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Publications (10 of 95) Show all publications
Henrekson, M., Johansson, D. & Karlsson, J. (2024). To Be or Not to Be: The Entrepreneur in Neo-Schumpeterian Growth Theory. Entrepreneurship: Theory & Practice, 48(1), 104-140
Open this publication in new window or tab >>To Be or Not to Be: The Entrepreneur in Neo-Schumpeterian Growth Theory
2024 (English)In: Entrepreneurship: Theory & Practice, ISSN 1042-2587, E-ISSN 1540-6520, Vol. 48, no 1, p. 104-140Article in journal (Refereed) Published
Abstract [en]

Based on a review of 700+ peer-reviewed articles since 1990, identified using text mining methodology and supervised machine learning, we analyze how neo-Schumpeterian growth theorists relate to the entrepreneur-centered view of Schumpeter Mark I and the entrepreneurless framework of Schumpeter Mark II. The literature leans heavily toward Schumpeter Mark II; innovation returns are modeled as following an ex ante known probability distribution. By assuming that innovation outcomes are (probabilistically) deterministic, the entrepreneur becomes redundant. Abstracting from genuine uncertainty, implies that central issues regarding the economic function of the entrepreneur are overlooked such as the roles of proprietary resources, skills, and profits.

Place, publisher, year, edition, pages
Sage Publications, 2024
Keywords
creative destruction, economic growth, entrepreneur, innovation, judgment, Knightian uncertainty
National Category
Economics
Identifiers
urn:nbn:se:oru:diva-104337 (URN)10.1177/10422587221141679 (DOI)000922412900001 ()2-s2.0-85147374046 (Scopus ID)
Funder
The Jan Wallander and Tom Hedelius Foundation, P2018-0162Marianne and Marcus Wallenberg Foundation, 2020.0049
Available from: 2023-02-21 Created: 2023-02-21 Last updated: 2024-02-05Bibliographically approved
Elert, N., Johansson, D., Stenkula, M. & Wykman, N. (2023). The evolution of owner-entrepreneurs' taxation: five tax regimes over a 160-year period. Journal of evolutionary economics, 33(2), 517-540
Open this publication in new window or tab >>The evolution of owner-entrepreneurs' taxation: five tax regimes over a 160-year period
2023 (English)In: Journal of evolutionary economics, ISSN 0936-9937, E-ISSN 1432-1386, Vol. 33, no 2, p. 517-540Article in journal (Refereed) Published
Abstract [en]

The institutional literature suggests that long-term tax incentives are crucial for entrepreneurs, but studies on this topic are hampered by problems related to how to define and measure entrepreneurial income. We resolve these problems by drawing on a theoretical definition of the entrepreneur as an owner, which enables us to identify entrepreneurship empirically by means of investments made by active owners of closely held corporations. Using detailed Swedish tax data, we analyze the tax incentives for such owner-entrepreneur investments from 1862 to 2018, thereby highlighting the evolution of a general institutional phenomenon through a long-run, in-depth, country-specific analysis. We calculate the annual marginal effective tax rate (METR) on capital income for investments, distinguishing between average- and top-income entrepreneurs, and between three sources of finance. We identify five tax regimes that indicate substantial differences in institutional quality over time according to the magnitude of the METR and METR differences between average- and top-income entrepreneurs and across sources of finance. Growth-conducive tax incentives shed light on why so many successful entrepreneurial firms were founded in Sweden around 1900, whereas increased taxation helps explain the absence of new large entrepreneurial firms in Sweden after World War II. Improved incentives can be associated with Sweden's recent entrepreneurial renaissance.

