Entrepreneurship Quality Index (EQI)

Entrepreneurship Quality Index (EQI)

Author: Nezameddin Faghih

Publisher: Springer Nature

Published: 2021-08-28

Total Pages: 154

ISBN-13: 3030771598

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This book tackles the perplexing problem of how to capture the qualitative differences that exist in entrepreneurship at any given point in time or across time, by presenting a novel qualitative index: Entrepreneurship Quality Index (EQI). This comprehensive composite index is based on recognized interactions among different factors affecting intensity and types of entrepreneurial activity, which in turn is impacting the well-being. It brings qualitative differences in entrepreneurship depending on time and space into calculation of the composite index. Besides, EQI is the missing piece of the entrepreneurship puzzle, and the quality of entrepreneurship is a significant factor that shows why less developed countries do not achieve higher levels of economic growth, despite their high rate of entrepreneurial activities. This book does a masterful job in explaining the diversity of existing perspectives, their contributions, and their shortfalls. It applies rigorous tools of mathematical statistics and quality engineering, such as Bayes’ rule, maximum likelihood estimation, six sigma algorithm, and standardization equation, to derive and introduce EQI, as a novel operations research model. It offers a number of important ideas and insights as to how the quality of entrepreneurship can be measured more accurately. It also illustrates the proposed approaches showing their efficacy across time. The proposed solutions are logical and empirically sound; they represent an important leap in thinking about the quality of entrepreneurship. Its contribution is crucial and timely — one that will be well recognized by researchers worldwide. They give a much-needed framework along with the necessary tools to evaluate and measure entrepreneurial activities.


Book Synopsis Entrepreneurship Quality Index (EQI) by : Nezameddin Faghih

Download or read book Entrepreneurship Quality Index (EQI) written by Nezameddin Faghih and published by Springer Nature. This book was released on 2021-08-28 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book tackles the perplexing problem of how to capture the qualitative differences that exist in entrepreneurship at any given point in time or across time, by presenting a novel qualitative index: Entrepreneurship Quality Index (EQI). This comprehensive composite index is based on recognized interactions among different factors affecting intensity and types of entrepreneurial activity, which in turn is impacting the well-being. It brings qualitative differences in entrepreneurship depending on time and space into calculation of the composite index. Besides, EQI is the missing piece of the entrepreneurship puzzle, and the quality of entrepreneurship is a significant factor that shows why less developed countries do not achieve higher levels of economic growth, despite their high rate of entrepreneurial activities. This book does a masterful job in explaining the diversity of existing perspectives, their contributions, and their shortfalls. It applies rigorous tools of mathematical statistics and quality engineering, such as Bayes’ rule, maximum likelihood estimation, six sigma algorithm, and standardization equation, to derive and introduce EQI, as a novel operations research model. It offers a number of important ideas and insights as to how the quality of entrepreneurship can be measured more accurately. It also illustrates the proposed approaches showing their efficacy across time. The proposed solutions are logical and empirically sound; they represent an important leap in thinking about the quality of entrepreneurship. Its contribution is crucial and timely — one that will be well recognized by researchers worldwide. They give a much-needed framework along with the necessary tools to evaluate and measure entrepreneurial activities.

Digitalization and Management Innovation

Digitalization and Management Innovation

Author: A.J. Tallón-Ballesteros

Publisher: IOS Press

Published: 2023-02-28

Total Pages: 686

ISBN-13: 1643683799

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The digital era has brought about important changes that continue to affect all our lives. Efficient management and storage of digital information has become crucial, as has the ability to access that information quickly and efficiently, and priorities are to allow for the saving of digital data in many different ways, and to avoid the loss of information in the event of a malfunction. This book presents the 65 papers presented at DMI2022, the first in the new annual conference series Digitalization and Management Innovation (DMI), held as a hybrid event in Beijing, China, on 26 November 2022. A total of 190 submissions were received for the conference, and the papers presented here were selected after careful and conscientious review, bearing in mind the breadth and depth of the research topics falling within the scope of digital and management innovation and resulting in an acceptance rate of 34%. Topics covered include digital transformation, supply chains, business models, and block chain, enterprises, banking, and sustainability, as well as policy in artificial intelligence, the gig economy, the post-epidemic era, green supply, citizenship behavior, human resource management, human relationships, agriculture, and environmental matters. Presenting original ideas and results of general significance and supported by clear reasoning, and compelling evidence and methods, the book will be of interest to all those whose work involves the management of digital data.


