: on its way to globalization. By Ibrahim Awartani. Growth and Prospect of Islamic Finance in Malaysia. By Abdul Kadir. Factors influencing the choice of Takaful over conventional insurance: The case of Malaysia. By Assoc. Therefore, these findings have the capacity to inspire the leaders from various government agencies and entrepreneurs to work together in instilling the spirit of business Jihad as a means to achieve high motivation and performance in the business world.
Using OLS and multinomial logit MNL regression techniques, we find differential effects and constraints for men and women-owned businesses: Men generally perform better than women, controlling for a host of characteristics. We find that among women-operated firms, locating a business at home has negative performance implications. Additionally, women-operated firms report more positive growth experiences when their businesses are formally-registered.
While credit constraint has negative effects for both male and female-operated firms, the effects are felt stronger among men. We also find some evidence of ICT use-age on performance of firms, with differential effects for men and women. These findings provide significant scope for policy targeting in order to enhance business performance and growth among own-account and micro- enterprises in Ghana.
Keywords : Own-account firms; micro enterprise; gender; firm performance; business growth; Ghana. An exploratory qualitative study from a constructivist grounded theory perspective was used, while sample of sixteen women was conducted in-depth unstructured interviews. We found that women who have a high level of future orientation, authority in decision making, group management skills, networks resources and business knowledge are more likely to meet a high performing business in innovation and job creation for outsiders family members.
This study provides insights into womens entrepreneurship and small business development in the developing countries Keywords : Women; Business Performance; Microcredit; Malaysia. Why latent entrepreneurs delay their launch to the market in Mexico? Due to its strategic geographical position, the region of Jalisco, Mexico, is an attraction pole with more than high-tech companies, exporting a total value of USD 21 billion around GBP The model explains why latent entrepreneurs delay launching to the market, based on their fear of failure, perceived opportunities, and the emulation effect formed when nascent entrepreneurs interact with other successful colleagues.
The main finding of this study suggests that in Mexico latent entrepreneurs fear of failure does not moderate the relationship between perceived behavioural control, entrepreneurial intentions, perceived opportunities, and the knowledge of other successful entrepreneurs. Keywords : Entrepreneurship; latent entrepreneur; fear of failure; perceived opportunities; entrepreneurial networks; multigroup structural equation modelling; GEM; Global Entrepreneurship Monitor; Mexico; Jalisco; innovation; intention; perceived behavioural control; entrepreneurial intention; small business.
It argues that without their entrepreneurial and resilient spirit, Beit Hillel would not have survived, thus hinting at the key role such women played the in history of the agricultural settlement in Israel. Is there a supreme being controlling the universe? Spirituality, one of the most prominent aspects of personal beliefs, derives from the effects of both personal and social religious practices and confidence about the existence of a supreme being.
Based on primary data collected from members of an association of firms that share the same principles and values, this paper analyses the effect that the entrepreneurs personal beliefs have on the possibility to learn from the network and, therefore, improve his or her firms performance. We find that the effect of shared beliefs on network-based learning is positively mediated by the cultural compatibility, creativity and sense of identity of the entrepreneurs in the network.
Keywords : Spirituality; Entrepreneurship; Personal beliefs; Network based learning; Cognitive proximity. Thus, it is necessary to examine the core business practises of enterprises in developing economy like India using sustainability reporting disclosures. The study reviewed the sustainability reports published by manufacturing MSMEs using MSME sustainability disclosure index MSDI in order to detail the business practises performed by the firms to address the sustainability challenges. The results indicate that sustainability reporting practises are dearth in Indian manufacturing MSMEs, especially in the context of environmental and social disclosures.
The study feeds the debate regarding the extent to which MSDI can be considered as a mechanism for discharging social and environmental accountability in MSMEs. Co-operation challenges and related learning needs are studied in the start-up entrepreneurship context, where entrepreneurs as new growth oriented venture founders are often searching additional capital providers. Understanding knowledge gaps of each other and learning by doing are important drivers of co-operation between founders and investors. Entrepreneurs pointed out knowledge gaps of business angels related to syndication.
Business angels stressed learning needs of entrepreneurs in the field of testing the business idea and communicating with early users. Creating the cooperative entrepreneurial team was also considered an important learning challenge. Entrepreneurship education should prepare young entrepreneurs to understand the role of symbiotic entrepreneurship and different stakeholders in the start-up venture development process. Keywords : entrepreneurship; business opportunities; start-up process; business angels; knowledge gaps; co-operation; trust; Estonia.
Examining female entrepreneurial firms: Can we predict growth orientation? Traditional growth models seem unable to account for this phenomenon and do not consider differences in gender as a causal factor. Consequently, this paper examines the growth orientation of female-owned firms in Ireland. Specifically, it identifies the factors that impact upon this process and provides clarity on predicting the growth trajectories based upon these entrepreneurial and organisational factors.
As such, it aims to provide a mechanism to predict and stimulate high growth businesses among female entrepreneurs both within Ireland and across similar countries. Keywords : Female entrepreneurs; Growth Factors; Growth trajectories. The success of these women entrepreneurs came at the back of a plethora of intertwined complexities these women entrepreneurs had to contend against.
