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2009 창업대전 . 글로벌 기업가정신 조사 Global Entrepreneurship Monitor(GEM) . GEM 소개 GEM 역사 GEM 연구. Min-Seok Cha, Ph.D. Senior Researcher, KAIST CIE Founder, InnovO Initiative Researcher, GEM Korea GEM Korea and Global Entrepreneurship Research Association.

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글로벌 기업가정신 조사 Global Entrepreneurship Monitor(GEM)

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Global entrepreneurship monitor gem l.jpg

2009 창업대전

글로벌 기업가정신 조사Global Entrepreneurship Monitor(GEM)

  • GEM 소개

  • GEM 역사

  • GEM 연구

Min-Seok Cha, Ph.D.

Senior Researcher, KAIST CIE

Founder, InnovO Initiative

Researcher, GEM Korea

GEM Korea and Global Entrepreneurship Research Association


1 gem intro background l.jpg

“Entrepreneurship is important for economic development”

Need for better understanding of the links between entrepreneurship & growth, and the role of policy

Lack of detailed internationally comparable data

1. GEM Intro : Background


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GEM focuses on three main objectives:

To measure ‘differences’ in the level of entrepreneurial activity between countries

To uncover “factors determining” national levels of entrepreneurial activity

To identify “policies that may enhance” national levels of entrepreneurial activity

1. GEM Intro: Purpose

© 2009, by the Global Entrepreneurship Research Association


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Largest study on entrepreneurship in the world

GEM focuses on individuals in the entrepreneurial process

Monitoring entrepreneurship by conducting Adult Population Surveys

Minimum 2,000 per country

Allows exploring several types and phases of the entrepreneurial process

Growing dataset

Over 1,000,000 data points between 2001-2008

Numerous indicators can be extracted

1. What’s GEM: Unique Features


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GEM reports on special topics

Finance

Growth Expectation Entrepreneurship

Female Entrepreneurship

Entrepreneurship Education and Training

Research method also applicable to regions & cities

1. What’s GEM: Unique Features


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GEM was initiated in 1997

Pioneers: Michael Hay (London) and Bill Bygrave (Babson)

Founding institutions: London Business School & Babson College

First GEM report in 1999

Principal Investigator: Paul Reynolds

10 countries in 1999, 31 countries in 2003

GERA established in 2004: consortium of participating national teams

GEM continues to expand, 65 countries involved since 1998

Country micro-sites on www.gemconsortium.org

New global sponsor in 2008

Universidad del Desarollo (Santiago, Chile)

New members and Sponsors in 2009

2. GEM History

© 2009, by Niels Bosma and the Global Entrepreneurship Research Association


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GEM Countries 1999

© 2009, by Niels Bosma and the Global Entrepreneurship Research Association


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GEM Countries 1999-2008

© 2009, by Niels Bosma and the Global Entrepreneurship Research Association

  • 43 countries in 2008

  • More than 50 countries in 2009


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Factor-driven economies

Angola, Bolivia, Bosnia and Herzegovina*, Colombia*, Ecuador*, Egypt, India, Iran*

Efficiency-driven economies

Argentina, Brazil, Chile, Croatia**, Dominican Republic, Hungary**, Jamaica, Latvia, Macedonia, Mexico, Peru, Romania, Russia, Serbia, South Africa, Turkey, Uruguay

Innovation-driven economies

Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Israel, Italy, Japan, Korea Republic, Netherlands, Norway, Slovenia, Spain, United Kingdom, United States

* Transition country: from factor-driven to efficiency-driven

** Transition country: from efficiency-driven to innovation-driven

GEM 2008 Countries


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올해로 11년째, 10th GEM annual report


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Revised GEM Conceptual Model

Integrate with model from Global Competitiveness Report that identifies three phases of economic development.

