Institutional factors affecting entrepreneurshipa QCA analysis

  1. Pau Sendra-Pons 1
  2. Irene Comeig 1
  3. Alicia Mas-Tur 1
  1. 1 Universitat de València
    info

    Universitat de València

    Valencia, España

    ROR https://ror.org/043nxc105

Revista:
European Research on Management and Business Economics

ISSN: 2444-8834

Año de publicación: 2022

Volumen: 28

Número: 3

Páginas: 11-21

Tipo: Artículo

DOI: 10.1016/J.IEDEEN.2021.100187 DIALNET GOOGLE SCHOLAR

Otras publicaciones en: European Research on Management and Business Economics

Resumen

A country’s institutional framework plays a crucial role in promoting entrepreneurship, which drives eco- nomic growth. Encouraging a minimum level of certainty in ambiguous environments characterized by risk taking is important. Aware of this importance, we analyze the influence of institutional factors on entre- preneurship development. Specifically, we analyze political stability, government effectiveness, regulatory quality, a robust rule of law, the ease of starting a new business, and the ease of obtaining credit. We develop two models to explain the presence and absence of entrepreneurship. To do so, we apply qualitative compar- ative analysis (QCA) to a sample of 48 countries using data sourced from the Global Entrepreneurship Moni- tor and the Global Innovation Index. The results show that the effect of institutional factors on the level of entrepreneurship varies according to the socioeconomic characteristics of each country. They suggest that a wide range of institutional configurations lead to the presence or absence of entrepreneurship. Although entrepreneurship can be found in unfavorable institutional environments, future research should examine how to formalize such environments as a standardized institutional configuration to shift from necessity to opportunity entrepreneurship. Achieving this shift is relevant for innovation and economic development.