Vho Denga andrnVho Masindi were successful bricoleur entrepreneurs. Their activities have influenced a few other local women to enter entrepreneurship. This paper finds that these entrepreneurs never developed into larger formal entities commonly known as SMMEs. Vho Denga and Vho Masindi should be considered and utilised as role models and mentors of aspiring women entrepreneurs. It identified and categorized e-commerce as an innovation among microenterprises. It also assessed the level of innovativeness on the use of e-commerce and determined the effects of adoption on firms performance.
Primary data was collected from microenterprises engaged in furniture works, leather products, clothing and textiles from three states in Nigeria through the use of questionnaire. The result showed that majority Adoption had positive and significant on performance. The study established that e-commerce adoption improves firm performance; however SSEs still lags in their level of adoption. There is therefore the need for SSEs to be sensitized to enhance total institutionalization of e-commerce. The developed measure was tested for reliability and validity.
We found that Degree or Extent, Speed, and Scope are the three dimensions of Internationalisation for SMEs, and also found them reliable and valid to measure this construct. Results of this study contradict with some past studies which supported Internationalisation of SMEs being a uni-dimensional construct. But, results are also supported by some previous studies,for claiming Internationalisation of SMEs being a Multi-dimensional construct. This study will imply to practitioners in assessment of Internationalisation in their SMEs, related to degree, speed and scope.
Objectives of policies and programes to promote Internationalisation in SMEs can be set accordingly. In addition, International Entrepreneurship researchers can use this measure to further study and investigate Internationalisation of SMEs. This study provides a ground for future to add more dimensions to the Internationalisation construct. The research builds on the technology gap theory and the analysis of the self-selection of firms into the export market. Unlike other studies that have focused on the export behaviour of firms in developed economies where business environment is generally stable and favourable, the paper controls for the relevance of business environment and the stage of transition on export performance of firms.
Findings show that the impact of innovation on export performance increases with the transition reforms. Macroeconomic instability acts as a moderating factor of export performance in countries at high transition stage, as it pushes firms to export more, as a risk shifting mechanism. The main implication of the study is that the impact of some explanatory factors on export performance differs through the stages of transition. Keywords : export performance; innovation; transition stage; quality of institutions.
DOI: Findings indicate that in the home countries, government regulations and lack of human and financial resources were the most determinant impeding factors while welcoming attitude of local rulers was the most determinant facilitating factor. In the host country, tolerance, openness, recognition and validation of credentials from the home country, and government services for immigrants were found as the most significant factors that facilitate the start-up and development of diasporic transnational entrepreneurship.
The lack of these factors impedes the start-up and development of diasporic transnational activities. Present paper has taken up perceptual measure of success. Nine success factors are identified on basis of past researches and women entrepreneurs perception on these factors is measured with the help of primary survey conducted on all the registered women owned enterprises in the northern state of India. Entrepreneurs background characteristics and enterprise characteristics are considered to assess whether they have an impact on the success perception of the entrepreneurs. The study shows that family size, education, firms size and age have impact on success perception of women entrepreneurs.
The major contribution of the paper is that the background of entrepreneur as well as enterprise are studied together to assess their impact on success perception. An interdisciplinary literature review result in identification of previous studies suggesting positive relationship between women entrepreneurship practice, ICT adoption and business performance.
A conceptual framework is then developed, the concept of six WEP dimension entrepreneurial traits, entrepreneurial experience, management skill, customer relation, training and education and environment ; two ICT adoption dimension e-commerce and m-commerce ; and two BP measures financial performance and non-financial performance. The conceptual framework linked different constructs from empirical study in the literature to the explanatory variable relative to women entrepreneur in Malaysia and Indonesia.
The implication of this study is expected to highlighting the importance of WEP and the role of ICT adoption for BP and clarifies which practices approaches are valuable. In future, a research model will be developed by testing the proposed conceptual framework using Structural Equation Modelling SEM. Keywords : Gender; women entrepreneurship practices; business performance; ICT adoption; entrepreneurial traits; entrepreneurial experience; management skill; customer relation; training and education; environment.
The data was collected, from Micro credit financing participants and a control group of non-participants, through cluster sampling technique. The research reveals that participation in micro-credit finance program eradicates poverty in Pakistan. Participation in MFP also empowers women in Pakistan through poverty eradication. However, the study found that MFPs are not lending to the poorest of the poor. Study results are helpful for policy makers so that they can use effective policies in order to eradicate the poverty and unemployment from society. Keywords : Micro-credit finance; women empowerment; poverty eradication; micro-credit finance program; social-acceptance; involvement; decision making.
Chinese are both, one of the fast growing ethnic communities in Europe and one of the most entrepreneurial. The development of ethnic enclave further contributes to support the increasing role of migrant entrepreneurship on local development. In the last decade, Chinese community is expanding at regional level and its entrepreneurial attitude is strongly increasing compared to natives in despite of economic crisis.
However, since Chinese entrepreneurs are not homogeneously distributed, looking at spatial and industrial dependence is crucial to better understand the Chinese entrepreneurship growth strategies and to suggest policies supporting and exploiting local network externalities potentially influencing the regional development. In this perspective, this study focuses on the role of Chinese community size and its capacity to stimulate entrepreneurial specialisation rather than diversification across industries as well as the industrial specialisation of the local system in driving the share and growth rate of Chinese micro-entrepreneurship.
