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The nature of corruption affecting entrepreneurship in transition economies: Some lessons from Montenegro

The nature of corruption affecting entrepreneurship in transition economies: Some lessons from... REFERENCESAcs, Z.J., O’Gorman, C., and Szerb, L. 2007. Could the Irish miracle be repeated in Hungary?, Small Business Economics 28(2):123-142.10.1007/s11187-006-9027-9Acs, Z.J., Desai, S. and Hessels, J. 2008. Entrepreneurship, economic development and institutions. Small Business Economics 31(3): 219-234.10.1007/s11187-008-9135-9Ahlstrom, D. and Bruton, G.D. 2002 An institutional perspective on the role of culture in shaping strategic actions by technology-focused entrepreneurial firms in China. Entrepreneurship Theory Practice 26(4): 53-70.Aidis, R. and Adachi, Y. 2007. Russia: firm entry and survival barriers. Economic Systems 31(4): 391–411.Aidis, R., Estrin, S., and Mickiewicz, T. 2008. Institutions and entrepreneurship development in Russia: a comparative perspective. Journal of Business Venturing 23(6): 656-672.10.1016/j.jbusvent.2008.01.005Andelic, G. Cosic, I. and Dakovic, V. 2010. The impact of globalisation on the insurance and reinsurance market of Eastern Europe. South East European Journal of Economics and Business 5(1) 95-112.Andvig, J.C. and Moene, K.O. 1990. How corruption may corrupt. Journal of Economic Behavior & Organization 13(1): 63-76.10.1016/0167-2681(90)90053-GAnokhin, S. and Schulze, W.S. 2009. Entrepreneurship, innovation and corruption. Journal of Business Venturing 24(5): 465-476.10.1016/j.jbusvent.2008.06.001Basu S., Estrin, S. and Svejnar, J. 2005. Employment determination in enterprises under communism and in transition: evidence from Central Europe. Industrial Labor Relations Review 58(3): 353-369.10.1177/001979390505800303Baumol, W.J. 1990 Entrepreneurship: productive, unproductive and destructive. Journal of Political Economy 98(5): 892-921.Becker, G.S. 1968. Crime and punishment: an economic approach. Journal of Political Economy 76(2): 169-217.10.1086/259394Bobera, D., Lekovic, B. and Berber, N. 2014. Comparative analysis of entrepreneurship barriers: findings from Serbia and Montenegro. Inzinerine Ekonomika-Engineering Economics 25(2):167–176.Broadman, H.G. and Recanatini, F. 2000. Seeds of corruption: do market institutions matter? MOST: Economic Policy in Transitional Economies 11(4):359-392.Bruton, G.D., Ahlstrom, D. and Obloj, K. 2008. Entrepreneurship in emerging economies: where are we today and where should the research go in the future. Entrepreneurship Theory Practice 32(1): 1-14.Bryman, A. 2012. Social Research Methods, 4th edition. Oxford: Oxford University Press.Budak, J. and Rajh, E. 2014. Corruption as an obstacle for doing business in the Western Balkans: a business sector perspective. International Small Business Journal 32(2):140-157.10.1177/0266242613498882Cowen, T. and Coyne, C.J. 2005. Postwar reconstruction: some insights from public choice and institutional economics. Constitutional Political Economy 16(1): 31-48.Chowdhury, F. Audretsch, D.B. and Belitski, M. 2015. Does corruption matter for international entrepreneurship? International Entrepreneurship and Management Journal 11(4): 959-980.DiMaggio, P.J. and Powell, W.W. 1983. The iron cage revisited: institutional isomorphism and collective rationality in organizational fields. American Sociological Review 48(2): 147-160.10.2307/2095101Doern, R. 2009. Investigating barriers to SME growth and development in transition environments: a critique and suggestions for developing the methodology. International Small Business Journal 27(3): 275–305.10.1177/0266242609102275Doern R, and Goss, D. 2014. The role of negative emotions in the social processes of entrepreneurship: power rituals and shame-related appeasement behaviours. Entrepreneurship Theory and Practice 38(4): 863-890.10.1111/etap.12026Efendic, A., Pugh, G. and