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Handbook of Research
on Entrepreneurial
Success and its Impact on
Regional Development
Luísa Carvalho
Universidade Aberta, Portugal & CEFAGE, Universidade de Évora, Portugal
A volume in the Advances in Electronic
Government, Digital Divide, and Regional
Development (AEGDDRD) Book Series
Detailed Table of Contents
Preface..............................................................................................................................................xxvii
Chapter 1
TheFinancialDevelopmentofPortugueseEntrepreneurialBusinesses................................................1
Inna Sousa Paiva, Lusófona University of Humanities and Technology, Portugal
Entrepreneurialfirmscommonlybecomefamilysmallbusinesses.Thisstudyaimstohighlightthe
financialstrategyunderlyingthedevelopmentofsmallerfamilycompanies.Abriefintroductionabout
thedefinitionandroleofthefamilybusinessisfollowedbyareviewofthedebateonthefinancegap
thatputsconstraintsonthesurvivalandlong-termgrowthandprosperityofsmallerprivatelycompanies.
Evidenceisdrawnfromadatabaseofsmallerfirmswithfamilyowner-managersinPortugal,inorder
todeterminetheirattitudestowardsandexperiencesofventurecapitalandfinancingandothercapital
options.Weconcludebydiscussingsometentativepolicyimplicationsforregionaldevelopmentfrom
theperspectiveofownermanagers,serviceprovidersandpolicy-makers.
Chapter 2
InnovationPropensityinKnowledgeIntensiveBusinessServices(KIBS):AComparativeStudy
inPortugueseServiceSector................................................................................................................21
Sandra Pinto, Instituto Politécnico de Setúbal, Portugal
Luísa Cagica Carvalho, Universidade de Évora, Portugal
Sandra Nunes, Instituto Politécnico de Setúbal, Portugal
ThisresearchhasbeendevelopedtoPortugal,howevercharacteristicsandroleofKIBSmayvary
accordingtocultural,geographicalandinstitutionalcharacteristicsofeachcontext.
Chapter 3
TransnationalAccelerationofLocalStartups:Portugal’sBuildingGlobalInnovators(BGI)
Model....................................................................................................................................................43
Luís Carvalho, European Institute for Comparative Urban Research, The Netherlands
Nuno Camacho, Erasmus University Rotterdam, The Netherlands
Gonçalo Amorim, MIT Portugal, Portugal
José Paulo Esperança, BGI – IUL MIT Portugal Accelerator, Portugal
Thischapterexploresthetenetsandthepracticeofatransnationalinitiativetopromotelocalentrepreneurial
growth:theBuildingGlobalInnovators(BGI)model,astartupacceleratorbasedinLisbon(Portugal)and
inCambridge(Massachusetts,USA).WeexaminethepathwaysthroughwhichBGI’sprocessandglobal



networkofexpertshelpedtwosuccessfulPortuguesetechnologystartupsgrowandscaleveryquickly
–MovvoandVeniam.Wecombineliteraturesfromstrategicmanagement,marketingandeconomic
geographytoexploreBGI’stransnationalaccelerationmodel,whichtapsintoglobal“pipelines”and
distantentrepreneurialecosystems,namelyasawaytoaccesstheexpertise,marketopportunitiesand
venturecapitalthatisoftenunavailableinemergentandpolicy-shelteredlocalclusters.Wediscussthe
relevanceofsuchatransnationalaccelerationmodelforhigh-techstartupsinperipheraleconomies.
Chapter 4
ClustersasentrepreneurialecosystemsforCorporateSocialResponsibilityinSMEs........................74
Isabel Sanchez-Hernandez, University of Extremadura, Spain
Theresearchquestioninthischapteriswhetherclustersaregoodentrepreneurialecosystemstoenhance
socialandresponsiblebehaviorinSMEsatregionallevel.WewilladdressinstitutionaleffortsinCorporate
SocialResponsibilitycarriedoutintheAutonomousRegionofExtremadurainSpainascasestudybecause
theregionalgovernment,withtheaimofpromotingbusinesscooperationtoenhancecompetitiveness,
decidedtodevelopaclusteringpolicyforSMEsintheregion.Additionally,since2010theregionhas
developeditsownplanforthepromotionofresponsibilityatregionallevel.Toanswerthequestionwe
havecarriedoutfocusgroupswithrepresentativebusinesses´managersbelongingtotheexistingand
operativeclustersinExtremaduraatthemoment.
