RT Journal Article T1 The effect of social, cultural, and economic factors on entrepreneurship A1 Castaño Martínez, María Soledad A1 Méndez Picazo, María Teresa A1 Galindo Martín, Miguel Ángel AB Current economic downturn encourages extensive research into economic growth engines, with entrepreneurship as one of the key drivers of growth. Although crucial, determining which variables stimulate entrepreneurial activity constitutes a difficult task due to interrelated factors. This study analyzes three groups of factors affecting entrepreneurship and entrepreneurs' perceptions of opportunity: social, cultural, and economic variables. Therefore, this study employs the partial least squares method for two groups of countries: (1) European countries, and (2) Latin-American and Caribbean countries. This approach identifies how these factors' effects differ across different countries. PB Elsevier Inc. SN 01482963 YR 2015 FD 2015-07 LK https://hdl.handle.net/20.500.14352/23812 UL https://hdl.handle.net/20.500.14352/23812 LA eng NO Acemoglu, D., Johnson, S., & Robinson, A. (2002). The colonial origins of comparative development. An empirical investigation. American Economic Review, 91(5), 1369–1401.Acs, Z.J., Audretsch, D.B., Braunerhjelm, P., & Carlsson, B. (2012). Growth and entrepreneurship. Small Business Economics, 39(2), 289–300.Acs, Z.J., & Szerb, L. (2007). Entrepreneurship, economic growth and public policy. Small Business Economics, 28(2–3), 109–122.Audretsch, D.B. (2002). Entrepreneurship: A survey of the literature. European Commission, Enterprise Directorate General, Brussels.Audretsch, D.B., Bonte,W., & Keilbach,M. (2008). Entrepreneurship capital and its impact on knowledge diffusion and economic performance. Journal of Business Venturing, 23(6), 687–698.Audretsch, D.B., & Keilbach, M. (2004). Entrepreneurship capital and economic performance. Regional Studies, 38(8), 949–959.Audretsch, D.B., & Keilbach, M. (2008). Resolving the knowledge paradox: Knowledgespillover entrepreneurship and economic growth. Research Policy, 37(10), 1697–1705.Audretsch, D.B., Keilbach, M.C., & Lehmann, E. (2006). Entrepreneurship and economic growth. New York, Oxford: Oxford University Press.Barclay, D., Higgins, C., & Thompson, R. (1995). The partial least squares (PLS) approach to causal modeling. Personal computer adoption and use as an illustration. Technology Studies, 2(2), 285–309.Barreneche, A. (2014). Analyzing the determinants of entrepreneurship in European cities. Small Business Economics, 42, 77–98.Baumol, W. (1990). Entrepreneurship: Productive, unproductive, and destructive. The Journal of Political Economy, 98(5), 893–921.Boettke, P., & Coyne, C. (2003). Entrepreneurship and development: Cause or consequence? Advances in Austrian Economics, 6, 67–88.Bosma, N., Acs, Z.J., Autio, E., Coduras, A., & Levie, J. (2008). Global Entrepreneurship Monitor: 2008 EXECUTIVE REPORT. London, UK: London Business School.Bourguignon, F., & Verdier, T. (2000). Oligarchy, democracy, inequality, and growth. Journal of Development Economics, 62, 285–313.Campbell, N., & Mitchell, D.T. (2012). A (partial) review of entrepreneurship literature across disciplines. Journal of Entrepreneurship and Public Policy, 1(2), 183–199.De Clercq, D., Hessels, S.J.A., & van Stel, A.J. (2007). Knowledge spillovers and entrepreneurs' export orientation. Erasmus Research Institute of Management (ERIM Report Series Reference No. ERS-2007-038-ORG).De Clercq, D., Sapienza, H.J., & Crijns, H. (2005). The internationalization of small and medium-sized firms: The role of organizational learning effort and entrepreneurial orientation. Small Business Economics, 24(4), 409–419.Drucker, P.F. (1998). The discipline of innovation. Harvard Business Review, 76(6), 149–157.Duguet, E. (2004). Are R&D subsidies a substitute or a complement to privately funded R&D? Evidence from France using propensity score methods for non-experimental data. Revue d'Economie Politique, 114(2), 245–274.Falk, R., &Miller, N. (1992). A primer for soft modelling. Akron, OH: University of Akron Press.Fornell, C.,& Larcker, D. (1981). Evaluating structural equations models with unobservable variables and measurement error. Journal of Marketing Research, 18, 39–50.Galindo, M.A., & Méndez,M.T. (2014). Entrepreneurship, economic