Place, publisher, year, edition, pages
Springer, 2023
Keywords
High-impact entrepreneurship, Institutional quality, Marginal effective tax rates, Tax regimes, Tax reforms
National Category
Economics
Identifiers
urn:nbn:se:oru:diva-102393 (URN)10.1007/s00191-022-00798-z (DOI)000882814600001 ()2-s2.0-85141840864 (Scopus ID)
Funder
Örebro UniversityThe Jan Wallander and Tom Hedelius FoundationMarianne and Marcus Wallenberg Foundation
Available from: 2022-11-25 Created: 2022-11-25 Last updated: 2023-11-24Bibliographically approved
Johansson, D. & Karlsson, J. (2022). Information technology and high-impact entrepreneurship. International Journal of Entrepreneurial Venturing, 14(4-5), 449-471
Open this publication in new window or tab >>Information technology and high-impact entrepreneurship
2022 (English)In: International Journal of Entrepreneurial Venturing, ISSN 1742-5360, E-ISSN 1742-5379, Vol. 14, no 4-5, p. 449-471Article in journal (Refereed) Published
Abstract [en]

This article presents a conceptual framework for analyzing the role of information technology in the formation of high-impact entrepreneurship. Entrepreneurial decision-making is contextualized in the setting of competent teams, and where its role in economic growth is modelled as part of a minimum set of actors necessary for the generation of innovative output—so-called collaborative innovation blocs. By departing from a collective of actors, rather than the individual entrepreneur, transactions costs are shown to become central for understanding the antecedents and conditions for high-impact entrepreneurship as core strategic decisions are often based on asymmetric information and bounded rationality. Subsequently, this also implies a central role for information technology in facilitating the processes that precede high-impact entrepreneurship through its ability to bridge or reduce information asymmetries. Based on the presented framework, the development of information technology is hypothesized to particularly favor new entrepreneurs with growth ambitions, new firm entry, and high growth firms by accelerating the creation and allocation of knowledge.  

Place, publisher, year, edition, pages
InderScience Publishers, 2022
Keywords
Collaborative innovation bloc, Creative destruction, Information technology, Entrepreneurship, Transaction costs
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-96512 (URN)10.1504/IJEV.2022.127450 (DOI)000894415000003 ()2-s2.0-85144447175 (Scopus ID)
Available from: 2022-01-17 Created: 2022-01-17 Last updated: 2023-12-08Bibliographically approved
Johansson, D., Karlsson, J. & Malm, A. (2020). Family business: A missing link in economics?. The Journal of Family Business Strategy, 11(1), Article ID 100306.
Open this publication in new window or tab >>Family business: A missing link in economics?
2020 (English)In: The Journal of Family Business Strategy, ISSN 1877-8585, E-ISSN 1877-8593, Vol. 11, no 1, article id 100306Article in journal (Refereed) Published
Abstract [en]

Family firms account for a substantial share of economic activity and deviate from standard economic assumptions on firmbehavior. However, little is known about how these firms are represented in economic theory. This article examines the inclusion of family business in the curricula of economics doctoral programs in the United States and Sweden as well as professors’ and textbook authors’ views and research on family business. Textbooks, articles and course offerings used in doctoral programs are considered to indicate the state of established knowledge in the field. The findings show that family business is not included in the examined curricula. Furthermore, professors and authors do not publish research on family business and generally do not see a need to incorporate it into economic theory. This article concludes that family business is excluded from ‘core’ economic theory due to a lack of paradigmatic pluralism, axiomatic incompatibility, path dependency, institutional bias and data constraints. Lastly, it is speculated that integration of family business theory into standard economic modeling is likely to occur outside prestigious universities due to path dependency in research.

