This study examines entrepreneurs and new ventures in a transition economy, Hungary, and identifies what variables distinguish between Hungarian entrepreneurs and their new ventures in the pre-1988 transition period from that which followed. The variables that discriminate most strongly are their business strategies. The newer firms had a concentration strategy while the older firms had a new product development strategy. Other variables that discriminated between the groups include reacting to the political environment, satisfaction with firm performance, encouragement from investors, recent investment in building improvement, and family history of entrepreneurship. The newer entrepreneurs had more family role models of entrepreneurship.
Lyles, M. A., Baird, I. S., and Orris, J. B. Entrepreneurship in a Transition Economy: An Examination of Venture Creation in Hungary. Journal of Enterprising Culture, March 1995, Vol. 3, No. 1, 59-83.