Public Institutional Environment and Entrepreneurial Value. Theoretical Issues and Efficiency Tests

Abstract

Purpose

The purpose of this chapter is to assess the notion, measurement, and impact of institutional “public value” in an effort to determine its relevance, origin, and implementable government focus to create, maintain, and stimulate national productivity/wealth.

Methodology/approach

A literature review is presented along with the conceptualization of the public value thinking; an empirical analysis (in force of accredited official dataset-information) will test research assumptions.

Findings

The chapter identifies both the main features of “public value” and the possible impacts of public domain on the quality of private institutions and relating markets functioning (financial, labor, goods, technology), through aggregate statistics.

Research limitations/implications

The public value dynamics may be affected variously by the different context factors/cultures characterizing the international economies/years examined. Nonetheless, global statistics/indicators appear as interesting as significant.

Practical implications

The endeavor of this chapter is to invite scholars, administrators, and practitioners to take into consideration the findings and stimulate the government/management of public value (which is more and more entrepreneurial) also for facilitating doing business.

Social implications

This study contributes to shed light on the complex mechanisms of accumulation and diffusion of public value addressing future research on the role of property rights, ethicality, undue influence, institutional efficiency, and security.

Originality/value

The hendiadys “Value” and “Public” has been for several years examined mostly from the normative viewpoint. This chapter moves on to the field of practical assessment of public institutions by adopting an econometric model which points to identify concrete drivers and relating effects on productivity.

Citation

Taliento, M. (2016), "Public Institutional Environment and Entrepreneurial Value. Theoretical Issues and Efficiency Tests", New Perspectives on Research, Policy & Practice in Public Entrepreneurship (Contemporary Issues in Entrepreneurship Research, Vol. 6), Emerald Group Publishing Limited, Leeds, pp. 1-36. https://doi.org/10.1108/S2040-724620160000006001