Book Synopsis Digitalization and Management Innovation by : A.J. Tallón-Ballesteros

Download or read book Digitalization and Management Innovation written by A.J. Tallón-Ballesteros and published by IOS Press. This book was released on 2023-02-28 with total page 686 pages. Available in PDF, EPUB and Kindle. Book excerpt: The digital era has brought about important changes that continue to affect all our lives. Efficient management and storage of digital information has become crucial, as has the ability to access that information quickly and efficiently, and priorities are to allow for the saving of digital data in many different ways, and to avoid the loss of information in the event of a malfunction. This book presents the 65 papers presented at DMI2022, the first in the new annual conference series Digitalization and Management Innovation (DMI), held as a hybrid event in Beijing, China, on 26 November 2022. A total of 190 submissions were received for the conference, and the papers presented here were selected after careful and conscientious review, bearing in mind the breadth and depth of the research topics falling within the scope of digital and management innovation and resulting in an acceptance rate of 34%. Topics covered include digital transformation, supply chains, business models, and block chain, enterprises, banking, and sustainability, as well as policy in artificial intelligence, the gig economy, the post-epidemic era, green supply, citizenship behavior, human resource management, human relationships, agriculture, and environmental matters. Presenting original ideas and results of general significance and supported by clear reasoning, and compelling evidence and methods, the book will be of interest to all those whose work involves the management of digital data.

Measuring Entrepreneurial Businesses

Measuring Entrepreneurial Businesses

Author: John Haltiwanger

Publisher: University of Chicago Press

Published: 2017-09-21

Total Pages: 488

ISBN-13: 022645410X

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Start-ups and other entrepreneurial ventures make a significant contribution to the US economy, particularly in the tech sector, where they comprise some of the largest and most influential companies. Yet for every high-profile, high-growth company like Apple, Facebook, Microsoft, and Google, many more fail. This enormous heterogeneity poses conceptual and measurement challenges for economists concerned with understanding their precise impact on economic growth. Measuring Entrepreneurial Businesses brings together economists and data analysts to discuss the most recent research covering three broad themes. The first chapters isolate high- and low-performing entrepreneurial ventures and analyze their roles in creating jobs and driving innovation and productivity. The next chapters turn the focus on specific challenges entrepreneurs face and how they have varied over time, including over business cycles. The final chapters explore core measurement issues, with a focus on new data projects under development that may improve our understanding of this dynamic part of the economy.


Book Synopsis Measuring Entrepreneurial Businesses by : John Haltiwanger

Download or read book Measuring Entrepreneurial Businesses written by John Haltiwanger and published by University of Chicago Press. This book was released on 2017-09-21 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: Start-ups and other entrepreneurial ventures make a significant contribution to the US economy, particularly in the tech sector, where they comprise some of the largest and most influential companies. Yet for every high-profile, high-growth company like Apple, Facebook, Microsoft, and Google, many more fail. This enormous heterogeneity poses conceptual and measurement challenges for economists concerned with understanding their precise impact on economic growth. Measuring Entrepreneurial Businesses brings together economists and data analysts to discuss the most recent research covering three broad themes. The first chapters isolate high- and low-performing entrepreneurial ventures and analyze their roles in creating jobs and driving innovation and productivity. The next chapters turn the focus on specific challenges entrepreneurs face and how they have varied over time, including over business cycles. The final chapters explore core measurement issues, with a focus on new data projects under development that may improve our understanding of this dynamic part of the economy.

Enabling Innovation Measurement at the Sub-National Level

Enabling Innovation Measurement at the Sub-National Level

Author: World Intellectual Property Organization

Publisher: WIPO

Published: 2024-07-08

Total Pages: 31

ISBN-13:

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Enabling Innovation Measurement at the Sub-National Level is part of the World Intellectual Property Organization’s (WIPO) Intellectual Property (IP) and Innovation Ecosystems Sector (IES) response to supporting member states wishing to develop their own complementary and mutually reinforcing sub-national innovation indices. Drawing on the Global Innovation Index (GII) framework WIPO is proceeding in two ways: 1) organizing workshops on the exchange of best practices, and 2) providing this study on sub-national innovation indices.


