Characteristics of Entrepreneurs in Newly Created Companies. A Comparative Analysis by Romanian Development Regions

  • Carmen BOGHEAN “Stefan cel Mare” University, Suceava, Romania
  • Mihaela STATE “Stefan cel Mare” University, Suceava, Romania
  • Carmen CHAȘOVSCHI Stefan cel Mare University, Suceava, Romania
  • Carmen NĂSTASE “Stefan cel Mare” University, Suceava
Keywords: Characteristics of entrepreneur; newly created enterprises; development regions.


Back in 1992, Adam and Schwartz have stated that in all Eastern Europe, privatization was fundamental for the transition from plan to market. The transition was supported by the entrepreneurial initiative, that took advantage from a new open economy [1]. The characteristics of the entrepreneur can influence in a major way the business success and development, the well-being of a nation being closely related to the intensity of the entrepreneurial activity. With no doubt, entrepreneurship is vital for the national economy, being an important growth factor and contributing significantly to the long-term prosperity. For the countries in transition, as Romania, the massive loss of jobs after 1990, determined by “the shrinking of the state sector”, was compensated partially by the small business sector that was the “main factor driving economic growth” and absorbed also the ”unemployment”. The purpose of this paper is to analyse whether there are significant differences in the profile of the founders of newly created enterprises (especially the level of education and previous socio-professional category of founder/manager) from developed regions in Romania during 2010-2016 taking into consideration the rural and urban areas. The research methodology is based on a descriptive analysis and application of a correlation coefficient, using the data collected from the Romanian National Institute of Statistics and from the website of the European Commission for the timeframe mentioned above.


[1] Adam B, Schwartz G. Privatization: Reflections on the Eastern European Experience. MOCT-MOST; 1992.
[2] Fenn D. Upstarts: how GenY entrepreneurs are rocking the world of business and 8 ways you can profit from their success. New York: McGraw-Hill; 2010
[3] Chilosi A. Entrepreneurship and Transition. MOCT-MOST 2001; 11: 327–57.
[4] Chașovschi C, Bordeianu O, Clipa D. Entrepreneurial Culture in Transition Economies. The case of Romania and Republic of Moldova. Emergent Market Queries Finance Business 2014; 15: 1507–14. Doi:10.1016/S2212-5671(14)00618-2.
[5] Năstase C, Chasovschi C, Popescu M, Scutariu Al. The Importance of Stakeholders and Policy Influence Enhancing the Innovation in Nature Based Toursim Services. Greece, Austria, Finland and Romanian Case Studies. Eur Res Stud. 2010; XIII:137–48.
[6] Kolstad I, Wiig A. Education and entrepreneurial success. Small Bus Econ 2015; 44: 783–96.
[7] Petrin T. The Potential of Entrepreneurship to Create Income and New Jobs for Rural Women and Families. FAOECA Work. Party Women Agric. Fam. Rural Dev. Prague Czechoslov, Prague; 1990
[8] Petrin T. Is Entrepreneurship Possible in Public Enterprises? Entrep Dev Public Enterp ILO Geneva Int Cent Public Enterp Dev Ctries J Prokopenko Pavlin Eds. 1991: 7–33.
[9] Petrin T. Partnership and Institution Building as Factors in Rural Development, Innsbruck, Austria; 1992.
[10] Petrin T. Entrepreneurship as an economic force in rural development, Herrsching, Germany; 1994
[11] Davidsson P. Determinants of entrepreneurial intentions. vol. 29 (3), PIacenza, Italy; 1995: 62–74.
[12] Welmilla L, Weerakkody WAS, Ediriweera AN. The Impact of Demographic Factors of Entrepreneurs on Development of SMEs in Tourism Industry inSri Lanka, 2011;15 (03): 245–66.
[13] Reynolds PD. Who Starts New Firms? Preliminary Explorations of Firms-in-Gestation. Small Bus Econ; 1997.
[14] Raposo M, do Paco A, Ferreira J. Entrepreneur’s profile: a taxonomy of attributes and motivations of university students. Journal of Small Business and Entrepreneurship Development; 2008.
[15] van der Kuip I, Verheul I. Early development of entrepreneurial qualities: the role of initial education. Int J Entrep Educ. 2004; 2(2): 203–26.
[16] Van Praag M, van Witteloostuijn A, van der Sluis J. Returns for Entrepreneurs versus Employees: The Effect of Education and Personal Control on the Relative Performance of Entrepreneurs vis-a-vis Wage Employees. Tinbergen Inst Discuss Pap. 2009; 111.
[17] Olofinyehun A. O., Adelowo C. M. , Egbetokun A. A. The supply of high-quality entrepreneurs in developing countries: evidence from Nigeria. Sci Public Policy. 2018; 45: 269–82.
[18] Radosevic S. Regional Innovatin Systems in Central and Eastern Europe: Determinats, Organizers and Alignments. Journal of Technological Transfer 2002:87–96.
How to Cite
BOGHEAN, C., STATE, M., CHAȘOVSCHI, C., & NĂSTASE, C. (2018). Characteristics of Entrepreneurs in Newly Created Companies. A Comparative Analysis by Romanian Development Regions. LUMEN Proceedings, 6(1), 134-145.