Keywords : ethnic entrepreneurship; entrepreneurial diversification; local specialisation; Chinese community; growth strategy; Italy. Despite the growing relevance and use of social networking technologies in entrepreneurship, few studies investigate the impact and outcome of social networking technologies in entrepreneurial processes. This paper addresses this research gap and explores the silent revolution instigated by new technological developments on contemporary networking practices.
The paper is based on a case study involving 20 Beijing based digital entrepreneurs and presents empirical data contributing to the intersection of entrepreneurship and networking in the digital age. The paper applies a theoretical framework combining entrepreneurship and network theory, and offers new theoretical directions suited to explore networking in the digital dimension. The paper finds that WeChat, the Swissknife of social media, provide entrepreneurs with new diverse channels of networking, in practice diminishing traditional restraints for networking.
The paper offers advanced insights to contemporary entrepreneurship and networking in the digital era, a field in need of future attention and extensive research. Keywords : Digital entrepreneurship; social networking technology; networks; guanxi; strong ties; weak ties; latent ties; WeChat; China; Beijing. Does gender matter in credit denial among small and medium scale enterprises in Ghana?
However, the ability of these enterprises to access credit in order to expand their businesses has for years remain a key challenge. Past studies on credit denial among SMEs have emphasised firms characteristics with little emphasis on firm owners characteristics such as gender. The present study revisits previous studies and provide evidence supporting our hypothesis that gender matters in credit denial among SMEs.
The study relies mainly on primary data and applies the binary probit estimation technique to the dataset. The study reveals among others that owners of small and medium scale enterprises who are females are less likely to be denied credit. Given the findings, recommendations and relevant policy implications are provided. Keywords : Gender; entrepreneurship; small-and-medium-scale enterprises; credit denial; probit regression; Ghana. Their contribution to household income is significant to the extent that in some developing countries it exceeds that of the formal sector.
However, the dearth of information regarding the ways in which male-owned and female-owned micro-enterprises grow and change over time is becoming a major academic and policy concern. Using Botswana as the case study country, this paper presents a qualitative analysis of microenterprises in developing countries, using data collected on issues of source of start-up capital, perceived growth, and the dynamics of household decision making in the informal sector.
A number of challenges were identified including inadequacy of policy support on micro-enterprises, the gap between male and female-owned entrepreneurs in terms of perceived growth of their operational units and inadequacy of programs for start-up of micro-enterprises. Comparatively, female-owned micro-enterprises were faced with a myriad of more challenges than male-owned micro-enterprises.
The outputs are particularly useful to support decision makers, and focus on enhancing empowerment and awareness on available support programs to female entrepreneurs for employment creation in specific locations. Keywords : Male-owned micro-enterprise; female-owned micro-enterprises; growth rate; performance; policy support. There are around , SMEs operating in different business sectors in our economy.
The Ministry of Business, Enterprise and Co-operatives of Mauritius launched a 10 year plan in for the Small and Medium Enterprises so as to boost up economic growth and development. The research relies on existing statistics and also makes reference to some of the government and private firms surveys carried out recently for the SME sector.
The main objectives of the research are to link SME growth to macro-economic variables such as economic growth, unemployment and at the same time develop a better understanding of the causes of SME failures in Mauritius. The research also provides a description of the Mauritian entrepreneurial culture based on survey carried out by Mauritius Commercial Bank.
A structured questionnaire was used to collect the data. The study surveyed owners of civil society organisations in South East of Vietnam. The confirm factor analysis and technique of structural equation modeling were used to explore relationships among latent constructs.
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The results show that commercial entrepreneurs and social entrepreneurs have similarities in character, and the personality traits of social entrepreneurs only affect the social entrepreneurial intention through subjective norms. The findings indicate that the entrepreneurship programs should aim to build a sense of social responsibility and the ability to think creatively towards sustainable development. The media should play a key role in raising citizens awareness of social entrepreneurship. This is the first social entrepreneurial intention research which targeted the owners of civil society organisations.
Keywords : social entrepreneurship; theory of planned behaviour; personality trait; social entrepreneurial intention. This paper adopted a mix approach that blends review, synthetization and discussion of existing research to apprehend the use of this concept in the literature and draw useful insights on the extent to which it influences business establishment and performance. Our discussion concluded with the following notes: First, immigrant entrepreneurship researchers have so far favored length of stay over firm age in predicting the entrepreneurial outcomes.
Second, length of stay was used in two different ways: backward and forward. Third, immigrants with short lengths of stay or short settlement intentions tend to have lower propensities for self-employment compared to their peers who have longer settlement intentions, and they are most likely to locate their businesses within their ethnic communities. In contrary, immigrants with long length of stay or long settlement intention are in better positions to understand the mainstream market, more likely to behave like natives, have higher propensities to start a business, and prefer to locate their businesses outside the co-ethnic community.
Keywords : immigrant; host country; length of stay; performance; self-employment. It is focused on a shoemaking, a very conventional craft in the contemporary urban environment. We start with theoretical background and definitions of craft from the standpoints of economics and sociology; then, in order to reveal the impact of industrialisation on manual labour we trace the history and explain the evolution of shoemaking in Russia in the 19th and 20th centuries; next we describe in economic terms how this small business of shoemaking is organised nowadays and how it competes with the mid-size business in St.