Chapter 5
InternationalizationandFinancialPerformance:AsuccesscaseinPortugal.......................................91
Nuno Teixeira, Instituto Politécnico de Setúbal, Portugal
Bruno Rafael, Instituto Politécnico de Setúbal, Portugal
Pedro Pardal, Instituto Politécnico de Setúbal, Portugal
Oneofthemaincharacteristicsofcurrentbusinessenvironmentisrelatedtointernationalization
ofcompaniesandeconomies,wherecompetitorsfromdifferentcountrieswithdiverseculturesand
productionfactors,easilyclashforapositionofsupremacyinthemarkets.Thus,internationalization
turnedthemanagementoforganizationsinamorecomplexact,increasingopportunitiesbutalsothe
risksofthebusiness.Assuch,thispaperaimstoreflectonthemainissuesassociatedwithcompanies’
internationalizationandtheimpactontheirmanagementprocess,inparticularonfinancialperformance.
Inaddition,weintendtoconductacasestudyofaPortuguesecompanyofinformationtechnology
industrythatthroughitsinternationalizationstrategy,managedinlessthanadecade,toincrementthe
turnoverfrom10millionto60millioneuros,becomingoneofthelargestPortuguesegroupsinthe
sectorandaworldwidesuccess.
Chapter 6
PublicPoliciesandPublicProgramswithaRegionalImpactinPromotingEntrepreneurship:The
CaseStudyofGovernmentBackedVentureCapitalSchemesintheUK..........................................124
Yannis Pierrakis, Kingston University, UK
Thischapteraddstothegrowingliteraturefromrecentyearsoninnovationfinance,innovationsystems,
andregionaleconomicpolicy.Althoughtheroleofbusinesshasbeenseenascriticalwithintheregional
innovationsystem,theroleofbusinessfinancingintermediarieshasreceivedconsiderablylessattention
despitetheirrecognisedroleasacentralactorofthesystem.Thischapterfocusesonaninnovationplayer
thatseemstohavebeenneglectedbyscholarstodate,namelytheventurecapitalindustry.Itexamines

theroleofpublicpoliciesinpromotingentrepreneurshipthroughtheUKgovernmentbackedventure
capitalschemes.Itinvestigateswhetherandhowthepublicinterventionshavechangedtheavailability
ofventurecapitalattheUKregionallevel.Italsoelaboratesonthepotentialimplicationsofthepublic
sectors’sdominationinventurecapitalprovisioninseveralUKregions.
Chapter 7
BarrierstoAcademicEntrepreneurshipinKnowledgeBasedSpinoffs:EvidencefromSpanish
ResearchGroups.................................................................................................................................153
Monica Cerdan-Chiscano, Turismo Sant Ignasi, Spain
Antoni Olivé, University Ramon Llull, Spain
Ana Isabel Jimenez-Zarco, Open University of Catalonia, Spain
Joan I Torrent-Sellens, Open University of Catalonia, Spain
Inthischapter,wewilldiscusstheroleofknowledgeasastrategicresourceforcompanies.Universities
focusonknowledgedevelopmentasthemainresultoftheirresearchgroupsactivities;butreallyfew
exploitthisintangibleresourcethroughknowledge-basedspinoffs(KBSOs),givensomeinternalbarriers
thathindertheacademicentrepreneurshipactivity.Inordertoidentifythem,isperformedanexploratory
analysiswithapopulationof130researchgroupsbelongingtosocialscienceandHumanitiesareas
FacultiesofAutonomousUniversityofBarcelona.Theresultsconfirmtheconclusionspresentedin
previousstudiesregardingexistenceoftwotypesofbarrierstoenterprise:structuralandoperational.
Also,itevidencestheexistenceofdifferenttypesofresearchgroups,andhowthesize,researcharea
andprincipalresearcher’sacademicstatusaffectthewaythatbarrierstoacademicentrepreneurshipare
perceived,aswellasbothtransferprocessesandentrepreneurialactivitythataredeveloped.
Chapter 8
TheInfluenceofInstitutionalEnvironmentonQualityPracticesandItsImpactonRegional
Development.......................................................................................................................................168
María Dolores Sánchez-Fernández, University of A Coruña, Spain
Thischapterstudiedtheinstitutionalinfluenceassociatedtoqualitypracticesinhotels.Theaimwas
tointerpretwhetheritwasthenormative,coerciveormimeticpressures(Institutionalpressures)that
influencedthethree,fourandfivestarhotelsinnorthofPortugal.Inordertoaccomplishtheseobjectives
theauthorusedaninvestigationmodelthatconnectsinstitutionalcontextpressureswithqualitypractices
andqualitypracticeswithlegitimacy.TostudyusedtheInstitutionalTheoryastheoreticalreference.