Referencias bibliográficas

  • Acemoglu, D., & Johnson, S. (2005). Unbundling institutions. Journal of Political Econ- omy, 113(5), 949–995.
  • Acs, Z. J., & Karlsson, C. (2002). Introduction to institutions, entrepreneurship and firm growth: From Sweden to the OECD. Small Business Economics, 183–187.
  • Acs, Z. J., & Szerb, L. (2007). Entrepreneurship, economic growth and public policy. Small Business Economics, 28(2−3), 109–122.
  • Acs, Z. J., & Audretsch, D. B. (2005). Entrepreneurship and innovation. Max Planck insti- tute of economics, group for entrepreneurship. Growth and Public Policy Working Paper N° No. 2005-21.
  • Agostino, M., Nifo, A., Trivieri, F., & Vecchione, G. (2020). Rule of law and regulatory quality as drivers of entrepreneurship. Regional Studies, 54(6), 814–826.
  • Ahlstrom, D., & Bruton, G. D. (2002). An institutional perspective on the role of culture in shaping strategic actions by technology focused entrepreneurial firms in China. Entrepreneurship Theory and Practice, 26(4), 53–69.
  • Aidis, R. (2005). Institutional barriers to small-and medium-sized enterprise operations in transition countries. Small Business Economics, 25(4), 305–317.
  • Aisen, A., & Veiga, F. J. (2006). Does political instability lead to higher inflation? A panel data analysis. Journal of Money, Credit and Banking,, 38(5), 1379–1389.
  • Akoum, I. (2009). Business success: Does good governance matter? A theoretical framework. Journal for Global Business Advancement, 2(4), 365–380.
  • Alam a Sabater, L., Budí Ordu~na, V., García Alvarez-Coque, J.M., .& Roig-Tierno, N. (2019). Using mixed research approaches to understand rural depopulation. Econ- omia Agraria y Recursos Naturales, 19, 99−120.
  • Aldrich, H. E., & Fiol, C. M. (1994). Fool rush in? The institutional context of industry creation. Academy of Management Review, 19, 645–670.
  • Alesina, A., & Perotti, R. (1996). Income distribution, political instability and invest- ment. European Economic Review, 40(6), 1203–1228.
  • Allen, J. C., & Malin, S. (2008). Green entrepreneurship: A method for managing natural resources? Society and Natural Resources, 21(9), 828–844.
  • Almod ovar-Gonz alez, M., Fern andez-Portillo, A., & Díaz-Casero, J. C. (2020). Entrepre- neurial activity and economic growth. A multi-country analysis. European Research on Management and Business Economics, 26(1), 9–17.
  • Anderson, A. R. (1998). Cultivating the garden of Eden: Environmental entrepreneur- ing. Journal of Organizational Change Management, 11(2), 135–144.
  • Anderson, A. R., & Starnawska, M. (2008). Research practices in entrepreneurship: Problems of definition, description and meaning. The International Journal of Entre- preneurship and Innovation, 9(4), 221–230.
  • Anokhin, S., & Schulze, W. S. (2009). Entrepreneurship, innovation, and corruption. Journal of Business Venturing, 24(5), 465–476.
  • Antoncic, B., & Hisrich, R. D. (2003). Clarifying the intrapreneurship concept. Journal of Small Business and Enterprise Development, 10(1), 7–24.
  • Armour, J., & Cumming, D. (2008). Bankruptcy law and entrepreneurship. American Law and Economics Review, 10(2), 303–350.
  • Aron, J. (2000). Growth and institutions: A review of the evidence. World Bank Research Observer, 15(1), 99–135.
  • Asghar, A. J., Nawaser, K., Paghaleh, M. J., & Khaksar, S. M. S. (2011). The role of govern- ment policy and the growth of entrepreneurship in the micro, small and medium- sized enterprises in India: An overview. Australian Journal of Basic and Applied Sci- ences, 5(6), 1563–1571.
  • Auty, R. (2001). The political economy of resource-driven growth. European Economic Review, 45(4−6), 839–846.
  • Azzone, G., & Noci, G. (1998). Seeing ecology and “green” innovations as a source of change. Journal of Organizational Change Management, 11(2), 94–111.
  • Bailey, J. B., & Thomas, D. W. (2017). Regulating away competition: The effect of regula- tion on entrepreneurship and employment. Journal of Regulatory Economics, 52(3), 237–254.
  • Baker, T., Gedajlovic, E., & Lubatkin, M. (2005). A framework for comparing entre- preneurship across nations. Journal of International Business Studies, 36(5), 492–504.
  • Barro, R. (1996). Democracy and growth. Journal of Economic Growth, 1(1), 1–27.
  • Barzel, Y. (1997). The economic analysis of property rights. Cambridge, United Kingdom: Cambridge University Press.
  • Baumol, W. J. (1996). Entrepreneurship: Productive, unproductive, and destructive. Journal of Business Venturing, 11(1), 3–22.
  • Baumol, W. J. (2010). The microtheory of innovative entrepreneurship. Princeton: Prince- ton University Press.