Petersburg; in the discussion we present the explanatory models of crafts reproduction in contemporary urban environment. The main idea of this article is to reveal the supporting social structures like labour migration or ethnic communities for sustainable reproduction of craft and manual labour in the post-industrial world. Keywords : craft; shoemakers; post-industrial world; urban labour; comparative research. Researched in Nuenen, the Netherlands, this paper analyses letters of the 19th century and reports observations of modern-day Van Gogh experts as well as Vincentre guides.
In addition 25 students specialising in innovation and entrepreneurship were asked to give their public voice about Van Gogh and if he could be considered as an entrepreneur. Using a questionnaire we asked both expert and non-expert respondents to make a rank order on the aspects of innovativeness HAIRL-model and ten characteristics of entrepreneurship. The findings of this explorative study shows that the innovative and entrepreneurial potential of Van Gogh highly reflect his imagination, creativity and analysing capabilities.
Based on the amount of his drawings, paintings and letters he can also be seen as a hard worker. Taking his financial successes into account we can only say with hindsight that he was artistically far ahead and perhaps not recognized by his audience. Future research might investigate mood analysis in his letters and further explore the characteristics of innovation and entrepreneurship we used in this study.
The field of artistic innovation and entrepreneurship mostly organized in small businesses can be explored in more detail. Keywords : history of art; entrepreneurship; intrapreneurship; innovation; Vincent van Gogh; cultural studies. The research is of survey-descriptive type. The population surveyed includes entrepreneurs, students and young people aged between 25 and 45 years from Plovdiv and the region, i.
Findings: The socio-historical cataclysms resulting from the particular attractiveness of the geostrategic position of the country create a very controversial and variable environment in which the Bulgarian entrepreneurial culture is formed and developed. Analysis of collected data using SPSS software along with sign test, pathway and Exploratory factor analysis indicated that among different dimensions of Bulgarian entrepreneurial culture, the dimension of independence, higher incomes, risk-taking, creativity is in a proper condition, while other dimensions of entrepreneurial culture including boldness, tolerance of creative deviation, underdog aggressiveness, open communication, cooperation, proactive innovation and voice are in an unsuitable condition.
Keywords : entrepreneurship; entrepreneurial culture; Bulgarian entrepreneurs; competitiveness. These spaces have appeared rapidly, catering for the locational needs of self-employed workers, start-ups, and small-size companies. The objective of this paper is to provide an analysis of four categories of collaborative workspaces Accelerators, Incubators, Coworking spaces, and FabLabs. For the case of Amsterdam, we conducted a website content analysis to assess how these spaces position and present themselves towards potential users. The empirical evidence shows that these spaces promise a variety of benefits, ranging from business development to access to social networks.
This diversity illustrates the emergence of distinct work settings in an economic environment characterized by the need to work in a social environment that at the same time stimulates networking and collaboration. Keywords : collaborative workspaces; positioning; collaboration; business benefits; accelerators; incubators; coworking spaces; fablabs.
The management control system of Italian SMEs. This study has a particular focus on the design, implementation and use of a strategy map as a tool to facilitate strategy implementation by measuring a wide range of strategic variables on a long time horizon and integrating economic and financial indicators with non-financial indicators through cause-and-effect links.
This research was conducted through the qualitative method of case studies where theory and empirical research are intertwined. The study shows how the four companies identified the critical success factors to reach success in their businesses. This paper has some theoretical and practical implications, as it contributes to integrating the existing literature on management control systems in family-managed small and medium firms, but the sample has to be enlarged.
Keywords : wine business; SMEs; family; strategy; financial perspective; internal business process perspective; learning and growth perspective. In order to do that, an empirical study is carried out in the Argentine context, based on the information obtained from micro firms. The micro firms are those that have less 10 employees. The results show that human capital measurement by education level, previous experiences, management skills and motivation to set up the company have positive impacts on the performance of micro companies. These results have important economic and social implications that allow governments favour the ecosystem of the micro-enterprices.
Keywords : human capital; micro-enterprices; motivations to start the company; performance. This research tests the effects of a successors social skills on the success of succession in family firms. It extends the studies of Baron and Markman , , who emphasise the role of social skills in the early stages of the venturing process. To bridge this conceptual and empirical gap, a quantitative study was conducted on 77 companies that had experienced at least one succession in their recent history. The results indicate that the dimensions of social skills influence the success of succession in different ways.
The successors self-promotion has a negative effect, whereas his or her social adaptability, social perception, ingratiation, expressiveness, education level, and experience within the family firm have a positive impact. Lastly, this research provides a better understanding of emerging economies in Africa. Keywords : Family business; succession; social skills; successors. Small and Medium Enterprises SMEs in the Indian auto component sector are facing stiff competition from large companies as they could provide products of greater value with lower cost as compared to SMEs.
To meet these challenges, Indian auto component SMEs must implement TQM, which has been recognised as a resource for promoting organisational innovation. This study aims to investigate the effect of contextual factors namely size, age and geographical location of company on TQM implementation in Indian auto component SMEs. Survey methodology was used for data collection from SMEs. Data of SMEs that responded to the survey was taken for analysis. The study provides empirical evidence that a context-dependent argument for TQM implementation does not hold good. Research findings suggest that the extent of TQM implementation in these SMEs is not governed by their distinctive characteristics as suggested by contingency theory but rather by institutional factors as suggested by institutional theory.