Chapter 9
Intra-EthnicBusinessNetworksintheGurageFootwearIndustryinEthiopia..................................191
Tebarek Lika Megento, Addis Ababa University, Ethiopia
Christian Kesteloot, KU Leuven, Belgium
Drawingoninsightsfromsocialnetworktheory,thesocio-economicandculturaldimensionsofintra-
ethnicbusinessnetworksareexaminedfortheGurage,anethnicgroupinEthiopia.Thisstudyalso
examinestheextentofChineseimpactsonthefootwearindustryofEthiopia.Aqualitativeapproach
basedonin-depthinterviewswasutilizedinordertoassessintra-ethnicbusinessnetworks,whilea

quantitativeapproach,basedonacross-sectionalsurvey,wasemployedtocollectbackgrounddata,to
assesstheimpactofChineseimportsonlocalfootwearproducersandtoidentifypotentialcasesfor
in-depthinterviews.Gurageuseethnicnetworkstomobilizeresourcesandopportunities,whichinturn
contributestotheirsuccessinthebusiness.InresponsetothethreatsofChineseimportsonproduction
activitiesandsocialcapitaloflocalfootwearenterprises,firmsdownsizedorstoppedbusiness,orresorted
tootheralternatives.
Chapter 10
InnovationinLuxuryFashionBusinessesasaMeansfortheRegionalDevelopment......................209
Elisa Giacosa, University of Turin, Italy
Thefocusofthischapteristoprovidescientificevidencetoluxuryfashionbusinessesforcompeting
inacompetitiveglobalmarket,providingforfurtherresearchopportunitiesoftheinnovationstrategy.
Thankstoaqualitativemethod,inthischapteritemergedthattheinnovationstrategymayfocuson
differentelements,suchasproductsandprocessesaccordingtotheframeworkdistinction.Evenifthe
distinctionbetweenproductsandprocessesisnotalwaysclear-cut,ithasseveralimplications.Inthis
chapter,theconnectionbetweenthecompanyanditsterritorypermitsthecreationofsomenetworks
betweenseveralparties,producingaregionaldevelopment:theycouldimprovethecompetitivenessof
thecompany,creatinganincreasedadvantageagainstitscompetitors.
Chapter 11
ThePromotionofEntrepreneurshipinLowDensityRegions:TheCaseoftheAgencyforthe
RegionalDevelopmentofAlentejo(ADRAL)...................................................................................226
Maria da Conceição Rego, Universidade de Évora, Portugal
Maria Raquel Lucas, Universidade de Évora, Portugal
Isabel Vieira, Universidade de Évora, Portugal
Carlos Vieira, Universidade de Évora, Portugal
Inthe1980s,therenewalofacademicinterestinentrepreneurshipasafactorofdevelopmenthighlightedthe
roleofentrepreneursincreatingjobsanddrivinginnovation.Inthenewcentury,fosteringentrepreneurship
becameapublicpolicypriority.InPortugal,thepracticeofcreatingbusinessincubatorshasbeengaining
momentumandvariousinstitutionshavedevelopedbusinessincubationactivities.Thisstudyfocuson
ADRAL-AgênciadeDesenvolvimentoRegionaldoAlentejo,anagencyfortheregionaldevelopment
ofAlentejo,andanalyzeoneofitsinstrumentsforthepromotionofentrepreneurship–thecreationof
businessincubators(alsodesignatedasenterprises’nests)locatedinMarvãoandMontemor-o-Novo.
Thesechapterfocusonthesetwocasesandassessthedistinctiveaspectsofthepartnershipsbetweenthe
developmentagencyandthemunicipalities,andalsothecharacteristicsoftheentrepreneurialprojects
andrespectiveentrepreneurs,aimingatidentifyingthespecificitiesofthisapproachanditssuccess
determinants.

Chapter 12
PublicPoliciesImpactonThirdSectorSocialEnterprisesinUKRegions.......................................250
Chi Maher, St Mary’s University Twickenham, UK
Thischapterprovidesanimportantperspectiveonhowpublicpoliciesimpactonsmallthirdsectorsocial
enterprisesinUKregions.Theresearchemployedamultiplecasestudydesign(Stake,2006;Yin,2009).
