A1 Refereed original research article in a scientific journal
Exploring country-level institutional arrangements on the rate and type of entrepreneurial activity
Authors: Stenholm P, Acs ZJ, Wuebker R
Publisher: ELSEVIER SCIENCE BV
Publication year: 2013
Journal: Journal of Business Venturing
Journal name in source: JOURNAL OF BUSINESS VENTURING
Journal acronym: J BUS VENTURING
Volume: 28
Issue: 1
First page : 176
Last page: 193
Number of pages: 18
ISSN: 0883-9026
DOI: https://doi.org/10.1016/j.jbusvent.2011.11.002
Abstract
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 Red with new opportunities created by knowledge spillovers and the capital necessary for high-impact entrepreneurship matter most. (C) 2011 Elsevier Inc. All rights reserved.
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 Red with new opportunities created by knowledge spillovers and the capital necessary for high-impact entrepreneurship matter most. (C) 2011 Elsevier Inc. All rights reserved.
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