This study presents a number of practical implications specifically for public policy and administration in an emerging economy such as India. It is recommended that industry associations must be regarded as valuable public policy motivators in promoting quality implementation in auto component SMEs.
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Using the Scopus database, we analyse papers related to this topic to understand what entrepreneurship means in agriculture, why this topic is growing, and who publishes and where. This paper provides quantitative results that can be useful for scholars, consultants and decision makers. It also provides a qualitative analysis of the topic, showing a structure for the idea of change: agri-entrepreneurship appears as a new paradigm based on the implementation of deliberate strategies to respond to liberalisation and sustainability.
These results are discussed while taking into account the criticism of liberalisation and sustainable concerns. We show that the debates on liberalisation do not question the legitimacy of the agri-entrepreneurship topic but rather question the way farmers undertake it and how entrepreneurship can reinforce the resilience of farms. Keywords : Agriculture; entrepreneurship; farm; literature review; liberalisation; sustainability. Despite all the social hurdles, Indian women entrepreneurs today are lauded for their achievements in their respective industrial arena.
The MSME sector of any economy is the barometer of the overall growth of its diverse population including the women entrepreneurs. Hence to uplift Indias women entrepreneurs through policy initiatives, a proper understanding of the entrepreneurial ability of the women entrepreneurs is of paramount importance. The objective of this study is to explore the factors of women entrepreneurial ability which impacts the successful performance of the women entrepreneurs in MSMEs of Karnataka state.
A theoretical framework model of entrepreneurial ability is developed for the study which is an empirical research based on primary data, collected through questionnaire. The sample size is selected through random sampling method. The research question is tested using Factor Analysis and Pearson correlations. The demographic variables, MSME characteristics and the clustered factors are then tested for significance individually.
Overall the results of this study support the contention; the perceived business performances of women entrepreneurs have a significant influence on their entrepreneurial ability. The study concludes with a discussion of implications and a number of recommendations are discussed. Drawing from the institutional theory, we suggest that the persistence resistance to changes of institutional forces is an important determinant of their effects on investment.
Using a dataset of , firm observations in Vietnam from to , we find that: 1 investment is a U-shaped function of corruption controls; 2 transparency has a positive effect on investment; and 3 leadership proactivity can moderate the adverse effects of corruption and opaqueness in public services. This variety in the association patterns between investment and institutional forces is due to the degree of institutional persistence in local norms of doing business.
Also, we evaluate the mediating roles of the managerial team and the entrepreneurs social network in this relation. Our results are manifold. First, we show that venture creation was not the initial professional choice of most of the entrepreneurs in our sample. Then, we distinguish three classes of entrepreneurs according to their professionalisation process.
Finally, we shed light on the relationships between entrepreneurs motivational trajectories and their acceptance to meet bank requirements Keywords : entrepreneur; loan; debt; motivation; venture creation; managerial team; social network. With regard to the minority of Deaf and hard-of-hearing individuals, the recent literature has elaborated on the beneficial influence of social ties on entrepreneurial behaviour.
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The process of gathering and sharing information includes a variety of facets, including social ties. Derived from the theory of social capital and social identity theory, we expand the concept of social ties to a holistic view of social interaction. Accordingly, we define social interaction as a synergy of general social support, particularly from relatives, and general boundary-spanning. Respective insights are held within a black box being scarcely highlighted.
After applying a two-step methodology based on linear regression models, our results demonstrated that the concept of social interaction has a significant influence on entrepreneurial intentions. Having opened the black box, social interaction among Deaf and hard-of-hearing individuals revealed a strong influence on entrepreneurial intentions, whereas social interaction with hearing individuals lacked significance levels.
Some scholars have studied the entrepreneurial phenomena in the field of handicraft in general, focusing on the motivations, goals and perceptions of success of artisan entrepreneurs. However, studies regarding artisan entrepreneurs and, specifically, their quality of life and well-being have not been sufficiently discussed in this entrepreneurship literature. For that reason, this paper explores the well-being of artisan entrepreneurs and seeks to identify the antecedents of this well-being.
Entrepreneurship training moderates the relationship between resources and entrepreneurial readiness of the participant group a or non-participant group b strengthens or weakens.. Entrepreneurship training moderates the relationship between entrepreneurial ability and entrepreneurial readiness of the participant group a or non-participant group b strengthens or weakens..
The purpose of the study is hypothetical deductive approach. Maximum likelihood estimator is used as the data analysis techniques through structural equation modelling SEM. This technique is used because this study involves large sample size. This method yields estimates that seek to maximise the likelihood that the observed data come from a population consistent with the implied model. This MLE method has an advantage of giving full information that is, all the parameter estimates are evaluated simultaneously Chumney, Table 2 represents the technical details of the study.
The unit of analysis is Individual. The population of USIM is over 10, The sample size is respondents. The sample size for 10, population is samples Aziz, ; Sekaran, The study uses simple random sampling techniques. All the students that participated in the entrepreneurship training are from second year to final year. Questionnaires are randomly distributed to the participant irrespective of the faculty, ages or levels. This programme is a graduation requirement irrespective of the faculty.