Place, publisher, year, edition, pages
Elsevier, 2020
Keywords
entrepreneurship, family business, family control, family firm, economics, teaching
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-79162 (URN)10.1016/j.jfbs.2019.100306 (DOI)000523660500003 ()2-s2.0-85076568655 (Scopus ID)
Funder
Swedish Agency for Economic and Regional Growth
Available from: 2020-01-14 Created: 2020-04-08 Last updated: 2020-04-20Bibliographically approved
Henrekson, M., Johansson, D. & Stenkula, M. (2020). The Rise and Decline of Industrial Foundations as Controlling Owners of Swedish Listed Firms: The Role of Tax Incentives. Scandinavian Economic History Review, 68(2), 170-191
Open this publication in new window or tab >>The Rise and Decline of Industrial Foundations as Controlling Owners of Swedish Listed Firms: The Role of Tax Incentives
2020 (English)In: Scandinavian Economic History Review, ISSN 0358-5522, E-ISSN 1750-2837, Vol. 68, no 2, p. 170-191Article in journal (Refereed) Published
Abstract [en]

Beginning in the interwar period, industrial foundations became a vehicle for the corporate control of large listed firms in Sweden, but in the 1990s they were replaced by wealthy individuals who either directly own controlling blocks or who own them through holding companies. We study potential explanations for this change and propose two taxation-related candidates: shifts in the relative effective taxation across owner types and the dismantling of the inheritance taxation that prevented the generational transfer of the ownership of large controlling blocks. Our analysis exploits newly computed marginal effective capital income tax rates across capital owners, accounting for all relevant factors, including rules governing tax exemptions. We show that the 1990–91 tax reform, abolition of the wealth tax for controlling owners in 1997, 2003 tax exemption of dividends and capital gains on listed stock for holding companies with a voting or equity share of at least 10 percent, and abolition of the inheritance and gift taxes in 2004 reversed the rules of the game. Recently, control has largely been wielded through direct ownership, and the role of foundations is rapidly declining. These findings point to the importance of tax incentives for the use of foundations as the control vehicles of listed firms.

Place, publisher, year, edition, pages
Taylor & Francis Group, 2020
Keywords
Corporate governance, Entrepreneurship, Family firms, Foundations, Owner-level taxation
National Category
Economics
Identifiers
urn:nbn:se:oru:diva-79158 (URN)10.1080/03585522.2020.1730234 (DOI)000519890800001 ()2-s2.0-85081746384 (Scopus ID)
Funder
Marianne and Marcus Wallenberg FoundationThe Jan Wallander and Tom Hedelius Foundation
Available from: 2020-01-14 Created: 2020-01-14 Last updated: 2021-01-15Bibliographically approved
Johansson, D., Stenkula, M. & Wykman, N. (2020). The Taxation of Industrial Foundations in Sweden (1862–2018). Nordic Tax Journal (1), 1-14
Open this publication in new window or tab >>The Taxation of Industrial Foundations in Sweden (1862–2018)
2020 (English)In: Nordic Tax Journal, E-ISSN 2246-1809, no 1, p. 1-14Article in journal (Refereed) Published
Abstract [en]

It has been argued that the Swedish tax system has favored firm control through industrial foundations, which should have inhibited entrepreneurship and economic growth. However, research has been hampered due to a lack of systematic historical tax data. The purpose of this study is to describe the evolution of tax rules for industrial foundations in Sweden between 1862 and 2018 and to calculate the marginal effective tax rate on capital income (METR). The results show that the METR for an equity financed investment is below 20 percent most of the time and occasionally peak at about 40 percent. Treating the requirement that industrial foundations have to donate the bulk of capital income (less capital gains) to charitable purposes as a tax, the METR seldom is below 50 percent when financing investments with new share issues, and often exceeds 100 percent.

Place, publisher, year, edition, pages
De Gruyter Open, 2020
Keywords
business groups, entrepreneurs, family firms, foundations, taxation
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-82097 (URN)10.1515/ntaxj-2019-0006 (DOI)
Available from: 2020-05-27 Created: 2020-05-27 Last updated: 2023-11-14Bibliographically approved
Henrekson, M., Johansson, D. & Stenkula, M. (2019). The Rise and Decline of Industrial Foundations as Controlling Owners of Swedish Listed Firms: The Role of Tax Incentives. Stockholm: Research Institute of Industrial Economics (IFN)
Open this publication in new window or tab >>The Rise and Decline of Industrial Foundations as Controlling Owners of Swedish Listed Firms: The Role of Tax Incentives
2019 (English)Report (Other academic)
Abstract [en]