  • Baumol, W. J., & Strom, R. J. (2007). Entrepreneurship and economic growth. Strategic Entrepreneurship Journal, 1(3−4), 233–237.
  • Baumol, W. J., Litan, R. E., & Schramm, C. J. (2009). Good capitalism, bad capitalism and the economics of growth and prosperity. New Haven, Connecticut: Yale University Press.
  • Baumol, W. J. (1990). Entrepreneurship: Productive, unproductive, and destructive. Journal of Political Economy, 98(5), 893–992.
  • Bianchi, C. G., Borini, F. M., & Ogasavara, M. H. (2015). Creative industry internationali- sation: The impact of regulative, normative and cognitive institutions in developed and developing economies. Journal for Global Business Advancement, 8(4), 451–468.
  • Blanchflower, D. G., & Oswald, A. J. (1998). What makes an entrepreneur? Journal of Labor Economics, 16(1), 26–60.
  • Block, J. H., & Wagner, M. (2010). Necessity and opportunity entrepreneurs in Ger- many: Characteristics and earning s differentials. Schmalenbach Business Review, 62(2), 154–174.
  • Block, J. H., Colombo, M. G., Cumming, D. J., & Vismara, S. (2018). New players in entrepreneurial finance and why they are there. Small Business Economics, 50(2), 239–250.
  • Boettke, P. B., Coyne, C. J., & Koppl, R. (2003). Entrepreneurship and development: Cause or consequence? Austrian economics and entrepreneurial studies (pp. 67−87). New York, New York: Elsevier Science.
  • Boettke, P. B., Coyne, C. J., & Minniti, M. (2006). Entrepreneurial behavior and institu- tions. Entrepreneurship: The engine of growth (pp. 119−134). Portsmouth, Ohio: Praeger Press.
  • Bosma, N., Sanders, M., & Stam, E. (2018). Institutions, entrepreneurship, and economic growth in Europe. Small Business Economics, 51(2), 483–499.
  • Bosma, N., Wennekers, S., Guerrero, M., Amor os, J.E., .Martiarena, A., & Singer, S. (2013). Global Entrepreneurship Monitor: Special report on entrepreneurial employee activity. GEM, Global Entrepreneurship Research Association (GERA), 7−72
  • Boudreaux, C. J., & Nikolaev, B. (2019). Capital is not enough: Opportunity entre- preneurship and formal institutions. Small Business Economics, 53(3), 709–738.
  • Boudreaux, C. J., Nikolaev, B. N., & Klein, P. (2019). Socio-cognitive traits and entre- preneurship: The moderating role of economic institutions. Journal of Business Ven- turing, 34(1), 178–196.
  • Bratu, A., Cornescu, V., & Druica, E. (2009). The role of the necessity and the opportunity entrepreneurship in economic development. Annals of Faculty of Economics, 2(1), 242–245.
  • Braunerhjelm, P., Desai, S., & Eklund, J. E. (2015). Regulation, firm dynamics and entre- preneurship. European Journal of Law and Economics, 40(1), 1–11.
  • Brixiov a, Z., & Égert, B. (2017). Entrepreneurship, institutions and skills in low-income countries. Economic Modelling, 67, 381–391.
  • Bruton, G. D., Ahlstrom, D., & Li, H. L. (2010). Institutional theory and entrepreneurship: Where are we now and where do we need to move in the future? Entrepreneurship Theory and Practice, 34(3), 421–440.
  • Bruton, G. D., & Ahlstrom, D. (2003). An institutional view of China’s venture capital industry: Explaining the differences between China and the West. Journal of Busi- ness Venturing, 18(2), 233–260.
  • Bylund, P. L., & McCaffrey, M. (2017). A theory of entrepreneurship and institutional uncertainty. Journal of Business Venturing, 32(5), 461–475.
  • Carlsson, B. (2002). Institutions, entrepreneurship, and growth: Biomedicine and poly- mers in Sweden and Ohio. Small Business Economics, 19(2), 105–121.
  • Carpenter, R. E., & Petersen, B. C. (2002). Is the growth of small firms constrained by internal finance? Review of Economics and Statistics, 84(2), 298–309.
  • Carter, S., & Ram, M. (2003). Reassessing portfolio entrepreneurship. Small Business Economics, 21(4), 371–380.
  • Casson, M. (1982). The entrepreneur. Totowa, New Jersey: Barnes & Noble Books. Chambers, D., & Munemo, J. (2019). Regulations, institutional quality and entre- preneurship. Journal of Regulatory Economics, 55, 46–66.
  • Chowdhury, F., Audretsch, D. B., & Belitski, M. (2019). Institutions and entrepreneur- ship quality. Entrepreneurship Theory and Practice, 43(1), 51–81.
  • Churchill, S. A. (2017). Fractionalization, entrepreneurship, and the institutional envi- ronment for entrepreneurship. Small Business Economics, 48(3), 577–597.
  • Colombo, M. G., Cumming, D. J., & Vismara, S. (2016). Governmental venture capital for innovative young firms. The Journal of Technology Transfer, 41(1), 10–24.
  • Comeig, I., Mesa-V azquez, E., Sendra-Pons, P., & Urbano, A. (2020). Rational herding in reward-based crowdfunding: An MTurk experiment. Sustainability, 12(23), 9827.