Book Synopsis Enabling Innovation Measurement at the Sub-National Level by : World Intellectual Property Organization

Download or read book Enabling Innovation Measurement at the Sub-National Level written by World Intellectual Property Organization and published by WIPO. This book was released on 2024-07-08 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Enabling Innovation Measurement at the Sub-National Level is part of the World Intellectual Property Organization’s (WIPO) Intellectual Property (IP) and Innovation Ecosystems Sector (IES) response to supporting member states wishing to develop their own complementary and mutually reinforcing sub-national innovation indices. Drawing on the Global Innovation Index (GII) framework WIPO is proceeding in two ways: 1) organizing workshops on the exchange of best practices, and 2) providing this study on sub-national innovation indices.

Biopolitics and Shock Economy of COVID-19

Biopolitics and Shock Economy of COVID-19

Author: Nezameddin Faghih

Publisher: Springer Nature

Published: 2023-05-26

Total Pages: 267

ISBN-13: 3031278860

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This edited volume discusses the biopolitics and shock economy of COVID-19, emphasizing medical perspectives and the socioeconomic dynamics of the pandemic and the ensuing institutional responses. Written by an international, multidisciplinary group of academic and professional experts, chapters embrace a wide range of topics such as: medical perspectives on COVID-19; application of geospatial technology; infectivity, immunogenicity, and disease as important factors for adoption of relevant biopolitical measures; shock economy; COVID-19-induced transaction costs; social support and resilience of inhabitants of marginalized areas; business resilience factors; entrepreneurship; and digital transformation. Jointly addressing global examples of biopolitical governance and overarching macroeconomic effects of the pandemic, this volume will be of interest to academics across disciplines as well as policymakers and practitioners on the ground.


Book Synopsis Biopolitics and Shock Economy of COVID-19 by : Nezameddin Faghih

Download or read book Biopolitics and Shock Economy of COVID-19 written by Nezameddin Faghih and published by Springer Nature. This book was released on 2023-05-26 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume discusses the biopolitics and shock economy of COVID-19, emphasizing medical perspectives and the socioeconomic dynamics of the pandemic and the ensuing institutional responses. Written by an international, multidisciplinary group of academic and professional experts, chapters embrace a wide range of topics such as: medical perspectives on COVID-19; application of geospatial technology; infectivity, immunogenicity, and disease as important factors for adoption of relevant biopolitical measures; shock economy; COVID-19-induced transaction costs; social support and resilience of inhabitants of marginalized areas; business resilience factors; entrepreneurship; and digital transformation. Jointly addressing global examples of biopolitical governance and overarching macroeconomic effects of the pandemic, this volume will be of interest to academics across disciplines as well as policymakers and practitioners on the ground.

Nowcasting and Placecasting Entrepreneurial Quality and Performance

Nowcasting and Placecasting Entrepreneurial Quality and Performance

Author: Jorge Guzman

Publisher:

Published: 2015

Total Pages: 0

ISBN-13:

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A central challenge in the measurement of entrepreneurship is accounting for the wide variation in entrepreneurial quality across firms. This paper develops a new approach for estimating entrepreneurial quality by linking the probability of a growth outcome (e.g., achieving an IPO or a significant acquisition) as a function of start-up characteristics observable at or near the time of initial business registration (e.g., the firm name or filing for a trademark/patent). Our approach allows us to characterize entrepreneurial quality at an arbitrary level of geographic granularity (placecasting) and in advance of observing the ultimate growth outcomes associated with any cohort of start-ups (nowcasting). We implement this approach in Massachusetts from 1988-2014, yielding several key findings. First, consistent with Guzman and Stern (2015), we find that a small number of observable start-up characteristics allow us to distinguish the potential for a significant growth outcome: in an out-of-sample test, more than 75% of growth outcomes occur in the top 5% of our estimated quality distribution. Second, we propose two new economic statistics for the measurement of entrepreneurship: the Entrepreneurship Quality Index (EQI) and the Regional Entrepreneurship Cohort Potential Index (RECPI). We use these indices to offer a novel characterization of changes in entrepreneurial quality across space and time. For example, we are able to document changes in entrepreneurial quality leadership between the Route 128 corridor, Cambridge and Boston, as well as more granular assessments that allow us to distinguish variation in average entrepreneurial quality down to the level of individual addresses. Third, we find a high correlation between an index that depends only on information directly observable from business registration records (and so can be calculated on a real-time basis) with an index that allows for a two-year lag that allows the estimate of entrepreneurial quality to incorporate early milestones such as patent or trademark application or being featured in local newspapers. Finally, we find that the most significant "gap" between our index and the realized growth outcomes of a given cohort seem to be closely related to investment cycles: while the most successful cohort of Massachusetts start-ups was founded in 1995, the year 2000 cohort registered the highest estimated quality.