Consider three dynamic interactive components of entrepreneurship: attitudes, activity and aspirations

Sketch the beginnings of a new Global Entrepreneurship Index

Work in progress by GEM researchers Zoltan Acs & Laszlo Szerb, consistent with revised GEM model

3. GEM Research: Model and Report


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Acs and Szerb (2008) use 32 variables (19 from GEM)

To create 14 indicators forming

Three sub indices that capture

Entrepreneurial activity

Entrepreneurial aspiration

Entrepreneurial attitudes

One ‘super’ index called GEI

For all 64 countries that have participated in the GEM project across the years 2003-2008

The index takes a value from 0 to 1

Global Entrepreneurship Index (GEI)


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The GEI and per capita GDP

© 2009, by Niels Bosma and the Global Entrepreneurship Research Association


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Correlations also positive with

Doing Business Index (World Bank)

Economic Freedom Index (World Heritage Foundation)

Global Competitiveness Index (World Economic Forum)

Relationships mostly non-linear

Support for revised GEM model identifying three major phases of economic development

Results may lead to new insights of how policy can affect productive entrepreneurship through the major phases of economic development

Characteristics and Implications of the GEI

© 2009, by Niels Bosma and the Global Entrepreneurship Research Association


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Relationships with GDP and GCI

© 2009, Global Entrepreneurship Research Association


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Building from the Previous GEM Conceptual Model

  • Basic requirements

  • Institutions

  • Infrastructure

  • Macroeconomic stability

  • Health and primary education

  • General National Framework Conditions

  • Openness (External Trade)

  • Government (Extent, Role)

  • Financial Markets (Efficiency)

  • Technology, R&D (Level, Intensity)

  • Infrastructure (Physical)

  • Management (Skills)

  • Labor Markets (Flexible)

  • Institutions (Unbiased, Rule of Law)

  • Efficiency enhancers

  • Higher education & training

  • Goods market efficiency

  • Labor market efficiency

  • Financial market sophistication

  • Technological readiness

  • Market size

National Economic Growth

(Jobs and

Technical

Innovation)

Social, Cultural,

Political Context

  • Innovation and sophistication factors

  • Business sophistication

  • Innovation

  • Entrepreneurial Framework Conditions

  • Entrepreneurial finance

  • Gov. entrepreneurship programs

  • Entrepreneurship education

  • R&D transfer

  • Commercial, legal infrastructure for entrepreneurship

  • Entry regulation


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The Revised GEM Conceptual Model

  • Basic requirements

  • Institutions

  • Infrastructure

  • Macroeconomic stability

  • Health and primary education

Established Firms

(Primary Economy)

  • Efficiency enhancers

  • Higher education & training

  • Goods market efficiency

  • Labor market efficiency

  • Financial market sophistication

  • Technological readiness

  • Market size

National Economic Growth

(Jobs and

Technical

Innovation)

Social, Cultural,

Political Context

New plants, firm growth

Entrepreneurship

Attitudes:

Perceived opportunities

Perceived capacity

  • Innovation and entrepreneurship

  • Entrepreneurial finance

  • Gov. entrepreneurship programs

  • Entrepreneurship education

  • R&D transfer

  • Commercial, legal infrastructure for entrepreneurship

  • Entry regulation

Activity:

Early-stage

Persistence

Exits

Aspirations:

Growth

Innovation

Social value creation

GEM Adult Population

Surveys (APS)

GEM National Expert

Surveys (NES)


Institutions entrepreneurship and economic development l.jpg

Institutions are critical determinants of economic behavior and they can impose direct and indirect effects on the supply and demand of entrepreneurs

Nexus among entrepreneurship, economic development, and institutions requires critical inquiry

Also to understand why the relative contributions of entrepreneurship can vary significantly across countries and regions

Institutions, Entrepreneurship, and Economic Development


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Entrepreneurial Activity

GEM identifies different phases in the entrepreneurial process

Early-stage entrepreneurial activity (TEA) is the phase centred around the birth of the firm; it includes the pre-startup phase.