These students are trained on business development, organisation behaviour and international standard businesses. Business mentors are invited to encourage and share their experiences on the success and weaknesses of their businesses among the students.
At the end of the programmes, students are encouraged to write feasibility report in order for government to sponsor students with innovative business ideas. The study indicates the differences in the demographics of the respondents ranging from gender, age. The profile of the individual respondent indicates a higher number of females respondents than males representing Majority of the respondents are between 21—23 years old, representing The age between 18—20 years and 24—26 years has Technical details of the research..
This scale was adapted from Keat et al. In this aspect, the study uses Likert-type five-point scale adapted from Keat et al. The predictor variables are separated into two parts. The control variables are analysed based on descriptive analysis.. According to Cohen and Cohen , moderation takes place when the independent variable and the moderating variable have mutual effects on variance of dependent variable than that explained by the direct effect. This moderator variable of this study is measured using Zainudin , chap. In this approach, the direct effect of the constructs was first examined Arbuckle, The moderating effect is examined by dividing the data into two parts.
The constrained and unconstrained paths are tested on each group. The difference in Chi-square value between the constrained and the unconstrained model Zainudin, , chap. If the value differs by more than 3. In order to avoid biasness, the study only compared the standardized regression weight to determine the type of moderation on each constructs..
Since the scale and the variables used in this study have been modified in different perspective, there is need to carry out a confirmatory factor analysis using AMOS This shows the data is normally distributed. As shown in Table 3 , the composite reliability of the constructs ranges from 0. The average variance extracted AVE ranges from 0. The AVE and composite reliability are well above 0. Mean, standard deviation, fitness index and correlation.. In Fig. The factor loading ranges from 0. The fitness index in Figure 2 and Table 3 shows that the level of absolute fit index; Incremental fit Index and Parsimonious fit Index are achieved.
Table 3 represents the mean, standard deviation and correlation result. The correlation of the exogenous variables is well below 0. From Table 3 , the correlation of exogenous variables ranges from 0. This shows that all the data are independent of one another. The mean and standard deviation of the constructs are shown in Table Multi-group measurement model for pool constructs.. From Fig. In order to correct this redundancy, this study chooses to introduce free parameter to correct the problem. After the corrected part, the modification indexes MI are all well below 15 suggested by Zainudin , chap.
The MI ranges from 4. The absolute value of skewness or kurtosis 1. The test of moderating effect of start-up components and entrepreneurial readiness was analysed through AMOS 21 software package Arbuckle, According to Zainudin , chap. Multi-group CFA has been suggested as an appropriate alternatives where the data are divided into two based on the objectives of the study and the path of interest is constraint to 1 Zainudin, , chap.
The divided data are run separately. The result of the constraint and unconstraint model are compared to test whether moderation occur.. These procedures were analysed using maximum likelihood estimator MLE path analysis by evaluating the direct effect, the unconstrained effect and the moderating effect.
The participant group is , while non-participant group is Before engaging into detail analysis, the study tests whether the data are free from multicollinearity problem. Menard stated that VIF values greater than 10 and tolerance value less than 0. The result of multicollinearity of the independent constructs revealed that the variance inflation factor VIF ranging from 1. Considering the direct effects, the results from Table 4 revealed that motivation, opportunity identification, resources are determinant factor of start-up component of new business and can influence entrepreneurial readiness without engaging in training.
These results are used to answer Hypotheses H1—H4. The results thus confirm positive and significant level of hypotheses H1—H3 while H4 is negative and not significantly supported.. Regression result direct effect.. Therefore, as shown in Table 6 , Table 6 represents the result of the moderating analysis of the group. These results are further used to answer Hypotheses H5—H8. This result revealed the role of entrepreneurship training on all the constructs including ability of the participant group. The results thus confirm hypotheses H5a, H6a and H7a and H8a of participant group are strengthened..
Regression result of unconstrained effect.. The results of moderated path analysis.. Considering the moderating effect result of non-participant group. This result revealed the role of entrepreneurship training on all the constructs except motivation. The results thus confirm hypotheses H6b, H7b and H8b are moderated and strengthened while H5b is weakened and not moderated..
In order examine in which group the effect of entrepreneurship training will be highly pronounced. This study compares the standardized regression weight of the participant in entrepreneurship and non-participant in entrepreneurship in Table Standardized regression weights.. From Table 7 , the standardized parameter estimate of motivation is more pronounced in participant group. Those who participated in entrepreneurship training were more pronounced to be highly motivated and ready for new venture creation than those who have not participated in such training activities.
The standardized parameter estimate of the level of opportunity identification is more pronounced in participant group. Those who participated in entrepreneurship training have slight edge in identifying marketable business opportunities than the non-participant group. The results show that the type of moderation is partial moderation since the standardized estimates of both groups are significant..
In addition, the standardized parameter estimate of resources influence on entrepreneurial readiness is more pronounced in non-participant group by In a normal setting, ethically guided business are not influenced by resources but their marketable ideas. The results show that the type of moderation is full moderation since the standardized estimates of participant group are significant and the standardized estimate of non-participant group is not significant.. Those who participated in entrepreneurship training are less likely not to have higher entrepreneurial ability and are less pronounced not to be ready for new venture creation than the non-participant.