Book Synopsis Nowcasting and Placecasting Entrepreneurial Quality and Performance by : Jorge Guzman

Download or read book Nowcasting and Placecasting Entrepreneurial Quality and Performance written by Jorge Guzman and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A central challenge in the measurement of entrepreneurship is accounting for the wide variation in entrepreneurial quality across firms. This paper develops a new approach for estimating entrepreneurial quality by linking the probability of a growth outcome (e.g., achieving an IPO or a significant acquisition) as a function of start-up characteristics observable at or near the time of initial business registration (e.g., the firm name or filing for a trademark/patent). Our approach allows us to characterize entrepreneurial quality at an arbitrary level of geographic granularity (placecasting) and in advance of observing the ultimate growth outcomes associated with any cohort of start-ups (nowcasting). We implement this approach in Massachusetts from 1988-2014, yielding several key findings. First, consistent with Guzman and Stern (2015), we find that a small number of observable start-up characteristics allow us to distinguish the potential for a significant growth outcome: in an out-of-sample test, more than 75% of growth outcomes occur in the top 5% of our estimated quality distribution. Second, we propose two new economic statistics for the measurement of entrepreneurship: the Entrepreneurship Quality Index (EQI) and the Regional Entrepreneurship Cohort Potential Index (RECPI). We use these indices to offer a novel characterization of changes in entrepreneurial quality across space and time. For example, we are able to document changes in entrepreneurial quality leadership between the Route 128 corridor, Cambridge and Boston, as well as more granular assessments that allow us to distinguish variation in average entrepreneurial quality down to the level of individual addresses. Third, we find a high correlation between an index that depends only on information directly observable from business registration records (and so can be calculated on a real-time basis) with an index that allows for a two-year lag that allows the estimate of entrepreneurial quality to incorporate early milestones such as patent or trademark application or being featured in local newspapers. Finally, we find that the most significant "gap" between our index and the realized growth outcomes of a given cohort seem to be closely related to investment cycles: while the most successful cohort of Massachusetts start-ups was founded in 1995, the year 2000 cohort registered the highest estimated quality.

Studies in Income and Wealth

Studies in Income and Wealth

Author:

Publisher:

Published: 1937

Total Pages: 496

ISBN-13:

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Book Synopsis Studies in Income and Wealth by :

Download or read book Studies in Income and Wealth written by and published by . This book was released on 1937 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Family Business and Regional Development

Family Business and Regional Development

Author: Rodrigo Basco

Publisher: Routledge

Published: 2021-04-07

Total Pages: 280

ISBN-13: 0429608993

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This book explores the relationship between families, firms, and regions and the extent to which these relationships contribute to regional economic and social development. Although family business participation in economic activities has been a common phenomenon since pre-industrial societies, and its importance has evolved throughout time and across spatial contexts, the book suggests that these factors have often been neglected in family business and regional studies. Taking this research gap into account, the book aims to deepen our understanding of the role family firms play in the regional economy. In particular, it explores two seldom studied questions. Firstly, what role do family firms play in regional development? Secondly, how do different spatial regional contexts shape family firm operations and performance? Family Business and Regional Development presents a model of "spatial familiness" and uses themes such as productivity, networks and competitiveness to shed new light on family businesses. Moreover, it approaches the juxtaposition between family business and regional studies to encourage the cross-fertilisation of ideas, theories, and research methods between the two fields. Bringing together leading experts in entrepreneurship, regional economics, and economic geography, this book will be a valuable reading for advanced students, researchers and policymakers interested in family firms, regional studies and economic geography.