Adnett, N. 2011. Confidence in formal institutions and reliance on informal institutions in Bosnia and Herzegovina: an empirical investigation using survey data. Economics of Transition 19(3): 521-540.Efendic, A., Mickiewicz, T. and Rebmann, A. 2015. Growth aspiration and social capital: young firms in a post-conflict environment. International Small Business Journal 33(5): 537-561.Estrin, S. and Mickiewicz, T. 2011. Entrepreneurship in transition economies: the role of institutions and generational change. In The dynamics of entrepreneurship, edited by M. Minniti, 181-208. Oxford: Oxford University Press: Oxford.Estrin, S., Korosteleva, J. and Mickiewicz, T. 2013. Which institutions encourage entrepreneurial growth aspirations?. Journal of Business Venturing 28(4): 564-580.10.1016/j.jbusvent.2012.05.001European Commission (2014) Montenegro progress report. https://ec.europa.eu/. (accessed September 2, 2017).European Commission (2016) Montenegro 2016 report. https://ec.europa.eu/. (accessed September 2, 2017).Gerring, J. and Thacker, S.C. 2005. Do neoliberal policies deter political corruption?. International Organization 59(1): 233-254.Goel, R.K. and Nelon, M.A. 2005. Economic freedom versus political freedom: cross-country influences on corruption. Austrian Economic Papers 44(2):121-133.10.1111/j.1467-8454.2005.00253.xGuseva, A. 2007. Friends and foes: informal networks in the Soviet Union. East European Quarterly 41(1): 2-9.Hellman, J.S. and Kaufmann, D. 2001. Confronting the challenges of state capture in transition economies. Finance and Development Quarterly 38(3). http://www.imf.org/external/pubs/ft/fandd/2001/09/hellman.htm. (accessed September 2, 2017).Hendricks, V.M. and Blanken, P. 1992. Snowball Sampling: Theoretical and Practical Considerations. In Snowball sampling: A pilot study on cocaine use. Edited by V.M. Hendricks. Rotterdam: IVO.Henrekson, M. 2007. Entrepreneurship and institutions. Comparative Labor Law and Policy Journal 28(4): 717–742.Heritage Foundation. 2017. 2017 Index of Economic Freedom. The Heritage Foundation: Washington, DC.Hudson, J., Williams, C.C., Orviska, M. and Nadin, S. (2012) Evaluating the impact of the informal economy on businesses in South East Europe: Some lessons from the 2009 World Bank Enterprise Survey, South East European Journal of Economics and Business, 7(1) 99-110Hunt, J. and Laszlo, S. 2012. Is bribery really regressive? Bribery’s costs, benefits, and mechanisms. World Development 40(2): 355-372.10.1016/j.worlddev.2011.06.001Imami, D. (2012) Corruption, licensing and elections – a new analysis framework. South East European Journal of Economics and Business 7(1) 93-97.Jack, S.L. and Anderson, A.R. 2002. The effects of embeddedness on the entrepreneurial process. Journal of Business Venturing 17(5): 467–487.10.1016/S0883-9026(01)00076-3Koman, M., Lakićević, M., Prašnikar, J. and Svejnar, J. 2015. Asset stripping and firm survival in mass privatization: testing the Hoff-Stiglitz and Campos-Giovannoni models in Montenegro. Journal of Comparative Economics 43(2): 274-289.Krasniqi, B.A. and Mustafa, M. 2016. Small firm growth in a post-conflict environment: The role of human capital, institutional quality, and managerial capacities. International Entrepreneurship and Management Journal 12(4) 165-1207.Ledeneva, A. 1998. Russia’s economy of favors: blat, networking and informal exchange. Cambridge: Cambridge University Press.Luo, Y. 2005. An organizational perspective of corruption. Management and Organization Review 1(1):119-154Luo, Y. and Junkunc, M. 2008. How private enterprises respond to government bureaucracy in emerging economies: the effects of entrepreneurial type and governance. Strategic Entrepreneurship Journal 2(2):133-153.Manolova, T.S. and Yan, A. 2002. Institutional constraints and strategic responses of new and small firms in a transforming economy: the case of