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Econometric Modeling to Measure the Social and Economic Factors in the Success of Entrepreneurship

Author

Listed:
  • Rolando Rubilar-Torrealba

    (Departamento de Ciencias Económicas y Administrativas, Facultad de Ciencias Jurídicas, Económicas y Administrativas, Universidad Católica de Temuco, Temuco 4810302, Chile
    These authors contributed equally to this work.)

  • Karime Chahuán-Jiménez

    (Centro de Investigación en Negocios y Gestión Empresarial, Escuela de Auditoría, Facultad de Ciencias Económicas y Administrativas, Universidad de Valparaíso, Valparaíso 2362735, Chile
    These authors contributed equally to this work.)

  • Hanns de la Fuente-Mella

    (Escuela de Comercio, Facultad de Ciencias Económicas y Administrativas, Pontificia Universidad Católica de Valparaíso, Valparaíso 2340031, Chile
    These authors contributed equally to this work.)

  • Mercedes Marzo-Navarro

    (Facultad de Economía y Empresa, Universidad de Zaragoza, 50005 Zaragoza, Spain
    These authors contributed equally to this work.)

Abstract

The purpose of this research is to develop a theoretical model of the entrepreneurial decision of individuals and to measure the effect of a group of variables on this decision. The effects of variables such as income, age, gender, level of education, and entrepreneurial skills are studied. The results show that innovation and entrepreneurship are linked to the personal characteristics of individuals and the social context in which they develop, thus making it possible to guide social policies for the development of the economy. Logit and probit functions were used to measure the effect of the variables on the entrepreneurship phenomenon. The main findings of this research indicate that the variables with a significant impact on the success of entrepreneurship and innovation are income, age, gender, skill, and the interaction between the opportunity and education variables.

Suggested Citation

  • Rolando Rubilar-Torrealba & Karime Chahuán-Jiménez & Hanns de la Fuente-Mella & Mercedes Marzo-Navarro, 2022. "Econometric Modeling to Measure the Social and Economic Factors in the Success of Entrepreneurship," Sustainability, MDPI, vol. 14(13), pages 1-15, June.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:13:p:7573-:d:844462
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    References listed on IDEAS

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