  • Content, J., Bosma, N., Jordaan, J., & Sanders, M. (2020). Entrepreneurial ecosystems, entrepreneurial activity and economic growth: New evidence from European regions. Regional Studies, 54(8), 1007–1019.
  • Cosh, A., Cumming, D., & Hughes, A. (2009). Outside entrepreneurial capital. The Eco- nomic Journal, 119, 1494–1533.
  • Coulter, M. (2001). Entrepreneurship in action. Upper Saddle River, New Jersey: Pren- tice-Hall.
  • Cruz-Ros, S., Garzon, D., & Mas-Tur, A. (2017a). Entrepreneurial competencies and motivations to enhance marketing innovation in Europe. Psychology & Marketing, 34(11), 1031–1038.
  • Cruz-Ros, S., Garzon, D., & Mas-Tur, A. (2017b). Entrepreneurial competencies and motivations to enhance marketing innovation in Europe. Psychology & Marketing, 34(11), 1031–1038.
  • Dai, W., & Si, S. (2018). Government policies and firms' entrepreneurial orientation: Strate- gic choice and institutional perspectives. Journal of Business Research, 93, 23–36.
  • Davidsson, P. (2004). Researching entrepreneurship. New York, New York: Springer. Davis, L. E., & North, D. C. (1971). Institutional change and american economic growth. Cambridge: Cambridge University Press.
  • De Pablo, I. (2015). Las claves del emprendimiento corporativo. Espa~na: Global Entre- preneurship Monitor. Informe GEM.
  • Denzau, A. T., & North, D. C. (1994). Shared mental models: Ideologies and institutions. Kyklos Jahrbuch des Instituts fur Geschichte der Medizin an der Universitat Leipzig, 47(1), 3–31.
  • Desai, M., Gompers, P., & Lerner, J. (2003). Institutions, capital constraints and entrepre- neurial firm dynamics: Evidence from Europe. National Bureau of Economic Research NBERWorking Paper N°. 10165.
  • Desai, S., & Naud e, W. (2011). Measuring entrepreneurship in developing countries. Entrepreneurship and economic development (pp. 94−107). London, United King- dom: Palgrave Macmillan.
  • Dilli, S., & Westerhuis, G. (2018). How institutions and gender differences in education shape entrepreneurial activity: A cross-national perspective. Small Business Eco- nomics, 51(2), 371–392.
  • DiMaggio, P. J., Powell, W. W., Powell, W. W., & DiMaggio, P. J. (1991). Introduction. The new institutionalism in organizational analysis (pp. 1−38). Chicago, Illinois: Univer- sity of Chicago Press.
  • Dinh, H. T., Mavridis, D., & Nguyen, H. (2010). The binding constraint on firms’ growth in developing countries. World Bank Policy Research Working Paper N° 5485.
  • Djankov, S., La Porta, R., Lopez-de-Silanes, F., & Shleifer, A. (2002). The regulation of entry. Quarterly Journal of Economics, 117(1), 1–37.
  • Dreher, A., & Gassebner, M. (2013). Greasing the wheels? The impact of regulations and corruption on firm entry. Public choice, 155(3), 413–432.
  • Drucker, P. F. (1985). Innovation and entrepreneurship: Practice and principles. New York, New York: Harper Business.
  • Dutta, N., Sobel, R., & Roy, S. (2013). Entrepreneurship and political risk. Journal of Entrepreneurship and Public Policy, 2(2), 130–143.
  • Efendic, A., Mickiewicz, T., & Rebmann, A. (2015). Growth aspirations and social capital: Young firms in a post-conflict environment. International Small Business Journal: Researching Entrepreneurship, 33(5), 537–561.
  • Eijdenberg, E. L., Thompson, N. A., Verduijn, K., & Essers, C. (2019). Entrepreneurial activities in a developing country: An institutional theory perspective. Interna- tional Journal of Entrepreneurial Behavior & Research, 25(3), 414–432.
  • Eisenmann, T. R. (2013). Entrepreneurship: A working definition. Harvard Business Review, 10.
  • Escott, M. P. (2018). Introducci on al an alisis cualitativo comparativo como t ecnica de investigaci on. Revista Digital Ciencia@UAQRO, 11(1), 56–66.
  • Estrin, S., & Mickiewicz, T. (2010). Entrepreneurship in transition economies: The role of institutions and generational change. Institute for the Study of Labor Working Paper N° 4805.
  • Estrin, S., & Mickiewicz, T. (2011). Institutions and female entrepreneurship. Small Busi- ness Economics, 37(4), 397–415.
  • Estrin, S., Korosteleva, J., & Mickiewicz, T. (2013). Which institutions encourage entrepreneurial growth aspirations? Journal of Business Venturing, 28(4), 564–580.
  • Fang, T. (2010). Asian management research needs more self-confidence: Reflection on Hofstede (2007) and beyond. Asia Pacific Journal of Management, 27(1), 155–170.
  • Fiss, P. C. (2011). Building better causal theories: A fuzzy set approach to typologies in organization research. Academy of Management Journal, 54(2), 393–420.
  • Florea, A. M., Bercu, F., Radu, R. I., & Stanciu, S. (2019). A Fuzzy set qualitative compara- tive analysis (fsQCA) of the agricultural cooperatives from south east region of Romania. Sustainability, 11(21), 5927.