Bulgaria. International Small Business Journal 20(2): 163-184.10.1177/0266242602202003Manolova, T.S., Eunni, R.V. and Gyoshev, B.S. 2008. Institutional environments for entrepreneurship: evidence from emerging economies in Eastern Europe. Entrepreneurship Theory and Practice 32(1): 203-218.10.1111/j.1540-6520.2007.00222.xMontenegrin Employers Federation (MEF) 2016. Report: corruption in Montenegro – the enabling environment for sustainable enterprises in Montenegro. Podgorica: Montenegrin Employers Federation.Montinola, G.R. and Jackman, R.W. 2002. Sources of corruption: a cross-country study. British Journal of Political Science 32(1):147-17010.1017/S0007123402000066North, D.C. 1990. Institutions, institutional change, and economic performance. Cambridge: Cambridge University Press.Paldam, M. 2002. The cross-country pattern of corruption: economics, culture and the seesaw dynamics. European Journal Political Economy 18(2): 215-240.10.1016/S0176-2680(02)00078-2Pejovich, S. 1999. The effects of the interaction of formal and informal institutions on social stability and economic development. Journal of Markets and Morality 2(2):164-181Pinto, R. 2005. Challenges for public policy in promoting entrepreneurship in south eastern Europe. Local Economy 20(1): 111-117.Puffer, S.M., McCarthy, D.J. and Boisot, M. 2010. Entrepreneurship in Russia and China: the impact of formal institutional voids. Entrepreneurship Theory and Practice 34(3):441-467.10.1111/j.1540-6520.2009.00353.xRam, M. Theodorakopoulos, N. and Jones, T. 2008. Forms of capital, mixed embeddedness and Somali enterprise. Work, Employment and Society 22(3): 427-446.10.1177/0950017008093479Rose-Ackerman, S. 2001. Trust and honesty in post-socialist societies. Kyklos 54(2-3): 415-443.10.1111/1467-6435.00161Round, J. and Williams, C.C. 2010. Coping with the social costs of ‘transition’: everyday life in post-Soviet Russia and Ukraine. European Urban and Regional Studies 17(2): 183-196.10.1177/0969776409356158Scott, S. 2007. The community morphology of skilled migration: the changing role of voluntary and community organisations (VCOs) in the grounding of British migrant identities in Paris (France). Geoforum 38(4): 655-676.10.1016/j.geoforum.2006.11.015Shleifer, A. and Vishny, R.W. 1993. Corruption. Quarterly Journal of Economics 108(3): 599-617.Silverman, D. 2000. Doing Qualitative Research. London: Sage.Smallbone, D. and Welter, F. 2001. The distinctiveness of entrepreneurship in transition economies. Small Business Economics 16(4): 249-262.10.1023/A:1011159216578Spicer, A. 2009. The normalization of corrupt business practices: implications for Integrative Social Contracts Theory (ISCT). Journal of Business Ethics 88(4):833-840.10.1007/s10551-009-0319-2Swamy, A., Knack, S., Lee, Y. and Azfar, O. 2000. Gender and corruption. Journal of Development Economics 64(1):25-55Tonoyan, V., Strohmeyer, R., Habib, M. and Perlitz, M. 2010. Corruption and entrepreneurship: how formal and informal institutions shape small firm behavior in transition and mature market economies. Entrepreneurship Theory and Practice 34(5):803-831.10.1111/j.1540-6520.2010.00394.xTransparency International. 2016. Corruption Perceptions Index 2016. Transparency International: BerlinTreisman, D. 2000. The causes of corruption: a cross-national study. Journal of Public Economics 76(3): 399-457.10.1016/S0047-2727(99)00092-4US Department of State (2016) Country reports on human rights practices for 2016: Montenegro. https://www.state.gov/documents/organization/265666.pdf. (accessed September 2, 2017)Uzelac, S. 2003. Corruption in transition countries: “how to capture a state” – the example of Montenegro. South-East Europe Review for Labour and Social Affairs 6(1/2):103-116.Vorley, T. and Williams, N. 2016. Between petty corruption and criminal extortion: how entrepreneurs in Bulgaria and Romania operate within a devil’s circle. International Small Business