Beginning in the interwar period, industrial foundations became a vehicle for the corporate control of large listed firms in Sweden, but in the 1990s they were replaced by wealthy individuals who either directly own controlling blocks or who own them through holding companies. We study potential explanations for this change and propose two taxation-related candidates: shifts in the relative effective taxation across owner types and the dismantling of the inheritance taxation that prevented the generational transfer of the ownership of large controlling blocks. Our analysis exploits newly computed marginal effective capital income tax rates across capital owners, accounting for all relevant factors, including rules governing tax exemptions. We show that the 1990–91 tax reform, abolition of the wealth tax for controlling owners in 1997, 2003 tax exemption of dividends and capital gains on listed stock for holding companies with a voting or equity share of at least 10 percent, and abolition of the inheritance and gift taxes in 2004 reversed the rules of the game. Recently, control has largely been wielded through direct ownership, and the role of foundations is rapidly declining. These findings point to the importance of tax incentives for the use of foundations as the control vehicles of listed firms.

Place, publisher, year, edition, pages
Stockholm: Research Institute of Industrial Economics (IFN), 2019. p. 30
Series
IFN Working Paper ; 1279
Keywords
Corporate governance, Entrepreneurship, Family firms, Foundations, Owner-level taxation
National Category
Economics
Identifiers
urn:nbn:se:oru:diva-80335 (URN)
Note

JEL codes: H20; K34; L26; N44.

Available from: 2020-03-03 Created: 2020-03-03 Last updated: 2020-11-17Bibliographically approved
Daunfeldt, S.-O., Johansson, D. & Seerar Westerberg, H. (2019). Which firms provide jobs for unemployed non-Western immigrants?. Service Industries Journal, 39(9-10), 762-778
Open this publication in new window or tab >>Which firms provide jobs for unemployed non-Western immigrants?
2019 (English)In: Service Industries Journal, ISSN 0264-2069, E-ISSN 1743-9507, Vol. 39, no 9-10, p. 762-778Article in journal (Refereed) Published
Abstract [en]

Although the refugee immigration crisis is one of the major socio-economic challenges in Europe, we still lack knowledge on what characterizes firms that provide jobs for unemployed immigrants. We provide an answer by investigating firms that recruit unemployed non-Western immigrants using matched employer-employee data from Statistics Sweden. We find large industry differences; firms active in the service sectors, such as the hospitality, transport, and healthcare industries, are much more likely to hire unemployed non-Western immigrants than firms in high-tech and manufacturing industries. In addition, after controlling for educational attainment and industry of occupation, firms with at least one non-Western immigrant manager hire more than four times as many unemployed non-Western immigrants than firms without any non-Western immigrant managers. Public policies that target industries might thus also influence job opportunities for immigrants and, thereby, the possibility of their integration into society. 

Place, publisher, year, edition, pages
Routledge, 2019
Keywords
Immigration, labor market, unemployment, networks, segregation, skill-sortin
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-69288 (URN)10.1080/02642069.2018.1534961 (DOI)000469991000007 ()2-s2.0-85055576657 (Scopus ID)
Funder
Swedish Retail and Wholesale Development Council
Available from: 2018-10-04 Created: 2018-10-04 Last updated: 2023-02-21Bibliographically approved
Anyadike-Danes, M., Bjuggren, C. M., Dumont, M., Gottschalk, S., Hölzl, W., Johansson, D., . . . Zheng, G. (2018). An International Comparison of the Contribution to Job Creation by High-growth Firms. Research Institute of Industrial Economics (IFN)
Open this publication in new window or tab >>An International Comparison of the Contribution to Job Creation by High-growth Firms
Show others...
2018 (English)Report (Other academic)
Abstract [en]