  • Fuentelsaz, L., Gonz alez, C., Maícas, J. P., & Montero, J. (2015). How different formal institutions affect opportunity and necessity entrepreneurship. BRQ Business Research Quarterly, 18(4), 246–258.
  • Garcia-Alvarez-Coque, J. M., Mas-Verd u, F., & Roig-Tierno, N. (2021a). Life below excel- lence: Exploring the links between top-ranked universities and regional competi- tiveness. Studies in Higher Education, 46(2), 369–384.
  • Garcia-Alvarez-Coque, J. M., Roig-Tierno, N., Sanchez-Garcia, M., & Mas-Verdu, F. (2021b). Knowledge drivers, business collaboration and competi- tiveness in rural and urban regions. Social Indicators Research, 157(1), 9–27.
  • Gartner, W. B. (1989). Who is an entrepreneur? is the wrong question. Entrepreneur- ship Theory and Practice, 13(4), 47–68.
  • Gedeon, S. (2010). What is entrepreneurship. Entrepreneurial practice review, 1(3), 16−35.
  • Gelb, A. (1988). Oil windfalls: Blessing or curse? Oxford: Oxford University Press.
  • Gilbert, B. A., Audretsch, D. B., & McDougall, P. P. (2004). The emergence of entre- preneurship policy. Small Business Economics, 22(3−4), 313–323.
  • Goltz, S., Buche, M. W., & Pathak, S. (2015). Political empowerment, rule of law, and women's entry into entrepreneurship. Journal of Small Business Management, 53(3), 605–626.
  • Gonz alez-Cruz, T. F., Roig-Tierno, N., & Botella-Carrubí, D. (2018). Quality management as a driver of innovation in the service industry. Service Business, 12(3), 505–524.
  • Guerini, M., & Quas, A. (2016). Governmental venture capital in Europe: Screening and certification. Journal of Business Venturing, 31(2), 175–195.
  • Hadjimichael, B., & Klein, M. U. (2003). The private sector in development: Entrepreneur- ship, regulation, and competitive disciplines. The World Bank.
  • Harper, D. A. (2003). Foundations of entrepreneurship and economic development. Lon- don, UK: Routledge.
  • Harraf, A., Ghura, H., Hamdan, A., & Li, X. (2020). Formal institutions and the develop- ment of entrepreneurial activity−the contingent role of corruption in emerging economies. Journal of Entrepreneurship and Public Policy.
  • Hebert, R. F., & Link, A. N. (1982). The entrepreneur. New York: Praeger.
  • Hechavarria, D. M., & Reynolds, P. D. (2009). Cultural norms and business start-ups: The impact of national values on opportunity and necessity entrepreneurs. Interna- tional Entrepreneurship and Management Journal, 5(4), 417–437.
  • Hoogendoorn, B. (2016). The prevalence and determinants of social entrepreneurship at the macro level. Journal of Small Business Management, 54, 278–296.
  • Horvath, R., Horvatova, E., & Siranova, M. (2017). Financial development, rule of law and wealth inequality: Bayesian model averaging evidence. (pp. 1−36). BOFIT Discussion Papers2017(12).
  • Howorth, C., Tempest, S., & Coupland, C. (2005). Rethinking entrepreneurship method- ology and definitions of the entrepreneur. Journal of Small Business and Enterprise Development, 12(1), 24–40.
  • Huovinen, J., & Tihula, S. (2008). Entrepreneurial learning in the context of portfolio entrepreneurship. International Journal of Entrepreneurial Behavior and Research, 14 (3), 152–171.
  • Johannisson, B. (2002). Walking the promised land - enacting and researching entre- preneurship. Second movements in entrepreneurship workshop Stockholm May (pp. 22-26).
  • Jong-a-Pin, R. (2009). On the measurement of political instability and its impact on eco- nomic growth. European Journal of Political Economy, 25(1), 15–29.
  • Kao, R. W. (1993). Defining entrepreneurship: Past, present and? Creativity and Innova- tion Management, 2(1), 69–70.
  • Kaufmann, D., Kraay, A., & Mastruzzi, M. (2011). The worldwide governance indicators: Methodology and analytical issues. Hague Journal on the Rule of Law, 3(2), 220– 246.
  • Kelley, D. J., Singer, S., & Herrington, M. (2012). The global entrepreneurship monitor. 2011 Global Report, GEM 2011, 7.ISO 690
  • Keefer, P., & Knack, S. (1997). Why do not poor countries catch up? A cross-national test of an institutional explanation. Economic Inquiry, 35(3), 590–602.
  • Kerr, W., & Nanda, R. (2009). Financing constraints and entrepreneurship. National Bureau of Economic Research Working Paper N° 15498.
  • Kirzner, I. M. (1973). Competition and entrepreneurship. Chicago, Illinois: The University of Chicago Press, Ltd.
  • Klapper, L., Amit, R., Guill en, M. F., & Quesada, J. M. (2007). Entrepreneurship and firm formation across countries. The World Bank.
  • Klapper, L., Laeven, L., & Rajan, R. (2006). Entry regulation as a barrier to entrepreneur- ship. Journal of Financial Economics, 82(3), 591–629.