Journal 34(6):797-817.10.1177/0266242615590464Welter, F. 2011. Contextualising entrepreneurship: conceptual challenges and ways forward. Entrepreneurship Theory and Practice 35(1): 165-184.10.1111/j.1540-6520.2010.00427.xWelter, F. and Smallbone, D. 2011. Institutional perspectives on entrepreneurial behavior in challenging environments. Journal of Small Business Management 49(1): 107-125.10.1111/j.1540-627X.2010.00317.xWilliams, C.C., Franic, J. and Dzhekova, R. 2015. Explaining the undeclared economy in Bularia: An institutional asymmetry perspective. South East European Journal of Economics and Business 9(2): 33-45.Williams, C.C. and Yang, J. 2017. Evaluating the use of personal networks to circumvent formal processes: A case study of vruzki in Bulgaria. South East European Journal of Economics and Business 12(1): 57-67.Williams, N. and Vorley, T. 2015. Institutional asymmetry: how formal and informal institutions affect entrepreneurship in Bulgaria. International Small Business Journal 33(8): 840-861Williams, N. and Vorley, T. 2017. Fostering productive entrepreneurship in post-conflict economies: The importance of institutional alignment. Entrepreneurship and Regional Development, online first, DOI: 10.1080/08985626.2017.129785310.1080/08985626.2017.1297853World Bank (2000) Anticorruption in transition: a contribution to the policy debate. http://documents.worldbank.org/curated/en/home. (accessed September 2, 2017).World Bank. 2017. Doing business 2017: equal opportunities for all. World Bank: Washington, DCWorld Economic Forum. 2016. The global competitiveness report 2016-2017. World Economic Forum: Geneva, SwitzerlandXheneti, M., Smallbone, D. and Welter, F. 2012. EU enlargement effects on cross-border informal entrepreneurial activities. European Urban and Regional Studies 20(3): 314-328.10.1177/0969776411434849 http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png South East European Journal of Economics and Business de Gruyter

The nature of corruption affecting entrepreneurship in transition economies: Some lessons from Montenegro

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REFERENCESAcs, Z.J., O’Gorman, C., and Szerb, L. 2007. Could the Irish miracle be repeated in Hungary?, Small Business Economics 28(2):123-142.10.1007/s11187-006-9027-9Acs, Z.J., Desai, S. and Hessels, J. 2008. Entrepreneurship, economic development and institutions. Small Business Economics 31(3): 219-234.10.1007/s11187-008-9135-9Ahlstrom, D. and Bruton, G.D. 2002 An institutional perspective on the role of culture in shaping strategic actions by technology-focused entrepreneurial firms in China. Entrepreneurship Theory Practice 26(4): 53-70.Aidis, R. and Adachi, Y. 2007. Russia: firm entry and survival barriers. Economic Systems 31(4): 391–411.Aidis, R., Estrin, S., and Mickiewicz, T. 2008. Institutions and entrepreneurship development in Russia: a comparative perspective. Journal of Business Venturing 23(6): 656-672.10.1016/j.jbusvent.2008.01.005Andelic, G. Cosic, I. and Dakovic, V. 2010. The impact of globalisation on the insurance and reinsurance market of Eastern Europe. South East European Journal of Economics and Business 5(1) 95-112.Andvig, J.C. and Moene, K.O. 1990. How corruption may corrupt. Journal of Economic Behavior & Organization 13(1): 63-76.10.1016/0167-2681(90)90053-GAnokhin, S. and Schulze, W.S. 2009. Entrepreneurship, innovation and corruption. Journal of Business Venturing 24(5): 465-476.10.1016/j.jbusvent.2008.06.001Basu S., Estrin, S. and Svejnar, J. 2005. Employment determination in enterprises under communism and in transition: evidence from Central Europe. Industrial Labor Relations Review 58(3): 353-369.10.1177/001979390505800303Baumol, W.J. 1990 Entrepreneurship: productive, unproductive and destructive. Journal of Political Economy 98(5): 892-921.Becker, G.S. 1968. Crime and punishment: an economic approach. Journal of Political