ofeightsmalldrugandalcoholthirdsectorsocialenterpriseorganisationsbasedinthreeUKregions
(TheEastMidlands,TheSouthEast(includingLondon)andYorkshireandHumber).Semi-structured
interviewswereconductedwith40operationalmanagers(individualsresponsibleforoverseeingthe
day-to-daymanagementanddeliveryofservices)andeightCEOoftheseorganisationstoascertainhow
governmentpolicyframeworkinfluencestheirservicedevelopmentandmanagerialcareerpaths.The
researchfindingcontributestothefairlylimitedempiricalresearchinvestigatingregionalvariationsof
thirdsectorsocialenterprises.Itadvocatesforchangesingovernmentregionalfundingpolicestohelp
thesocialenterpriseorganisationstodevelopappropriateandeffectivecareermanagementsystems
Chapter 13
HowdoEntrepreneurialEcosystemsInfluenceGrowthandDevelopment?ThecaseoftheSlovak
Republic..............................................................................................................................................271
Katarína Petríková, Matej Bel University, Slovakia
Kamila Borseková, Matej Bel University, Slovakia
Nowadays,stakeholdersfrompublic,privateandnon-profitsectorsactinginvarioustypesofaggregation
interritoriesandaretryingtofindeffectivewaystothedevelopment.Theaimofthechapteristoidentify
andexplainthedifferentformsofentrepreneurialecosystemsaslocalproductionsystems.Andpresent
examplesoffunctioningentrepreneurialecosystemsintheSlovakRepublic.Attheend,followingthe
theoreticalbackgroundandtheresultsofthesecondaryandprimaryresearches,authorsidentifythekey
problemareasthatshouldbeaddressedincollaborationwithstakeholdersinfluencingfutureterritorial
developmentandgrowthoftheSlovakregions.
Chapter 14
TheImpactofEntrepreneurialSustainableUniversitiesinRegionalDevelopment..........................297
Deniz Zaptcioglu Celikdemir, Yasar University, Turkey
Alev Katrinli, Dokuz Eylul University, Turkey
Thechapterpresentstheimpactofentrepreneurialsustainableuniversitiesinregionaldevelopmentby
consideringtheeffectofinstitutionalapproach.Theaimofthechapteristoexplaintheconceptofan
entrepreneurialsustainableuniversitywithininstitutionalapproach.Theentrepreneurialsustainabilityin
highereducationisanalyzedanditsrelationshipwithotherconcepts,suchasethicsandcorporatesocial
responsibility.Highereducationisimportantforsocialandeconomicdevelopment,theirrelationship
withentrepreneurialsustainabilityshouldalsobeexamined.Theentrepreneurialactivitiesofuniversity
anditscontributiontoregionaldevelopmentareemphasized.

Chapter 15
AcademicEntrepreneurshipandKnowledgeTransferNetworks:TranslationProcessand
BoundaryOrganizations.....................................................................................................................318
Hugo Pinto, University of Coimbra, Portugal
Ana Rita Cruz, University Institute of Lisbon, Portugal
Helena de Almeida, University of Algarve, Portugal
ThischapterunderlinescontributionsthatScienceandTechnologyStudies(STS)cangivetotheanalysis
oftheknowledgetransferprocessandacademicentrepreneurship.Thecentralobjectiveofthechapteris
tounderstandthechallengesthatanacademicentrepreneurhastofacetoimplementaninnovativeidea.
Toachievethisgoal,thechapterpresentstwospin-offcasestudiesfromtheAlgarveregion(Portugal).
Thecasestudiespayattentiontoacademicentrepreneurshipinthemedicalfield(F1)andineco-tourism
(E1).Itisgivenattentiontothetranslationphasesandtothenetworkcreation.
Chapter 16
InnovationinExtremadura:OpportunityforCompaniesorObstaclefortheirDevelopment?..........347
Beatriz Corchuelo, University of Extremadura, Spain
Francisco J. Mesías, University of Extremadura, Spain
ThemainobjectiveofthischapteristoanalyzewhicharethebarriersperceivedbyExtremaduranfirms
andhowthesebarriersaffecttheirwillingnesstoperforminnovativeactivitiesortobeinnovativefirms.
Wehaveuseddatacollectedin2013fromanadhocsurvey.Resultsshowthat,firstly,therearedifferences
intheperceptionofthebarriersespeciallyinyoungandexporterfirmsthatdetectmorebarriersalthough
theyhaveastrongwillingnesstoinnovate.Secondly,evenifinnovationisconsideredanessentialsource
ofcompetitiveness,thereisanimportantunwillingnesstoinnovateinnon-innovativefirms.Thisbehaviour
isespeciallyduetobarriersrelatedwithhighcostsandfinancialrestrictionstoinnovate.Thesebarriers
alsoreducethelikelihoodofthefirmstoinnovate.Bothinnovativeandnon-innovativefirmsdetectthe
presenceofbarrierstoinnovationhighlightingtheperceivedlackofsupportfromgovernment.
