ENTREPRENEURSHIP – BORN, MADE AND EDUCATED Edited by Thierry Burger-Helmchen           Entrepreneurship – Born, Made and Educated Edited by Thierry Burger-Helmchen Published by InTech Janeza Trdine 9, 51000 Rijeka, Croatia Copyright © 2012 InTech All chapters are Open Access distributed under the Creative Commons Attribution 3.0 license, which allows users to download, copy and build upon published articles even for commercial purposes, as long as the author and publisher are properly credited, which ensures maximum dissemination and a wider impact of our publications. After this work has been published by InTech, authors have the right to republish it, in whole or part, in any publication of which they are the author, and to make other personal use of the work. Any republication, referencing or personal use of the work must explicitly identify the original source. As for readers, this license allows users to download, copy and build upon published chapters even for commercial purposes, as long as the author and publisher are properly credited, which ensures maximum dissemination and a wider impact of our publications. Notice Statements and opinions expressed in the chapters are these of the individual contributors and not necessarily those of the editors or publisher. No responsibility is accepted for the accuracy of information contained in the published chapters. The publisher assumes no responsibility for any damage or injury to persons or property arising out of the use of any materials, instructions, methods or ideas contained in the book. Publishing Process Manager Marina Jozipovic Technical Editor Teodora Smiljanic Cover Designer InTech Design Team First published March, 2012 Printed in Croatia A free online edition of this book is available at www.intechopen.com Additional hard copies can be obtained from orders@intechweb.org Entrepreneurship – Born, Made and Educated, Edited by Thierry Burger-Helmchen p. cm. ISBN 978-953-51-0210-6   Contents  Preface IX Part 1 The Psychology of Entrepreneurship 1 Chapter 1 The Psychology of Entrepreneurship 3 Melek Kalkan and Canani Kaygusuz Chapter 2 Entrepreneurial Intentions: The Role of the Cognitive Variables 27 José C. Sánchez Chapter 3 Do External Factors Influence Students’ Entrepreneurial Inclination? An Evidence Based Approach 51 Ishfaq Ahmed, Muhammad Musarrat Nawaz and Muhammad Ramzan Chapter 4 Reflections on Eco-Preneurship 59 Alan E. Singer Part 2 Academia and Entrepreneurship 75 Chapter 5 The Effect of an Entrepreneurial Training Programme on Entrepreneurial Traits and Intention of Secondary Students 77 Ricardo Gouveia Rodrigues, Anabela Dinis, Arminda do Paço, João Ferreira and Mário Raposo Chapter 6 Academic Entrepreneurship and Financial Problems: The Capital Structure of the University Spin-Offs 93 David Rodeiro, Sara Fernández, Milagros Vivel and María Jesús Rodríguez Chapter 7 Entrepreneurship Education and Pupils' Attitudes Towards Entrepreneurs 113 Vegard Johansen, Tuva Schanke and Tommy Høyvarde Clausen VI Contents Chapter 8 Entrepreneurship, University Research, and Growth: European North vs. South 127 Panagiotis E. Petrakis Chapter 9 Academic Entrepreneurship: What Changes When Scientists Become Academic Entrepreneurs? 159 Igor Prodan and Alenka Slavec Chapter 10 University's Entrepreneurship Education: Creating Meaningful Impression for New Generation 175 Muhammad Nizam Zainuddin Chapter 11 Critical Development Paths of University Spinoff Ventures 199 Philip Bowe and Rory O’Shea Chapter 12 Fostering Entrepreneurship by Developing a New Learning Environment Within a Finnish University of Applied Sciences 225 Pasi Juvonen Part 3 Macro Effects of Entrepreneurship 247 Chapter 13 Entrepreneurship and Economic Growth: Macroeconomic Analysis and Effects of Social Capital in the EU 249 Marta Portela, Emilia Vázquez-Rozas, Isabel Neira and Elvira Viera Chapter 14 Types of Entrepreneurial Action and Societal Provision for the Future: An Inquiry 265 John Brätland Chapter 15 Examining the Bidirectional Relationship Between Entrepreneurship and Economic Growth: Is Entrepreneurship Endogenous? 283 Maribel N. Mojica-Howell, Wesley L. Whittaker, Tesfa G. Gebremedhin and Peter V. Schaeffer Chapter 16 Entrepreneurs’ Resilience Measurement 317 Nor Aishah Buang  Preface  The birth and infancy of entrepreneurship was turned into a specific area of academic study and empirical research quite early. The field greatly evolved, and at the same time, a constant urge to deal with real problems existed, from firm creation to industrial growth, including firm strategy and economic policy. Economic, sociological, and managerial academics began to devise a detailed and interpretative framework for the study of entrepreneurship. Many people came from different fields, and there was a need to overcome the limitation of the standard neoclassical theory of entrepreneurship. New areas of research were embraced, thereby recognizing that powerful mechanisms are at work in entrepreneurship and require systematic analysis. The economics of entrepreneurship Entrepreneurship, in a very broad sense, has always been at the heart of firm and industrial dynamics extoling it's influence at macro level. Starting with the analysis of the specific properties and effects of entrepreneurship as an economic function, researchers then proceeded to the historical and normative analysis of resource allocation mechanisms in the field of entrepreneurship. More generally, they analyzed the socio-economic institutions that could be relied upon to produce, mediate, and favor entrepreneurship. Many authors tried to define Entrepreneurship: “Entrepreneurship is an act of innovation that involves endowing existing resources with new wealth-producing capacity” Drucker (1985) “Entrepreneurship is a process by which individuals pursue and exploit opportunities irrespective to the resources they currently control” Stevenson (1985) “Entrepreneurship is the creation of organizations, the process by which new organizations come into existence“ Gartner (1988) X Preface “Entrepreneurship is a way of thinking, reasoning, and acting that is opportunity drive, holistic in approach, and leadership balanced” Timmons (1997) “Entrepreneurship is about how, by whom, and with what consequences opportunities to bring future goods and services into existence are discovered, created and exploited” Venkataraman (1997) From these definitions, we can see that the academic understanding of entrepreneurship broadened over time. The first dimension of the entrepreneurial space is the continuum between economic approaches oriented towards the origin and context of entrepreneurship, social science approaches, and managerial concerns. Among others, influences can also be found in the education context, or, the institutional context. And finally, researchers raised the question of what happens if we do not take those issues into account? What if we take them for granted and simply state that entrepreneurs do things differently, for whatever the reason, and have ideas in different ways other than economic factors? The following table summarizes these three divisions of research in entrepreneurship. Approaches Classical economic and social context Where Education, development and institutional context Why Managerial context How Description of the entrepreneur, object of the study: The entrepreneur is an important element of macro and local development. The impact can depend on gender, geographical location and social context. Is one a born entrepreneur? Does one become an entrepreneur through a specific education system or a special institutional context? The entrepreneurial process, the detection of opportunities, the development of ideas, creativity, and innovation. The construction of new business models Sectors of interest: Political level (country, region, town level) Educational system, historical studies, political influence Economists involved in theory of the firm, management science . ENTREPRENEURSHIP – BORN, MADE AND EDUCATED Edited by Thierry Burger-Helmchen           Entrepreneurship – Born, Made and Educated Edited by Thierry. subject matter of entrepreneurship at the beginning is closely associated with periodic interest to understand psychological dynamics of human Entrepreneurship – Born, Made and Educated 4. studies aim to understand how to achieve substantial learning mostly in order to see opportunities. It is Entrepreneurship – Born, Made and Educated 6 known that learning and personality are