Economy 76(2): 169-217.10.1086/259394Bobera, D., Lekovic, B. and Berber, N. 2014. Comparative analysis of entrepreneurship barriers: findings from Serbia and Montenegro. Inzinerine Ekonomika-Engineering Economics 25(2):167–176.Broadman, H.G. and Recanatini, F. 2000. Seeds of corruption: do market institutions matter? MOST: Economic Policy in Transitional Economies 11(4):359-392.Bruton, G.D., Ahlstrom, D. and Obloj, K. 2008. Entrepreneurship in emerging economies: where are we today and where should the research go in the future. Entrepreneurship Theory Practice 32(1): 1-14.Bryman, A. 2012. Social Research Methods, 4th edition. Oxford: Oxford University Press.Budak, J. and Rajh, E. 2014. Corruption as an obstacle for doing business in the Western Balkans: a business sector perspective. International Small Business Journal 32(2):140-157.10.1177/0266242613498882Cowen, T. and Coyne, C.J. 2005. Postwar reconstruction: some insights from public choice and institutional economics. Constitutional Political Economy 16(1): 31-48.Chowdhury, F. Audretsch, D.B. and Belitski, M. 2015. Does corruption matter for international entrepreneurship? International Entrepreneurship and Management Journal 11(4): 959-980.DiMaggio, P.J. and Powell, W.W. 1983. The iron cage revisited: institutional isomorphism and collective rationality in organizational fields. American Sociological Review 48(2): 147-160.10.2307/2095101Doern, R. 2009. Investigating barriers to SME growth and development in transition environments: a critique and suggestions for developing the methodology. International Small Business Journal 27(3): 275–305.10.1177/0266242609102275Doern R, and Goss, D. 2014. The role of negative emotions in the social processes of entrepreneurship: power rituals and shame-related appeasement behaviours. Entrepreneurship Theory and Practice 38(4): 863-890.10.1111/etap.12026Efendic, A., Pugh, G. and Adnett, N. 2011. Confidence in formal institutions and reliance on informal institutions in Bosnia and Herzegovina: an empirical investigation using survey data. Economics of Transition 19(3): 521-540.Efendic, A., Mickiewicz, T. and Rebmann, A. 2015. Growth aspiration and social capital: young firms in a post-conflict environment. International Small Business Journal 33(5): 537-561.Estrin, S. and Mickiewicz, T. 2011. Entrepreneurship in transition economies: the role of institutions and generational change. In The dynamics of entrepreneurship, edited by M. Minniti, 181-208. Oxford: Oxford University Press: Oxford.Estrin, S., Korosteleva, J. and Mickiewicz, T. 2013. Which institutions encourage entrepreneurial growth aspirations?. Journal of Business Venturing 28(4): 564-580.10.1016/j.jbusvent.2012.05.001European Commission (2014) Montenegro progress report. https://ec.europa.eu/. (accessed September 2, 2017).European Commission (2016) Montenegro 2016 report. https://ec.europa.eu/. (accessed September 2, 2017).Gerring, J. and Thacker, S.C. 2005. Do neoliberal policies deter political corruption?. International Organization 59(1): 233-254.Goel, R.K. and Nelon, M.A. 2005. Economic freedom versus political freedom: cross-country influences on corruption. Austrian Economic Papers 44(2):121-133.10.1111/j.1467-8454.2005.00253.xGuseva, A. 2007. Friends and foes: informal networks in the Soviet Union. East European Quarterly 41(1): 2-9.Hellman, J.S. and Kaufmann, D. 2001. Confronting the challenges of state capture in transition economies. Finance and Development Quarterly 38(3). http://www.imf.org/external/pubs/ft/fandd/2001/09/hellman.htm. (accessed September 2, 2017).Hendricks, V.M. and Blanken, P. 1992. Snowball Sampling: Theoretical and Practical Considerations. In Snowball sampling: A pilot study on cocaine use. Edited by V.M. Hendricks. Rotterdam: IVO.Henrekson, M. 2007. Entrepreneurship and institutions. Comparative Labor Law and Policy Journal 28(4): 717–742.Heritage Foundation. 2017. 