The establishment of new corporates and farms is an innovation for the formation of new organizations, as well as economic activities contributing to the revitalization and sustainable development of a region. The purpose of this study was to clarify entrepreneurship in agriculture through the analysis of factors that determine new firm formation and business diversification and compare them to whole industries. First, we conducted a fixed effects model analysis using two-point panel data to explain the rate of new firm formation and business diversification in agriculture for each prefecture in Japan. Secondly, we indirectly identified entrepreneurship through measured fixed effects and created a prefecture-level index of entrepreneurship. Thirdly, we explored factors that influence entrepreneurship in agriculture at the regional level based on economic and social statistics and the results of a questionnaire survey on entrepreneurial attitudes. Finally, we derived policy implications that contribute to the promotion of entrepreneurship in agriculture based on the results of the above analyses, and compared them with whole industries. The results of the analysis above of new firm formation and entrepreneurship revealed the following.
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Kiminami et al. (2022) studied this question.
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