Early-stage Entrepreneurial Activity (TEA)

Potential entrepreneur:

knowledge and skills

Nascent entrepreneur:

Involved in setting up a business

Owner-manager of a new business

(up to 3.5 years old)

Owner-manager of an established business (more than 3.5 years old)

Conception

Firm birth

Persistence


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e.g. Early-stage Entrepreneurial Activity and the U-shape Relationship with Economic Development

Decrease in necessity

entrepreneurship

Increase in opportunity

entrepreneurship


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Early-Stage Entrepreneurial Activity 2001-2008

© 2009, by Niels Bosma and the Global Entrepreneurship Research Association

Despite drop in perceptions no drop in early-stage entrepreneurial activity


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GEM: entrepreneurial attitudes, activity, aspirations

Individual level: adult population survey (APS)

Individual approach enables to explore types and phases of entrepreneurship

Expert surveys (NES) provide useful additional information on the conditions of entrepreneurship

Simple and transparent ‘indices’ (prevalence rates)

Research methodology applicable to regions & cities

General global entrepreneurship index can be derived by combining several GEM indices with indices on institutional quality

Concluding


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“Entrepreneurs Defy Negative Sentiment as Global Crisis Grows”

Entrepreneurs may change economic landscape in times of recession

Exciting times for entrepreneurship research…

…how does the recession impact the GEM indices and the newly developed GEI?

For sure 2009 will be an interesting year for GEM!

GEM Concluding


Special research topics l.jpg

Entrepreneurship Education and Training (2008)

Social Entrepreneurship (2009)

Entrepreneurial Network

Innovation Confidence

Global Entrepreneurship Index (GEI)

Comparison with other Index

Special Research Topics


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Three components

Attitudes & Perceptions

Activity

Different phases

Characteristics (demographics, sector structure, motivations, …)

Aspirations

Growth expectation

Innovation

Technology

International orientation

Economic crisis has already influenced attitudes and may especially impact characteristics and aspirations

Appendix: GEM Entrepreneurship ‘Indices’


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Global Entrepreneurship Index (GEI)

Acs and Szerb (2008) use 32 variables (19 from GEM)

To create 14 indicators forming

Three sub indices that capture entrepreneurial attitudes, activity and aspirations

One ‘super’ index called GEI

For all 64 countries that have participated in the GEM project across the years 2003-2008

The index takes a value from 0 to 1

More relevant aspects, more complexity, less transparency

© 2009, by Niels Bosma and the Global Entrepreneurship Research Association


Appendix entrepreneurial attitudes l.jpg

Perceived opportunities to start a business

If respondent perceives good opportunities:

Would fear of failure prevent to start business?

Perceived capabilities to start a business

Intentions: expects to start business in next 3 years

National attitudes perceived by respondent

Entrepreneurship considered as desirable career choice

Lots of media attention for entrepreneurship

Appendix: Entrepreneurial Attitudes

© 2009, by Niels Bosma and the Global Entrepreneurship Research Association


Entrepreneurial aspirations l.jpg

‘High impact’ types of entrepreneurship

Growth expectation: expect 20+ jobs five years from now

Innovation orientation: combination of new product and new market

New technology: active in technology sector (OECD classification)

These types are quite rare

Need larger sample size to be equally precise in estimates

The GEM 2008 report required minimum 6,000 respondents between 18-64 years, in data merged over 2002-2008.

Entrepreneurial Aspirations

© 2009, by Niels Bosma and the Global Entrepreneurship Research Association


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REFERENCE

  • Acs, Z.J. and L. Szerb (2008). Gearing up to Measure Entrepreneurship in a Global Economy. Mimeo, Faculty of Business and Economics, University of Pecs, Hungary.

  •  Bygrave, W.D., with M. Quill (2007). Global Entrepreneurship Monitor Financing Report. London: London Business School and Babson Park, MA: Babson College.

  •  Reynolds, P.D., N.S. Bosma, E. Autio, S. Hunt, N. De Bono, I. Servais, P. Lopez-Garcia and N. Chin (2005). "Global Entrepreneurship Monitor: Data Collection Design and Implementation, 1998-2003," Small Business Economics, 24(3), 205-231.  

  • Niels Bosma. Zoltan Acts, Erkko Autio, Alicia Coduras, Jonathan Levie (2008), Global   Entrepreneurship Monitor, 2008 Executive Report, GERA.

  • BCERC(2009), GEM related Presentations, Babson College, MA: Wellesley.

  • http://www.gemconsortium.org

  • http://www3.babson.edu/ESHIP/research-publications/gem.cfm

  • http://www.gemskorea.org


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