growth, and innovation: Are feedback effects at work? Journal of Business Research, 67, 825–829.Galindo, M.A., Méndez, M.T., & Alfaro, J.L. (2010). Entrepreneurship, income distribution and economic growth. International Entrepreneurship and Management Journal, 6(2), 131–141.Galor, O., & Zeira, J. (1993). Income distribution and macroeconomics. Review of Economic Studies, 60(1), 35–52.Gavron, R., Cowling, M., Holtham, G., & Westall, A. (1998). The entrepreneurial society. London, UK: Institute for Public Policy Research.Gnyawali, D.R., & Fogel, D.S. (1994). Environments for entrepreneurship development: Key dimensions and research implications. Entrepreneurship: Theory and Practice, 18(4), 43–62.Görg, H., & Greenaway, D. (2004). Much ado about nothing? Do domestic firms really benefit from foreign direct investment? World Bank Research Observer, 19(2), 171–197.Greenaway, D., Sousa, N., & Wakelin, K. (2004). Do domestic firms learn to export from multinationals? European Journal of Political Economy, 20(4), 1027–1043.Grossman, G.M., & Helpman, E. (1991). Trade, knowledge spillovers and growth. European Economic Review, 35, 517–526.Hadjimanolis, A. (2000). A resource-based view of innovativeness in small firms. Technology Analysis & Strategic Management, 12(2), 263–281.Hall, J., & Sobel, R. (2008). Institutions, entrepreneurship, and regional differences in economic growth. Southern Journal of Entrepreneurship, 1, 69–96.Herbig, P., & Dunphy, S. (1998). Culture and innovation. Cross Cultural Management: An International Journal, 5(4), 13–21.Hessels, S.J.A., & De Van Stel, A.J. (2007). Export orientation among newventures and economic growth. ERIM report series 2007–2008.Johnson, S., Kaufmann, D., & Shleifer, A. (1997). Politics and entrepreneurship in transition economies. Working paper no. 57. Ann Arbor, MI: William Davidson Institute, University of Michigan.Kafouros, M.I., Buckley, P.J., Sharp, J.A., & Wang, C. (2008). The role of internationalization in explaining innovation performance. Technovation, 28(1–2), 63–74.Kelley, D. K., & Singer, S. H. (2012). The Global Entrepreneurship Monitor, Babson College, London: Universidad del Desarrollo, University Tun Abdul Razak, London: Business School.McCloskey, D. (2010). Bourgeois dignity and liberty: Why economics can't explain the modern world. Chicago: University of Chicago Press.McMullen, J.S., Bagby, D.R., & Palich, L.E. (2008). Economic freedomand themotivation to engage in entrepreneurial action. Entrepreneurship: Theory and Practice, 32(5), 875–895.Méndez-Picazo,M.T., Galindo-Martín, M.A., & Ribeiro-Soriano, D. (2012). Governance, entrepreneurship and economic growth. Entrepreneurship & Regional Development, 24(9–10), 865–877.Nissan, E., Galindo, M.A., & Méndez-Picazo, M.T. (2012). Innovation, progress, entrepreneurship and cultural aspects. International Entrepreneurship Management Journal, 8, 411–420.North, D. (1990). Institutions, institutional change and economic performance. Cambridge: Cambridge University Press.Noseleit, F. (2013). Entrepreneurship, structural change, and economic growth. Journal of Evolutionary Economics. http://dx.doi.org/10.1007/s00191-00012-00291-00193 (Retrieved from).Powel, B., & Rodet, C.S. (2012). Praise and profits: Cultural and institutional determinants of entrepreneurship. The Journal of Private Enterprise, 27(2), 19–42.Reynolds, P.D., Hay, M., & Camp, S.M. (1999). Global entrepreneurship monitor— 1999 executive report. Kansas City, KS: Kauffman Center for Entrepreneurial Leadership.Schumpeter, J.A. (1934). The theory of economic development. Cambridge: Harvard University Press.Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217–226.Sobel, R. (2008). Testing Baumol: Institutional quality and the productivity of entrepreneurship. Journal of Business Venturing, 23, 641–665.Tenenhaus, M. (1998). La régression PLS: théorie et pratique. París: Technip.Williamson, C.R. (2013). Disentangling institutional determinants of entrepreneurship. American Journal of Entrepreneurship, 1, 40–66.Zahra, S.A., Duane Ireland, R., & Hitt,M.A. (2000). International expansion by new venture firms: International diversity, mode of market entry, technological learning, and performance. Academy of Management Journal, 43(5), 925–950. DS Docta Complutense RD 21 jul 2024