2017 Index of Economic Freedom. The Heritage Foundation: Washington, DC.Hudson, J., Williams, C.C., Orviska, M. and Nadin, S. (2012) Evaluating the impact of the informal economy on businesses in South East Europe: Some lessons from the 2009 World Bank Enterprise Survey, South East European Journal of Economics and Business, 7(1) 99-110Hunt, J. and Laszlo, S. 2012. Is bribery really regressive? Bribery’s costs, benefits, and mechanisms. World Development 40(2): 355-372.10.1016/j.worlddev.2011.06.001Imami, D. (2012) Corruption, licensing and elections – a new analysis framework. South East European Journal of Economics and Business 7(1) 93-97.Jack, S.L. and Anderson, A.R. 2002. The effects of embeddedness on the entrepreneurial process. Journal of Business Venturing 17(5): 467–487.10.1016/S0883-9026(01)00076-3Koman, M., Lakićević, M., Prašnikar, J. and Svejnar, J. 2015. Asset stripping and firm survival in mass privatization: testing the Hoff-Stiglitz and Campos-Giovannoni models in Montenegro. Journal of Comparative Economics 43(2): 274-289.Krasniqi, B.A. and Mustafa, M. 2016. Small firm growth in a post-conflict environment: The role of human capital, institutional quality, and managerial capacities. International Entrepreneurship and Management Journal 12(4) 165-1207.Ledeneva, A. 1998. Russia’s economy of favors: blat, networking and informal exchange. Cambridge: Cambridge University Press.Luo, Y. 2005. An organizational perspective of corruption. Management and Organization Review 1(1):119-154Luo, Y. and Junkunc, M. 2008. How private enterprises respond to government bureaucracy in emerging economies: the effects of entrepreneurial type and governance. Strategic Entrepreneurship Journal 2(2):133-153.Manolova, T.S. and Yan, A. 2002. Institutional constraints and strategic responses of new and small firms in a transforming economy: the case of Bulgaria. International Small Business Journal 20(2): 163-184.10.1177/0266242602202003Manolova, T.S., Eunni, R.V. and Gyoshev, B.S. 2008. Institutional environments for entrepreneurship: evidence from emerging economies in Eastern Europe. Entrepreneurship Theory and Practice 32(1): 203-218.10.1111/j.1540-6520.2007.00222.xMontenegrin Employers Federation (MEF) 2016. Report: corruption in Montenegro – the enabling environment for sustainable enterprises in Montenegro. Podgorica: Montenegrin Employers Federation.Montinola, G.R. and Jackman, R.W. 2002. Sources of corruption: a cross-country study. British Journal of Political Science 32(1):147-17010.1017/S0007123402000066North, D.C. 1990. Institutions, institutional change, and economic performance. Cambridge: Cambridge University Press.Paldam, M. 2002. The cross-country pattern of corruption: economics, culture and the seesaw dynamics. European Journal Political Economy 18(2): 215-240.10.1016/S0176-2680(02)00078-2Pejovich, S. 1999. The effects of the interaction of formal and informal institutions on social stability and economic development. Journal of Markets and Morality 2(2):164-181Pinto, R. 2005. Challenges for public policy in promoting entrepreneurship in south eastern Europe. Local Economy 20(1): 111-117.Puffer, S.M., McCarthy, D.J. and Boisot, M. 2010. Entrepreneurship in Russia and China: the impact of formal institutional voids. Entrepreneurship Theory and Practice 34(3):441-467.10.1111/j.1540-6520.2009.00353.xRam, M. Theodorakopoulos, N. and Jones, T. 2008. Forms of capital, mixed embeddedness and Somali enterprise. Work, Employment and Society 22(3): 427-446.10.1177/0950017008093479Rose-Ackerman, S. 2001. Trust and honesty in post-socialist societies. Kyklos 54(2-3): 415-443.10.1111/1467-6435.00161Round, J. and Williams, C.C. 2010. Coping with the social costs of ‘transition’: everyday life in post-Soviet Russia and Ukraine. European Urban and Regional Studies 17(2): 183-196.10.1177/0969776409356158Scott, S. 2007. The community morphology of skilled migration: the