  • Kobia, M., & Sikalieh, D. (2010). Towards a search for the meaning of entrepreneurship. Journal of European Industrial Training, 34(2), 110–127.
  • Kumar, G., & Borbora, S. (2016). Facilitation of entrepreneurship: The role of institu- tions and the institutional environment. South Asian Journal of Management, 23(3), 57.
  • La Porta, R., & Shleifer, A. (2008). The unofficial economy and economic development. Brookings Papers on Economic Activity, 2008(2), 275–363.
  • Landstr€om, H. (1999). The roots of entrepreneurship research. New England Journal of Entrepreneurship, 2(2), 9–20.
  • Lee, S. H., Yamakawa, Y., Peng, M. W., & Barney, J. B. (2011). How do bankruptcy laws affect entrepreneurship development around the world? Journal of Business Ven- turing, 26(5), 505–520.
  • Levie, J., & Autio, E. (2008). A theoretical grounding and test of the GEM model. Small Business Economics, 31(3), 235–263.
  • Levie, J., & Autio, E. (2011). Regulatory burden, rule of law, and entry of strategic entre- preneurs: An international panel study. Journal of Management Studies, 48(6), 1392–1419.
  • Levine, R., & Renelt, D. (1992). A sensitivity analysis of cross-country growth regres- sions. American Economic Review, 82(4), 942–963.
  • Li, W. (2002). Entrepreneurship and government subsidies: A general equilibrium anal- ysis. Journal of Economic Dynamics and Control, 26(11), 1815–1844.
  • Liu, J., Hu, M., Zhang, H., & Carrick, J. (2019). Corruption and entrepreneurship in emerging markets. Emerging Markets Finance and Trade, 55(5), 1051–1068.
  • Lloyd-Ellis, H., & Bernhardt, D. (2000). Enterprise, inequality and economic develop- ment. The Review of Economic Studies, 67(1), 147–168.
  • Long, W. (1983). The meaning of entrepreneurship. American Journal of Small Business, 8(2), 47–59.
  • Lucas, D. S., & Fuller, C. S. (2017). Entrepreneurship: Productive, unproductive, and destructive-relative to what? Journal of Business Venturing Insights, 7, 45–49.
  • Lundstrom, A., & Stevenson, L. A. (2006). Entrepreneurship policy: Theory and practice. Luxembourg: Springer Science & Business Media.
  • Malchow-Møller, N., Schjerning, B., & Sørensen, A. (2011). Entrepreneurship, job crea- tion and wage growth. Small Business Economics, 36(1), 15–32.
  • Margolis, D. N. (2014). By choice and by necessity: Entrepreneurship and self-employ- ment in the developing world. European Journal of Development Research, 26(4), 419–436.
  • Marino, L., Kreiser, P., Robinson, A., Landstr€om, H., & Lohrke, F. (2010). Environmental uncertainty and firm-level entrepreneurship. Historical foundations of entre- preneurship research. (pp. 81−97). United Kingdom: Edward Elgar Cheltenham.
  • Martínez-Ch afer, L., Molina-Morales, F. X., & Roig-Tierno, N. (2021). Explaining techno- logical innovation of the clustered firms: Internal and relational factors. Journal of Small Business Management, 1–32.
  • Michael, S. C., & Pearce, J. A. (2009). The need for innovation as a rationale for govern- ment involvement in entrepreneurship. Entrepreneurship & Regional Development, 21(3), 285–302.
  • Miller, D. (1983). The correlates of entrepreneurship in three types of firms. Manage- ment Science, 29(7), 770–791.
  • Minniti, M. (2008). The role of government policy on entrepreneurial activity: Produc- tive, unproductive, or destructive? Entrepreneurship Theory and Practice, 32(5), 779–790.
  • Mohammadi Khyareh, M. (2017). Institutions and entrepreneurship: The mediating role of corruption. World Journal of Entrepreneurship, Management and Sustainable Development,, 13(3), 262–282.
  • Mohedano-Suanes, A., Garz on-Benítez, D. G., Tur Porcar, A., & Ribeiro Soriano, D. (2018). Intrapreneurs: Characteristics and behavior. Inside the mind of the entrepreneur (pp. 109−119). Cham, Germany: Springer.
  • Munoz, L. (2010). Forced to entrepreneurship: Modeling the factors behind necessity entrepreneurship. Journal of Business and Entrepreneurship, 22(1), 37–53.
  • Murphy, K. M., Shleifer, A., & Vishny, R. W. (1993). Why is rent-seeking so costly to growth? American Economic Review, 83(2), 409–414.
  • North, D. C. (1990). Institutions, institutional change and economic performance. Cam- bridge: Cambridge University Press.
  • North, D., & Thomas, R. (1973). The rise of the western word: A new economic history. Cambridge UK: Cambridge University Press.
  • Nwabuzor, A. (2005). Corruption and development: New initiatives in economic open- ness and strengthened rule of law. Journal of Business Ethics, 59(1−2), 121–138.
  • Obaji, N. O., & Olugu, M. U. (2014). The role of government policy in entrepreneurship development. Science Journal of Business and Management, 2(4), 109–115.
  • Parker, S. C. (2011). Intrapreneurship or entrepreneurship? Journal of Business Ventur- ing, 26(1), 19–34.
