Publikationen

This paper contributes to the recent stream of econometric entrepreneurship research by introducing the environmental orientation of new ventures as a key factor for sustainable development. It empirically assesses whether relationships exist between national shares of green entrepreneurial activity (GEA) and economic, social, and environmental development. Theory and first empirical evidence suggest that – compared to conventional new ventures – new green ventures have a more positive economic and social impact and are less harmful or even beneficial to environmental quality. OLS regressions were estimated to empirically test the impact of GEA rates (share of total entrepreneurial activity) on GDP, the modified HDI, and CO₂ emissions. For this purpose, Global Entrepreneurship Monitor data for 11,909 early-stage entrepreneurs was aggregated to the macro-level of 53 countries and merged with further international datasets. The results confirmed that higher shares of GEA are positively related to economic and social development but not to environmental development. Additional tests proved the robustness of the results for different economic development levels, time-lag variations, and different measurements of dependent and independent variables. The identified economic and social importance of GEA warrants intensified policy efforts to support the discovery, creation, and exploitation of green business opportunities. Potential explanations for the counterintuitive non-significant environmental impact are discussed, leading to new research avenues.

This paper merges the literature on green and high-quality entrepreneurship by introducing environmental orientation as an unrecognised characteristic of start-up quality and the three quality dimensions innovativeness, high-growth, and internationalisation. Entrepreneurship literature argues that only highquality start-ups contribute to sustainable development and that a better understanding of what determines the quality of start-ups is required. Empirical research has recently shown that the environmental orientation of start-ups is one such determinant, as it significantly predicts their innovativeness. This paper pursues this novel research avenue on the importance of environmental orientation for start-up quality in two ways. First, this paper evaluates and extends this initial evidence on environmental orientation and innovativeness by examining a three times larger sample, covering additional countries and entrepreneurial stages. Second, this paper also analyses the impact of environmental orientation on the quality dimensions of high-growth and internationalisation. Investigation using Global Entrepreneurship Monitor data on 9,650 entrepreneurs from 51 countries revealed that start-ups with a higher environmental orientation are of superior quality regarding their innovativeness, growth expectations, and exports. These results remain robust for start-ups at different entrepreneurial stages, and tests employing different methodological approaches and variable definitions. However, the categorisation into factordriven, efficiency-driven, and innovation-driven countries showed that greener start-ups are more innovative in countries at all three levels of development, while the relationships with high-growth and internationalisation remained significant for only two of the three categories. The findings of this paper provide a new approach for practitioners to identify the small number of high-quality start-ups and an economic reason warranting intensified efforts to support green start-ups.

This paper presents a systematic review of (a) the impact of entrepreneurship on economic, social and environmental welfare and (b) the factors determining this impact. Research over the past 25 years shows that entrepreneurship is one cause of macroeconomic development, but that the relationship between entrepreneurship and welfare is very complex. The literature emphasizes that the generally positive impact of entrepreneurship depends on a variety of associated determinants which affect the degree of this impact. This paper seeks to contribute to the literature in three ways. First, it updates and extends existing literature reviews with the recently emerged research stream on developing countries, and incorporates studies analysing not only the impact of entrepreneurship on economic growth and welfare but also on social and environmental welfare. Second, it identifies and structures the current knowledge on the determinants of this impact. And third, it provides a roadmap for future research which targets the shortcomings of the existing empirical literature on this topic. The review of 102 publications reveals that the literature generally lacks research which (a) goes beyond the common measures of economic welfare, (b) examines the long-term impact of entrepreneurship and (c) focuses on emerging and developing countries. Regarding the determinants of the impact of entrepreneurship, the results highlight the need for empirical research which addresses both already investigated determinants which require more attention (e.g. survival, internationalisation, qualifications) and those which are currently only suspected of shaping the impact of entrepreneurship (e.g. firm performance, the entrepreneur’s socio-cultural background and motivations).

Despite the significant attention devoted to the impact of corporate greening strategies on firm performance, research has so far focused on established firms, leaving the situation in new firms unclear. In this study, it is hypothesised that the impact of greening strategies on the performance of new firms depends on the type of strategy, and that the firm s age positively moderates this impact. Using a cross-sectoral dataset of 11,039 new firms from 36 countries, binary and ordinal logistic regressions were estimated for different start-up phases. The results indicate that new firms benefit from substantive greening strategies but, contrary to expectations, not from symbolic greening strategies. The performance of new firms in their later start-up phases was even found to be harmed if they adopt symbolic strategies but do not reinforce them with substantive actions (green-washing). No impact, or only a weakly positive impact was found for firms adopting both substantive and symbolic greening strategies (green-highlighting) or only substantive ones (brown-washing). Furthermore, the interaction analyses did not reveal any moderating effects of firm age, but additional investigation shows that the impacts of greening strategies do differ between age groups. Finally, robustness tests reveal that the relationship between substantive greening strategies and the performance of new firms is not linear but decreases with increasing environmental efforts.