changing role of voluntary and community organisations (VCOs) in the grounding of British migrant identities in Paris (France). Geoforum 38(4): 655-676.10.1016/j.geoforum.2006.11.015Shleifer, A. and Vishny, R.W. 1993. Corruption. Quarterly Journal of Economics 108(3): 599-617.Silverman, D. 2000. Doing Qualitative Research. London: Sage.Smallbone, D. and Welter, F. 2001. The distinctiveness of entrepreneurship in transition economies. Small Business Economics 16(4): 249-262.10.1023/A:1011159216578Spicer, A. 2009. The normalization of corrupt business practices: implications for Integrative Social Contracts Theory (ISCT). Journal of Business Ethics 88(4):833-840.10.1007/s10551-009-0319-2Swamy, A., Knack, S., Lee, Y. and Azfar, O. 2000. Gender and corruption. Journal of Development Economics 64(1):25-55Tonoyan, V., Strohmeyer, R., Habib, M. and Perlitz, M. 2010. Corruption and entrepreneurship: how formal and informal institutions shape small firm behavior in transition and mature market economies. Entrepreneurship Theory and Practice 34(5):803-831.10.1111/j.1540-6520.2010.00394.xTransparency International. 2016. Corruption Perceptions Index 2016. Transparency International: BerlinTreisman, D. 2000. The causes of corruption: a cross-national study. Journal of Public Economics 76(3): 399-457.10.1016/S0047-2727(99)00092-4US Department of State (2016) Country reports on human rights practices for 2016: Montenegro. https://www.state.gov/documents/organization/265666.pdf. (accessed September 2, 2017)Uzelac, S. 2003. Corruption in transition countries: “how to capture a state” – the example of Montenegro. South-East Europe Review for Labour and Social Affairs 6(1/2):103-116.Vorley, T. and Williams, N. 2016. Between petty corruption and criminal extortion: how entrepreneurs in Bulgaria and Romania operate within a devil’s circle. International Small Business Journal 34(6):797-817.10.1177/0266242615590464Welter, F. 2011. Contextualising entrepreneurship: conceptual challenges and ways forward. Entrepreneurship Theory and Practice 35(1): 165-184.10.1111/j.1540-6520.2010.00427.xWelter, F. and Smallbone, D. 2011. Institutional perspectives on entrepreneurial behavior in challenging environments. Journal of Small Business Management 49(1): 107-125.10.1111/j.1540-627X.2010.00317.xWilliams, C.C., Franic, J. and Dzhekova, R. 2015. Explaining the undeclared economy in Bularia: An institutional asymmetry perspective. South East European Journal of Economics and Business 9(2): 33-45.Williams, C.C. and Yang, J. 2017. Evaluating the use of personal networks to circumvent formal processes: A case study of vruzki in Bulgaria. South East European Journal of Economics and Business 12(1): 57-67.Williams, N. and Vorley, T. 2015. Institutional asymmetry: how formal and informal institutions affect entrepreneurship in Bulgaria. International Small Business Journal 33(8): 840-861Williams, N. and Vorley, T. 2017. Fostering productive entrepreneurship in post-conflict economies: The importance of institutional alignment. Entrepreneurship and Regional Development, online first, DOI: 10.1080/08985626.2017.129785310.1080/08985626.2017.1297853World Bank (2000) Anticorruption in transition: a contribution to the policy debate. http://documents.worldbank.org/curated/en/home. (accessed September 2, 2017).World Bank. 2017. Doing business 2017: equal opportunities for all. World Bank: Washington, DCWorld Economic Forum. 2016. The global competitiveness report 2016-2017. World Economic Forum: Geneva, SwitzerlandXheneti, M., Smallbone, D. and Welter, F. 2012. EU enlargement effects on cross-border informal entrepreneurial activities. European Urban and Regional Studies 20(3): 314-328.10.1177/0969776411434849

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South East European Journal of Economics and Business – de Gruyter

Published: Dec 1, 2017

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