  • Parker, S. C. (2014). Who become serial and portfolio entrepreneurs? Small Business Economics, 43(4), 887–898.
  • Peng, M. W., & Li, H. (2006). How entrepreneurs create wealth in transition economies. Growth of new technology ventures in china’s emerging market (pp. 87−111). Chel- tenham, United Kingdom: Edward Elgar.
  • Peters, L., Rice, M., & Sundararajan, M. (2004). The role of incubators in the entrepre- neurial process. The Journal of Technology Transfer, 29(1), 83–91.
  • Ragin, C. C. (1987). The comparative method. moving beyond qualitative and quantitative strategies. Berkeley, CA: University of California Press.
  • Ragin, C. C. (2000). Fuzzy-set social science. Chicago, Illinois: University of Chicago Press.
  • Ragin, C. C. (2008). Redesigning social inquiry: Fuzzy sets and beyond. Chicago, Illinois: University of Chicago Press.
  • Ragin, C. C., Fiss, P. C., & Ragin, C. C. (2008). Net effects analysis versus configurational analysis: An empirical demonstration. Redesigning social inquiry: Fuzzy sets and beyond (pp. 190−212). Chicago, Illinois: University of Chicago Press.
  • Ramadani, V. (2009). Business angels: Who they really are. Strategic Change Briefings in Entrepreneurial Finance, 18(7−8), 249–258.
  • Reiner, C., & Staritz, C. (2013). Private sector development and industrial policy: Why, how and for whom. Wien: €Osterreichische Entwicklungspolitik.
  • Ribeiro-Soriano, D., & Galindo-Martín, M. A. (2012). Government policies to support entrepreneurship. Entrepreneurship & Regional Development, 24(9−10), 861–864.
  • Rodriguez, P., Siegel, D. S., Hillman, A., & Eden, L. (2006). Three lenses on the multina- tional enterprise: Politics, corruption, and corporate social responsibility. Journal of International Business Studies, 37, 733–746.
  • Rodrik, D. (2000). Institutions for high-quality growth: What they are and how to acquire them. Studies in Comparative International Development, 35(3), 3–31.
  • Rodrik, D., Subramanian, A., & Trebbi, F. (2004). Institutions rule: The primacy of insti- tutions over geography and integration in economic development. Journal of Eco- nomic Growth, 9, 131–165.
  • Roe, M. J., & Siegel, J. I. (2011). Political instability: Effects on financial development, roots in the severity of economic inequality. Journal of Comparative Economics, 39 (3), 279–309.
  • Roig-Tierno, N., Gonzalez-Cruz, T. F., & Llopis-Martinez, J. (2017). An overview of quali- tative comparative analysis: A bibliometric analysis. Journal of Innovation & Knowl- edge, 2(1), 15–23.
  • Rose, R., Dasgupta, P., & Serageldin, I. (2000). Getting things done in an anti-modern society: Social capital networks in Russia. Social capital: A multifaceted perspective (pp. 147−171). Washington, DC: The World Bank.
  • Ross, M. (2001). Does oil hinder democracy? World Politics, 53(3), 325–361.
  • Roy, W. G. (1997). Socializing capital: The rise of the large industrial corporation in Amer- ica. Princeton, New Jersey: Princeton University Press.
  • Rupeika-Apoga, R., & Danovi, A. (2015). Availability of alternative financial resources for SMEs as a critical part of the entrepreneurial eco-system: Latvia and Italy. Pro- cedia Economics and Finance, 33, 200–210.
  • Salinas, A., Ortiz, C., & Muffatto, M. (2019). Business regulation, rule of law and formal entrepreneurship: Evidence from developing countries. Journal of Entrepreneurship and Public Policy, 8(2), 254–271.
  • Sambharya, R., & Musteen, M. (2014). Institutional environment and entrepreneurship: An empirical study across countries. Journal of International Entrepreneurship, 12 (4), 314–330.
  • Sastre-Castillo, M. A., Peris-Ortiz, M., & Danvila-Del Valle, I. (2015). What is different about the profile of the social entrepreneur? Nonprofit Management and Leadership, 25(4), 349–369.
  • Savoia, A., & Sen, K. (2016). Do we see convergence in institutions? A cross-country analysis. The Journal of Development Studies, 52(2), 166–185.
  • Schneider, C. Q., & Wagemann, C. (2010). Standards of good practice in qualitative com- parative analysis (QCA) and fuzzy-sets. Comparative Sociology, 9(3), 397–418.
  • Schneider, C. Q., & Wagemann, C. (2012). Set-theoretic methods for the social sciences: A guide to qualitative comparative analysis. Cambridge, United Kingdom: Cambridge University Press.
  • Schumpeter, J. A. (1934). The theory of economic development: An inquiry into profits, capital, credit, interest, and the business cycle. Cambridge, Massachusetts: Harvard University Press.
  • Schumpeter, J. A. (2017). Essays: On entrepreneurs, innovations, business cycles and the evolution of capitalism. Abingdon, United Kingdom: Routledge.
