THE IMPACT OF ENTREPRENEURIAL CAPITAL OF THE REGION ON SMALL BUSINESS ACTIVITIES
Yu.S. Pinkovetskaya
Ulyanovsk State University, Ulyanovsk, Russian Federation
Keywords: производственная функция, малые предприятия, микропредприятия, инвестиции в основной капитал, заработная плата, предпринимательский капитал, production function, small businesses, micro businesses, capital investment, wage, entrepreneurial capital
Abstract
The aim of the research is the estimation of three-factor production functions, describing the dependence of the total turnover of small businesses and micro businesses on the wages of their staff, capital investment and existing regional entrepreneurial capital. The research was based on the official statistical information regarding 80 regions of Russia for 2015. High quality approximation of initial data using three-factor production functions was proved. The new tools offered for the estimation of production functions are of scientific and practical importance.
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