Book Synopsis Family Business and Regional Development by : Rodrigo Basco

Download or read book Family Business and Regional Development written by Rodrigo Basco and published by Routledge. This book was released on 2021-04-07 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the relationship between families, firms, and regions and the extent to which these relationships contribute to regional economic and social development. Although family business participation in economic activities has been a common phenomenon since pre-industrial societies, and its importance has evolved throughout time and across spatial contexts, the book suggests that these factors have often been neglected in family business and regional studies. Taking this research gap into account, the book aims to deepen our understanding of the role family firms play in the regional economy. In particular, it explores two seldom studied questions. Firstly, what role do family firms play in regional development? Secondly, how do different spatial regional contexts shape family firm operations and performance? Family Business and Regional Development presents a model of "spatial familiness" and uses themes such as productivity, networks and competitiveness to shed new light on family businesses. Moreover, it approaches the juxtaposition between family business and regional studies to encourage the cross-fertilisation of ideas, theories, and research methods between the two fields. Bringing together leading experts in entrepreneurship, regional economics, and economic geography, this book will be a valuable reading for advanced students, researchers and policymakers interested in family firms, regional studies and economic geography.

Meritocracy, Growth, and Lessons from Italy's Economic Decline

Meritocracy, Growth, and Lessons from Italy's Economic Decline

Author: Lorenzo Codogno

Publisher: Oxford University Press

Published: 2022-09-25

Total Pages: 273

ISBN-13: 019286680X

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This book draws lessons on the importance of meritocracy for economic growth by analysing Italy's economic decline in the past few decades. Connections, rather than merit, are a long-standing feature of the Italian elites, even in the corporate sector. This became a significant problem when Italy's economy could no longer grow due to imitation, devaluation, and public debt, and faced the challenges of becoming a frontier knowledge-based open economy. This book uses international comparisons on social capital, governance, the role of the public sector, efficiency of the judiciary, education, gender and social inequality, social mobility, corporate standards, financial structures, and more to evaluate Italy's economic performance. It argues that the arrogance of mediocracy is more damaging than that of meritocracy. Italy experienced an economic miracle after the Second World War, and it is still an advanced economy and a member of the G7. Until the 1960s it seemed destined to catch up with the best-performing countries. Then the growth engine stopped, its debt skyrocketed, and Italy became a weaker member of the Eurozone. Many other countries in the world have heavy historical legacies and low social capital, and many others have to make the jump from imitation led growth to endogenous growth. The lessons drawn from studying Italy's case can therefore have important international applications.


Book Synopsis Meritocracy, Growth, and Lessons from Italy's Economic Decline by : Lorenzo Codogno

Download or read book Meritocracy, Growth, and Lessons from Italy's Economic Decline written by Lorenzo Codogno and published by Oxford University Press. This book was released on 2022-09-25 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book draws lessons on the importance of meritocracy for economic growth by analysing Italy's economic decline in the past few decades. Connections, rather than merit, are a long-standing feature of the Italian elites, even in the corporate sector. This became a significant problem when Italy's economy could no longer grow due to imitation, devaluation, and public debt, and faced the challenges of becoming a frontier knowledge-based open economy. This book uses international comparisons on social capital, governance, the role of the public sector, efficiency of the judiciary, education, gender and social inequality, social mobility, corporate standards, financial structures, and more to evaluate Italy's economic performance. It argues that the arrogance of mediocracy is more damaging than that of meritocracy. Italy experienced an economic miracle after the Second World War, and it is still an advanced economy and a member of the G7. Until the 1960s it seemed destined to catch up with the best-performing countries. Then the growth engine stopped, its debt skyrocketed, and Italy became a weaker member of the Eurozone. Many other countries in the world have heavy historical legacies and low social capital, and many others have to make the jump from imitation led growth to endogenous growth. The lessons drawn from studying Italy's case can therefore have important international applications.