The results show that the type of moderation is full moderation since the standardized estimates of both groups are not significant.. The start-up success factor is achieved with the following four constructs. This paper provides empirical support for start-up components. This study addressed the question on whether training moderates the start-up success components and entrepreneurial readiness. This paper represents one of the few empirical analyses of the on-going debate on whether entrepreneurs can be developed.
This study affirmed the fact that opportunity identification, motivation, resources and ability are components of start-up process of new business venture. The findings of this study confirmed that all these four components can influence new business start-up after participating in entrepreneurship programmes.. By support, the results of this study confirmed that entrepreneurship training is a factor that can influence the relationship between ability and entrepreneurial readiness.
For both participant and non-participant in entrepreneurship programmes, this study shows that the moderator is very important. This shows them on how to prepare effective business plan, market and manage their product and also know how to keep proper records of their business activities.. The importance of motivation on entrepreneurial readiness has been evaluated in this study. This study represents part of the few empirical analysis on motivation towards entrepreneurial readiness. The result of the study shows that students that participated in entrepreneurship training are highly motivated and are more pronounced to set up new business.
This paper confirmed that students who did not participate in entrepreneurship training have low motivation. The significant positive moderating effects of entrepreneurship training on opportunity identification and entrepreneurial readiness revealed the important reasons why youth engage in entrepreneurial activities.
Every individual has a certain level of opportunity identification and this can be improved through training. This study shows that ways of identifying opportunity can be mastered if the students show their readiness towards entrepreneurship training. This will help the students on how to exploit the market opportunities.
In the case of influence of resources on entrepreneurial readiness, this study highlighted that the non-participant in entrepreneurship can be influenced by resources. In the world today, where scarcity of resources are very high, ability to manage few resources should be of utmost importance. Therefore, this study shows that those that participated in entrepreneurship training are influenced more by viable ideas than resources.
Using resources as component of new business start-up represents one of the few empirical analysis on resources.. This study has contributed to start-up success components theory as discussions of this theory on entrepreneurial readiness with opportunity identification, motivation; resources and ability are relatively rare in the literature. Most of the previous studies usually concentrated on the intention of individual but the behavioural part are rarely significantly tested.
This study also contributed to theoretical framework with the inclusion of training as a moderator. Even though entrepreneurship training has been used for various purposes, training as a moderator will pave new way for academic body of knowledge.. Previous research has explored several aspects of motivations and resources on new venture start-up. However, motivation and resources have suffered from significant methodological problems that are addressed in this study, making prior findings suggestive rather than conclusive.
This study has also brought richer insights models to the academic body of knowledge through structural equation model used in this study. Most studies have been using ordinary least square OLS through regression approach. Therefore, this study has paved way for academic research on how entrepreneurship training as a moderator can be measured using structured model.. This paper has contributed on how jobs can be created in the economy so that the pressure on public sectors will be reduced.
Acquiring entrepreneurial knowledge will increase the number of managers that can develop new business initiatives. This study justifies the process of creating new business. If more businesses are set-up the unemployment rate in the economy will be reduced. Government should use every university to provide more training programmes and provide field trip to various successful company in relation to the business the students intend to set up before graduating.
The training should be more practical than theoretical. Theories are fundamental but somehow it makes the students feel bored. Business should be fun as it involves money, tactics and success. The training should expose the youth more on new and surrounding issues rather than only referring to text books. The entrepreneurship programmes should be more of real world activities, i.
The programme should always involve ways of starting and sustaining business in the midst of challenges. Many new businesses have failed in the global market due to inability to solve various challenges faced by the firms at their early stage.. More facilities need to be provided for prospective entrepreneurs. The management should allow the students to practicalise and create business from university as part of entrepreneurship project.
This may be done by allowing the students to do innovative business as practical. This will give them an outlook on how the outside world perform business activities. More activities should be added in order to improve their business style. Any business created by the students can serve as way of generating revenue to the university. The training need to be highly focused on what students intends to create in future.. In the process of developing entrepreneurial policy it is very important for the government to consider the following recommendation. The policy of government on entrepreneurship programme should focus more on the prospective young graduate to initiate new business ideas into the market niche rather than limiting the training programme on the existing firms because these firms already possess on-going business activities.
The support and incentives given by the government to prospective entrepreneurs that intend to create new firms should be diversified in order to involve all the sectors in the economy. Too much attention should not be given to the same business ideas in the same sector in order not to saturate the market. Since the world is at a global age, therefore government should try possible best to provide the new prospective firms access to information technology so that these firms will be able to compete both locally and internationally..
Better still government can create a new sector known as entrepreneurship sector to meet immediate need of prospective business starter. The introduction of entrepreneurship sector will pave more ways to the youth. This will cater and concentrate more on how business can be created in the face of economic challenges.. In terms of finance to the prospective entrepreneurs, government and institutions should avoid giving access to credit facilities where the opportunities in the market are limited. Since the prospective entrepreneur are new in the market, institution should assess the viability and risk propensity of the business ideas in order not to put the young entrepreneur in unserviceable debt that should have been avoided.
