Postmaterialism influencing total entrepreneurial activity across nations |
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Authors: | Lorraine Uhlaner Roy Thurik |
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Affiliation: | 1.European Family Business Institute, Centre for Advanced Small Business Economics, Erasmus School of Economics,Erasmus University Rotterdam,Rotterdam,The Netherlands;2.Centre for Advanced Small Business Economics, Erasmus School of Economics,Erasmus University Rotterdam,Rotterdam,The Netherlands;3.EIM Business and Policy Research,Zoetermeer,The Netherlands;4.Max Planck Institute of Economics,Jena,Germany |
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Abstract: | The relative stability of differences in entrepreneurial activity across countries suggests that other than economic factors are at play. The objective of this paper is to explore how postmaterialism may explain these differences. A distinction is made between nascent entrepreneurship, new business formation and a combination of the two, referred to as total entrepreneurial activity, as defined within the Global Entrepreneurship Monitor (GEM). The model is also tested for the rate of established businesses. The measure for postmaterialism is based upon Inglehart’s four-item postmaterialism index. A set of economic, demographic and social factors is included to investigate the independent role postmaterialism plays in predicting entrepreneurial activity levels. In particular, per capita income is used to control for economic effects. Education rates at both secondary and tertiary levels are used as demographic variables. Finally, life satisfaction is included to control for social effects. Data from 27 countries (GEM, World Values Survey and other sources) are used to test the hypotheses. Findings confirm the significance of postmaterialism in predicting total entrepreneurial activity and more particularly, new business formation rates. |
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Keywords: | Comparative analysis of economies Cultural economics Entrepreneurship Self-employment Macro-economic analyses of economic development |
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