The State of American Entrepreneurship

The State of American Entrepreneurship

Author: Jorge Arturo Guzman

Publisher:

Published: 2016

Total Pages: 108

ISBN-13:

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While official measures of business dynamism have seen a long-term decline, early-stage venture financing of new companies has reached levels not observed since the late 1990s, resulting in a sharp debate about the state of American entrepreneurship. Building on Guzman and Stern (2015a; 2015b), this paper offers new evidence to inform this debate by estimating measures of entrepreneurial quality based on predictive analytics and comprehensive business registries. Our estimates suggest that the probability of a significant growth outcome (either an IPO or high-value acquisition) is highly skewed and predicted by observables at or near the time of business registration: 69% of realized growth events are in the top 5% of our estimated growth distribution. This high level of skewness motivates the development of three new economic statistics that simultaneously account for both the quantity as well as the quality of entrepreneurship: the Entrepreneurial Quality Index (EQI, measuring the average quality level among a group of start-ups within a given cohort), the Regional Entrepreneurship Cohort Potential Index (RECPI, measuring the growth potential of firms founded within a given region and time period) and the Regional Entrepreneurship Acceleration Index (REAI, measuring the performance of a region over time in realizing the potential of firms founded there). We use these statistics to establish several new findings about the history and state of US entrepreneurship using data for 15 states (covering 51% of the overall US economy) from 1988 through 2014. First, in contrast the secular decline in the aggregate quantity of entrepreneurship observed in series such as the Business Dynamic Statistics (BDS), the growth potential of start-up companies (RECPI relative to GDP) has followed a cyclical pattern that seems sensitive to the capital market environment and overall economic conditions. Second, while the peak value of RECPI is recorded in 2000, the level during the first decade during this century was actually higher than the late 1980s and first half of the 1990s, and also has experienced a sharp upward swing beginning in 2010. Even after controlling for changes in the overall size of the economy, the second highest level of entrepreneurial growth potential is registered in 2014. Third, the likelihood of start-up firms for a given quality level to realize their potential (REAI) declined sharply in the late 1990s, and did not recover through 2008. These findings suggest that divergent assessments of the state of American entrepreneurship can potentially be reconciled by explicitly adopting a quantitative approach to the measurement of entrepreneurial quality.


Book Synopsis The State of American Entrepreneurship by : Jorge Arturo Guzman

Download or read book The State of American Entrepreneurship written by Jorge Arturo Guzman and published by . This book was released on 2016 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: While official measures of business dynamism have seen a long-term decline, early-stage venture financing of new companies has reached levels not observed since the late 1990s, resulting in a sharp debate about the state of American entrepreneurship. Building on Guzman and Stern (2015a; 2015b), this paper offers new evidence to inform this debate by estimating measures of entrepreneurial quality based on predictive analytics and comprehensive business registries. Our estimates suggest that the probability of a significant growth outcome (either an IPO or high-value acquisition) is highly skewed and predicted by observables at or near the time of business registration: 69% of realized growth events are in the top 5% of our estimated growth distribution. This high level of skewness motivates the development of three new economic statistics that simultaneously account for both the quantity as well as the quality of entrepreneurship: the Entrepreneurial Quality Index (EQI, measuring the average quality level among a group of start-ups within a given cohort), the Regional Entrepreneurship Cohort Potential Index (RECPI, measuring the growth potential of firms founded within a given region and time period) and the Regional Entrepreneurship Acceleration Index (REAI, measuring the performance of a region over time in realizing the potential of firms founded there). We use these statistics to establish several new findings about the history and state of US entrepreneurship using data for 15 states (covering 51% of the overall US economy) from 1988 through 2014. First, in contrast the secular decline in the aggregate quantity of entrepreneurship observed in series such as the Business Dynamic Statistics (BDS), the growth potential of start-up companies (RECPI relative to GDP) has followed a cyclical pattern that seems sensitive to the capital market environment and overall economic conditions. Second, while the peak value of RECPI is recorded in 2000, the level during the first decade during this century was actually higher than the late 1980s and first half of the 1990s, and also has experienced a sharp upward swing beginning in 2010. Even after controlling for changes in the overall size of the economy, the second highest level of entrepreneurial growth potential is registered in 2014. Third, the likelihood of start-up firms for a given quality level to realize their potential (REAI) declined sharply in the late 1990s, and did not recover through 2008. These findings suggest that divergent assessments of the state of American entrepreneurship can potentially be reconciled by explicitly adopting a quantitative approach to the measurement of entrepreneurial quality.