Banks and other institutions should give grant to young entrepreneurs as a way of supporting the sustainability of the new firms in the market place. The lending institutions should encourage the young entrepreneurs by introducing group based lending such as cooperative society group, clubs or credit and thrift group as an alternative for collateral security in absence of the formal credit security or assets that can be used for loan collaterals. Government should partner with the banks and other lending institutions to provide a programme that will be based on assessing the credit capabilities of the new entrepreneur.
Government can help in terms of providing subsidy to the youth who cannot compete with the existing firms. In order to develop the rural part of the country, government should give more incentives for prospective entrepreneurs that want to create new firms in the community as a form of encouragement in order to entice more entrepreneurs to such location hence there will be economic growth in the economy.. The training programmes should assess the entrepreneurial capacity; discover the inner skills of the prospective entrepreneurs before the young entrepreneurs join the global market.
This will help the entrepreneur in creating a venture that will lead to enterprise development. Also, apart from entrepreneurship training and education acquired from the university, government should invest in regular training of the would-be entrepreneurs after graduation in order for them to have more knowledge of entrepreneurial activity and financial activities such as knowledge of how to prepare cashbook for day to day activities, cash flow statement and balance sheet at the end of the year.
Having these ideas will make them to discover how to manage limited resources and keep sales record up to date because this will be useful for business planning from time to time. The prospective entrepreneurs should be encouraged to form social networking contact since the existing firms already have formal developmental policies that will aid the continuity of their organisation..
In addition, the programme should be based on flexible curriculum and be based on the business ideas the graduates intend to set up in order to make the programme more realistic. Government should proffer solution to the risk propensity involve in setting up business in any location in the community either rural or urban. This will encourage the risk averse graduate to be encouraged to get going because there are facilities in place. Such learning can be fulfilling for graduates that are new in the market place, and can motivate the students to serve as instruments of change towards economic growth.
Also, students should be kept informed and get involved with a larger picture of what each of them intends to achieve is all about and how the achievements can be attained at the university. The main contribution of this research is the development of new model for measuring entrepreneurial readiness towards starting up new business. Their career choice is a major concern for the government due to the fact that there are shortage of job in the economy. Young graduates are current hope of the economy and if they are not properly managed, it may result to brain drain.
Since the students are still young in the market the knowledge acquired is very important for the growth of the economy so that it will result to success side of the coin. This study still calls for more research as every economy aims towards economic growth..
The limitation of this paper is due to inability to use longitudinal study. This study uses quantitative approach to evaluate the qualitative work of Gibb and Ritchie Future research should concentrate on triangulation method where quantitative and qualitative can be examined together in order to get richer insight for the academic body of knowledge. Other university students should be considered in future research in order to improve the generalisation of the study. It is also recommended for the future researchers to evaluate already graduated students in order to test the actual number of students that later established their businesses and their success rate.
In addition, with the global economic situation in the world today, other youths that are currently employed need to be trained and retrained on future business creation since there is high rate of job insecurity. Non-educated students should be trained on how they can become self-reliant based on their capacity. Future research should look into how youth can effectively add towards economic growth through business creation or self-employment.. This can be achieved by inviting successful entrepreneurs to share entrepreneurial knowledge.
The best way to success is to have more sharing session with successful entrepreneurs especially alumni because with their knowledge sharing and challenges, this will pave way and give much ideas on when, what and how to overcome challenges.. ISSN: X. Previous article Next article. Issue 3. Pages September - December More article options. Exploring entrepreneurial readiness of youth and startup success components: Entrepreneurship training as a moderator. Download PDF. Seun Azeez Olugbola.
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This item has received. Under a Creative Commons license. Article information. Show more Show less. Table 1. For individuals interested in the startup process, this study provides information capable of influencing their new business ventures. Entrepreneurial readiness. JEL classification:. Palabras clave:. Emprendedora dispuesta.
Hempel and Fiala supported that there are few research evidences on youth entrepreneurial activities despite huge demand from various sectors in the economy. The minimal role of young people in entrepreneurial activities will likely continue to create concern among stakeholders if effective trainings are not introduced to cater for these concerns. Therefore, the issue of access to resources such as capital and motivation are of a great concern to many youths that are ready to take risk of creating new venture.
This study introduces new way of looking at entrepreneurial readiness through behavioral perspectives using training as a moderator. Theoretical model Human capital theory The theoretical framework of this study is adopted from various studies relating to human capital theory. These quality skills may influence economic growth after engaging in new venture creation. The countries mentioned thus have achieved higher economic growth with higher investment in entrepreneurship education and training.
This view suggests that through knowledge and skills, individuals that are ready and society can be developed through creation of enterprise that will have higher impact on the well-being of the people. Entrepreneurial success components theory Gibb and Ritchie developed the key start-up success components through qualitative method social typology of prospective entrepreneurs.
This theory shows that environmental factors can influence an individual's life towards creating a successful business without having genetic factors towards new business start-up. This is a seminar paper that has not been empirically tested on youth entrepreneurial readiness to the best of my knowledge even though the components have been used in different criteria of entrepreneurship in the past research.
Conceptual framework of entrepreneurial readiness. Past studies on youth entrepreneurship. Table 2. Technical details of the research. Table 3. Mean, standard deviation, fitness index and correlation. Multi-group measurement model for pool constructs. Regression result direct effect. Table 4. Table 5.
Regression result of unconstrained effect.