The aim of this study is to explore and elaborate the concept of hybrid entrepreneurship, i.e., a simultaneous mix of self-employment (entrepreneurship) and salary employment. Lazear’s theory of entrepreneurship is assessed in terms whether it can explain the phenomenon of being a hybrid entrepreneur. The hypothesis is that the probability of linking a salary job with one’s own business increases with the variety and level of education gained, the broadness of professional and management experience but also the level of entrepreneurial self-efficacy. The hypotheses are tested with multivariate logistic regression, using survey data gathered from 1600 entrepreneurs. In light of the results, Lazear’s theory cannot be unambiguously extended to the case of hybrid entrepreneurs. Although the probability of being a hybrid entrepreneur increases with broader professional and managerial experience, at the same time it diminishes as the level and diversity of education increase. The results suggest that hybrid entrepreneurs are an importantly discrete population and therefore need to be treated separately. The theoretical and practical implications of the results are discussed.

Prague Economic Papers - impact factor journal of the University of Economics, Prague

In this article we analyze the effectiveness of fiscal policy—for a group of four Central and Eastern European countries. The recent literature shows that fiscal multipliers in the developed economies are higher during recession than expansion. So far, similar empirical analyses have been lacking for CEE countries. The results presented in this article show that fiscal multipliers in CEE countries differ with respect to the phase of the business cycle. Based on the SVAR methodology in which we allow for deterministic regime switching, we show that the government spending multipliers are significantly higher when the output gap is negative.

Thriving entrepreneurship is a necessary condition of long-term sustainability in all modern economies. However, many entrepreneurs-to-be fail to take real actions in their transition from dreamers to doers. In this paper, we demonstrate that there are significant gaps in the current understanding of the important pre-entrepreneurship stages of starting new companies. In particular, these gaps include a proper understanding of moderators such as procrastination, commitment, and acquiring entrepreneurial knowledge from informal and unstructured sources. A promising way to fill these gaps is researching a promising yet little-known group – wantrepreneurs. Our qualitative study of a group of wantrepreneurs who seriously consider becoming entrepreneurs but fail to take any concrete steps allowed us to propose a number of hypotheses in this area and propose an extension of the Entrepreneurial Event Model.

In this article, we apply a proportional hazard model to analyze the determinants of success in a large sample of 1,656 entrepreneurs and former entrepreneurs. We base our research on the theory of entrepreneurship by Edward Lazear, according to which individuals with broad educational and professional experience, in comparison to specialists, are more likely to become entrepreneurs. We extend this theory by verifying whether breadth of education and professional career also contribute to the likelihood of entrepreneurial success. According to our findings, breadth of education not only influences the propensity to start a business but also positively influences the chances of business survival. The breadth of professional experience proved to have a significant impact on business survival, but this result did not hold for extensive managerial experience. JEL CLASSIFICATION: L26, J24.