Culture’s impact on entrepreneurship and interaction effect of economic development level: an 81 country study
Abstract
This research has two aims. The first one is to determine how and to what extent the national cultural characteristic of a country plays a role in her entrepreneurship success. The second one is to determine whether culture and economic development levels interact with each other on influencing entrepreneurship success. A consecutive five-year longitudinal study, covering 81 countries is conducted. Longitudinal Random Effect Regression Analysis is used to determine the effects of culture on entrepreneurship rates. Data regarding the cultural dimensions indexes of the countries is obtained from Geert Hofstede website and the entrepreneurship rates from the annual reports of the Global Entrepreneurship and Development Institute. The interaction effect of cultural dimensions and economic development levels on entrepreneurship is analyzed by treating the economic development level is the interacting variable between cultural dimensions and entrepreneurship rates. Economic development levels of the countries are measured by GDP per capita, figures obtained from the World Bank. The findings are that the cultural dimensions Individualism, Long Term Orientation, and Indulgence vs. Restraint influence the entrepreneurship rate in a supportive manner, whereas Masculinity’s impact is in a rendering manner. Other dimensions seem to have no significant effect. Although relevant cultural dimensions do interact with economic development levels, their interaction effects are small. This study has several unique contributions to the entrepreneurship literature, such as its longitudinal nature, using all Hofstede Dimensions, applying a very comprehensive entrepreneurship measurement scale, its huge sample size and containing an interactive analysis of culture and economic development level which is very rare in the literature.
Keyword : cross-cultural study, interaction of culture and economy, entrepreneurship, Hofstede Dimensions
How to Cite
Çelikkol, M., Kitapçi, H., & Döven, G. (2019). Culture’s impact on entrepreneurship and interaction effect of economic development level: an 81 country study. Journal of Business Economics and Management, 20(4), 777-797. https://doi.org/10.3846/jbem.2019.10180
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Davidsson, P., & Wiklund, J. (1997). Values, beliefs and regional variations in new firm formation rates. Journal of Economic psychology, 18(2-3), 179-199. https://doi.org/10.1016/S0167-4870(97)00004-4
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Etzioni, A. (1987). Entrepreneurship, adaptation and legitimation: a macro-behavioral perspective. Journal of Economic Behavior & Organization, 8(2), 175-189. https://doi.org/10.1016/0167-2681(87)90002-3
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Frederking, L. C. (2004). A cross-national study of culture, organization, and entrepreneurship in three neighborhoods. Entrepreneurship & Regional Development, 16(3), 197-215. https://doi.org/10.1080/0898562042000197126
Freytag, A., & Thurik, R. (2007). Entrepreneurship and its determinants in a cross-country setting. Journal of evolutionary Economics, 17(2), 117-131. https://doi.org/10.1007/s00191-006-0044-2
Galvão, A., Mascarenhas, C., Gouveia Rodrigues, R., Marques, C. S., & Leal, C. T. (2017). A quadruple helix model of entrepreneurship, innovation, and stages of economic development. Review of International Business and Strategy, 27(2), 261-282. https://doi.org/10.1108/RIBS-01-2017-0003
Gartner, W. B. (1988). Who is an entrepreneur? Is the wrong question. American Journal of Small Business, 12(4), 11-32. https://doi.org/10.1177/104225878801200401
Gupta, V. K., Turban, D. B., Wasti, S. A., & Sikdar, A. (2009). The role of gender stereotypes in the perceptions of entrepreneurs and intentions to become an entrepreneur. Entrepreneurship theory and practice, 33(2), 397-417. https://doi.org/10.1111/j.1540-6520.2009.00296.x
Harutyunyan, A., & Özak, Ö. (2017). Culture, diffusion, and economic development: The problem of observational equivalence. Economics Letters, 158, 94-100. https://doi.org/10.1016/j.econlet.2017.06.040
Hayton, J. C., & Cacciotti, G. (2013). Is there an entrepreneurial culture? A review of empirical research. Entrepreneurship & Regional Development, 25(9-10), 708-731. https://doi.org/10.1080/08985626.2013.862962
Hayton, J. C., George, G., & Zahra, S. A. (2002). National culture and entrepreneurship: A review of behavioral research. Entrepreneurship Theory and Practice, 26(4), 33-52. https://doi.org/10.1177/104225870202600403
Hechavarria, D. M., & Reynolds, P. D. (2009). Cultural norms & business start-ups: the impact of national values on opportunity and necessity entrepreneurs. International Entrepreneurship and Management Journal, 5(4), 417. https://doi.org/10.1007/s11365-009-0115-6
Hofstede, G. (1980). Culture’s consequences: International Differences in Work-Related Values. Newbury Park, CA, Sage Publications.
Hofstede, G. (2001). Culture’s consequences: comparing values, behaviors, institutions, and organizations across nations. Thousand Oaks, C, Sage Publications.
Hofstede, G. (2010). The GLOBE debate: Back to relevance. Journal of International Business Studies, 41(8), 1339-1346. https://doi.org/10.1057/jibs.2010.31
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