Exploring country-level institutional arrangements on the rate and type of entrepreneurial activity

This study introduces a novel multidimensional measure of the entrepreneurial environment that reveals how differences in institutional arrangements influence both the rate and the type of entrepreneurial activity in a country. Drawing from institutional theory, the measure examines the regulatory,...

Full description

Saved in:
Bibliographic Details
Published in:Journal of business venturing 2013-01, Vol.28 (1), p.176-193
Main Authors: Stenholm, Pekka, Acs, Zoltan J., Wuebker, Robert
Format: Article
Language:English
Subjects:
Entrepreneurs
Entrepreneurship
Entrepreneurship indicator
High-impact entrepreneurship
Influence
Institutional theory
Job creation
Multidimensional
Studies
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:This study introduces a novel multidimensional measure of the entrepreneurial environment that reveals how differences in institutional arrangements influence both the rate and the type of entrepreneurial activity in a country. Drawing from institutional theory, the measure examines the regulatory, normative, and cognitive dimensions of entrepreneurial activity, and introduces a novel conducive dimension that measures a country's capability to support high-impact entrepreneurship. Our findings suggest that differences in institutional arrangements are associated with variance in both the rate and type of entrepreneurial activity across countries. For the formation of innovative, high-growth new ventures, the regulative environment matters very little. For high-impact entrepreneurship an institutional environment filled with new opportunities created by knowledge spillovers and the capital necessary for high-impact entrepreneurship matter most.
ISSN:0883-9026
1873-2003
DOI:10.1016/j.jbusvent.2011.11.002