  • Scott, W. R. (2007). Institutions and organizations: Ideas and interests. Thousand Oaks, CA: Sage Publications.
  • Sendra-Pons, P., Belarbi-Mu~noz, S., Garz on, D., & Mas-Tur, A. (2021). Cross-country dif- ferences in drivers of female necessity entrepreneurship. Service Business, 1–19.
  • Shane, S., & Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217–226.
  • Sikalieh, D., Mokaya, S. O., & Namusonge, M. (2012). The concept of entrepreneurship; in pursuit of a universally acceptable definition. International Journal of Arts and Commerce, 1(6), 128–135.
  • Singh, S., Sinha, S., Das, V. M., & Sharma, A. (2019). A framework for linking entrepreneurial ecosystem with institutional factors: A modified total inter- pretive structural modelling approach. Journal for Global Business Advance- ment, 12(3), 382–404.
  • Smallbone, D., & Welter, F. (2006). Conceptualising entrepreneurship in a transition context. International Journal of Entrepreneurship and Small Business, 3(2), 190–206.
  • Sobel, R. S. (2008). Testing Baumol: Institutional quality and the productivity of entre- preneurship. Journal of Business Venturing, 23(6), 641–655.
  • Soto, H. D. (2000). The mystery of capital: Why capitalism triumphs in the west and fails everywhere else. New York: Basic Books.
  • Stevenson, H., & Jarillo, J. (1990). A paradigm of entrepreneurship: Entrepreneurial management. Strategic Management Journal, 11, 17–27.
  • Storey, D. J. (1991). The birth of new firms—Does unemployment matter? A review of the evidence. Small Business Economics, 3(3), 167–178.
  • Tonoyan, V., Strohmeyer, R., Habib, M., & Perlitz, M. (2010). Corruption and entre- preneurship: How formal and informal institutions shape small firm behavior in transition and mature market economies. Entrepreneurship Theory and Practice, 34 (5), 803–832.
  • T oth, Z., Thiesbrummel, C., Henneberg, S. C., & Naud e, P. (2015). Understanding config- urations of relational attractiveness of the customer firm using fuzzy set QCA. Jour- nal of Business Research, 68(3), 723–734.
  • Tur-Porcar, A., Mas-Tur, A., & Belso, J. A. (2017). Barriers to women entrepreneurship. Different methods, different results? Quality & Quantity, 51(5), 2019–2034.
  • Uhlenbruck, K., Rodriguez, P., Doh, J., & Eden, L. (2006). The impact of corruption on entry strategy: Evidence from telecommunication projects in emerging economies. Organization Science, 17(3), 402–414.
  • Urbano, D., Audretsch, D., Aparicio, S., & Noguera, M. (2020). Does entrepreneurial activity matter for economic growth in developing countries? The role of the insti- tutional environment. International Entrepreneurship and Management Journal, 16 (3), 1065–1099.
  • Van der Zwan, P., Thurik, R., Verheul, I., & Hessels, J. (2016). Factors influencing the entrepreneurial engagement of opportunity and necessity entrepreneurs. Eurasian Business Review, 6(3), 273–295.
  • Van Slyke, D. M., & Newman, H. K. (2006). Venture philanthropy and social entre- preneurship in community redevelopment. Nonprofit Management and Leadership, 16(3), 345–368.
  • Van Stel, A., Storey, D. J., & Thurik, A. R. (2007). The effect of business regulations on nascent and young business entrepreneurship. Small Business Economics, 28(2−3), 171–186.
  • Westhead, P., Ucbasaran, D., Wright, M., & Binks, M. (2005). Novice, serial and portfolio entrepreneur behaviour and contributions. Small Business Economics, 25(2), 109– 132.
  • Williams, N., & Williams, C. C. (2014). Beyond necessity versus opportunity entre- preneurship: Some lessons from English deprived urban neighbourhoods. Interna- tional Entrepreneurship and Management Journal, 10(1), 23–40.
  • Williamson, O. (1975). Markets and hierarchies: Analysis and antitrust implications. Lon- don: Collier Macmillan Publishing.
  • Williamson, O. (1985). The economic institutions of capitalism: Firms, markets, relational contracting. New York: The Free Press.
  • Williamson, O. (2000). The new institutional economics: Taking stock, looking ahead. Journal of Economic Literature, 38(3), 595–613.
  • Wiseman, T. (2015). Entrepreneurship, corruption, and the size of US underground economies. Journal of Entrepreneurship and Public Policy, 4(3), 313–330.
  • Woodside, A. G., & Zhang, M. (2012). Identifying x-consumers using causal recipes: “Whales” and “jumbo shrimps” casino gamblers. Journal of Gambling Studies, 28(1), 13–26.
  • Zerbinati, S., & Souitaris, V. (2005). Entrepreneurship in the public sector: A framework of analysis in European local governments. Entrepreneurship & Regional Develop- ment, 17(1), 43–64.
  • Zimmerman, J. (2008). Refining the definition of entrepreneurship. Pepperdine Univer- sity, Malibu, United States