THE ROLE OF SOCIAL INSTITUTIONS IN THE ACTIVITY OF ENTREPRENEURS IN THE CONSTRUCTION SECTOR

Sergey Oparin (), Nikolay Chepachenko () and Marina Yudenkо ()
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Sergey Oparin: Economics and management in the construction Petersburg State Transport University Emperor Alexander I, Saint-Petersburg, Russia
Nikolay Chepachenko: Department of Economics and management in construction Petersburg State Transport University Emperor Alexander I, Saint-Petersburg, Russia
Marina Yudenkо: Department of Economics and management in construction Petersburg State Transport University Emperor Alexander I, Saint-Petersburg, Russia

CBU International Conference Proceedings, 2017, vol. 5, issue 0, 337-342

Abstract: This paper reports on a study of the methodological principles and roles of social institutions in controlling business activities. The level of their administrative interference in business activities is analyzed, particularly regarding administrative barriers restricting business in the construction sector. The study concludes that social institutions, on the one hand, reduce economic risks of entrepreneurship and encourage the fulfilling of formal norms. However, on the other hand, they perform a restrictive function, increasing entrepreneurs’ transactional costs. The paper provides examples of informal norms that restrict entrepreneurial activity in the construction field, with a conclusion about non-systemic business support measures.

Keywords: economic riskentrepreneurship; social institutions; construction. (search for similar items in EconPapers)
JEL-codes: B M21 M48 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:aad:iseicj:v:5:y:2017:i:0:p:337-342

DOI: 10.12955/cbup.v5.948

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