This paper addresses three simple questions: how should the contribution of HGFs to job creation be measured? how much does this contribution vary across countries? to what extent does the cross-country variation depend on variation in the proportion of HGFs in the business population? The first is a methodological question which we answer using a more highly articulated version of the standard job creation and destruction accounts. The other two are empirical questions which we answer using a purpose-built dataset assembled from national firm-level sources and covering nine countries, spanning the ten three year periods from 2000/03 to 2009/12. The basic principle governing the development of the accounting framework is the choice of appropriate comparators. Firstly, when measuring contributions to job creation, we should focus on just job creating firms, otherwise we are summing over contributions from firms with positive, zero, and negative job creation numbers. Secondly, because we know growth depends in part on size, the ’natural’ comparison for HGFs is with job creation by similar-sized firms which simply did not grow as fast as HGFs. However, we also show how the measurement framework can be further extended to include, for example, a consistent measure of the contribution of small job creating firms. On the empirical side, we find that the HGF share of job creation by large job creating firms varies across countries by a factor of two, from around one third to two thirds. A relatively small proportion of this cross-country variation is accounted for by variations in the influence of HGFs on job creation. On average HGFs generated between three or four times as many jobs as large non-HGF job creating firms, but this ratio is relatively similar across countries. The bulk of the cross-country variation in HGF contribution to job creation is accounted for by the relative abundance (or rarity) of HGFs. Moreover, we also show that the measurement of abundance depends upon the choice of measurement framework: the ’winner’ of a cross-national HGF ’beauty context’ on one measure will not necessarily be the winner on another.

Place, publisher, year, edition, pages
Research Institute of Industrial Economics (IFN), 2018. p. 32
Series
HUI Working Papers ; 1216
Keywords
High-growth firmsh, firm growth, job creation
National Category
Economics
Identifiers
urn:nbn:se:oru:diva-76037 (URN)
Note

JEL codes: D22; E24; L11; L25; L26; M13

Available from: 2019-09-03 Created: 2019-09-03 Last updated: 2019-09-12Bibliographically approved
Andersson, F., Johansson, D., Karlsson, J., Lodefalk, M. & Poldahl, A. (2018). Female Top Management in Family Firms and Non-family Firms: Evidence from Total Population Data. International Journal of Entrepreneurship and Small Business, 35(3), 303-326
Open this publication in new window or tab >>Female Top Management in Family Firms and Non-family Firms: Evidence from Total Population Data
Show others...
2018 (English)In: International Journal of Entrepreneurship and Small Business, ISSN 1476-1297, E-ISSN 1741-8054, Vol. 35, no 3, p. 303-326Article in journal (Refereed) Published
Abstract [en]

We exploit information on ownership, management and kinship to study the representation of women in top management teams in Swedish family and non-family firms among domiciled limited liability firms over the years 2004 to 2010. The share of female top managers is analysed across listed and non-listed firms as well as across industries. We then estimate the likelihood that a woman is elected into the top management team in family and non-family firms using a probit regression model where we control for firm- and individual-level characteristics, including the gender distribution of the firm and kinship relations to existing board members and firm owners. We find that non-listed family firms are more likely to appoint female top managers, whereas we find no differences among listed firms. Moreover, we find that the gender composition and kinship structures of firms influence the appointment of female top managers.

Place, publisher, year, edition, pages
InderScience Publishers, 2018
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-57683 (URN)10.1504/IJESB.2018.095903 (DOI)2-s2.0-85055855794 (Scopus ID)
Projects
Tillväxthinder i små och medelstora företag
Funder
Swedish Agency for Economic and Regional GrowthThe Jan Wallander and Tom Hedelius Foundation
Available from: 2017-05-16 Created: 2017-05-16 Last updated: 2020-04-08Bibliographically approved
Organisations
Identifiers
ORCID iD: ORCID iD iconorcid.org/0000-0002-5610-8526

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