Chapter 17
EntrepreneurialTourism:TheCreationofBusinessOpportunitiesintheADRIMAGRegion,
Portugal...............................................................................................................................................379
António Carrizo Moreira, University of Aveiro, Portugal
Thechapterpresentsanentrepreneurialperspectivetoruraltourism.Itisbasedontheutilizationof
endogenousresourcesthatexistwithinaruralregion,andleadstoagroupofbusinessopportunitiesrelated
totourism,craftwork,andagriculture,whicharetakenintoaccounttodefinethestrategicobjectivesfor
theADRIMAGregion.Thechapterfollowsaqualitativeapproachtobusinessopportunities.Through
ouranalysis,itwaspossibletocreate,inasimplemanner,agroupofbusinessopportunitiesbasedon
theendogenousresourcesoftheregion.Withthisstudy,weexpecttobringforthanentrepreneurial
perspectivethatwillsustainablyfostertourismdevelopmentwithinruralregions,butwithhighpotential
fortourismattraction.

Chapter 18
DeterminantsofSelf-EmploymentEntry:EvidencefromPortugal...................................................408
Nadia Simoes, Instituto Universitário de Lisboa, Portugal
Sandrina B. Moreira, Instituto Politécnico de Setúbal, Portugal
Nuno Crespo, Instituto Universitário de Lisboa, Portugal
Self-employmentisincreasinglyanattractivelabormarketoptionworldwide.InaEuropeancontext,
Portugaliswell-knownfordisplayingoneofthehighestratesofself-employment.Thisstudyexplores
themaindeterminantsoftheprobabilitytoenterintoself-employmentinPortugal.Wepresentresults
fromabinarylogitmodelusingindividualdatadrawnfromnational-levelstatistics.Ourfindingssuggest
thatindividualsolderthan35,males,married,loweducated,individualswithpreviousexperience,and
headsofhouseholdareexpectedtoenterself-employment.Theempiricalstudyalsorevealsimportant
differencesregardinghouseholds’compositionsanddimensions,currentandformerunemployment
levels,andataregionallevelinPortugueseNUTSII.
Chapter 19
HowSpanishUniversitiesarePromotingEntrepreneurshipthroughYourOwnLinesofTeaching
andResearch?.....................................................................................................................................434
Dolores Gallardo-Vázquez, University of Extremadura, Spain
M. Luisa Pajuelo-Moreno, University of Sevilla, Spain
Twolinesofresearchfocusonthischapter:UniversitySocialResponsibilityandentrepreneurship.
OnceUnivesritiesareawareoftheimportanceofintroducingsociallyresponsibleactions,werefer
totheneedofUniversitiestofosterthecreationofnewbusiness,establishingthebestconditionsfor
entrepreneurs.Inthissense,westudywhatentrepreneurshipmeansandhowitisinitiated.Atthesame
time,wesettheeducationonentrepreneurshipandhowgenderdifferencesconditionthenewcreation
offirms.Someexamplesofpromotingentrepreneurshiparediscussed,fromtheinitialactionsuntilthe
maintainingandgrowingacompanyalreadycreated.Later,chapterconcentratesontheparticularcase
ofSpanishUniversities,offeringalotofactionsforthepromotionofentrepreneurship,likeprojects,
awards,chairs,masters,conferencesandmeeting.Itisalsoimportanttoconsiderthesupportofpublic
administrationandtheroleofcluster.Thechapterfinisheswithsomeconsiderationsaboutspinoff,as
theresultofentrepreneurshipfromtheUniversity.
Chapter 20
TheRegion-of-OriginEffect:ImplicationsforRegionalDevelopmentPolicies................................458
José Manuel García-Gallego, University of Extremadura, Spain
Antonio Chamorro Mera, University of Extremadura, Spain
Themainobjectiveofthischapterwastodeterminethevariablesthatexplainandmoderatetheintention
topurchaseregionalaspecificproduct,inparticular,wine.Someoftheselectedvariablesweredirectly
relatedtoregionaldevelopment.Toachievethatgoal,andbasedontheliteraturereview,authorsdesigned
astructuralmodeltostudytheROOeffectintheSpanishwinemarket.Themodelproposesdirectand
indirecteffectsofthefollowingantecedentvariablesonthepurchaseintention:theregion’simage,the
region’simageasaproducerinthisproductcategory,theperceivedqualityoftheregion’sproducts,and
consumerethnocentrism.Theresultsofthisstudycontributetoguidingdecision-makingonthestrategies
tobeimplementedbyregionalpublicinstitutionsincollaborationwiththewineindustry,bothofthem
responsibleofcreatingvaluefortheregion.